What will they sell for - multiple unit comparison
Started by Aaron2
over 6 years ago
Posts: 1696
Member since: Mar 2012
Discussion about
Here’s an interesting comparison all on the market right now: four 1-BR co-op units, separate owners, separate brokers, all in the same 1964 traditional full service building (118 East 60th). Different floors, 3 floor plans are the same line, the 4th is the almost identical mirror image. Finishes are contemporary, and mostly equivalent in all of the units, a reasonable range of prices, evidence of... [more]
Here’s an interesting comparison all on the market right now: four 1-BR co-op units, separate owners, separate brokers, all in the same 1964 traditional full service building (118 East 60th). Different floors, 3 floor plans are the same line, the 4th is the almost identical mirror image. Finishes are contemporary, and mostly equivalent in all of the units, a reasonable range of prices, evidence of higher pricing for higher floor (view break is around the 13th floor). All with small balcony. 3E: ask $745k, maintenance $1645/mo, on market 97 days, one 4% price chop 9B: ask 700k, maintenance $1767/mo, on market 196 days, one 7% price shop 15E: ask 850k, maintenance $1819/mo, on market 2 days 17E: ask 995k, (in contract), maintenance $1819/mo, on market 197 days, one 5% price chop (some unique finishes) (found this while looking at the listing for 33H, which is a big duplex combination of 4 units in the building, and absurdly priced) [less]
Oops - 3E doesn't have a balcony.
I have to say the prices in this building see very reasonable. 9B given the lack of any renovation needs to come down more.
Fixing typo.
I have to say the prices in this building seem very reasonable. 9B given the lack of any renovation needs to come down more.
I think this is a good example of when you get a decent amount of supply and lose a sense of urgency in buyers.