Square Footage

Not the listing broker, and not making a representation, but FWIW I see 1999 interior / 387 exterior on a floorplan I've got floating around. (I can't put my hand on the offering plan right at the moment.)

ali r.
{upstairs realty}

2002 sq ft in the previous listing.

I searched high and dry for the condo declaration to see original square footage.
Found just about everything else instead.
As per the memorandum of lease, Whole Foods has been there since the conversion circa 1998/99 and has around 10 years left of lease control.
Also in '98 the purchase of the building from "The United States of America" as it was a federal building prior.
$41mm sale price with a paltry $165k NYS transfer tax, though the state and city have been making up for lost revenue since.

Rather small closets in the 2 lesser bedrooms, and unfortunate placement of dishwasher in relation to the sink (in fact, entire layout of kitchen could be improved). And put an automatic closer on the door to the powder room, unless you like seeing the porcelain throne from the LR (see photo 3). I wonder if the architect has ever even lived indoors?

By my measurements I come up with a very rough box of 54 x 37 = 1998 sq ft.
And basically subbing the protruding study/office and extra chunk of bathroom with the empty square at the bottom of the floorplan.

The outdoor space, 42 x 10 = 420 square feet. Though the view is likely not great, it is the most valuable version of outdoor space, a setback terrace.
Outdoor space when proportioned well to the total unit (and this one is) often ranges between 1/3 to 1/2 of the interior space's value. And particularly in our new pandemic era, outdoor space has never been at a higher premium.

The easiest way to do that is take 1/3 or 1/2 of the 420 square feet, and add that to the approximate 2000 square feet. Then use that as your multiple for price per sq ft.

That puts asking price between $2172 and $2244 per sq ft.

Still plenty high. I would look to the recent sale of 16b for some semblance of a comp at just under $1800 per sq ft.

While I have no view on the price, I think high quality outdoor space like this may be trading even the same as interior square footage post pandemic vs call it definitely at least at 50% of interior pre-pandemic.

Certainly some premium justified for being on the top floor. I took several ceiling noise reduction steps in my last gut renovation including isolation clips, spray foam, air gap, two layers of 5/8" drywall with green glue between and still hear some footfall from upstairs.

On the other hand, top floor means roof leaks, and even more so with skylights. Sure, it's the building's responsibility to maintain and repair, but still no fun when they happen and you're scrambling for pots to catch the water. Ah, fun memories.

My issue with the layout is the narrow third bedroom. Ten feet is where I draw the line. Even the moose looks sad that he's stuck in the smallest bedroom in the place.

Real problem with this apartment is being smack up against the neighboring building. Windows look directly at a building a few feet away and the terrace also lacks any sort of privacy.

Plus the glamour of East Chelsea has faded. It picks up when you get closer to Flatiron.

ph41
I agree, having looked at countless apartments surrounded like Custer, I used to say, "why is this more valuable than a ground floor backyard?"
And at that point, you might prefer a backyard with no leaks to a lower floor, no weight limits, portable propane grill cooking legal...hello.