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What will it sell for - 120 East 87th?

Started by 300_mercer
over 3 years ago
Posts: 10570
Member since: Feb 2007
The seller bought basic finished units for a total of appx $6.5mm a while back and gutted them.
Response by 300_mercer
over 3 years ago
Posts: 10570
Member since: Feb 2007
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Response by 30yrs_RE_20_in_REO
over 3 years ago
Posts: 9877
Member since: Mar 2009

That is NOT "white box condition."

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Response by 300_mercer
over 3 years ago
Posts: 10570
Member since: Feb 2007

Do you mean when they bought or right now?

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Response by Admin2009
over 3 years ago
Posts: 380
Member since: Mar 2014

Nice place , though it needs an upgrade

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Response by Aaron2
over 3 years ago
Posts: 1698
Member since: Mar 2012

Well, they claim they'll deliver it in white box condition, but why bother? (other than for bank loan requirements) Most of the box will have to be pulled part to deal with the owner's architect's idea of where infrastructure should go. I'm not a fan of the proposed floorplan at all (those columns in the middle of the gallery, no windowed baths, absurdly long hallway from the entry to the LR/DR, poor separation of public & private space. For the price, 'd look to renovate/update one of those 'old fashioned' UES coops (see other thread) before I'd take this on.

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Response by 300_mercer
over 3 years ago
Posts: 10570
Member since: Feb 2007

Aaron, I think broker is misusing the commercial real estate word "white box". She really means in strip down conditions shown in pictures without virtual reno.

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Response by 300_mercer
over 3 years ago
Posts: 10570
Member since: Feb 2007

Forgot to mention that the killer is high taxes and common charges relative to other units in the building after factoring in spectacular outdoor space.

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