Sale at 345 East 77th Street #6I

Could you have done the same renovation for less than 25k? (probably not, considering carrying costs between post-closing and renovation completion). Not that there's a lot to renovate there.

They are trying to sell this with the 1 bedroom next door. Maybe the 1 bedroom sold on its own or they just want to discourage bids on studio alone. the combo is still listed as available for $750K, and honestly even with a gut renovation needed, a studio with a reasonable maintenance in a well kept elevator building for $275K is not unreasonable.

Perhaps they wanted to market the combo for a little while before deciding to do the renovation since it would have been wasted on anyone buying both.

Price of 275k seems high for a 200 square foot room. The down payment alone (not considering co-op liquidity requirements and closing costs) is 55k. Is this being marketed more as a pied-à-terre?

Aaron: you would need to spend 50 thousand to live on it properly. It's as original as the 1960s.