Sale at 535 West End Avenue #PH

Yeah, good luck on that.

West End may be "prime" but it isn't exactly "trophy" apartment territory.

Since Extel has discounted several apts at 535 between 20 - 44%, it seems quite amazing that they couldn't apply the same discount and sell it in the 20mm range. I wonder if this is a reflection of the high end luxury market. We are all focussed of the 88mm sale and tend to think luxury is doing just fine but maybe the sale at 15CPW should in fact be considered a one time fluke and perhaps the lagging financial industry is indeed having an affect on the high end.

Brilliant strategy. Good thing for Extel's investors you aren't in charge of their portfolio.

DID I NOT FORETELL OF THE SPLITTING OF COMBINATIONS INTO SMALLER UNITS AS A PRECURSOR TO THE FINAL CAPITULATION?

LIKE A REVERSE STOCK SPLIT, LIKE PRETTY CLOTHES ON AN UGLY GIRL, LIKE SPANDEX FOR THE LOVE HANDLES..... you CAN fool the lemmings... that's why we have so many ugly children.

BOOZE, SPANDEX AND LIGHTING....

IF I charge you 1/4 for 1/16 of the use of a manhattan apartment..... now that's making some coin...

DID

They probably just figured somebody'd want a nine-bedroom (plus guest LR, den, study, media room, etc.) apartment, but that somebody didn't turn up.

11ABC at the Laureate, with six or seven bedrooms at half the price, went to contract while this one was being flogged, and that seems to have been it for monied families with lots of kids.

In 2007 somebody would have shown up... it was called a bubble.. when the goal is to sell the $37MM apt to another bubbler for $45MM in a year....

And it all started at $300psf........ then when hit $2K psft... and now we'll hit $500psf... why aren't the borkers talking about this as a weakness on the high end....

BC it doesn't HELP THEM IN ANY WAY.

Let's get some Rent / Buy for 535 WEA. There's some ultra-high end rentals recently.

NWT: Do you know whether they actually built it out as a triplex, or if the pictures are renderings? The images look real to me.

I think they did. The triplex space, with stairs and private elevator, is in the plans filed with the city two years ago. The photo of the middle floor, with the wrought-iron stair rail looking like something from a stoop in Teaneck, clinches it: http://img.streeteasy.com/nyc/image/3/20727703.jpg If it was a rendering they'd have made it prettier.

Good point. Maybe they went cheap on the staircase because the contingency plan was to rip it out and split the floors. If they had found a buyer for the triplex, $37MM would have bought some nice custom millwork.

There's a lot of wainscoting. Good word, wainscoting. Very woody. Not tinny at all.