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30 East 65th Street Apt #9C

Started by nicesmile
over 6 years ago
Posts: 90
Member since: May 2016
Discussion about 30 East 65th Street #9C
This seems like a great unit that needs some love. Any input as to what price would be good value here?
Response by 30yrs_RE_20_in_REO
over 6 years ago
Posts: 9878
Member since: Mar 2009

I think this is another example of what I talked about in another thread: Coops in "good UES" location, but nothing really to speak of, with some hurdle to purchase (in this case only 50% financing allowed). Back in 2012, 7C sold for $2,875,000. I don't think there's a 3/4 million dollar difference in the renovation, and 2012 was far from the peak of the market. So certainly being out of favor with the market is playing a significant part. However as I mentioned in another thread, if you are willing to do a mid-end renovation I think in the very near future you will be able to find contractors who need work who will do jobs for substantially less than in recent history.

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

If you are looking for a long term home and do not mind a large downpayment, 50 percent down coops needing Gut Reno are the best value in this market. Reno cost including carry and brain damage / trouble / marital discord should get you a discount of $500 per square ft for a 2/3 bedroom apartment. If you have to replace landmark windows, another $100 per square ft. Construction material and finishes getting expensive!!

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Response by Anton
over 6 years ago
Posts: 507
Member since: May 2019

The renovation discount should be 1500 sqft x $500/sqft = $750,000

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Response by stache
over 6 years ago
Posts: 1298
Member since: Jun 2017

Can't remember the last time I saw plush carpeting.

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