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GV Penthouse

Started by GVresident
about 14 years ago
Posts: 1
Member since: Jul 2008
Discussion about
Anyone have thoughts on this listing? Views, outdoor space, size, etc. not that easy to come by in neighborhood (although views obstructed in some rooms). Building/location are great. Still, very expensive price considering gut reno needed. Any thoughts on fair price? http://streeteasy.com/nyc/sale/643760-coop-37-west-12th-street-greenwich-village-new-york
Response by nyc10023
about 14 years ago
Posts: 7614
Member since: Nov 2008

I don't have much knowledge of the GV market. But given the building's provenance, views and outdoor space, 6m+ seems VERY achievable.

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Response by falcogold1
about 14 years ago
Posts: 4159
Member since: Sep 2008

interesting decor
looks like they robbed a Marriot.

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Response by front_porch
about 14 years ago
Posts: 5316
Member since: Mar 2008

That's going to be a fun board interview.

ali r.
DG Neary Realty

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Response by 300_mercer
about 14 years ago
Posts: 10570
Member since: Feb 2007

Unique. I would say $1300 per sq feet with 50% for outdoor. Leaves $400 per sq ft for reno. Finished penthouses will be $1700-$2000 per sq foot. Guessing 3000 sq ft and 1500 outdoor.

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Response by 300_mercer
about 14 years ago
Posts: 10570
Member since: Feb 2007

Spent a little time on the floor plan. Definitely 2700-3000 sq ft. And 1000 sq outdoor. Does not need gut renovation. Probably not more than $1mm for renov including expanding the bathrooms and changing the layout a bit. I would say in 4.5-5mm range using $1500 . Maintenance is very good for such a place.

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Response by inonada
about 14 years ago
Posts: 7952
Member since: Oct 2008

It's 2500 sq ft interior (including solarium), 700 sq ft interior. So asking price is $2500 a sq ft assuming 50% for exterior. Seems pricey to me.

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Response by deanc
about 14 years ago
Posts: 407
Member since: Jun 2006

@Ionada, yep seems pricy to me too, and 5k maintenance is a little over as well.

Someone spending 6m on an apartment wants more. eg trophy living room extending the living room to take over master athen joining two bedrooms for master on other side of apartment.

$500k approx renovations to erase the "Marriot" feel so $4m max - $5m post renovation flip.

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Response by AstorPlace
about 14 years ago
Posts: 15
Member since: Jul 2011

I think you'll find that this penthouse sells very close to ask or above.

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Response by inonada
about 14 years ago
Posts: 7952
Member since: Oct 2008

Yeah, the living room is smaller than what you'd want for a master bedroom at $7M.

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Response by ph41
about 14 years ago
Posts: 3390
Member since: Feb 2008

Actually the maintenance is not outrageous for that space with the terraces.

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Response by columbiacounty
about 14 years ago
Posts: 12708
Member since: Jan 2009

And you know terraces

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Response by huntersburg
about 14 years ago
Posts: 11329
Member since: Nov 2010

>And you know terraces

Ooh, that stings. columbiacounty, you sure know how to throw a zinger.

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Response by 300_mercer
about 14 years ago
Posts: 10570
Member since: Feb 2007

It seem that my estimate of $4.5-$5mm is the highest. Even this is significantly below the ask. I estimated high due to limited inventory in the village and recent sale of penthouse (this building and Devenshire) as North at well north of $2000 per sq feet.

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