Sale at 25 Charles Street #5A

Re: Why so relatively inexpensive?

- 5th floor walkup?
- true 700sf?
- closet-sized bedrooms?
- rent controlled apt comes complete with tenant who will never leave?

What a deal!!!

"This is a rare opportunity to acquire one of New York City’s few remaining rent-controlled, tenant-occupied apartments"...
They try hard to make it sound nice but this is a problem... It s not rare to see discounts of 50% because of that...

^^^^^^There is the answer^^^^^

except it should be 250k

i guess forgetting to mention that rent is 1/2 of maintenance was just a slight oversight...... what a broker

Agree with West 34 and selyanow. And don't forget that once the tenant dies or goes to nursing home (because that is the only way they leave and God forbid there is a child/grandchild/niece/nephew etc who starts getting mail there and showing up once in awhile), it will require a full gut reno to make it 21st century livable.) I think the whole building is delusional, a 2br/1ba is going for $800K and its on the 6th floor! No amount of access to Marc Jacobs and Magnolia is worth that kind schelp for that amount of money. (In my humble opinion access to Marc Jacobs and Magnolia is worth absolutely nothing but I know there are those who disagree.)

Access to Marc Jacobs adds an approximate value of $.00001 to the apartment

>Access to Marc Jacobs adds an approximate value of $.00001 to the apartment

That's less than a Washer / Dryer http://streeteasy.com/nyc/talk/discussion/36380-wd-rule-impact-on-value