$2,500+ per sq ft for this mediocre-at-best apt in a mediocre CPW building is the definition of delusional. The current buyers purchased (overpaid) for this apt 3 years ago in May 2015 for $3.625 million and, clearly, they were hoping to at least make a little bit of $ on the sale by pricing it at $4.15 million, which, in the span of 18 days, has been reduced a paltry 2% to $4.067 million. This is... [more]
$2,500+ per sq ft for this mediocre-at-best apt in a mediocre CPW building is the definition of delusional. The current buyers purchased (overpaid) for this apt 3 years ago in May 2015 for $3.625 million and, clearly, they were hoping to at least make a little bit of $ on the sale by pricing it at $4.15 million, which, in the span of 18 days, has been reduced a paltry 2% to $4.067 million. This is like slow moving torture and is definitely not the way to sell this place. Mr. Gepty, the broker from Compass, should talk some sense into the sellers and knock down the price. Otherwise, this listing will languish on for a long, long time.
As for the apt, I think mediocre is being very kind. The "views", if you want to call them that, are hideous, staring at brick walls a few feet away. Paying $4 million for torture. The bathrooms and kitchen all need to be renovated. The window A/C units look beautiful. Many hundreds of thousands in renovations and you'll still have to look at those brick walls.
So, what should 6R sell for? $2,000 per sq ft is being kind, then subtract the renovation costs and you get $2.8 million. Good luck sellers!!!
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Response by SteveFR
over 7 years ago
Posts: 74
Member since: Apr 2017
ethan....the key for the buyers out there is to find them properties where the price will be going up. That's what they really need. Find them properties to buy. Don't be the harbinger of doom be the harbinger of hope :)
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Response by Squid
over 7 years ago
Posts: 1399
Member since: Sep 2008
Yeah and what exactly makes this unit a 'rare find'? Seems pretty boring cookie-cutter to me. And the need to crane one's neck out the window to see the 'view' isn't exactly a selling point. Oh and that iridescent mosaic tile looks so 2015... *yawn*.
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Response by nyc_sport
over 7 years ago
Posts: 809
Member since: Jan 2009
A lot of turn over, and a lot of rentals in this building. But the fact that a similarly sized apartment one floor lower, albeit a worse renovation and layout and no park view (and perhaps generous on its square footage), is $1.1MM less and has been on the market for nearly a year does not bode well for this sale.
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Response by Ethan129
over 7 years ago
Posts: 157
Member since: Sep 2007
SteveFR, I am neither a harbinger of doom or hope. I only bring a sense of reality to delusional sellers.
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ethan....the key for the buyers out there is to find them properties where the price will be going up. That's what they really need. Find them properties to buy. Don't be the harbinger of doom be the harbinger of hope :)
Yeah and what exactly makes this unit a 'rare find'? Seems pretty boring cookie-cutter to me. And the need to crane one's neck out the window to see the 'view' isn't exactly a selling point. Oh and that iridescent mosaic tile looks so 2015... *yawn*.
A lot of turn over, and a lot of rentals in this building. But the fact that a similarly sized apartment one floor lower, albeit a worse renovation and layout and no park view (and perhaps generous on its square footage), is $1.1MM less and has been on the market for nearly a year does not bode well for this sale.
SteveFR, I am neither a harbinger of doom or hope. I only bring a sense of reality to delusional sellers.