Sale at 349 West 21st Street #C

Because it lists "bigger" than it is.
It's showing 2 bed 1.5 bath.

THe 6 foot 11 inch wide 2nd bedroom hints at a very small apt all around.
The $1.095 for 2 bed/1.5 bath sounds good....but it's probably around 800 sq ft making $ per sq ft real bad.
Maybe some really creeky crooked floors as well.

With 95 saved users on SE, it's safe to say the market got a good look.

In part it's a nice place. Then there is that alleged second bedroom that has no access to the full bath which is in the other bedroom. Drop the price below mansion tax million and list as a nice 1 bedroom with office and there you go.

Geez, look at the floorplan for the other apartment in contract in that building.

http://img.streeteasy.com/nyc/attachment/show/1334444-349-west-21-street-manhattan.gif

Early open houses were flooded with traffic.

ali r.
DG Neary Realty

The penthouse portion of the building sold for 1,267,500 with a $1645 a month maintenance a year ago.
With a $1211 maintenance, at some point this apt was valued at 74% the value of the penthouse.
But assume the penthouse maintenance is up 5% from last year, or to around $1730 a month.
(1211 divided by 1730) So more a 70% difference.

So I'd be looking in the $887K neighborhood (1,267,500 X 70%) but add how much the market has been up in coops of this type from a year ago as a very rough starting point to go up or down from.

Yes but did the penthouse have such a ridiculous layuout? I think it's a mid 900s price point. Especially now that it feels "stale" on SE.

>Especially now that it feels "stale" on SE.

Bad cat food.

For what it's worth, my apartment is very similar to this one. It's on a very similar, very nearby block. It has a similar configuration -- 1 bed + office that can't really be a bedroom / 1.5 bath. It's in a small, no-amenity brownstone in good condition. Apartment condition is similar or better -- probably better, given the carpet in this unit.

We appraised for $1.1 million.... with a 300 square foot private roof deck, a separate 50 square foot terrace, Empire State Building views from most rooms, and a full-size washer/dryer.

As an owner in the immediate neighborhood, I hope the sellers get $1.1mm, but I think $850k-$900k is about right for this place. I'm extremely familiar with the area, and I can't see anyone with $1.1mm to spend choosing this place, as charming as it is, over the other inventory in the neighborhood at this price point.

It's probably getting traffic because two bedrooms in this price point in this neighborhood are rare. Except it's just not a functional two bedroom. When I was looking in this market in this neighborhood (which I did for three years!), this is exactly the type of place I would've toured to see if there was any possible way I could make it work. I'd think about places like this for weeks, trying to find the magical solution that would take this place from "almost" to "just right," except I'd always realize it didn't exist.

Good luck to the sellers -- I'd suggest marketing it as a one bedroom v. two. Position the extra room as a "bonus."