What does this low price say about midtown east?

Nobody except me wants to live there?

I think it is good at the price. The 1 floor is magnificent, another is good, but the rest are meh with rather low ceilings. Light situation is typically poor for a townhouse given surrounding buildings, not very wide.

Would I want to live there? Sure, everything has a price. LMK when it comes up for rent ;).

I want to live there!

The reno is very nice in line with the history except some of the bathrooms need an update. The real issue is that first floor was really legal basement/garden level at some point of time and that is now the living area without tall ceilings. 2nd floor seems to have higher ceilings where the music room is. But overall price seemed to be in the fair range, given the mid-town locaton, slightly less than 20 foot width and a lack of elevator for 5 floors. No wonder it went into contract quickly.

$7m is low price? Not that many people have 7m to spend on a house.

Love the unique details and non-boring renovation. While i would prefer fewer stairs, I would definitely enjoy living there.

Krolik, Think per sq ft price with some allowance for outdoor space. Very reasonable. If this were to be in Greenwich or West Village, it could be double.

Look at this for example. Past sale $17mm plus.

https://streeteasy.com/sale/1651877?featured=1
https://streeteasy.com/closing/10669375

Yes midtown east offers better value and village is overpriced.

Interestingly, both houses pay 10x more taxes than similar houses in BK.

Krolik, Manhattan townhouse taxes seem to be in reasonable range. BK prime townhouses are clearly too low.

While I'm not wild about midtown east, I make a distinct exception for Turtle Bay Gardens. The programming of the house is a bit odd, but manageable. It's pretty close to move in ready, if you're ok w/ the bones.

vs
https://streeteasy.com/listing?building_idstr=245-east-52-street-new_york&id=1663305&

This one has a lot more cuts to come.

Yeah, that’s not gonna happen…

Usable space (625 sq ft per floor being generous) is just too small relative to gross square footage and there is no scarcity value for a townhouse in that area.

OMG - Hard pass on 245 E52nd. Turtle Bay Gardens is special with a unique price point; 245 E52nd has no appeal for me and I actually love the neighborhood.

btw - I believe one of the Olsen twins is renovating one of the Beekman Place townhouses and taking it to the next level - literally. I don't know if they got a variance on height restrictions or if all the townhouses have always had the ability to build another floor. I am thinking those in the 7th floor and higher of 30 Beekman must be freaking out over losing river view.

re 245: Yes, hard pass. The multiple staircases kill so much interior space, and it's not a wide building to start with.