Looks like this poor guy closed on his apartment March 12th 2020, just a few days before the city ground to a halt.
Original asking in 10/2019 was $2.9M, this owner bought it in 3/2020 for $2.35M.
Now it's back up for sale a year later... at $2.9M again.
Bedroom count magically increased to 2 bedrooms up from 1 bedroom, despite no floorplan alterations from previous sale.
Am I wrong to think $7400/mo maintenance for a 1 bedroom 2300sqft apartment is bonkers, even for the area and this kind of housing stock?
How long will this "price discovery" last, and where will it land?
Response by AnonMan2002
almost 5 years ago
Posts: 165
Member since: Feb 2009
also for rent for....wait for it... $15.5k. in his dreams
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Response by davenezia
almost 5 years ago
Posts: 132
Member since: Sep 2018
So you have to walk through the tiny "master suite" to get to the second bedroom? Or is that just a windowed dressing room (or maybe a baby's room). It's a great apartment, but really only 1 bedroom and seems outrageously expensive, but you guys here are the experts............... 30 years, what say you??
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Response by inonada
almost 5 years ago
Posts: 7952
Member since: Oct 2008
At which price?
2005 => $2M
2016 => $2.75M after likely major 2005-era renovation
2020 => $2.35M pre-COVID after minor 2016-era renovation
2021 => $3M post-COVID asking price
The first 3 seem reasonable, at market and what I would have expected. The last is a dopey asking price, the market is full of them.
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Response by bramstar
almost 5 years ago
Posts: 1909
Member since: May 2008
In the current configuration there is only one true bedroom (you can't count the 'master suite' as a proper bedroom since you need to walk though it to access the other bedroom). It should be listed as a 'study' or similar.
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Response by bramstar
almost 5 years ago
Posts: 1909
Member since: May 2008
Also 'master suite' has no window so not a legal bedroom.
also for rent for....wait for it... $15.5k. in his dreams
So you have to walk through the tiny "master suite" to get to the second bedroom? Or is that just a windowed dressing room (or maybe a baby's room). It's a great apartment, but really only 1 bedroom and seems outrageously expensive, but you guys here are the experts............... 30 years, what say you??
At which price?
2005 => $2M
2016 => $2.75M after likely major 2005-era renovation
2020 => $2.35M pre-COVID after minor 2016-era renovation
2021 => $3M post-COVID asking price
The first 3 seem reasonable, at market and what I would have expected. The last is a dopey asking price, the market is full of them.
In the current configuration there is only one true bedroom (you can't count the 'master suite' as a proper bedroom since you need to walk though it to access the other bedroom). It should be listed as a 'study' or similar.
Also 'master suite' has no window so not a legal bedroom.