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why would a seller keep raising this price?

Started by Village
almost 14 years ago
Posts: 240
Member since: Dec 2008
Discussion about
http://streeteasy.com/nyc/sale/496263-coop-21-east-11th-street-greenwich-village-new-york I think 1.9 was somewhat aggressive in the first place - and it is now up to 2.6!
Response by sippelmc
almost 14 years ago
Posts: 142
Member since: Sep 2007

Looks like it was totally renovated between 2010 and 2012, which is what the description says as well. Don't know WV prices but I like that floorplan w/outdoors, notwithstanding groundfloor / 1 bath only.

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Response by bramstar
almost 14 years ago
Posts: 1909
Member since: May 2008

Does seem a bit steep for a railroad one-bed, garden notwithstanding. As for the updates, may not be to everyone's liking, especially those seeking a traditional townhouse feel.

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Response by ieb
almost 14 years ago
Posts: 355
Member since: Apr 2009

I saw this apt when it first went on the market and it looks pretty much the same to me. I'd be shocked if more than $50K was spent on renovations. When your in it it feels like a basement.

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Response by Target
almost 14 years ago
Posts: 67
Member since: Nov 2009

I saw this apartment several years ago before Jeffrey Steingarten (food writer for Vogue) bought it. It looked the same as it does now, so that renovation was before 2004. It sold for 1.95 in 2004. It is a nice apartment, but would be nicer with a south garden

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Response by Village
almost 14 years ago
Posts: 240
Member since: Dec 2008

I may be way off but I can't see this selling for more than $1.5.

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Response by JButton
almost 14 years ago
Posts: 447
Member since: Sep 2011

I bet the seller is looking at the few new constructions in the village (devonshire and st vincents) and applying the same 2.5k/sqft on his apt. this place looks like what 1000 sq feet? i think 1.75mm given outdoor.

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Response by kylewest
almost 14 years ago
Posts: 4455
Member since: Aug 2007

$2.6MM sub-grade cave with nice bathroom (if you like the anticeptic aesthetic) and patio. That's a lot of money for a place with a bedroom that is essentially open to the dining room. Yes, there's a lid for every pot--but probably not at near this price.

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Response by Village
almost 14 years ago
Posts: 240
Member since: Dec 2008

I actually like the apartment/location very much. But the price is complete nonsense.

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Response by bramstar
almost 14 years ago
Posts: 1909
Member since: May 2008

Yet another unfortunate example of incongruous over-design.

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Response by caonima
almost 14 years ago
Posts: 815
Member since: Apr 2010

because they cannot sell, it's a dirty trick to raise the price if you cannot sell

eventually there'll be some one who is willing to laundry million dollars and buy whatever priced high enough, such as corrupted government officials, drug tycoons, ponzi blood suckers

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Response by JButton
almost 14 years ago
Posts: 447
Member since: Sep 2011

they aint buying a ground floor 1br. for foreigners ground floor is basement, 1st floor is ground, etc.
those types are buying full service big windows big lobby buildings

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Response by Triple_Zero
almost 14 years ago
Posts: 516
Member since: Apr 2012

"for foreigners ground floor is basement, 1st floor is ground, etc. "

"Foreigners"? That's the British way, but certainly not some kind of everywhere-in-the-world-except-America standard. Most of the world has the ground floor as the 1st; the ground floor as the "zeroth" is rare.

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Response by JButton
almost 14 years ago
Posts: 447
Member since: Sep 2011

1st floor in US is called ground floor all over europe. Another difference here is that this is not the 1st floor, but ground floor, ie. steps down from the street to enter the unit. That is a sub ground floor (or basement in many cases) in europe.

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Response by Truth
almost 14 years ago
Posts: 5641
Member since: Dec 2009

Yes, sub-ground-floor in Europe. And not good because of the recent years of flooding around Europe.

(Venice excluded because most people living in those Grand Canal properties are living on the second floor with the ground floor flooded every day at high tide.)

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Response by Target
almost 14 years ago
Posts: 67
Member since: Nov 2009

In New York we call it a garden apartment. Many people want to have the garden - for pets, for gardening, for outdoor grilling (as the owner of this apartment wrote about frequently). The building has a basement below this level with the services for the whole building. This apartment is a couple of steps down - not exactly sub-grade.

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Response by 300_mercer
almost 14 years ago
Posts: 10644
Member since: Feb 2007

They want a price suitable for Parlor floor not an apart where you may have to worry about flooding from your garden.

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Response by huntersburg
almost 14 years ago
Posts: 11329
Member since: Nov 2010

>because they cannot sell, it's a dirty trick to raise the price if you cannot sell
eventually there'll be some one who is willing to laundry million dollars and buy whatever priced high enough, such as corrupted government officials, drug tycoons, ponzi blood suckers

Oh Brooks, you know, you can't change the world.

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Response by Village
almost 14 years ago
Posts: 240
Member since: Dec 2008

Sorry - this whole mafia conspiracy theory is weird/senseless. Let's just pretend that someone does need to launder money by buying a $3 m apartment (suspend all reason and let's just assume this could be a common reason for apartments to sell above their market value) - why wouldn't that person just buy a $3m apartment that is actually worth $3 million? Money launderers do not benefit by overpaying for real estate! They would just be left with a hard asset worth less than the original dirty cash.

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Response by truthskr10
almost 14 years ago
Posts: 4088
Member since: Jul 2009

I think I went to see this apartment around 2 years ago.
That I remember the pics but not the apartment says a lot.
My notes show at the time I penciled in $1.5m.
What I found in general about all the lower 5th ground floor apts I looked at were the gazillion windows and neighbors as your backyard audience.
I realize this is basically so with all ground floor apartments but it seemed like there were always twice as many windows on lower 5th yards.

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Response by falcogold1
almost 14 years ago
Posts: 4159
Member since: Sep 2008

the buyers had their clock cleaned back in 2004.
surely the market value has risen since then. Add in this super cool reno and it's a lot living in a very small hollowed out volcano. The new owner will need one of those persian white cats and 007 Jewish type villian name like Blowfeld or Goldfinger.
I predict that this place will be purchased by an entity known only as: Goldfeld
(Actually, Dr. Elliot Goldfeld DDS, recently divorced with pre-college aged children living in Rye Brook, newly exwife Helen is a living nightmare.)

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