Sale at 150 East 61st Street #5H

probably still priced too high. Prices in this area are still dropping and CC is high.

The area is not that great...the owner really wants to sell...the maintenance is a bit high for most people...it is not a true 3 bedroom...needs a little updating...???

These are just guesses.

8H is $50k cheaper and has been on the market for almost 3 years. And, Also is still priced to high?

period.. not ?

also 10c sold for $800k. Around the same size.. ~1,400 sq ft

500K~600K would be a fair price

That's a land-lease building if I recall correctly. Maint. is high. They did just renovate the lobby to OK standards. There's also an assessment through 2012 for $150 on top of everything else.

See http://streeteasy.com/nyc/talk/discussion/12115-building-at-150-east-61st-street-land-lease-bldg

I don't agree...
Land lease buildings have a knee jerk disapproval to all posters.
Everything has a fair price. The land lease is for the next 98 years and costs are very predictable.
In fact in the other thread it states that the lease remains consistant from 2020 until somewhere after 2100. If the price is right AND your buying for the long haul there could be a deal to be had. I'd check out that land lease carefully and then formulate a price wrt this data.

In other words there is a price where this buy makes sense.
Any guess what that price might be?

Thanks guys.