Hey Malraux

Hi Yorick:

Interestingly enough, not me. I had looked very carefully at this property about two or so years ago (wanted to buy the entire building, which I thought the 'Church' was asking nothing for, with two partners, and flip it as-is, but my partners got cold feet - they're sorry now!). But at these asking prices for the finished units, I just didn't think the building had enough 'vavoom' (as an investment).

Looking at comparable apartments, I think the buyers of PHW got in cheap. Either that, or some of the other new dev asking prices need to come down by half.

These people are smoking crack:

http://www.streeteasy.com/nyc/sale/230830-condo-325-west-13th-street-west-village-new-york

I looked at that penthouse and I'm pretty sure Macdougal is worth at least 1.5x that. And then there was a similar unit I saw in Tribeca for $8m that was barely better than the Gansevoort.

I'm not big on regrets, but I might get a bit wistful when I walk by the Macdougal St. lofts. Damn.

I fully agree with you about 325 West 13th. Bad finishes (I think), building on either side shoehorning you in, a triplex to boot, no wrap terrace, so many bad choices working against it.

I don't think 173 PHW was 'cheap,' per se, but we're looking at it for different reasons - you to live in, me as an investment. There's a big difference. If it were the place I wanted to live in for a long time horizon, I'd have felt differently. I was wondering though - do you take PHW with the nice sunset views, or do you take PHE with its views over Washington Square Park? Also, why the $500,000 price differential between the two PH units at 173 - they're basically identical units (more or less), aren't they?

PHW is 70 extra square feet inside, 300 extra square feet outside.

PHW puts the hottub in the corner, where it belongs. PHE can't do so because of the elevator machinery -- that's some extra noise, too.

And yeah, having lived at 2 Fifth with sunset views for a brief time, I can definitely say I want to look west from there.

I'm surprised someone snapped up 5EW as a collective, but the PH units aren't selling as a pair. I don't like the term 'trophy apartment' much, but PHEW at 173 would have qualified.

Yeah, having the whole PH floor would've definitely rocked large.

Did you rent or own at 2 Fifth? How did you like living there (not location, but the building itself and how it was run, etc.).

Were the opening scenes of August Rush (the party where they met) filmed at 2 Fifth?

I neither rented nor owned -- I was living with someone who rented there. I know nothing about the workings of the place, and it was more than 15 years ago.

I've lived in the same Horatio St apartment on and off since I was a teenager in the mid-80s. But I just don't recognize the neighborhood anymore; it's time to find a new home. 173 would have been a great choice, but I'm cautiously optimistic that there will be others, perhaps at saner price points.