The tale of 2 competitive apartments

I would wait. At this price point, it is less about price and more about finding the right buyer.

If an apartment is really "priced under market but not moving" you have to look at other factors than pricing.

I think 30 has good advice. Assuming appropriate marketing and time on the market, I think that Apt A might be misjudging the market. Apt B may also be misjudging the market.

I'm uncertain which apartments you're talking about, but if I've identified them correctly, then you're ignoring the fact that 1) Apts A and B are zoned for different schools (not commenting on the relative merits of these schools; just noting the fact) and 2) they have different noise levels. Do those factors make you rethink your pricing algorithm?

ali r.

Team M: apt. A has had a soft marketing plan (Streeteasy, NY times, usual suspects). But once Apt. B presented itself on the market, Apt. A marketing plan kicked into a much more targeted and focused plan. Only now, after sitting on the market for a while are people inquiring and coming because of the targeted marketing push.
Front Porch: both apartments are zoned for the same school, however the noise level might be a issue for apt. B since it is on a main street.
THe 2 apts I am talking are these:
Apt A: http://streeteasy.com/building/65-west-95-street-new_york/1c
Apt B: http://streeteasy.com/building/41-west-96-street-new_york/2a

Those are the two I was guessing; I just hadn't realized Apartment B, which used to be zoned for 84, had been rezoned for the upcoming year, probably as part of the UWS rezoning-palooza. Your query made me interested in them; I did skip today's Broker's Open House on B, though, because I had other commitments. FWIW, I'm not a big player and have gotten email marketing on both apartments.

Apt. A is a better apartment. On a quieter street. More gracious layout. Third bedroom is decently sized. I would be willing to pay more for Apt. A over B if I were in the market. So I would just wait.

" Only now, after sitting on the market for a while are people inquiring and coming because of the targeted marketing push. "
Sounds like it's time to fire the broker.

Looks like they both make the same renovation mistake reducing the size of bedrooms.

Actually, Apt. A used to be a 3 bedroom apartment that someone made into a 2 bed. . The master bedroom was ginormous and a terrible waste of space. It is now back to the original and still a nice size without feeling claustrophobic.

I have to say that I like apt 2a as no one really needs that large of a third bedroom (single bed / crib + desk and chair is all you need even for a teen). Larger living room is so much better. In addition, the third bedroom could easily be enlarged by moving the wall and reducing the size of the living room. That said, the difference between two apartments is marginal.