Apt #5 at 10 East 14th Street is priced at $4 million. If this place sells for more than the $2.85 million it sold for in 2007, I would be very surprised because it surely ain't worth more than that. Let's 1st start with the area. 14th street is not considered to be a "desirable" street to live on. It's packed with people for much of the day and this building is conveniently (or not so) located... [more]
Apt #5 at 10 East 14th Street is priced at $4 million. If this place sells for more than the $2.85 million it sold for in 2007, I would be very surprised because it surely ain't worth more than that. Let's 1st start with the area. 14th street is not considered to be a "desirable" street to live on. It's packed with people for much of the day and this building is conveniently (or not so) located very close to a Taco Bell and Wendy's which, if one is spending $4 million, is not really something that boosts an apts value.
The main windows face North over an always busy 14th Street which means that there is no natural sunlight in this apt. It also means that the nonstop traffic, noise and pollution from 5 stories below this apt is likely very, very bad. And buyers should be aware that beginning in early 2019 when the L train is scheduled to stop running for 2+ years, 14th street will be closed to all traffic except for BUSES!!! Which means that 14th will be turned into a "parking lot" of buses, with their exhaust fumes, 24 hours/day. I can't imagine the health impact from breathing in the bus fumes that will seep into this apt. Certainly a no no for babies/kids.
Apt 5 is currently a 2 Bedroom, not a 3 Bedroom listed in the ad. Is it possible to divide the Living Room into another bedroom? Probably.
The interior of this apt is very mediocre, certainly nothing even close to $4 million level.
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Response by Squid
over 7 years ago
Posts: 1399
Member since: Sep 2008
Unless my eyes are deceiving I see a 2-bedroom plus home office, not 'three-bedroom + home office'... And completely agree re: 14th st. It's immensely unpleasant. 4M definitely a stretch to say the least. The decor, though not my personal cuppa, is nicely done for this type of space, though.
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Response by 300_mercer
over 7 years ago
Posts: 10570
Member since: Feb 2007
Did you guys check what 6th floor sold for in 2013? Reno is very nice and appropriate for this space. Bathroom may be getting a bit old but it is not a new reno.
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Response by front_porch
over 7 years ago
Posts: 5316
Member since: Mar 2008
Much as a hate to risk the karmic payback of commenting on other agents' listings, I have to jump in and disagree here. I'm with 300 Mercer -- 6th floor sold for $3.995, and, while market seems softer than in 2013, taking this to market at the same list does not seem like a stretch. The displacement of L train riders is going to make 14th street more annoying for awhile, but it won't destroy the desirability of Union Square by any stretch.
Gah the photoshop of making the lights in the home office into little stars, though.
ali r.
{upstairs realty}
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Response by john81
over 7 years ago
Posts: 21
Member since: Mar 2018
Beautiful apartment, but as mentioned by Squid I don't see though as they can list it as a 3 bedroom +home office. This is a 2 bdr+ home office. There are so many apartments listed with an HO as "bedroom", wrong sq ft, wrong apt number etc. Depressing that with all the technology we still deal with this.
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Response by 300_mercer
over 7 years ago
Posts: 10570
Member since: Feb 2007
It is a not a legal 3 bed but with more than 30 foot wide living room, it is easy to add an additional bedroom. Most people will probably end up using interior room as an additional bedroom rather than diving the living room. There are multimillion listings of Soho lofts where all bedrooms are interior. This is the trade off with lofts. You get 8-10 foot tall windows, 12 foot ceilings, huge living room but not enough windowed bedrooms or light in bedrooms as they are typically close to another building. Loft buyers are familiar with the trade off and gladly make it.
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Response by 300_mercer
over 7 years ago
Posts: 10570
Member since: Feb 2007
Also, maintenance/cc and taxes are super low. Try that in a new condo.
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Unless my eyes are deceiving I see a 2-bedroom plus home office, not 'three-bedroom + home office'... And completely agree re: 14th st. It's immensely unpleasant. 4M definitely a stretch to say the least. The decor, though not my personal cuppa, is nicely done for this type of space, though.
Did you guys check what 6th floor sold for in 2013? Reno is very nice and appropriate for this space. Bathroom may be getting a bit old but it is not a new reno.
Much as a hate to risk the karmic payback of commenting on other agents' listings, I have to jump in and disagree here. I'm with 300 Mercer -- 6th floor sold for $3.995, and, while market seems softer than in 2013, taking this to market at the same list does not seem like a stretch. The displacement of L train riders is going to make 14th street more annoying for awhile, but it won't destroy the desirability of Union Square by any stretch.
Gah the photoshop of making the lights in the home office into little stars, though.
ali r.
{upstairs realty}
Beautiful apartment, but as mentioned by Squid I don't see though as they can list it as a 3 bedroom +home office. This is a 2 bdr+ home office. There are so many apartments listed with an HO as "bedroom", wrong sq ft, wrong apt number etc. Depressing that with all the technology we still deal with this.
It is a not a legal 3 bed but with more than 30 foot wide living room, it is easy to add an additional bedroom. Most people will probably end up using interior room as an additional bedroom rather than diving the living room. There are multimillion listings of Soho lofts where all bedrooms are interior. This is the trade off with lofts. You get 8-10 foot tall windows, 12 foot ceilings, huge living room but not enough windowed bedrooms or light in bedrooms as they are typically close to another building. Loft buyers are familiar with the trade off and gladly make it.
Also, maintenance/cc and taxes are super low. Try that in a new condo.