This sale has languished for 600 days. There are a few problems that I see, but I wanted to ask the larger group. 1. By offering a "Downtown Look" in a very Park Avenue building, they limit their buyer base. As the owner seems to have moved out, why not make it look a bit more like the uptown apartment that Park Avenue buyers want? I would think that they could easily resand the floors and take... [more]
This sale has languished for 600 days. There are a few problems that I see, but I wanted to ask the larger group.
1. By offering a "Downtown Look" in a very Park Avenue building, they limit their buyer base. As the owner seems to have moved out, why not make it look a bit more like the uptown apartment that Park Avenue buyers want? I would think that they could easily resand the floors and take out some of the bizzare column flourishes which probably distract buyers. Or would a buyer at this level be sophisticated enough to see through that and want to refinish their own floors? (I don't think there are any quick fixes for the kitchen.)
2. Where is the real floorplan? The proposed floorplan looks good, but it's hard for people to easily see the amount of work required when there's no point of reference.
Any other potential sticking points?
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Response by alanhart
almost 13 years ago
Posts: 12397
Member since: Feb 2007
ouch
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Response by Triple_Zero
almost 13 years ago
Posts: 516
Member since: Apr 2012
4 1/2 bathrooms? How many people are expected to live in this house at one time?
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Response by buster2056
almost 13 years ago
Posts: 866
Member since: Sep 2007
I wouldn't exactly call this a downtown look... "Downtown looks" usually implies something much cleaner and sleeker (i.e. no decorative mouldings, no herringbone floors, much cleaner millwork, no rustic kitchen, no formal library etc.). This to me looks a lot more like when people take a downtown loft and try to turn it into a Park Avenue apartment with hideous results.
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Response by NYCMatt
almost 13 years ago
Posts: 7523
Member since: May 2009
i want!!! i want!!!
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Response by NativeRestless
almost 13 years ago
Posts: 236
Member since: Jul 2011
600+ days on the market and no price reduction. Market has spoken. Value just isn't there. It is beyond "rather hideous" (although I do like the master bedroom in as pictured). One can assume that someone spending in the $10MM range for an apartment would consult a designer and/or architect about an apartment they were interested in so I have to believe people have balked at the cost of renovation when added to the price of the apartment. Location is great but I have to laugh at advertising the proximity to the Lexington Ave subway. Do we think those potential buyers at this price point take the train? Or is the point that its convenient for the help?
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Response by NYCMatt
almost 13 years ago
Posts: 7523
Member since: May 2009
Honestly people ... what is so "hideous" about this apartment??
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Response by nyc10023
almost 13 years ago
Posts: 7614
Member since: Nov 2008
Cheaper to rent at 32k.
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Response by inonada
almost 13 years ago
Posts: 7941
Member since: Oct 2008
Forget about $32K, it couldn't rent for $26.5K.
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Response by inonada
almost 13 years ago
Posts: 7941
Member since: Oct 2008
>> Do we think those potential buyers at this price point take the train?
Some do.
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Response by ph41
almost 13 years ago
Posts: 3390
Member since: Feb 2008
Possibly because it's been on the market a lot longer than 600 days. And was last listed by Elliman at a lot less asking.
3/12/2009 Listed by Douglas Elliman at $8,995,000.
08/11/2009 Listing is no longer available.
08/21/2009 Re-listed by Douglas Elliman.
05/08/2010 Price decreased by 12% to $7,900,000.
07/01/2010 Delisted.
Also, aside from all the other comments, this is the elephant on top of the building, with maintenance to match.
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Response by buster2056
almost 13 years ago
Posts: 866
Member since: Sep 2007
NYCMatt: Honestly people ... what is so "hideous" about this apartment??
Well, for one, there's no formica in the kitchen. No honestly, the apartment is currently hideous but can be easily dehideousized with a few minor tweaks - removing the furniture, changing the lighting fixtures, and editing out some of the over-the-top decorative column "flourishes." Otherwise it's a pretty nice apartment with a gracious floorplan, terrific bones, and great light and views.
I'm guessing the inactivity has a lot more to do with the $10M price tag and $9k / month rather than the "downtown uptown" current decor.
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Response by greensdale
almost 13 years ago
Posts: 3804
Member since: Sep 2012
They should make a PBS or BBC special about life in this apartment.
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ouch
4 1/2 bathrooms? How many people are expected to live in this house at one time?
I wouldn't exactly call this a downtown look... "Downtown looks" usually implies something much cleaner and sleeker (i.e. no decorative mouldings, no herringbone floors, much cleaner millwork, no rustic kitchen, no formal library etc.). This to me looks a lot more like when people take a downtown loft and try to turn it into a Park Avenue apartment with hideous results.
i want!!! i want!!!
600+ days on the market and no price reduction. Market has spoken. Value just isn't there. It is beyond "rather hideous" (although I do like the master bedroom in as pictured). One can assume that someone spending in the $10MM range for an apartment would consult a designer and/or architect about an apartment they were interested in so I have to believe people have balked at the cost of renovation when added to the price of the apartment. Location is great but I have to laugh at advertising the proximity to the Lexington Ave subway. Do we think those potential buyers at this price point take the train? Or is the point that its convenient for the help?
Honestly people ... what is so "hideous" about this apartment??
Cheaper to rent at 32k.
Forget about $32K, it couldn't rent for $26.5K.
>> Do we think those potential buyers at this price point take the train?
Some do.
Possibly because it's been on the market a lot longer than 600 days. And was last listed by Elliman at a lot less asking.
3/12/2009 Listed by Douglas Elliman at $8,995,000.
08/11/2009 Listing is no longer available.
08/21/2009 Re-listed by Douglas Elliman.
05/08/2010 Price decreased by 12% to $7,900,000.
07/01/2010 Delisted.
Also, aside from all the other comments, this is the elephant on top of the building, with maintenance to match.
NYCMatt: Honestly people ... what is so "hideous" about this apartment??
Well, for one, there's no formica in the kitchen. No honestly, the apartment is currently hideous but can be easily dehideousized with a few minor tweaks - removing the furniture, changing the lighting fixtures, and editing out some of the over-the-top decorative column "flourishes." Otherwise it's a pretty nice apartment with a gracious floorplan, terrific bones, and great light and views.
I'm guessing the inactivity has a lot more to do with the $10M price tag and $9k / month rather than the "downtown uptown" current decor.
They should make a PBS or BBC special about life in this apartment.