June is here- Let the Chopping begind

xd

What that supposed to be Chopping Behind, or something else?

http://streeteasy.com/nyc/sale/668468-coop-50-east-89th-street-carnegie-hill-new-york

8/30/2011
Previously Listed by Douglas Elliman at $2,000,000.
02/22/2012
Douglas Elliman Listing is no longer available. Last priced at $1,795,000.
03/08/2012
Listed by Sotheby's International Realty, Inc. at $1,800,000.
05/30/2012
Price decreased by 6% to $1,700,000.

Interesting, so June is here, as you proclaim in the headline, but you haven't posted any price choppers for the month of June. Why is that?

June Cleaver

Common denominator-UES, co-op and high maintenance. Only wish that condos were chopping.

Is price chopping in June a real trend? Why is that?

what chopping? obailout will bailout the deadbeats and flippers again

This is an UBER_CHOPPER!
50 Sutton Place South #3GM
http://streeteasy.com/nyc/sale/615603-coop-50-sutton-pl-south-sutton-place-new-york
1/15/2010 Previously Listed by Brown Harris Stevens at $2,495,000.
10/04/2010 Brown Harris Stevens Listing sold. Last priced at $2,235,000.
10/04/2010 Previous Sale recorded for $2,138,750.
01/05/2011 Previously Listed by Stribling at $2,375,000.
06/12/2011 Stribling Listing is no longer available.
06/14/2011 Listed by Douglas Elliman at $2,275,000.
07/26/2011 Price decreased by 9% to $2,075,000.
09/30/2011 Price decreased by 6% to $1,950,000.
11/09/2011 Price decreased by 8% to $1,795,000.
01/04/2012 Price decreased by 6% to $1,685,000.
05/16/2012 Listing is no longer available.
05/24/2012 Listing entered contract
Where will it close it$?$?

At the Plaza:

It appears that even the 1% must chop. This has got to hurt.

STREETEASY HISTORY
04/08/2008
Previous Sale recorded for $1,928,937.
09/30/2011
Listed by Brown Harris Stevens at $1,700,000.
11/15/2011
Price decreased by 6% to $1,600,000.
01/06/2012
Price decreased by 7% to $1,495,000.
02/23/2012
Price decreased by 7% to $1,395,000.
04/19/2012
Price decreased by 3% to $1,350,000.
05/23/2012
Price decreased by 11% to $1,195,000.

Sorry: Forgot the link: http://streeteasy.com/nyc/sale/637941-condo-768-fifth-avenue-central-park-south-new-york

http://streeteasy.com/nyc/talk/discussion/2496-the-sky-is-falling

oh Ira, how for how many months are we going to do this for? you have to chop it more if you want to sell this

http://streeteasy.com/nyc/sale/663141-coop-60-sutton-place-south-sutton-place-new-york

06/22/2006
Previously Listed by Corcoran at $1,150,000.
06/28/2007
Previous Sale recorded for $(insiders only)
07/01/2007
Corcoran Listing sold.
02/14/2012
Listed by Corcoran at $1,995,000.
03/12/2012
Price decreased by 10% to $1,795,000.
03/17/2012
Price decreased by 6% to $1,695,000.
05/07/2012
Price decreased by 6% to $1,595,000.
05/30/2012
Price decreased by 6% to $1,495,000.

Wow, another price chop in an undesireable part of town.

Anything on the west side?

I would love for what brooks is showing to be the truth. But it just isn't. Anything that's remotely desirable is not getting chopped. Sutton place is terrible. So is the upper east side. No offense. I would much rather move to parts of brooklyn.

20 % chopper.. not Sutton not upper East
http://streeteasy.com/nyc/sale/677695-coop-11-west-30th-street-midtown-south-new-york
4/19/2012
Listed by Sotheby's International Realty, Inc. at $2,500,000.
06/01/2012
Price decreased by 20% to $1,995,00

It' June. another 20% chopper.. not Sutton..not UES
http://streeteasy.com/nyc/sale/679947-coop-885-west-end-avenue-upper-west-side-new-york
5/07/2011
Previously Listed by Brown Harris Stevens at $2,100,000.
08/16/2011
Brown Harris Stevens Listing is no longer available. Last priced at $1,925,000.
04/27/2012
Listed by Brown Harris Stevens at $1,925,000.
05/31/2012
Price decreased by 9% to $1,750,000.

Brooks, koreatown.

Brooks, ground floor apartment.

Try harder brooks.

June 1 dropped 13%

http://streeteasy.com/nyc/sale/641188-condop-418-east-59th-street-sutton-place-new-york
10/17/2011
Listed by Brown Harris Stevens at $1,150,000.
01/03/2012
Sale recorded for $(insiders only)
06/01/2012
Price decreased by 13% to $995,000.

