is this a deal?

I think it's got a lower price per square foot than some other apartments in the area -- but does that mean it's a "deal?" Depends entirely on what's out the windows. Looks like other second-floor apartments in that building have been on the market and withdrawn.

I am not a Murray Hill specialist so I can't comment further -- go and check the view and noise levels.

ali r.
{downtown broker}

noisy area, near the midtown tunnel entrance/exit.

Yeah, I hate that area - Much rather be 20 blocks south....

FP - Do you know anything about the Sage House On Lex in Gramercy Park - Seems to be some "deals" in there Sq ft wise... I want to stop by and check it out..

Oh, and I got you book!!!!

The same line sold in late 06 20% cheaper, on the 6th floor advertising a river view that this 2nd floor unit won’t have, not to mention the additional noise closer to the street. It also claimed an updated kitchen and bath (“move right in”) so condition shouldn’t affect the comparison much. The 6H listing shows the same floorplan but lists a closer-to-the truth 700sf. My math comes closer to 600; with outside walls, etc. I think it’s still less than 700.

The seller, however, overpaid at $413,600 in early 05 (4H went for $299k in Aug 04) before even doing the reno (the current listing says newly renovated). I’m sure the 35% requirement hurts at resale, especially with a 1br (1st time buyers) and a case-by-case policy on rich parents buying for children.

So, no.

It's pretty dark, basic renovations/appliances, 35% down requirement, not a particularly desirable neighborhood (although not bad)... I think it's fairly priced, but certainly not a steal. Also, 800 square feet is certainly a stretch, although no more egregious than any broker.