Sale at 462 West 58th Street #1E

Just write to the head of Corcoran to stop this BS.

I'll send a note to Barbara Corcoran. She can take care of it in between Shark Tank tapings.

Does she still have anything to do with the day-to-day operations of The Corcoran Group? I thought she sold out?

Send a note to corcoran's lawyer.

http://www.corcoran.com/nyc/AboutUs/ManagementTeam

http://www.corcoran.com/nyc/AboutUs/Display/503

If they do not respond or fix, Schneiderman.

Cc, looks like it changed to 1 bed!!

They haven't been able to move this apt since 2015, though they did just reduce the price again. What is a fair price for a nice 1 BR on the 1st floor with a big basement? Comp 1 BRs going at $1.1-$1.3, (but not on the first floor, and no basement). So what is the 1st floor discount, and then what is a fair add-on for the basement space?

CC,
You have a bigger problem at hand in form of taxes. If the condo offering plan has the basement included in the sq footage you percentage share will be very high. You have basement space with say 50% utility but paying full taxes. It is not possible to find a fair value unless you know unabated taxes. For 1 bed, it should be $800-1200. My gut feel is $1.4mm max for this apartment assuming taxes and CC are using basement space in the calculation.

Another data point, it sold for $1.37mm in 2011 and I think the buyer may have overpaid a bit.

The condo declaration does include the cellar's square feet. 1E's PCI is exactly proportionate to the ft². 2E is half the size of 1E in both ft² and PCI.

So you get to live with half your space underground, for all that money. Kind of like the slum-dwellers 150 years ago on the same street. Maybe somebody with a big toy-train set would like it, or somebody needing a kind of Silence of the Lambs setup.

Thank you NWT. Full of helpful info as always. So, it is not just taxes, it is maintenance as well you are paying for as useful space.

a) The actual current monthly taxes are $1,437, not $1,039,
B)There is $55,954 left on the exemption. The current full AV without the exemption is $189,736. At today's full AV and tax rate, the taxes would be $2,038 (if my calcs are correct).
C) This would yield a total monthly CC+RET of $3,790.

My bid just reduced to $1mm.