Brooks you realize apt GA 885 WEA is below ground level, right?

jim_hones10
about 5 hours ago
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Brooks, koreatown.

Brooks, ground floor apartment.

Try harder brooks.

He doesn't care as long as he can spread his propoganda.

i do realize the idiot tried to sell it 20% higher last may and waited until the end of t his May to cut the price. I don't give a flying F56ck where the apartment is. The point is some idiots are still asking way to high a price in this market.

J hones- do you know what propaganda means? do yourself a favor, before you use a 4 syllable word, google it. You may get the spelling correct too.

>do yourself a favor, before you use a 4 syllable word, google it. You may get the spelling correct too.

Brooks, come on now, in your immediately prior post you used the term "flying fuck".

We have not seen a chop in June yet but one IS coming.
This is death by 1000 cuts.
Time to reintroduce this property as #2FE
http://streeteasy.com/nyc/sale/430335-condo-40-sutton-pl-sutton-place-new-york40 Sutton Place #2EF in Sutton Place
06/20/2009 Listed by Douglas Elliman at $1,449,000.
06/24/2009 Price decreased by 5% to $1,375,000.
07/04/2009 Price decreased by 6% to $1,295,000.
07/21/2009 Price decreased by 4% to $1,249,000.
07/23/2009 Price decreased by 4% to $1,195,000.
09/18/2009 Price decreased by 6% to $1,125,000.
10/07/2009 Price decreased by 2% to $1,099,000.
10/29/2009 Price increased by 9% to $1,200,000.
07/28/2010 Listing is no longer available.
12/07/2010 Re-listed by Douglas Elliman.
12/07/2010 Price increased by 8% to $1,295,000.
10/17/2011 Price decreased by 3% to $1,250,000.
05/15/2012 Price decreased by 4% to $1,195,000.

Brooks2
about 23 hours ago
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J hones- do you know what propaganda means? do yourself a favor, before you use a 4 syllable word, google it. You may get the spelling correct too.

no i don't know what propaganda is. i used it in that context, but i don't understand the word.

Brooks2
about 23 hours ago
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i do realize the idiot tried to sell it 20% higher last may and waited until the end of t his May to cut the price. I don't give a flying F56ck where the apartment is. The point is some idiots are still asking way to high a price in this market.

there are always idiots. you are living proof. this is not an indicator of a poor market, but rather poor listings. fuckface

So the moral of your story is...sh!++y apartments in sh!++y neighborhoods won't sell? And the shoebox hotel room at the Plaza that faces a brick wall won't sell for $1 million?

Earth-shattering...I'm pretty confident that even the worst offending RE Bulls and brokers would agree with the garbage you're throwing up here.

What you're seeing is basic supply and demand. There's demand for good buildings, good apartments and good neighborhoods. For the trash you're throwing up here? Simple supply and demand...

Agree that there will be plenty of chopping to go around...just means they weren't priced properly from the start...hardly a city-wide trend.

>So the moral of your story is...sh!++y apartments in sh!++y neighborhoods won't sell? And the shoebox hotel room at the Plaza that faces a brick wall won't sell for $1 million?

But it's June.

"ward--i'm worried about the beaver!"

161 Grand Street #PHB in Little Italy
http://streeteasy.com/nyc/sale/666667-condo-161-grand-street-little-italy-new-york
08/03/2005 Previous Sale recorded for $1,069,162.
02/15/2006 Previous Sale recorded for $1,962,500.
06/16/2009 Previously Listed by Douglas Elliman at $3,600,000.
12/16/2009 Douglas Elliman Listing is no longer available.
03/01/2012 Listed by Douglas Elliman at $1,895,000.
$67.5K below Feb. 2006 close!
Look at that 6 month flip! Almost 900K in 6 months!!!
No wonder the seller thought they could get 3.6MM! hahahahahahahahcoughhahahahahahahahahahahah
nothing shi++y about this super hipster apartment! (except the price)

It's "Ward, you're being a little hard on the Beaver".

free jim_bones!

It's Eddie Haskell!

Beautiful boats and floating ship wreaks all obey the tide.

Eddie is not a good speller.
ship wrecks don't float.

brooks, it appears in west67's absence, and inododo's that falcogold is going to stand up for you. guess you have someone in the sandbox with you.

Actually NYC10007, The Plaza is not a sh***tty building and I think the point is that in 2008 that shoebox sold for close to 2Million and today it will not sell at just over 1Million. That is a significant price chop in an exclusive building. That is what this thread is about

And btw, a large % of apts in NYC face brick walls.

