high-end rental market weakness

If you sold iPods in your apt... then it would be perfect
; )

One wonders why such a great apartment turns over so frequently.

Back to 2009 pricing (at least) for this guy. CPW, 2200 sq ft, 40-45' of Central Park frontage from the 12 floor. Available for 1-year, 2-years, or longer. They originally thought they could outdo their $12K from late 2009 / early 2010, so they priced it at $14K. Must have been reading the NYT and WSJ Real Estate infomercial sections about the burning-hot rental market. Now they are down to $12.3K, and have added a no-fee sweetener not there a couple of years ago.

http://streeteasy.com/nyc/rental/823985-condo-327-central-park-west-upper-west-side-new-york
03/06/2008 Previously Listed by Douglas Elliman at $13,300.
09/17/2008 Douglas Elliman Listing rented.
10/23/2009 Previously Listed by Douglas Elliman at $12,500.
03/24/2010 Douglas Elliman Listing is no longer available. Last priced at $11,950.
12/05/2011 Listed by Douglas Elliman at $14,000.
12/22/2011 Price decreased by 4% to $13,500.
01/17/2012 Price decreased by 6% to $12,700.
02/07/2012 Price decreased by 3% to $12,300.

Nada, I agree with your argument that the rental market for this apartment has weakened over time -- the numbers clearly support that -- but don't you also think there's an aesthetic factor at play here? This one takes me aback, it really does.

ali r.
DG Neary Realty

do you need to pass the board to rent in these coops?

J, generally yes. Depending on the building, a renter faces anything from a modified to a full board process.

When I buy a car do I need to pay for it?

A. Yes. All cash or financed. But you must pay for your car.

You are welcome.

W67: all cash, financed, or leased.

leased.. .isn't that for poor ppl?

JButton / FP, which place are you talking about as a coop? 327 CPW is a condo.

FP, which place's aesthetic factor are you talking about? 327 CPW or 23 Beekman?

re: 327: purchased in 6-2005 for $3,665,700
http://streeteasy.com/nyc/closing/36158

If you're a SE insider, see the price history going back to 2002, when it seems the bld was converted to condo.

inonada
about 14 months ago
Posts: 4811
Member since: Oct 2008
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One of my favorite apts, just rented with an asking rent of $14K vs. $15K in 2009:

http://streeteasy.com/nyc/rental/837036-rental-23-beekman-place-beekman-new-york
03/13/2009 Previously Listed by Prudential Elliman at $20,000.
11/07/2009 Prudential Elliman Listing rented. Last priced at $15,000.
11/08/2009 Previously Listed by Corcoran at $15,000.
12/11/2009 Corcoran Listing is no longer available.
01/18/2012 Listed by Corcoran at $14,000.
02/17/2012 Listing is no longer available.

And $13.7K/mo in 2013. But why does it turn over ever year? Is an apartment that turns over every year a good example of the rental market?