$500 PSF Midtown!?

Right - needs renovation AND has very high maintenance.

and is a land lease and poorly located. Except it's close to Felidia.

It's also not $500psf, it's $595.

Yes bc as we all know, land lease building with high maintenance never traded above $1000psf in the bubble.

Flmaozzzzzzzzz.

In other news, psychologists have confirmed financial stress leads to suicides as the large sample of actual suicides in Italy, Greece, Spain and Ireland attests to.

'how do you know financial stress killed all these men?'

W67, all their final notes bf committing suicide states so.

Thank you mr w67.

>In other news, psychologists have confirmed financial stress leads to suicides as the large sample of actual suicides in Italy, Greece, Spain and Ireland attests to.
'how do you know financial stress killed all these men?'
W67, all their final notes bf committing suicide states so.

We care why?

I don't understand why you keep posting these useless post. At least make an effort to read the description and its monthly expenses before reasoning its psf.

There is a Parking space for sale in Prime Midtown for $15,000!!!!!!!!!!!
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the monthly CC is $822.

2007.

There is a parking space in midtown manhattan for $300k
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The monthly maintenance is $800/month.
There were 20 bids above ask and 19 were accompanied by letters stating why the bubble buyer's family 'needed' the parking space. The one from the family with down syndrome twins really tugged at the seller's heart. But alas the down syndrome family could not bid any higher than the best and final's $500k.

Flmaozzz

$500k to $15k. Now thatz what I call a bubble.

are you guys saying it's not worth $500PSF and there's much room to drop further?

Hey, caonima is here to comment on Brooks2's thread.

>The one from the family with down syndrome twins really tugged at the seller's heart. But alas the down syndrome family could not bid any higher than the best and final's $500k.

Should have had an abortion.

Ok w67th. Hilarious or crazy? Where in midtown was it $500,000? Even in the bubble that was nuts

I don't understand why you read the the post let alone comment if you think they are useless and you don't understand.

Let me SPELL it out for you. BUYER BEWARE! WE JUST HAD A REAL ESTATE BUBBLE. PRICES ARE FALLING!!!
01/13/2011Previously Listed in StreetEasy, but no longer available, by Harrison Properties at $730,000.
Price decreased by 3% to $655,000.

AND HEADED LOWER.. SOME say TO $500PSF... some believe lower

Because your post is misleading and useless. You make it sound like these are typical coops in midtown and UES that are 500psf, when they are nothing but bait and switch. High CC, landlease, etc are the reason why these are priced at 500psf. Why don't you post FREE 2000SF CONDO! with a disclaimer where it says, carrying cost of $20,000/month

Yes. I love how Brooks2 claims the unit is $500/sf when it's actually almost $600 sf (OOPS!) - and then extrapolates from this ONE listing - that ALL Midtown is heading to $500/sf.

Let's see now, where can I find a midtown singularity? Why, here's one!! WOW -$7,000+/sf!!! I guess midtown is going to $10,000/sf FOR SURE based on THIS listing!!!! Buy now or be priced out forever!!!!! -

http://streeteasy.com/nyc/sale/668644-condo-50-central-park-south-central-park-south-new-york

These apts were going for 500psf EVEN during the bubble. Bring me $1-1.5/psf CC with decent interior within that location for 500psf.

I am willing to pay $2000psf as long as CC is 10cents/psf
There are many factors that drive the price of the RE. Only fools look at one number.

Exactly! Watch out fir the bait and switch, or overpaying!

lol at Brooks2 desperation via misleading title while his rents are going up..

yes let's single out a LANDLEASE/high maintenance/east of 3rd next to to bridge entrance co-op as a rep for all units..

apparently $13,000 per sq ft is the new $1,300 per sq ft..
http://streeteasy.com/nyc/sale/645818-condo-15-central-park-west-lincoln-square-new-york

is bartering taxable?

Not sure is that what realestate agents are doing these days

I don't think you can afford it with your second job, keep dreaming though.

I'll still rent while prices keep falling. And yes I can't afford to pay 77mm for an apartment

whats with the exclamation point lately?

Exclamation points are used when people are writing, not speaking.... in other words, it's too scripted. !

Brooksie: Midtown Condo, $1,887 psqft!