What's the point with these examples? Just that the prices are below peak? That's already obvious. Anyone see price chops for new condo constructions?

Apt 23. I'm not saying that the Plaza is a sh!++y building, my point is it's still $2k+/sq.ft. at current ask which is completely ludicrous and excessive bubble pricing.

And thank you, I know plenty of apartments face brick walls. My point is sellers need to price that in. One of many things that was lost during the run-up in the 2000's was the valuation of things like building quality, location, amenities, views...etc. Sellers who think that price/sq.ft. in a mid-century, cookie-cutter white brick co-op facing smack into another building should be the same as a high-ceiling, well lit apartment in a Robert Stern building next door, are simply delusional.

That's what I'm seeing here...a flight to quality, so those asking too much for mediocre apartments are going to have to chop. And sorry, but that Plaza apartment is flat out mediocre when compared to others in the building...same reason you pay $500/night for the first floor garden view room at the Four Seasons VS $1,200 for the identical 3rd floor room with an Ocean View and balcony.

That differentiation was lost on too many apartments and sellers are reluctant to accept that for obvious reasons.

We're not seeing city wide price chopping trends...we're seeing the appropriate price adjustments on product that is simply overpriced.

who are you kidding. every apartment out there is overpriced. How many price increases are there? why don't you start a nre thread showing all those price increases?

...probably very few, because if an apartment is properly priced it sells quickly, so maybe the better comparison would be a thread that shows quick sales at or close to asking price.

Given that I gave up my insider account over a year ago, sadly I am unable to begin that thread.

So bitter you are, Brooks2. Life is just too short.

Brooks2
about 1 hour ago
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who are you kidding. every apartment out there is overpriced. How many price increases are there? why don't you start a nre thread showing all those price increases?

if they were all over priced, how would any sell?

bitter? no not bitter. just realistic

i never had an insider acct.. petty easy to show all those cuts without one

"if they were all over priced, how would any sell"

by lowering the price..

>i never had an insider acct.. petty easy to show all those cuts without one

Is streeteasy membership overpriced?

Brooks2
about 1 hour ago
"if they were all over priced, how would any sell"

by lowering the price..

that is idiotic. you are more stupid than all the other bears put together. just because you want the apartment to be one way (probably you thought you passed up on something hoping prices would continue to drop) doesnt make it that way. EVERYONE here who is actually looking for an apartment disagrees with you.

Finding over priced apartments is easy dickface.

so finding overpriced apartments is easy or difficult?

'Finding over priced apartments is easy dickface'

dickface...
you're bring out your big guns for this...
dickface...
posting properties with prices folding like card tables is equivalent to having a face in the shape or image of a penis.
Jim, you are spending too much time looking at a penis.
Maybe what you see is a penis afterimage.

Pull that keyboard tray out a little further and put little jim_bone away.

brooks is it nice having fuck0gold to fight your battles for you? seems all the bears really like to stick together. pity for you this is all you have left....dodo and w67 weren't really worth much, but better than this POS fucko here.

what's worse?

a dickface or a POS fucko?

Which is more prevalent in your family?

being columbiacunty is worse than both put together.

not the question.

which is worse?

dickface or POS fucko.

Brooks2, please explain to me how simple it is to finding closing prices without a paid account. Not sure I understand your logic.

acris

ba294
23 minutes ago
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acris

brooksie doesn't know what acris is. he just finds shitty listings and calls them "price chops" so he can validate his not purchasing when the market was worse.

Have you read a news paper lately? Market is worse.

maybe a better question. Do you read?

so hones is finding an overpriced apartment easy or difficult? or don't you understand the question?

so all the people who comment here who are actually looking for an apartment to buy but can't find one are lying? or is it just more of your bullshit?

why don't you post some links about the weakness of the sales market in manhattan? current articles, not from 2009.

but....

dickface or POS fucko?

so you did not understand the question. That would have sufficed.

ok dickface. I'll play. finding over priced listings is easy. because shithead owners overvalue their apartments. smart brokers get them to reduce to market, where they sell. so what you are doing a monkey could do.

now find some articles monkey, that speak to the weakness of the rental market in manhattan. do it quickly bitch.

i love how you have cunty sticking up for you. do you polish his know so he'll get your back?

