Opinion on 5 Tudor City Place (Windsor Tower)

You probably already know that the massive three-block empty space between First Avenue and FDR Drive will ultimately be developed with two high-rise towers, 37 and 47 stories respectively, so if a Windsor Tower unit has a river view now, once that complex is built, that view will be impacted.

Yes I was smitten with PH9 a couple years ago. Maintenance was high but I thought it was a steal in the $1.8 range.
http://streeteasy.com/nyc/sale/463306-coop-5-tudor-city-place-murray-hill-new-york
The former COn Ed prospective high rise site I thought was going to ruin the views and value.
Yet to be built.

PH1 gives you pics with the type of terrace involved
http://streeteasy.com/nyc/sale/671260-coop-5-tudor-city-place-murray-hill-new-york

Considering PH1 sold for $6.5 mil 6 months ago and is double the maintenance of PH9, $3mil wouldnt be outrageous for PH9 if using maintenance allocation and ratio to gauge a rough value of the apt.

http://streeteasy.com/nyc/sale/684912-coop-5-tudor-city-pl-murray-hill-new-york

this PH isn't selling because they made it look "loftlike",strange layout, and the terrace is up on top - lots of stairs.
Same problem with the 1 BR - odd space with a giant roof terrace 2 flights up from LR/kitchen

I disagree, I think it's not selling because it is still asking way too much.
Maintenance at $5400 compared to PH1 maintenance $8000, forgeting that PH1 is substancially a superior apartment in finish and design,I don't see how this PH3 can get more than $4.2mil based on comparing maintenance ratio.
Quite a distance from the $5.3 ask.

truth - I think the sellers of PH3 were blinded by how fast, and for how much PH1 sold for. Of course, PH1 seemed pretty spectacular, but you have to also add that it has a very substantial planted terrace right off the living room, (in addition to the one on top) as well as the fact the the double height living room windows face West, so that view is protected, unlike PH3. Don't think the sellers of PH3 have taken all that into consideration in their asking price. Probably having major fights with the broker right about now.

I agree that I don't see PH3 selling for anywhere near ask. (and come on, those balcony railings????)

I am considering buying just a 1BR here at a mid-level floor (PH is a dream!). Could we talk about that please - any positives/negatives if any of you have lived/heard of.
Btw, the one I'm considering has town view. Thanks.

and truth - you really think PH9 is worth $3.0 mil?????

PH41
No I absolutely do not, but because of the PH1 comp I believe someone would/will pay fairly close to that.

realdeal
You'd get to live in the same building as Peter Parker's best friend Harry did and maybe catch the Green Goblin flying home.

On a side note, if I ever decided to buy an investment studio, it would probably be in Tudor City. It's cheap enough for positive cash flow, near GCS and at the bottom tier for minimum rents in lower manahattan making it not difficult to rent in most economic environments.

truth, how about an investment 1BR?

I lived in TC for many years and loved it. I was really interested in a 1bd here, but it needed a total renovation and I just wasn't game. I think the financials on this building are pretty good, better than a lot of other bldgs in TC. Good luck

>truth, how about an investment 1BR?

Sure if the numbers work but I'd stop there because I consider TC more of a manahattan entry level location for single suburbian immigrants from Queens and Long Island.
On studios, I know you can get @ $1700 per month and if you can buy one @ 250/270K, your fine.

I've been in 5TCP since August of 12 on an upper floor and love it. Great neighborhood and very convenient. Pro's for me have been cost for a 1br, proximity to transportation, quietness, really great staff and love the character. Con''s are somewhat high maintenance, one or two tenants that should be in an institution and eventual construction on 1st ave. I don't regret my purchase at all. I really love it here.