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Sale at 252 West 30th Street #3AB

Started by 300_mercer
over 8 years ago
Posts: 10570
Member since: Feb 2007
Discussion about 252 West 30th Street #3AB
Why has not it sold already? It is less than $1k per sq ft on foot print basis and renovated. Any issues?
Response by tribby
over 8 years ago
Posts: 36
Member since: Oct 2011

lot line windows and construction at the back might be the issues...not the nicest block either

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Response by ph41
over 8 years ago
Posts: 3390
Member since: Feb 2008

Love the 11'x13' "master bedroom- LOL, and the maintenance ain't cheap for basic service provided.
Also, mixed use - commercial/residential may turn people off

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Response by 300_mercer
over 8 years ago
Posts: 10570
Member since: Feb 2007

I just looked at the bathroom pictures. That explains it.

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Response by 300_mercer
over 8 years ago
Posts: 10570
Member since: Feb 2007

And looked at the building on Google.

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Response by karanc
over 8 years ago
Posts: 32
Member since: Jun 2012

The PPSF might also be misleading. 3,500 SQ/FT seems like an exaggerated estimate based on listed SQFT of similar lines in previous sales.

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Response by 300_mercer
over 8 years ago
Posts: 10570
Member since: Feb 2007

That is a good point. Other lines add up to below 3300 sq ft. So not really a bargain I thought.

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Response by 30yrs_RE_20_in_REO
over 8 years ago
Posts: 9878
Member since: Mar 2009

The square footage may be larger than you think because they took over the public hallway when they did the combination and added some footage. Back in the 1990's we sold a unit in that building to Michael Alig (although I don't think it's where the Angel Meledndez killing took place). That location isn't great, and a lot of traffic (you've got that Post Office facility 1 Ave to the West and it's on one of the exit routes fro the Lincoln Tunnel) for a low floor.

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Response by karanc
over 8 years ago
Posts: 32
Member since: Jun 2012

You are correct in that hallway square footage makes it larger than the sum of two units but not to the tune of 200-250 SQFT as would be the case here. Either way, I think we all agree that the apartment does not make for a smart purchase.

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Response by 300_mercer
over 8 years ago
Posts: 10570
Member since: Feb 2007

And there I was thinking it is priced well!! Thank you every one for their comments.

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Response by ximon
over 8 years ago
Posts: 1196
Member since: Aug 2012

Awful location, mixed-use building. Department of Social Services is next door.

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Response by 300_mercer
over 8 years ago
Posts: 10570
Member since: Feb 2007

No wonder it has not sold since 2011. What is the right price?

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Response by nyc_sport
over 8 years ago
Posts: 809
Member since: Jan 2009

Given that a 1/2 floor one floor above this unit is in contract off of a $2.75MM ask (and sold 3 years ago for nearly $2MM), there must be more to the inability to move this unit for 6 years.

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Response by 300_mercer
over 8 years ago
Posts: 10570
Member since: Feb 2007

I think the upper 1/2 floor is very nicely renovated looking at the pictures and is the front apartment. In any case, good luck to seller. Perhaps they will get their price.

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Response by karanc
over 8 years ago
Posts: 32
Member since: Jun 2012

Even with the inflated square footage, I do not disagree with the price. I think it is a fair ask. However, it seems you will be inheriting someone else's problem for $3.5M. I would steer clear.

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Response by 300_mercer
over 8 years ago
Posts: 10570
Member since: Feb 2007

I think fully renovated price is 4mm with Reno costing anywhere from 750k upwards plus trouble.

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