Selling for less than 2007...

The thing which bothers me about the listing is that it states "Classic, contemporary renovations" but there isn't a single pic of the kitchen or baths.

If the apartment is selling for less than it did in 2007, you better run away from this property as fast as you can.

The fact that this place sold in 2011 for basically the same price also says a lot. 50% down and 2% flip tax might have something to do with it, but look at the sale history of this building and units have basically not appreciated at any point (6C: 2006 vs 2012; 6A 2004 vs 2010, 2C: 2006 vs 2012). So, land lease? Loss of exposures/light to new development?? Something is going on here

It is probably generally aversion in the market for high percentage down coops as there are plenty of other choices now and money is very cheap relative to say 2007. New generation of buyers just do not want to deal with a stuffy coop.

To add to 300's comment: every year the percentage of the market which is condo (vs Coop) increases. Back in the 1980s only 5% to 10% were condos.

agree with the above. no one wants to deal with a stuffy co-op board and restrictive purchasing rules. plus no amenities here, AND high maintenance. the common areas (hallways) are very old and boring and this building is basically marqued for demolition in 30 years the way things are going. younger couples want amenities and light and new buildings with views.

most of the upper east side has not appreciated or lost value during 2006 to 2017 with the pattern being:

2006 and 2007 - the high
mid-2008 to 2011 - the low
2012 to 2016 the recovery
2017-2019 the slide back to 2011 to 2012 pricing

late 2019 to 2020 - new lows again...

that's why the smart money is trying to sell now, especially since maintenance costs keep rising on the upper east irresponsibly.