300 east 71st Is this a good deal.

It's helpful to paste the url like this:

http://www.streeteasy.com/nyc/talk/discussion/4919-300-east-71st-is-this-a-good-deal

Saw this place at an open house - thought it was a great space, esp. if you need the nursery/home office. (IIRC, the owners are leaving b/c they've got kids and have outgrown it). Kitchen needs a gut reno, bath could use some help, too. The whole place felt dark and heavy, but it's hard to see past the paint/furniture. Probably priced $25-30k higher than it should be, but it's a solid building. Just beware there will be a 2nd Ave subway stop at 72nd/2nd, meaning that intersection could be a construction zone around the time you'd be looking to sell...

or this even
http://www.streeteasy.com/nyc/sale/183863-coop-300-east-71st-street-lenox-hill-new-york

This is not a 2 bedroon -- it is a converted jr four -- seemingly not such a great deal

not at all .....

Does anyone have any info on building.

Apts like this are a dime a dozen on the UES and a ton that I've seen (with or without the added wall to make the dining area a bedroom) range from $625K-$675K. I see nothing in this one that suggests any kind of premium is called for. I think you can see from the pricing history of many incremental drops that the broker and/or seller are a little lost and refusing to hear the market tell them it is priced too high. Where there are so many apts of the same type on the UES, do your homework with comps.

As for the point that it is near a 2d Ave subway stop, I would run--not walk--away. From what I understand, the 2d Ave subway will be very deep underground and those building it runs by may feel a little rumbling during construction, but that is about it since boring the tunnel occurs entirely underground and doesn't involve the street or tearing things up. Those buildings, however, that are near the actual station stops, get ready: The construction will involve street level and be a MESS. To give you some idea, two elevators were recently installed in the subway station outside my building to make them handicap accessible. It took over 2 years, complete street and sidewalk closure, unbelievable noise outside, and progressed at a rate that made you shudder to think how much it was costing tax payers. And that was just two elevators. Imagine an entire station and infrastructure.

This project isn't unlike the St. Vincents reconstruction that is being contemplated vis a vis the surrounding buildings. The time to sell IS NOW. Once construction is imminent and you live too close to it, property value will take an enormous hit. People do not want to live in a construction zone for 10 years. On the other hand, if you can tolerate a construction zone, wait until the digging actually begins and snatch up an apartment at a fire-sale price.