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Sale at 61 West 9th Street #10D

Started by NWT
almost 13 years ago
Posts: 6643
Member since: Sep 2008
Discussion about 61 West 9th Street #10D
Here's an interesting attempt at a flip. Don't know whether that's the word, though, as the March buyer has done nothing to it except scrape the floors. 03/12/2013 Previous Sale recorded for $820,000. 06/27/2013 Previously Listed by Frank Ragusa LREB 07/02/2013 Previously Listed by Owner 08/10/2013 Listed by Douglas Elliman at $1,125,000.
Response by kylewest
almost 13 years ago
Posts: 4455
Member since: Aug 2007

There has to be a story here, right?

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Response by NWT
almost 13 years ago
Posts: 6643
Member since: Sep 2008

You'd think so, but maybe she just changed her mind. She'd sold her previous place (http://streeteasy.com/nyc/sale/345775-coop-140-west-end-avenue-lincoln-square-new-york) in March, too, so had to have gone and rented somewhere during the reno that never happened.

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Response by NativeRestless
almost 13 years ago
Posts: 236
Member since: Jul 2011

Kyle, you know the area really well so please tell me if I'm wrong. But a l bedroom, in quasi-wreck condition which maintenance over $1900 a month and no outstanding amenities for $1.12? Even in this market that sounds a little absurd. I have to be believe one can do better in that neighborhood and certainly going a little north/east/west.

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Response by kylewest
almost 13 years ago
Posts: 4455
Member since: Aug 2007

Native, it does sound like a lot. Granted, it is a prewar, in a good building so far as I know and in a desirable location for many. But kitchen is weird and if it needs work the new owner better be prepared to stay a while before selling. Inventory in area is non existent and buyers are doing whacky things with a sort of panic mentality lately. Prior price was low, but this offer price seems too high. Maintenance is above average unless utilities are included with storage locker too or something. Will be interesting to watch this sale.

Unbelievable how a buyer's market in GV has so suddenly and dramatically shifted to a seller's market with most units seeming to sell in under 45 days in the area immediately around the lower Fifth Ave "gold coast". Most buildings are experiencing a 25%+ increase in values from the lows. I am shocked, and admittedly pleased, to see what has been going on in my own building. Frantic purchasers is the only way i can describe it. Sellers are getting multiple bids at and above asking price in many many cases. GV is really hot right now. Would love to know the inside scoop on this i it's seller.

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Response by kylewest
almost 13 years ago
Posts: 4455
Member since: Aug 2007

I meant (in last last) "this unit's seller".

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