435 days on market--
http://streeteasy.com/nyc/sale/594378-condo-100-riverside-boulevard-lincoln-square-new-york
06/20/2006
Previously Listed in StreetEasy, already in contract, by Corcoran at $1,925,000.
04/26/2007
Corcoran Listing sold.
01/25/2008
Previous Sale recorded for $(insiders only)
02/19/2008
Previously Listed by Circa NYC at $2,195,000.
04/03/2008
Delisted by Circa NYC.
12/03/2009
Previously Listed by Nestseekers at $2,250,000.
04/15/2010
Nestseekers Listing is no longer available. Last priced at $2,150,000.
03/28/2011
Listed by Blu Realty Group at $2,150,000.
04/12/2011
Price decreased by 2% to $2,100,000.
11/16/2011
Price decreased by 5% to $1,999,000.
05/02/2012
Price decreased by 3% to $1,949,000.
06/04/2012
Price decreased by 1% to $1,925,000.

how can someone who appears to be so angry (that's you dickface) claim to be so happy?

cut over 10% in 3 months
2/28/2012
Listed by Charles Rutenberg at $930,000.
03/20/2012
Price decreased by 3% to $900,000.
03/27/2012
Price decreased by 1% to $895,000.
05/17/2012
Price decreased by 3% to $865,000.
06/04/2012
Price decreased by 2% to $849,00
http://streeteasy.com/nyc/sale/666045-coop-230-west-end-avenue-lincoln-square-new-york

Brooks2
6 minutes ago
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435 days on market--
http://streeteasy.com/nyc/sale/594378-condo-100-riverside-boulevard-lincoln-square-new-york
06/20/2006
Previously Listed in StreetEasy, already in contract, by Corcoran at $1,925,000.
04/26/2007
Corcoran Listing sold.
01/25/2008
Previous Sale recorded for $(insiders only)
02/19/2008
Previously Listed by Circa NYC at $2,195,000.
04/03/2008
Delisted by Circa NYC.
12/03/2009
Previously Listed by Nestseekers at $2,250,000.
04/15/2010
Nestseekers Listing is no longer available. Last priced at $2,150,000.
03/28/2011
Listed by Blu Realty Group at $2,150,000.
04/12/2011
Price decreased by 2% to $2,100,000.
11/16/2011
Price decreased by 5% to $1,999,000.
05/02/2012
Price decreased by 3% to $1,949,000.
06/04/2012
Price decreased by 1% to $1,925,000.

Stupid owners. Stupid brooksie. Where is the news on the market you were supposed to get monkey boy?

keep going monkey boy.

here are a bunch of price increases:

http://streeteasy.com/nyc/sales/manhattan/price_changed%3C30%7Cprice_changed_pct%3E0

who is this poster?

jim_hones11
about 11 months ago
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Your response is equal to no response. The MARKET sets the tone, not fuckheads like you.

And what is the MARKET telling people who are out looking for apartments right now CUNTY?

CUNTY, do you save things I say? How sweet. Do you think about it when you are kneeling between brooksie's legs?

what's the difference between jimlittleboner 10 and jimlittleboner11?

is one of you a dickface and the other a POS fucko?

which is which?

http://streeteasy.com/nyc/sales/manhattan/price_changed%3C60%7Cprice_changed_pct:%3C=-5

i'd say mine is bigger than yours

Chop away but AAA still sells quick: http://streeteasy.com/nyc/sale/663623-coop-33-fifth-avenue-greenwich-village-new-york?email=true

i didn't even like the place.

unrealiztic sellers with their overpriced apt will sit for years.
As long as you price them right, they will move. I just sold two properties above my asking price within 10days. It was more than what I had paid for in 2004 and 2007.

kyle, allow me to remind you how the board beat the daylights out of that renovation. (focus was on the kitchen) Apparently there was a another that like the kitchen as much as you.

ba294 is my new hero

Brooks2, you're still not getting my point. I'm not disagreeing that unrealistic sellers are going to have to cut. Keep ranting and take a xanax. Might help with your anxiety.

nyc10007.. thx your point was noted... was just trying to beat down a "troll" ... and you are right, I should go back to ignoring it(the troll)...
back to the Celtics

Falcon, you are of course right. I saw it in person. Uber middling. But the building and location are baller. I was surprised it sold at is price and so fast. But it does reinforce stregnth of this area and these bldgs in gv

One thing to remember in the condo market - lots of money leaving the Eurozone right now and moving to the UK and New York real estate as protection against Euro issues, especially in the luxury real estate sector. The Downtown 3-4 market has been extremely busy since Jan 2012 with many properties that are priced correctly moving to contract within weeks of coming on the market, many with multiple bids. There are always going to be sellers who don't fully understand that just because market reports say the market is strong it doesn't necessarily apply to their apartment. Manhattan is micro-markets - not one market. UES/UWS 1br/Studios move differently than downtown or 2Brs coops vs. condos.