We can all cherry pick. LOL!

http://streeteasy.com/nyc/sale/674119-condo-300-east-55th-street-sutton-place-new-york

it sold at that price?

http://streeteasy.com/nyc/sale/572224-condo-205-east-59th-street-lenox-hill-new-york
almost $1600psf

we can all find over price apartments like that . here's another massively over priced apartment.

http://streeteasy.com/nyc/sale/650725-coop-315-east-70th-street-lenox-hill-new-york

http://streeteasy.com/nyc/sale/627883-condo-205-east-59th-street-lenox-hill-new-york
sold in a month, $1330psf

Wow. Instead of playing the 'here I got one'. Why don't the nyc re bullz sign up for mandarin classes.

In 4 years when we hit new highs in nyc re due to Bo's conviction reversal and free market / democracy in china , you'all can be like that russian speaking Borker! I'm rich cause I speak two languages! I'm special! I'm a Borker!

$1,888psf, $1,600psf, $1,330psf. Dude you should be buying brooksie's $600psf and arbitraging this insanity!!!!!!!! Hurry. Hurrry. Buy buy buy.

In other news stk mkt swoons.

Brooksie: This one sold, and at a bargain price.

http://streeteasy.com/nyc/sale/608444-condo-300-east-55th-street-sutton-place-new-york

Brooksie: If you think your original expample is really 1100 sqft I have a bridge to sell you! LOL!

why let a few numbers get in a way of good argument

Bottom line is, you can't cherry pick and roll.
Manhattan RE ranges from 600psf-8000psf...for an average joe, $1000psf is a good start for a condo

if you assume the average is a RE broker then yes

The "As long as you pay me camp" yet once again having failed to come up with a reason why bubbles and nazism is bad.....just wants to get paid "again."

have you seen my bubble? I've lost my bubble and it answers to "6%".... please sir can you help me find my bubble....

brooks2, should we continue to rent while RE prices keep climbing?

caonima, what do you think about Brooks2's question?

No. At all times you must be the first to jump on the bubble to get real traction. So all the re bullz should buy now and the bubble will soon take off. Go on. Go get em.

What do apes do when there's a bubble?

They sail away to a distant shore
and live like an ape man
in their ape man world

they buy a used sportscar

Yes. I can't keep up with the zipcar crowd! Nor the multimillionaires (at least based on 2007 3bdrm prices) that haven't taken a 'real' vacation in 36 months.

My kids have more visa stamps than 99% of 'owners' on se. Flmaozz.

Hey Timmy. Whered ya go for spring break?

Disney world again? And you stayed with your grandparents outside Kissimmee that they bought for $50k as a mosquito swamp in 1999?

Wow hanging out with a bunch of early

...... Bubblers nice nice

what's an early bubbler?
People who bought early in the bubble? People who sold early in the bubble?

I needed to renew my passport several times by the time I was 21 because of all the stamps.
When I was the age of w67th's kids, I was lucky to go to Palisades Amusment Park (it swung all day and after dark).

look at all of the tourists in NYC, everybody wants to come here so why would you want to leave?

everybody wants to come here? hope the TSA pervert gropers turn more of those suckers away

why do you think W67 likes to travel?

JButton
16 minutes ago why do you think W67 likes to travel?

Aside from being groped, he likes to be wedged between two seats?

He only flies first class. His kids won't tolerate sitting in coach. They are too sophisticated and wordly from living in Manhattan.

I've learned from CSI that ppl kill for money and sex/love.

There goez your re bubble profits. Just kiss it goodbye. What's 6% of $100k studio versus 6% on $1mm studio.

$6k versus $60k. Hmmm that's gonna get you some rank azzed prostitutes in colombia @ $100k.

Bye bye.

nah, he likes to feel the pulse of the common folk. besides, 1st class TSAs are too gentle.

I like to change handles on an anonymous Internet forum for yucks and giggles. Hi anonymous posters!!!!

w67th is acting strange.

I didn't own and sell a studio.
It was lots more than 100k and I made a few shekels shy of half-a-mil in profit.

I think w67th is talking prosties in Colombia because of the big hoo-ha in the news.
Sometimes he does a mental blend on high fire and percolates a comment.

>My kids have more visa stamps than 99% of 'owners' on se.

What vaccinations are required for children of the apes?

