Selling the townhouse dream - again

Funny. I was looking at it two days back and square footage is completely made up. The buyer will take a loss.

I mean the current owner who bought a few years back to renovate and sell will take a loss. They overpaid.

#102 next door looks identical and was built by Peter Stuyvesant. My dermatologist lived in 102. He was also was Michael Jackson's dermatologist. Small world! One of the best streets in the EV.

The current owner bought it for $3.5mm in 2013. That is probably still the right price. Problem with the small footprint is that stairs and elevator will take up big chunk of the space and elevator is needed if you add extra floor. So you gain an extra floor but loose the same space across the floors due to an elevator. It is very nice at $3.5mm for some one who wants to update without adding extra levels or bells and whistles.

The house has a huge problem due to lot size. No matter what you do, the backyard will remain tiny which is a huge turnoff to townhouse buyers. In addition the small floor plate makes it impossible to squeeze 2 bedrooms of any decent size, a bath (much less 2) and a nice staircase (much less an elevator) onto a floor. If you want a decent staircase plus an elevator you end up with a 2 BR/3 BR house without a great living room. And what's the renovation going to run you all in? Close to $3 million?

I'm familiar with the issues because there was a house the next block over at 82 East 10th St which we tried to be purchase, then became an estate sale, the attorney handling the estate refused to communicate with us and sold it for less than our offer, and then things only got stranger what happened over the next 15 years until it eventually became part of the new construction project at 80 East 10th St.