40 East 78th Street #15A

It's sun-flooded and has good mojo, though. Which is nice.

Will get a very large chop - 30 percent?. Low ceilings, needs a reno at this price point, but has a narrow terrace.

Asking price would have been in line with nicely renovated apartments at 1900 per sq ft. So perhaps 20 percent discount from ask for Reno.

This is like 900 sq ft, not 1900 sq feet. This is like a 1 million dollar apartment. 20 percent off will not move it

I am taking a $500 per sq ft discount to $1900 finished price. $1400 per sq ft for un-renovated. 900 sq ft plus 50% of terrace. Call it 950 sq ft. Gets you $1.3mm plus. That is how I got 20 percent as reasonable ask. Obviously, it is unclear if there is still a 2/3 bed room premium over 1 bed room in the market.

Condo premium but yes it's high.

you never know how much crazy money there are

this will trade at less than 1.3. the market is that far down. in 6 months, market will be lower

1.1 is more reasonable

Ugliest PTACs ever. The virtual staging cleaned them up nicely.