Sale at 525 East 86th Street #1E

No comments from this otherwise highly opinionated and knowledgeable board?

"why has this place been on the market for such a long time?"
Because NOBODY wants it!

"It's been on and off the market for several years now"
Exactly and that's why I would never buy a ground floor apt in a high rise bld.

how 'bout offering an opinion of your own? what with your 2 phd's and all

maybe it's 2 penthouse apts in the "D" line & that's why s/he wants a ground floor?

It's almost the same layout as the F-line on higher floors.

Back in June 2010, 6F went to contract at $1,175,000 while this one was asking $1,099,000. Nobody'd go for 1E, given the floor, when they could get the other for just a little bit more.

6F wasn't perfectly renovated or anything, but must've been much less off-putting than 1E's clutter, bordello decor, etc. Hard to see past all that.

I know this line and this apartment. It's a great layout and a great building.
The problem is 1st floor darknesss and lack do window privacy.
This can sell ez for the right ask which is much lower...like 899k

imo, biggest problem is resale. Pool of interested buyers is small, so it'd take a long time to sell & buyers want a deep discount. This is exactly what's happening now. Easy to get in, hard to get out.

roach motel--kinda like this trade i got on

NWT and falcogold1 - thanks.  I completely agree about the clutter, decor, lack of light/privacy etc. in 1E being off-putting.  It is even worse in-person than in the pictures.  That explains why this apartment may not have sold in the past.
 
However, as falco pointed out, it has a great layout and it's a great building.  So if I were to look past the clutter and decor and was interested in buying, what would be a reasonable price for 1E?
 
6F sold for $1.175mm in 2010 which equates to $758  per sq ft (based on 1,550 sq ft).  Let's assume it was slightly larger (i.e. 1,650 sq ft) as 1E purports to be.  That would put 6F at $1.250mm.  From this comparable value, what would be a reasonable reduction to account for the ground floor issues?  15%, 20%, or something else?  Falco, you suggested $899k which would be a 28% discount.  Is this a reasonable way to look at this?
 
Your thoughts would be greatly appreciated.  Thanks.
 

Any thoughts on my question above?

Any thought s on the question below?

"I would think that if it were priced correctly, it would sell."

obviously not priced correctly.

$899 sounds like a reasonable price to start, definitely not 1.095.. and to think this idiot broker increased the price to 1.15.

$899k is just above $500psf-- sounds about right for a place so far east... maybe less since it's on the first floor