4th year on the market! will it sell? how much?

Like other 1950s buildings on Park, the rooms are a good size. This one, though, has lots of defects:

-- second floor on busy corner
-- much smaller closets than the competition
-- tiny 8'x8'9" dining area, and it looks even smaller next to the big LR

The complete renovation it needs has been factored into the price(s), but apparently not enough. While this one sat, somebody paid $2,500,000 for http://streeteasy.com/nyc/sale/500326-coop-1020-park-avenue-upper-east-side-new-york

Oh Oh....I got one!
180 East End Avenue #2FG
05/18/2008 Previously Listed by Corcoran at $4,400,000.
08/03/2010 Corcoran Listing sold. Last priced at $3,899,000.
09/24/2010 Listed by Corcoran at $3,895,000.
12/02/2010 Price decreased by 3% to $3,795,000.
01/18/2011 Price decreased by 1% to $3,745,000.
03/25/2011 Price decreased by 1% to $3,695,000.
11/04/2011 Listing is no longer available

Look at 1% price cuts...
Death by a thousand cuts! (in this case three...all paper cuts)
They finally took this one out back and shot it.

Given recent sale of #5E for $1,200,000, it would seem #2E should sell around $1,170,000 less some amount due to poor condition if truly "estate" condition. Offer price of $1.1MM would likely get this sold pretty fast.

I'll go with $1.0 to $1.1M.

2nd ave at 86th and park.....better be a sound sleeper.

It shouldn't have started at that price four years ago much less a yo yo of up and down in ask. A clear text book example of how not to sell an apartment. This had to ge an ardent seller. Who did they think would buy this second floor noisy apartment for an excess of 1.4M? And....it needs work. Pure gaul.

>Pure gaul.

Midtownervirgineast / Bill7284 - your spelling isn't what it used to be.

It's impossible to tell. An owner that obstinate could very well continue to defy the market for many more years. I mean, you're talking about someone who just relisted their second floor apt for $50,000 more than the fifth floor's December trade, for no reason whatsoever.

30k less than 5e?? I would disagree b/c of the 2nd floor
Issue. I don't think the general rule applies when it is the
2nd floor on a busy corner. I am not sure how much of a difference but certainly
It would be a much harder sell and worse investment in the long term.

Also started on the market 2007 so going on 5 years.