Sale at 1025 Fifth Avenue #8AN

Their asking's a bit high, as #9AN upstairs closed for $1,365,000 last year. That was also in original condition.

If they want it to move, asking $1,420,000 instead of $1,495,000 would put it within the average 4% listing discount that a buyer might expect to negotiate down to.

Thoughts on the apartment worth if a renovation was done?

bump

I agree with NWT that #9AN is as good as a comp as you can get. #8BS sold for $1.6mm, but at least that was in better condition and had a sliver of a park view. #9GN also sold for $1.6mm in similar condition, but with significant improvements in terms of closets. It looks like #7FN commanded a premium because of the relatively good renovation, but I think that $1.8mm was a good sale for the owners.

The apartment's resale will depend on the types of renovations that you or the owner would undertake. The apartment looks as though it may need updating, but that there aren't any egregious problems for future buyers.

The apartment has a functional layout, but the building and apartment may seem sterile to many buyers. It doesn't look like there are any views, and falls in the awkward period of lacking the charm of prewar apartments and lacking the clean polish of a new building. It does have a great location for those wanting to live on UES.