20% chopper on the way to $500 psf.. this one closed $869k ~670 psf---

http://streeteasy.com/nyc/sale/635147-coop-411-east-57th-street-sutton-place-new-york

02/03/2010
Previously Listed by Corcoran at $1,050,000.
08/05/2010
Corcoran Listing is no longer available. Last priced at $995,000.
09/17/2011
Listed by Corcoran at $950,000.
02/03/2012
Listing entered contract.
04/20/2012
Listing is no longer availabl
sold $869k

Does that look like a 1300 sqft floor plan?? LOL!

that's how you RE brokers are marketing it. THis one, 6 stories up closed @ 897k on 6/11, re broker claiming its 1300 sqt ft. So there's more market moving DOWN data for you.. LOL!

http://streeteasy.com/nyc/sale/566464-coop-411-east-57th-street-sutton-place-new-york

"Does that look like a 1300 sqft floor plan?? LOL!"

Looks exactly like a 1300 sq ft floor plan to me:

1) Vertical room dimensions add up to 37', plus 1.5' for interior & exterior walls, so 38.5'.
2) Horizontal at largest point is 4' longer, so 42.5'.
3) Cutout in top-right is 25' by 13'.
4) 38.5 * 42.5- 25 * 13 = 1311 sq ft

How big does it look to you?

you have to consider that the comment was made from a RE broker that lives in midtown east that refuses to accept the reality the prices are FALLING.

As appealing as that $897K sounds for a 1300 sq ft 2 bed, remember that it is still significantly higher than the 05/2006 price for 16A of $787K. Mid 2006 was definitely in bubble territory yet not at the high. That was probably marked by the smidge over $1mil for the same line in 2007. We still have a lot of deflatin' to do. It is coming down slowly but on the outer edges of Manhattan (except Tribecca) it does seem to be coming down.

Btw, Sarkozy seems a goner by May 6. Hollande will raise taxes on ! million euro earners to 75% and the opposition party (M. Le Penn) is even more harsh. Country by country we seem to be losing potential investors. So I guess it is Thank G for Putin and the corruption in Russia. The patrimony of the citizens of Russia is safely invested in fabulous views of the Manhattan skyline. So everyone in the RE pool, you are betting that a corrupt foreign government will prop up your investment and you can hedge with a lottery ticket.

That really deep. Not the "pool", the comment.

another one.. headed south $665 Psf
http://streeteasy.com/nyc/sale/639800-coop-251-east-51st-street-turtle-bay-new-york
7/14/2006
Previous Sale recorded for $(insiders only)
02/09/2011
Previously Listed by Karpoff Affiliates at $970,000.
05/12/2011
Delisted by Karpoff Affiliates. Last priced at $920,000.
10/10/2011
Listed by Corcoran at $870,000.
01/23/2012
Price decreased by 5% to $825,000.
01/29/2012
Listing entered contract.
04/11/2012
Listing sold.
04/11/2012
Sale recorded for $(insiders only)
$800k

Brooks2

20% chopper on the way to $500 psf.. this one closed $869k ~670 psf---

http://streeteasy.com/nyc/sale/635147-coop-411-east-57th-street-sutton-place-new-york

Now you are posting something that is worth a look.
- York Avenue on the far east
- Old Coop
- No W/D (Huge price drop for this alone)

I think the seller still got near peak market price as the price never dropped, but UP!
You can't look at an artificial number created by some unreasonable seller. These apts never sold for more than 700psf because of their location, aging coop without amentities including W/D.

I'm always amused that apt23 never has a reason inside the U.S. that prices will fall, but can always find a reason in China or Europe, maybe Latin America. There's never a good domestic thesis for the decline, other than some theoretical reversion to the mean for which anyone should ask, if we always revert to the mean, why do we ever deviate from the mean in the first place?

price chopper!!! Sprint stock, price chopped 13% in one week. stock market is on the way down to 7x PE.

this kind of analysis in finance is on par with Apt23 and brooks analysis of NYC RE.

i'd say 1.05mm to 869k is down not up

I thought the title of the thread was "$500 PSF MIDTOWN!?"

You keep showing me places priced at $665 - $750 per sf in midtown at promising me that they're headed to $500.

Just show us places actually priced at $500/sf - NOW - and not $700 - not $600/sf - but $500/sf

Oh, and no weird land lease buildings or bizarre layouts. Just a normal OK-type of apartment in a normal OK-type of building will do nicely. Now go fetch.

Thank you.

>Now go fetch.

Woah.

brooks2,
listing for 1.05mm does not mean the apt was worth 1.05mm at one point.
I could list my 1500sqf apt for 15mm and price drop it to 2mm.

