21 east 90th street

Thank goodness I do not have the life circumstances of some people. The very idea of going through a high end gut renovation of a classic 6 only to decide/have to move a year later would make me insane. The renovation for the most part obviously looks very nice. Great floors, mouldings, wall treatment in dining area, intelligent lighting updates, good flow and logical floor plan. The working "triangle" of the kitchen is a bit messed up with the fridge too far away from the sink, pocket doors are not my favorites (see separation of dining room/breakfast nook-kitchen-pantry), and some things are a bit over the top or not to my particular taste (gold knobs, cove lighting in entry unless it is just reflections). But overall this is a very tasteful, relatively sensitive renovation that most people would love. Wish we could see the bathrooms.

But how on earth could it be priced at this point and anyone be expected to make an offer? Reno or not, it is $500,000-$1MM more than any comparable apartment in the building! It is priced like the highest sale of a fully renovated 3 bedroom and that sale was an outlier. Insantiy. No surprise people probably didn't even show up to look long enough to laugh at the pricing and WHOMP, 1/4 million comes off, sure enough.

My guess at reno cost? $600,000 if we want to be really liberal. Even if you want to say $750,000, which I can't imagine being the case, how on earth do you go from purchase of $1.77MM + $750K = $2.25MM to an ask of $3.75? That is a $1.5MM premium that is out of whack with the building comps, with the 2009-2011 NYC RE market, and the owners costs. Am I missing something? UES_Shopper certainly spotted a very strangely priced property here. Absolutely zero chance it moves anywhere close to this asking price. Another $250,000+ will be lopped off before people even start sniffing around at this one I bet.

$2000 a sq ft to be staring at other buildings? OK...

Usually if you have that really sophisticated floor plan drawing, you think your place can sell for more.

Happens every time

Reno's can cost anything
The mill house that built all the work in my office showed me a project they were working on. It was a single bathroom Reno that was costing 650K.
As a very rich friend once told me, when you have a boat load of money there is really nothing to buy. Art, jewelry, RE, cars, boats all require interest. Everyone goes to the bathroom.