What will it sell for?

Or the fact that it's been on the market for more than a year.

I think they started out at the wrong price. It is probably within 10-15 percent of where it will sell. Who wants the hassle and distraction of Reno and $400-500 per sq ft expense including carry cost?

Nice views and layout thankfully but I would not like to live in this area as noise and traffic must be a nightmare. Could there be a more crowded part of the city? "Easy access to major transportation including the E, M, & 6 trains"? I beg to differ.

300, I also would not be sure that this units does not need a renovation. Kitchen is dated and no pix of the 3 1/2 bathrooms. How much do you think might need to be spent for an upgrade?

It clearly needs reno. Otherwise, it would have sold at a much higher price. On the upgrades, if you go with good new development finishes, no way it costs less than $350 per sq ft plus carry and hassle to a person who wants full service contractor and architect.

I misread your earlier comments. So, $1,400-1,500 psf all-in? Maybe that makes sense but you had better want to live here for a long time in order to get your money back. No flipping this one, do you agree?

For example, a nice kitchen without appliances can be 70k from Italian or German Brands. There is plumbing, floor tiles, walls, and lighting in top of that. Architect will charge you another 15 Percent. So you are talking about 100k range for a nice kitchen.

The bathrooms I wonder more about. 3 1/2 new bathrooms might be $200k or more? All in, maybe $500-600,000 I am guessing, more if you really go crazy. Just wonder how to justify economically.

It would be at least $600k, if not $700k for a high end reno plus carry of 150k plus call it $150k distraction/risk/trouble. I think nicely finished price is 1400-1500 sq ft. Goes back to where I see apartments needing gut Reno trading - min $500 per sq ft discount. I think this will trade north of $2mm. It is a nice building with good bones.

So fully renovated you are in for $2,600,000 minimum which is less than $1,200 psf. Not so bad. But did you see 22M and 20M, both renovated sold in 2017 for $3.0 and $2.875 million, respectfully?

I am saying reasonable all in cost for reno is $1mm using full service contractor and architect. How do you get $2.6mm?

$2 mill plus $600k but you are saying $1mm including carry. Wondering if anyone would do this unless they really wanted a custom built home.

Re your comment on flipping. It is very difficult for someone to make money in NYC in flipping using full service contractor / architect, paying retail discounted prices and 10% round trip transaction cost without market going up at least 5% per year.

I think if wanted to buy in the building, $2mm is a good price. $1mm cost factors in trouble and risk for end-user. Flipping still would not work.

Looks like Bud Fox's unit...

Whatever I think is good value goes into contract. Unless the market is picking up.

Sold for $2.25mm and needs gut reno. It seems fairly prices properties sell.