That particular apt you had listed was never worth that much to begin with...probably less than 869k even in the peak market.

huntersburg: I said "Thank You"......

so your saying that RE in Midtown east should sell for $500 psf... or at least ones without washer and dryers... That right..

york ave? no that would be the exclusive Sutton .. but this ones on 1st.. and there's a Whole Foods a block away... ye heee? borker talk

>... ye heee? borker talk

I'm not sure "ye heee" is anyone's talk.

"there's a Whole Foods a block away."

Where's that??

I think the fair price for far east Midtown should be $600psf in this given market. Anything over that for a crummy old coop without W/D is crazy. On the otherhand, I'd gladly pay $1500psf for prime UW & UES condos with some amentities.

York and 1st? same shit.

RENY: Whole Foods in August. E 56th btwn 2nd and 3rd.

matsonjones: "Oh, and no weird land lease buildings or bizarre layouts. Just a normal OK-type of apartment in a normal OK-type of building will do nicely. Now go fetch."

what brooks2 keeps leaving out is that these units sold at lower levels even in '06 due to said issues of landlease, layouts, york ave locations, etc.

he's trying to ride out his dwindling sprint stock (luckily only 2$% of portfolio, but unluckily the best thing going for his port) to save up for a downpayment before he has to reneg his 9% rent increase with his landlord next month..

yes, let's nitpick look just sold for $4,419.23
http://ny.curbed.com/archives/2012/04/23/100_eleventh_avenue_penthouse_sells_for_194_million.php

and on the west side hiway nonetheless next to a tacky gehry, how gauche!

roger rabbit shuffle.

^ meant $4,419.23 per sq ft

I'd echo ba294.

http://streeteasy.com/nyc/sale/610104-coop-45-sutton-place-south-sutton-place-new-york

5/20/2011Listed by Sotheby's International Realty, Inc. at $950,000.
11/17/2011Price decreased by 3% to $925,000.
03/15/2012Listing entered contract.
04/28/2012Listing sold.
$855,000

"Why don't you post FREE 2000SF CONDO! with a disclaimer where it says, carrying cost of $20,000/month"

They actually almost did that. The citylights building in Queens - coop - when new they "sold" studios for $25k. Of course, there was a MASSIVE mortgage on the building, so the maintenance was like $2k+ or something (which was basically rent at that time).

It is also what a lot of the co-ops that look like projects used to do... Grand Street houses, Trump Village... until they went private and owners reaped a lot of $$.

report abuse

http://streeteasy.com/nyc/sale/610104-coop-45-sutton-place-south-sutton-place-new-york

5/20/2011Listed by Sotheby's International Realty, Inc. at $950,000.
11/17/2011Price decreased by 3% to $925,000.
03/15/2012Listing entered contract.
04/28/2012Listing sold.
$855,000/500 = 1710 sqft

So you're saying the apartment is over 1700 sqft??

on Citylights I can tell you I ever so briefly considered a 2bed 2bath in the 90s.
I vaguely recall @ $150K for the unit (42nd floor) and maintanence of $2600 a month.
It was a small 2bed/2bath too like 1100 sq ft.

That being said there are chunk of units to be had in midtown east in the $500 p sq ft area with high but not ridiculous maintenance.
But most of them are in Tudor City or first floor apartments.

headed that way ....660 psf Riverviews and v low CC...

Brooks2, how about livening things up with some new midtown comps?

Just take a look a 50 Sutton place, prices still heading south in that building on "exclusive" sutton

South

greensdale: Here's a true midtown (CPS) comp. I guess everything is going towards over $6,000 psf - if I am to extrapolate from this one comp as Brooks2 seems to want to extrapolate from his comp at 50 SPS (which isn't really midtown, unless a place by DeWitt Clinton Park is also considered midtown as well....

http://streeteasy.com/nyc/sale/668644-condo-50-central-park-south-central-park-south-new-york

Brooks2:

The next time I buy a new refrigerator for an apt I will leave the box on front of the building
for you so that you can upgrade your living conditions while waiting for real estate in midtown
Manhattan to drop to $500/sq.ft. It will come with a 25,000 year lease so that you will have a
place to live while waiting for your $500/ft. market - and an option to extend for another 25,000 years

>It will come with a 25,000 year lease

Augh, a box lease. Avoid. Very difficult to resell when you are down to only 1,000 years left.