Sale at 240 Riverside Boulevard #5G

'cause the seller won't get another shot at a fool for quite a while???

Puffery.

Only in NY could you pay $1.5 million for a one bedroom apartment that you may not be able to live in for years unless you pay sufficient "ransom" to get the tenant out. That's unique!

they are dreaming, just like this place being 1025 sq ft. find me the missing 125+ sq feet please.... oh ye, the playroom and the pool ;)

That price is about right. You may not think it represents value, but it is market.

Right, there aren't a lot of full-river-view one-bedrooms out there, let alone condos.

Closest is this wreck, where the price was increased after the first open house: http://streeteasy.com/nyc/sale/983116-coop-5-riverside-drive-upper-west-side-new-york

A lot less expensive, but it's a co-op requiring lots more cash down and for renovation.

I don't think I've ever seen a building with worse rent/buy ratios. This place screams rent. The sales absorption rate is also awful, and the tax abatement ends in 2016 and I'm assuming a 15-year with the increases all occurring in the last five years.

Check ACRIS

The numbers are right there on SE, along with time on the market for both sales and rentals. But hey, if you have anything concrete to add other than your ever-present cheer leading for the Trump monstrosities feel free to put them out there.

It's in year 8 of a 10-year 421a.

Taxes will jump 33% for the next two-year chunk, and then a final 25% to hit the 100%.

Thanks, NWT, that makes sense. 240 didn't seem that old to me, but there aren't that many 10-year new construction abatement periods.

AR, when does your tax abatement end?