Sale @ 30 Lincoln Plaza #16E

My comments are you can get more space and more modern finishes for that price (or even brand new construction), but clearly you are paying for the location...

Thanks for the feedback - do you think it's priced correctly for the location?

1.475M for 674 sq ft, in an apartment that, as CCL3 said, does not have top of the line finishes? A post war building from 1979? The place is grossly overpriced.

I'm always amazed at the cubby holes people will squeeze themselves into for top $, to get a new condo with health clubs, swimming pools, and other amenities most will seldom use after the initial year or two. You'll spend much more time in your apartment then in the public space. Give me a 50 year old renovated co-op in a doorman building, in a good neighborhood, for twice the sqft at the same price. I guess it's the sizzle that sells the steak as they say. To each his own.

For family with kids , having on-site amenities are crucial! Esp in the winter. Having a gym or swimming pool also makes it more likely that one will use it.

Bluesky, we're talking about a 670 sqft apartment, I don't think kids are involved. PS, none of this is "crucial".

If it's priced correctly would depend on the comps...also keep in mind that the market has passed its peak and there's a lot more competition out there these days...I suppose you will find out based on buyer interest (or lack thereof) whether the price needs to come down.

@RENY, this isn't even a "new" condo. The finishes are dated and not "luxury" given the asking price of over $2k psqft. The common spaces look nice but the actual apartment needs kitchen and bathroom reno and if I were at it I would rip up the parquet floors.

plus the PTAC units...you can get something more modern with central air at these prices in say Hell's Kitchen which is not as "nice" a neighborhood but still walking distance to Central Park and Lincoln Center.

Interesting, out of curiosity, how much do those reno's cost on avg respectively? Kitchen, BR and Flooring?

Another 674 sq ft 1 BR (8U) sold for 1.3 in feb 2016...you can get a bit more for a higher floor, but the market has also cooled down a bit since Feb. I'd say 1.35-1.375 is a correct list price, and only that high because of the location of the building.

Reno cost depends on quality of finishes--kitchen, bath and flooring maybe $150k-200k, but there are other people on here with more reno experience than me.

it all depends on what materials you buy, there's a wide range. so can range from $50,000 for cheap materials to $200,000 or more for high-end materials. But there's also the cost of architect ($5000), getting approvals from Dept of Buildings, time spent planning, talking to contractors, talking to architects, choosing and buying materials, so add in 100 hours * cost per hour you want to assign yourself...

I wouldn't price it off of 8U because that contract was signed 2.5 years ago and was priced based on that - it didn't close until this year because of special circumstances - 15E, the unit below, sold for 1.51M 1.5 years ago unrenovated. Thank you guys again for all your help btw I definitely will take all of these suggestions into consideration!

http://streeteasy.com/building/the-alfred/11c seems better priced. more sq. ft. less expensive. has swimming pool too

It's interesting how things have changed in the past couple of decades. 20 years ago an apartment like this would have been touting "Condo with top of the line finishes". But with all the newly constructed condos with high end finishes being built, neither the Condo aspect (as opposed to Coop) or the finishes are unique any more.

30lincoln_1501007 hi there, just curious, what prompted you to change direction on your home sale? perhaps it's better to just hold and rent out given the market seems to have totally rejected your over 2000 ppsf pricing?