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Another townhouse datapoint...

Started by TeamM
over 6 years ago
Posts: 314
Member since: Jan 2017
Discussion about 49 East 67th Street
Per the other thread on a townhouse datapoint. I will be interested in seeing the final price on this, but the fact that this one dropped so much before contracting has to be a wake-up call for other townhouse pricing. Good size, good location and a pool...
Response by 300_mercer
over 6 years ago
Posts: 10577
Member since: Feb 2007

Why does the skeptical me notice missing bathroom pictures, somewhat outdated kitchen and $12k in taxes?

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Response by sluox
over 6 years ago
Posts: 52
Member since: Jul 2013

This is a better deal than most of the condos at similar price point IMO. It's shocking it didn't sell for higher. The monthly tax thing is oppressing though...

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Response by 300_mercer
over 6 years ago
Posts: 10577
Member since: Feb 2007

All depends on what percentage square footage you assign to below ground space which has pool. Also, most 10mm+ condos come with much better view. So a hypothetical low floor 5000 sq ft condo in a similar location will be good comparison.

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Response by 30yrs_RE_20_in_REO
over 6 years ago
Posts: 9880
Member since: Mar 2009

It probably didn't help having to explain to potential purchasers that the pool was a coop unit in the building next door and what the implications of that were.
And what happens if the Coop rejects a purchase of the unit, or has a huge assessment for a facade repair, etc?

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Response by 30yrs_RE_20_in_REO
over 6 years ago
Posts: 9880
Member since: Mar 2009

Here's your large condo TH (with an interesting history)
https://streeteasy.com/building/american-thread-building/12c

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Response by KeithBurkhardt
over 6 years ago
Posts: 2987
Member since: Aug 2008

The pool is pretty impressive. That is a strange arrangement that a free-standing townhome has carved out a pool into the basement of a neighboring Co-op!? I'm going to guess the co-op has no say in who buys the town house. It would be interesting to see the terms of that arrangement.

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

Fair point that the arrangement with the coop may complicate things, so this may not be as it appears on its face.

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Response by 30yrs_RE_20_in_REO
about 6 years ago
Posts: 9880
Member since: Mar 2009

Finally in contract after 4 1/2 years on the market after dropping the asking price from $35 million to $16.5 million
https://streeteasy.com/sale/1294720

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

Any guesses on price? I'm going to guess $13.5mm

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