Compendium Of A Bubble

The $500K premium must be because part of the view of that wild overgrown urban eyesore known as Central Park will now be replaced by a direct view of a gleaming new tower.

The Bubble lives on - now in the form of commodities and stocks. Hey Bernakers: PUMP UP THE VOLUME! See if you can squeeze what's left of the Middle Class and trickle it up to the speculators.

Here is another good example. Renovation in late 2010 does add value, but I believe they are stretching. Kinda funny when a year ago they didn't need to pay the listing price, yet after 13 months it is 'worth' 33% more. I figure we'll see this in the 'price chopper' thread.

239 Central Park West #6C

STREETEASY HISTORY
01/24/2005 Previous Sale recorded for $1,625,000.
04/15/2010 Previously Listed by Prudential Elliman at $1,850,000.
07/29/2010 Previous Sale recorded for $1,800,000.
09/13/2011 Listed by Prudential Elliman at $2,395,000.

And lets see if this one can hold the amazing run up...

386 Columbus Avenue #15A

03/06/1995 Previous Sale recorded for $380,000.
07/06/2000 Previous Sale recorded for $790,000.
05/24/2005 Previous Sale recorded for $1,750,000.
05/30/2007 Previous Sale recorded for $1,995,000.
09/14/2011 Listed by Halstead Property at $1,995,000.

Why doesn't this thread have apt23's typical complaining about Europe and how Europe will be the destruction of U.S. real estate?

Markets up 2.5-4% today in Europe.

Walterh, that stretch of CPW was very sketchy back in 2010, now much safer.

hey stevejhx -- havent you heard, they're not speculators,they're JOB CREATORS! :-O

I have heard, W34 - and I laughed, b/c they're not doing a very good job of it.

What they are is "The Bailed Out" - a new one coming today, central banks bailing out European banks. How this unwinds...?

They ARE job creators!

Why just a few years ago the 2 maids, nanny, handyman, country house landscapers, baby sitter and the women that does your nails...all illegals working for cash. Today with the changes created by the fed all those same jobs are now on the books being done by US citizens. Not to mention that now with the changes in place you can afford them.

Via La Revolution!

Let's see today's news:

1) Jobless claims 420k - more than expected
2) NYS Empire - worse than expected
3) Philly Fed - worse than expected
4) Inflation - worse than expected

Oil - UP!
Commodities - UP!
Stocks - UP!

Why?

More bailouts - that aren't going to work.

>More bailouts - that aren't going to work.

When will we feel the impact of this not working?

Fine thread.... Almost like a 'the holocaust' was REAL exhibit...... For oldpenis and general Borkers who still don't get IT.

key element is "Listed by Macklowe Management Co."

walterh7: You might be too kind regarding 239 CPW. I'm not sure the renovation really amounted to much.

Seems as if hopes and dreams can have more volatility than the stock market. Note the correlation between price adjustment and stock market performance. Note that it was taken off the market (rental?) so as not to reflect the Lehman debacle only to return at an even higher price. Ah, the sustainability of hope. Excelsior!! But it looks like hope does not spring eternal forever. And, worse the last ask price --significantly below purchase price -- was before the mini crash this week. I suppose we should look for another price drop soon.

http://streeteasy.com/nyc/sale/618580-condo-1-central-park-south-central-park-south-new-york

STREETEASY HISTORY
03/11/2008
Previous Sale recorded for $3,485,256.
06/16/2008
Previously Listed by Sotheby's at $4,600,000.
07/14/2008
Sotheby's Listing is no longer available. Last priced at $4,750,000.
12/02/2009
Previously Listed by Brown Harris Stevens at $5,995,000.
08/26/2010
Delisted by Brown Harris Stevens.
06/25/2011
Listed by Brown Harris Stevens at $3,200,000.

>Apt23

I just posted this on another thread-- Plaza buyers starting to take a loss.

http://streeteasy.com/nyc/sale/573774-condo-1-central-park-south-central-park-south-new-york

This wealth individual that just sold her apartment at the plaza- for 2.75mm- made a ton of money too.. if you call only losing $141k in 4 years a ton of money!!

0/09/2007
Previous Sale recorded for $(insiders only)
07/12/2010
Previously Listed by Prudential Elliman at $2,900,000.
11/02/2010
Prudential Elliman Listing is no longer available.
12/21/2010
Listed by Corcoran at $3,500,000.
02/08/2011
Price decreased by 6% to $3,275,000.
03/14/2011
Price decreased by 9% to $2,995,000.
08/01/2011
Listing entered contract.
09/13/2011
Listing sold.
09/13/2011
Sale recorded for $(insiders only)

Wow, what a hair cut at the Plaza whose address is more like vanity plates than a really good car. I'd rank this apartment as a GMC Matador with plates that read 'ASS MAN'.

Since Brooks2 can't swing the $10 to see prices without going to ACRIS, here're the Plaza details:

10/09/2007 Previous Sale recorded for $2,944,259.
07/12/2010 Previously Listed by Prudential Elliman at $2,900,000.
11/02/2010 Prudential Elliman Listing is no longer available.
12/21/2010 Listed by Corcoran at $3,500,000.
02/08/2011 Price decreased by 6% to $3,275,000.
03/14/2011 Price decreased by 9% to $2,995,000.
08/01/2011 Listing entered contract.
09/13/2011 Sale recorded for $2,750,000.

At $200,000 down, plus transaction costs, they ended paying about $16,000 per month over the four years. Not much worse than rent, but the seller's probably not whining either way. Maybe kicking themselves for going with the Plaza instead of 15CPW, another 2007 choice for this kind of buyer.

>>>NWT Since Brooks2 can't swing the $10 to see prices without going to ACRIS, here're the Plaza details:

Hey knucklehead, what details did you include that I did not? or do you not know how to add?

This wealth individual that just sold her apartment at the plaza- for 2.75mm- made a ton of money too.. if you call only losing $141k in 4 years a ton of money. Bot it for 2,891mm

>>>>NWT Since Brooks2 can't swing the $10 to see prices without going to ACRIS, here're the Plaza details:
Hey knucklehead, what details did you include that I did not? or do you not know how to add?

NWT, Brooks2 logs in under his other paying account to get the full details, then posts as Brooks2

HB, why do i have to be someone else? Why can't I just be me?

how many different alias' do you log in under?

Ask columbiacounty, he's got a long list.

so then Brooks2, why wouldnt you be spending the $10/mo? You seem educated and able to afford it, not to mention certainly interested in the topic enough to get value from it.

why don't you? and why are you gray?