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What a beauty?

Started by 300_mercer
over 6 years ago
Posts: 10570
Member since: Feb 2007
Discussion about 248 Central Park West
Love it. Beautiful woodwork! 30, do you approve?
Response by 30yrs_RE_20_in_REO
over 6 years ago
Posts: 9878
Member since: Mar 2009

I like it personally, but I think the market is showing that buyers will pay more for properties which have had all their prewar details ripped out and replaced by "white box" details, even in brownstones (which seems absolutely crazy to me because to my mind the entire reason for buying in a brownstone is for the details).

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Response by 300_mercer
over 6 years ago
Posts: 10570
Member since: Feb 2007

True. If I had the money and need for such space, I would certainly stain the wood a little darker.

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Response by 300_mercer
over 6 years ago
Posts: 10570
Member since: Feb 2007

A big percentage of buyers for townhouse are looking for complete freedom which they can not get in even condos. Hence, less focus on original details.

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Response by 30yrs_RE_20_in_REO
over 6 years ago
Posts: 9878
Member since: Mar 2009

What do you think the actual square footage is?

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Response by 300_mercer
over 6 years ago
Posts: 10570
Member since: Feb 2007

As per the city records 9115. 20 foot wide lot. Hard to get to that from the floor plan unless you include basement which has a pool.

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Response by 300_mercer
over 6 years ago
Posts: 10570
Member since: Feb 2007

In contract!!

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Response by TeamM
over 6 years ago
Posts: 314
Member since: Jan 2017

Is it a website error or is it out of contract?

It's a very interesting property. Some wonderful things and some things I'm skeptical of. I am curious what it will sell for.

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Response by 300_mercer
over 6 years ago
Posts: 10570
Member since: Feb 2007

It seems that the status changed. Was in contract for a day.

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Response by TeamM
over 6 years ago
Posts: 314
Member since: Jan 2017

300 - what would you expect it to sell for?

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Response by 300_mercer
over 6 years ago
Posts: 10570
Member since: Feb 2007

This $ range is very hard to predict. The only knock on this property is that it is a little jammed at the back. The Reno is not for every one - I like it. All depends on how much the seller wants to sell. The taxes are pretty low. With the above caveats, I can see it selling for 5-20 percent below ask. The buyer will be paying low $2k per sq ft (call it 8000 sq ft) and there is no way you get a nicely finished condo for that price on a park facing low floor with low taxes in that location.

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Response by 30yrs_RE_20_in_REO
over 6 years ago
Posts: 9878
Member since: Mar 2009

The location is a bit of a wild card. Yes, it's on CPW but townhouses on Avenues - even good Avanues - are almost always a tough sell. And I think to a large extent how good the views are out the front are counteracted by how claustrophobic they are in the back: because it's not just that the garden is shallow at 25 feet, the next building's windows are at the lot line. So whereas a mid-block townhouse would likely have two 40 to 50 foot setbacks to the next house (one for each garden) totalling 80 to 100 feet (which is about the same as the building across a typical side street in the front), this is kind of "in your face."

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Response by 300_mercer
over 6 years ago
Posts: 10570
Member since: Feb 2007

30, So what price?

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Response by 300_mercer
over 6 years ago
Posts: 10570
Member since: Feb 2007

Back in contract.

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