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Quick Math

Started by Ethan129
over 5 years ago
Posts: 157
Member since: Sep 2007
Discussion about 284 Fifth Avenue #PH
Buyers bought this around market top for $2.8. Asking $3.6 today. Nothing too special about this smallish apt. Many, many hundreds of thousands left to fall.
Response by ph41
over 5 years ago
Posts: 3390
Member since: Feb 2008

Well this is a case of the tail (the terrace) wagging the dog, and definitely the elephant on top of the building! Needs a very foolish terrace obsessed buyer

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Response by 30yrs_RE_20_in_REO
over 5 years ago
Posts: 9878
Member since: Mar 2009

The building isn't small enough that it's a guarantee, but there tend to be lots of arguments between the shareholders of outsize units WRT the rest of the building and the hoi polloi.

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Response by ph41
over 5 years ago
Posts: 3390
Member since: Feb 2008

Well this is definitely one of those

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Response by flarf
over 5 years ago
Posts: 515
Member since: Jan 2011

Lots of soot above the fireplace since the previous sale. The one wood burning fireplace I had in Manhattan had a horrible draw, it was really a bummer.

Air registers in the living room ceiling are gone too... wonder what kind of HVAC work was done.

Will be interesting one day when the roof under the brick terrace has to be repaired/replaced.

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Response by 30yrs_RE_20_in_REO
over 5 years ago
Posts: 9878
Member since: Mar 2009

And it only has to go about 10 feet.

That last thing would be a typical subject of my last comment.

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Response by ph41
over 5 years ago
Posts: 3390
Member since: Feb 2008

>flarf - our fireplace has a fan on the roof to draw smoke up and out. Without that I think the fireplace smoke would be pushed by the wind back down the chimney

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Response by ph41
over 5 years ago
Posts: 3390
Member since: Feb 2008

The control for the fan is in our living room, so it’s only turned on when we use the fireplace

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Response by bramstar
over 5 years ago
Posts: 1909
Member since: May 2008

If I had outdoor space like that in the middle of Manhattan I'd plotz. That said, there's no real view to speak of...

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Response by davenezia
over 5 years ago
Posts: 132
Member since: Sep 2018

One of the "bedrooms" doesn't have a window. Can that, therefore, actually be called a bedroom? Also, a few years ago I looked at an apartment at The San Remo and was told that the fireplaces had been altered so they couldn't be used, per New York City law. Is this correct? I see many apartments with a fireplace as a stellar amenity. They must have been wrong???

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Response by Aaron2
over 5 years ago
Posts: 1698
Member since: Mar 2012

And per the floorplan the bedroom without a window doesn't seem to have a door either, so maybe you need to get in and out via the skylight? Still, another apartment for the exhibitionist buyer, what with that outdoor shower.

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Response by ph41
over 5 years ago
Posts: 3390
Member since: Feb 2008

Years ago there was a whole thing at the San Remo re: fireplaces when Bono complained that smoke was getting into his penthouse. Seems there are only about 40 apartments with fireplaces in the building but they were saying that apartment renovations may have affected the flues.
Guess the easiest thing was just to ban using your fireplace!

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Response by truthskr10
over 5 years ago
Posts: 4088
Member since: Jul 2009

This apartment seems so familiar. I think it was on my radar in 08/09 as i was very much terrace centric.

Two things I recall.
One was very high maintenance though outdoor space tends to be allotted same cost as indoor.
And the neighborhood is(or was) generally maintenace cost over price per foot.

Two, lowest building on the block. That means your terrace is pretty much a glorified elevated backyard but with all the roof deck/terrace water protection headaches.

My fireplace has no fan, just one of those self propelled spinning turbine engine looking things. Ive never had any blowback smoke

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