Open House Report: 160 Riverside Drive #1A

160 Riverside Drive #1A Co-op, seven into six - currently 2 beds 2 baths + den Asks $2,275,000; Maint. $2,861 Traffic: Light (I was there early) In most pre-war buildings, ground-floor apartments are stepchildren. While these units can be quite nice (especially when they enjoy enhanced ceiling height and tall windows), they seldom offer the flow of "classic" layouts. From this perspective, #1A at... [more]

160 Riverside Drive #1A Co-op, seven into six - currently 2 beds 2 baths + den Asks $2,275,000; Maint. $2,861 Traffic: Light (I was there early) In most pre-war buildings, ground-floor apartments are stepchildren. While these units can be quite nice (especially when they enjoy enhanced ceiling height and tall windows), they seldom offer the flow of "classic" layouts. From this perspective, #1A at 160 RSD is a pleasant surprise. The floor plan resembles a typical classic seven, converted to six rooms in the usual way: by sacrificing the maid's room to create a large eat-in kitchen. Although #1A is smaller than the rest of the "A" line, few major compromises are evident here. All the rooms are of good size, flow is fairly natural and it would be quite simple to restore the third bedroom, or even to add a fourth. Light is very good, by ground-floor standards, in four rooms. The front of the apartment even has a nice view across the upper level of Riverside Park, toward the Hudson. The rear bedroom looks up at the Rice Mansion. Overall, #1A is about as close as a maisonette can come to a "plus" view. #1A was handsomely renovated by a previous owner. (See http://tours.imagemaker360.com/Viewer/12.asp?ID=63336&tab=stills&SS=1 for the 2007 pictures that are no longer visible on Streeteasy.) The work appears to be aging graefully. The kitchen - particularly the massive Garland range - made me drool, despite weak natural light. A home office has been built into the den, mitigating the loss of the maid's room. As currently configured, the den could also serve as guest quarters, as it is separated from the living room by pocket doors. The current owners freshened the decor after their 2007 purchase. I don't think they added anything major - perhaps some storage, window treatments, lighting and the like. That raises the question of pricing. #1A came to market in early 2007 at $1.85MM, quickly sparked a bidding war and sold, after two weeks on the market, for $2MM. The apartment's merits - and weak on-market competition - may justify the $2.275MM ask on the new listing. On the other hand, a 14% markup on a 2007 purchase might be too much for informed buyers to swallow. [less]