Sale at 425 West 53rd Street #607

CCL3...Dec of 2015 is a lifetime ago in Manhattan real estate. Forget using comps 6+ months out, even 3 months is really pushing it. Basically with the historically low inventory in studios and 1brs a seller should just price based upon what is their competition right now.

1 BRs around the block from there at Griffin Court, built at the same time, are listed between 1m and 1.3m (all slightly smaller but still larger than 800 sq ft). If anything there are more 1 BRs available now due to new developments that have launched sales within the past 6 months.

Here's another one down the block in a better located building, not selling at 1.35m: http://streeteasy.com/sale/1227129
The listing is bonkers.

http://streeteasy.com/building/432-west-52-street-new_york/2f

This unit appears to be pretty cheap in a cool looking building. Does anyone have any thoughts?

http://streeteasy.com/building/432-west-52-street-new_york/2f

This unit appears to be pretty cheap in a cool looking building. Does anyone have any thoughts?

I have visited that building (432 west 53nd) but not that particular unit. They did a lovely job on the common areas and the finishes in the apartments are nice. However the layouts are very awkward, the kitchens are just walls with cabinets and appliances (though this is acceptable for a studio IMO) and the closets are tiny. Also many of the apartments have no street views and look directly across a narrow courtyard into brick walls, so not a lot of light. It is worth checking out in person to see if the apt has acceptable/views and light. The prices are also somewhat "reasonable" because there is no abatement and the taxes are on the higher side.