St. James Tower, 415 East 54, questions re: building and making offer

This is my second request. Please does anyone have any comments on this? Thanks.

Your pricing rationale sounds okay to me. Good luck.

I'd take that number and then knock 20% off of it. Make sure you find out seller's situation. Are they looking to sell quick, did they buy recently, are they older, did they relocate, are they carrying two mortgages, is the place empty or staged. fairly easy to find out who owns the space through ACRIS.

I used to live one street away. It's a great neighborhood. I would pass by the doorman at St. James every day and he was always pleasant. I've looked at apts. there but always felt the maintenance was on the high side. I definitely agree with the above poster on trying to find out the owner's situation. I don't think it's a bad idea to put in a fair bid as long it is based on comps. I would probably go a little lower to give some room to negotiate. The response you get back should be telling. And unless it has some unique attribute (penthouse with skylights for example) - your rationale sounds good - I would also look at the sales/sf trend in the past 6 months as well...

Thanks very much everyone. Can someone tell me what ACRIS is?

ACRIS is the "online city register" which allows you to look up property documents for NYC real estate. Not every transaction is shown, but it's a good place to start. URL for website:
www.nyc.gov/html/dof/html/jump/acris.shtml

also try propertyshark for owner information, and also phone records (could tell you if they have a tenant)...

you can also look at streeteasy's old rental listings and see if the apartment you are interested in was listed as a rental, which tells you there could be a potential tenant...

and finally, once you make the offer, never underestimate the power of your broker potentially getting some more info from the seller's broker... some brokers just like to talk, if you know what i mean....

the prices are high here because its the top condo in sutton place
plenty of offers for every apt that opens up
kids are discouraged...we like it quiet