Sale at 390 West End Avenue #PHA

"The common roof deck is located right outside your front door."

I'm not sure that would be a selling point for me.

Look at the sale history for that building. These people will get 22,000,000 tops.

What a crappy listing. No photos of the unit itself and scan-n-posted floor plan that is impossible to read. Shoddy work on the agent's part.

have seen how this building has been fraught with problems, but i couldn't understand how units still sold at a 90% reduced price. it seems the problems started (or became known) when dolly lenz's team moved on after elliman was stiffed on its commission.

otherwise, the building is very nice.

"dolly lenz's team moved on after elliman was stiffed on its commission."

Obvioulsy karma is not in their vocabulary.

Hey Bill, I *think* they got stiffed. I recall reading how Mayor Bloomberg personally called Dolly to thank her for rescuing the building from certain death. She and her team staretd out by revamping the building's marketing campaign, saying (paraphrase) "Placing an ad for a $5 million condo on the subway to Queens or on the side of a bus is not going to rake in buyers." And sure enough, they seeme dto be going to contract afterwards. But then, Elliman was gone......

Kind of reminds me of the Plaza's conversion to condo. I laughed when I read about the Russian financier who bought a $50 million penthouse there (after only seeing online/brochure pics) and then sued after the purchase when he moved in to find the unit was nothing more than "gloried attic space."

make that *glorified* attic space! :)

AU; It's the Plaza, even "gloried attic space" would suffice. Still, I remember when that happened with the Russian guy and it was quite a damage control issue for them. Also, If Elliman is gone from the Apthorp, that usually means cutting losses due to nopayment. I cannot think of any other reason. I would really like to know what will transpire there in about five years.

Hey Bill, I wish I knew the ins and outs of finance in order to understand why a building would be in such dire straits. If there's nothing wrong with the structure or foundation and no rodent infestation, then - what's the problem? The buildng's been marketed on SELLING NEW YORK on HGTV and they mentioned a *little somethin* about legal troubles, but not more more..... :-/

AU, here is a thread that might answer it for you. It's a mess and a real shame. I have always loved this building and hope it will survive. The greedy messed up this building which is parallel to what is going on presently in this country financially.

http://streeteasy.com/nyc/talk/discussion/28593-apthorp-ordered-to-return-deposits

Hey Bill, I remember reading about that too. So unfortunate. As there's been a lot of mention about corporate entities buying units here, I wonder how many actual purchases have actually been for residential use? The only high profile one (relatively speaking) I heard about was French designer who bought a hugh one bedroom for $6+ million.

In this kind of building it will be pretty much owner occupied coupled with the fact that they may own other homes and use this high-end resdience a pied a terre. Amazing, but true. Also, many might use their corporation to purchase for their personal use. It appears that management is renting out apartments still. If I had that kind of money, I would be wary as to all the problems. Remember, this is a building that takes up a city block, and that aint cheap in the short or long run.

Agree. I wouldn't touch this hot potato with a ten ft. pole, either as a renter or buyer. I have had bad experiences as a renter - the place looked pristine, signed the lease, etc. Then I moved in and found that the dishwasher was in its compartment by a single nail and fell out during my first wash cycle. A week later, the hot water knob came off in the bathtub. The management fixed the dishwasher but BLAMED ME for BREAKING the knob.

So yes, I would be cautious about entering this place unarmed with info.