As a seller - pricing at the top is not always the best way to garner the top dollar. Many sellers fear that pricing 'close to the bone' that buyers will offer too low and want a discount. There are always those buyers but serious ones with a real sense of the market actually bid a lot closer to the asking price when it is actually close to what the market believes to be true pricing. In fact, move your property faster and for more when you price it correctly vs. just pricing high and hoping for that 'one'. The latter works in some cases - but you better have a top property and a close pulse on the market. In my opinion, the market is what has gone to contract in the last 45 days that is truly comparable to your apartment. It doesn't matter if 3 Bedrooms are getting over bids downtown if you are on Sutton Place and selling a 2Br coop. What's the competition? Right now? What else are buyers looking at? How long are they sitting there? Those pieces of information can help a seller and broker create a strategy. Monthly reductions because pricing was incorrect to begin with does not make any sense and sends the wrong message to the market. Both for the seller and about the market. Yes, I'm a luxury broker - hope this helps. Best, Tony

Of cse, your market is strong, all others are not. From a brokers mouth to your ears, no eyes.

you guys are crazy

the fact is, more and more unrealistic sellers don't need to cut and easily had their properties sold above the already insane asking prices

tsargent, very well said. I agree with you 100%.

Last year, in a much softer market, I paid 5% above ask for my condo, which was still 9% below the 2007 purchase by the seller. But they priced it right and had 4 bidders, all who knew what the market was and what should be paid. Two of those offers came before the first open house.

All about pricing right...

Its a whole new world out there today. Pricing right to sell, flip or renovate is key these days.
Everybody expects a "can you do better" on any price. Great thread.

death by a thousand cuts
http://streeteasy.com/nyc/sale/430335-condo-40-sutton-pl-sutton-place-new-york
06/20/2009
Listed by Douglas Elliman at $1,449,000.
06/24/2009
Price decreased by 5% to $1,375,000.
07/04/2009
Price decreased by 6% to $1,295,000.
07/21/2009
Price decreased by 4% to $1,249,000.
07/23/2009
Price decreased by 4% to $1,195,000.
09/18/2009
Price decreased by 6% to $1,125,000.
10/07/2009
Price decreased by 2% to $1,099,000.
10/29/2009
Price increased by 9% to $1,200,000.
07/28/2010
Listing is no longer available.
12/07/2010
Re-listed by Douglas Elliman.
12/07/2010
Price increased by 8% to $1,295,000.
10/17/2011
Price decreased by 3% to $1,250,000.
05/15/2012
Price decreased by 4% to $1,195,000.
06/07/2012
Price decreased by 4% to $1,149,000.

http://streeteasy.com/nyc/sale/643431-condo-327-central-park-west-upper-west-side-new-york
01/23/2008
Previously Listed by Corcoran at $1,895,000.
08/22/2008
Corcoran Listing sold. Last priced at $1,599,000.
08/22/2008
Previous Sale recorded for $(insiders only)
10/28/2011
Listed by Douglas Elliman at $2,100,000.
11/15/2011
Price decreased by 6% to $1,975,000.
12/12/2011
Listing is no longer available.
01/12/2012
Re-listed by Douglas Elliman.
03/15/2012
Price decreased by 8% to $1,825,000.
05/11/2012
Price decreased by 4% to $1,750,000.
06/07/2012
Price decreased by 3% to $1,695,000

no a chopper in the village with inventory so low. opps 8% in a month
05/13/2012
Listed by Corcoran at $1,295,000.
06/08/2012
Price decreased by 8% to $1,195,000.
http://streeteasy.com/nyc/sale/683570-coop-79-west-12th-street-greenwich-village-new-york

chop chop chop.
01/13/2011
Previously Listed by Sotheby's International Realty, Inc. at $2,650,000.
10/30/2011
Sotheby's International Realty, Inc. Listing is no longer available. Last priced at $2,395,000.
01/11/2012
Listed by Brown Harris Stevens at $2,295,000.
03/21/2012
Price decreased by 2% to $2,245,000.
03/23/2012
Price decreased by 2% to $2,195,000.
05/02/2012
Price decreased by 2% to $2,145,000.
05/21/2012
Price decreased by 7% to $1,999,999.
06/09/2012
Price decreased by 7% to $1,850,000.
http://streeteasy.com/nyc/sale/653541-coop-860-united-nations-plaza-beekman-new-york

33% choppers

06/08/2011Previously Listed by William B. May at $1,300,000.
12/08/2011William B. May Listing is no longer available. Last priced at $975,000.
01/05/2012Listed by Corcoran at $975,000.
02/10/2012Listing entered contract.
06/12/2012Listing is no longer available.
cut 11% sold $865k