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?
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.
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!!
The renovation discount should be 1500 sqft x $500/sqft = $750,000
Can't remember the last time I saw plush carpeting.