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Very low turnover, or is ACRIS missing info?

Started by Aaron2
about 12 years ago
Posts: 1698
Member since: Mar 2012
Discussion about
I was looking for info on a building which SE has virtually nothing on, and was surprised that ACRIS only shows 2 relatively recent sales (*), though they have online records back to the 1970s. Building is 820 Fifth Ave, and there are only 12 units, so it's possible there has been very low turnover since it went co-op (any idea when?). Would there be a way to keep a sale out of ACRIS? (* Big money: Lily sold her place to Ken and moved downstairs to Ara's old apt).
Response by ab_11218
about 12 years ago
Posts: 2017
Member since: May 2009

it's a 12 unit bld, typically people move in and get carted out. it's no surprise that there aren't many sales.

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Response by front_porch
about 12 years ago
Posts: 5316
Member since: Mar 2008

Rarefied air, that. My computer system says it co-op'd in 1949. You might enjoy this piece from realestalker:

http://realestalker.blogspot.com/2009/05/peep-into-and-poke-around-820-fifth.html

ali r.
DG Neary Realty

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Response by Aaron2
about 12 years ago
Posts: 1698
Member since: Mar 2012

Thanks! What a great article! So there clearly has been some turnover. I just wonder how they keep it out of the records? There are few other buildings like 820 that have no info in the 'official' sources (635 & 660 Park are others I'm researching).

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Response by NWT
about 12 years ago
Posts: 6643
Member since: Sep 2008

ACRIS has co-op sales only from 2004. There's also a spreadsheet of 2003 sales on the Finance website.

820 had two sales in 2003: 8th floor in February for $15,000,000, and 4th floor in October for $18,000,000.

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Response by pier45
about 12 years ago
Posts: 379
Member since: May 2009

Thanks front_porch great new blog to read.

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Response by Aaron2
about 12 years ago
Posts: 1698
Member since: Mar 2012

Very useful to know that co-op sales are only recorded post-2004. Agree with ab_11218 -- that crowd typically moves in and is carried out. No need to try to flip their current place if the market is rising. In the same apt since 1956. A rarity in NYC.

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Response by Triple_Zero
about 12 years ago
Posts: 516
Member since: Apr 2012

Aaron, if you haven't read the absolutely hilarious book on NY real estate, "The Sky's The Limit", by Steven Gaines, go do so. There's a section on 820 Fifth Avenue and the personages who have inhabited it.

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Response by drdrd
about 12 years ago
Posts: 1905
Member since: Apr 2007

http://thecityreview.com/ues/fifave/fif820.htm Here's some more color on 820.

Ali, when did the Dakota go co-op?

Happy Holidays!

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Response by front_porch
about 12 years ago
Posts: 5316
Member since: Mar 2008

Be careful -- realestalker is VERY addictive.

Dakota conversion was '61 I believe.

ali

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Response by drdrd
about 12 years ago
Posts: 1905
Member since: Apr 2007

Thanx, Ali. '61 was before 'Rosemary's Baby'.

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