What Do You Think About The Price Of This Condo

Can we reserve these message boards for actual messages? Instead of an extra outlet for selling real estate? That's what streeteasy is for...

I see nothing wrong with the posting, it's more relavant to Streeteasy than "how much to tip doormen" - which has received 47 comments so far. Personally looking at the pics and the comps, I think it's more a matter of timing, and not price. The holiday period is the worst time to have your property on the market.

The other apartment in the building for $699K, has been on the market for 316 days, and the one for $595K on the market for 407 days. I suggest you drop the price, unless you plan to be on the market as long as the others in the building.

I agree with the above assessment about dropping the price to get an offer. For the record, I'm not a broker, I rent currently in midtown and in the last two years bought two vacation properties outside of Manhattan. I think you should know for yourself what the lowest price is that you're willing to take on the condo and then price accordingly.

I think this is an interesting topic and deserves more feedback as long as the discussion is focused around price and doesn't deteriorate into broker babble.

Try 575k

How is the neighberhood?

nuggit

The holiday comment is true, I have a gorgeous brownstone for sale, and the open house traffic is pitiful, hopefully things will pick up after the holidays, the market really needs a boost.

What does "nuggit" mean?

I don't think nuggit is english - lol

Hey, anyone actually seen this property?, the pictures look good, but I'd like to hear from someone who's at least been to the building. Also a gym is important to me, is it possible to word that into the contract as a contingency?

I saw the property which is pretty good. Very well maintained and decorated. Nice enhancements too. Two problems though:
- close to MetroNorth railroad, therefore noisy and all right view from the apt
- building is clean but not great
Personally I would be interested if it was below $550K.

I drove to the block...saw the building exterior...but because of the area, I refused to get out of the car. I could not imagine getting walking from the subway to this building. And I would not pay half a million for a property in the middle of a hell hole.

I agree with previous post.

I've lived in this area for 2 years without a problem, I'm curious if it's a race issue. Is the "hell hole" comment poster white?, please don't misinterpret this as a rascist comment, just trying to understand the reasons for labelling the area a hell hole, please be a bit specific. And for the record, I'm a 34yr old, white female.

I don't think, it's a race issue, it's just that some New Yorkers haven't been north of 96th St. They like the concept of a 2 bedroom uptown, versus a studio midtown, but are scared to move. I have friends sharing apartments with roommates downtown, and for the same price, they could have their own apartments uptown. Some people are just comfortable following what's already been done. I've always done my own research made my own decisions. Instead of buying an alcove studio on the uws, I did my research, went to open houses, and ended up with a big 2 bedroom in Inwood.

We're going to see this apartment this Sunday, and we'd like to put in an offer, could someone suggest a figure they think the property is worth. We've already seen pictures, and we saw the penthouse apartment a few weeks ago, so we already know the building. If you have any insider information, that you'd rather not post on this comment board, you can e-mail me directly at Jennycold@gmail.com.

I looked at the garden apartments about 6 months ago with my wife and we came very close to buying one the first floor duplex units (offers were even on the table). At the last minute we decided to come back to the area at around 11pm to "walk around" and test the neighborhood. To make a long story short…no sale... we retracted our offer immediately.

Please ellaborate on the "short" story, what exactly happened?, and please list a price you think 5B is worth, since you've already reviewed the financials of the building etc. We're ok with the area, just need an opinion outside of the brokers involved, regarding price.

I got told by my broker that the construction infront of the building is going to be a parking garage, anyone know anything about this?, is there a way to verify this, besides going to talk with the construction crew.

I heard about the parking garage too, but from the lobby attendant.

The average pricing for similar apartments in the area is $608 per ft², so if you went by that, you could price this apartment at $563,000(608 X 926sf). But that doesn't take into account much besides the number of bedrooms, bathrooms, and square footage.

Is there a place for me to park my horse there

Sounds like you're planning to rob the Metro North - lol, now I have to watch a Western this w/end.

I think you guys should bid 570K, based on what I've read and the pictures. I'll have a better idead today, after the open house. I'm taking my girlfriend there, I have no intentions of buying an apartment, but taking her to open houses, really has a cool effect on her. It gives her the impression I'm ready to settle down, get married etc. Her eyes light up, and the rest of my weekend is pure bliss. A friend told me about this idea at work, and I thought he was kidding, till I tried it. He even takes first dates to open houses - lol.

Saw that in a movie once, can't remember which one though, anyone remember?

The real estate agent told us about the parking garage in front when we visited the apt a month ago. I would not put more than $550K for this apt. I am looking for a condo in Harlem. This neighborhood is not the best. But this is my personal opinion.

Wow! My 'hell hole' comment had no race attached to it. I am black and female. Relax people..hell holes are everywhere...it may be perfect for someone...but not for me!

...I am just at the point in my life where I don't want to live in another transiting neighborboods...been there. Done that.

***UPDATE*** - The price has been reduced to $570K, and the living and dining room furniture is inluded in the sale. Please see http://www.69East130.com for pictures.

--- Broker.

Is there going to be an extra charge for the gym, or will that be included in the common charges?

On the market for just over a month and already a $10k price cut, wow a sign of things to come if ever i saw it. I hardly think throwing in some cheap basic furniture will sway me, and neither should it sway any savvy buyer out there.

If anyone is serious about this property, i advise you to wait. 2007 will see coninued depression in transitional neighbourhoods like this. I wouldn't bat an eyelid at this place until it was closer to $500k personally.

I do agree with the poster above.
Here is another example showing that prices are falling:
http://www.streeteasy.com/nyc/sale/43577-condo-785-st-nicholas-avenue-central-harlem-new-york
5 weeks ago, the price was reduced by $58K. It is now advertised at $509K, meaning it can be negociated down to $490K ...

Good topic, should have more of these on here.

when reality hits the real estate market there will be a rude awakenig to all that are buying now, and the past few years. however,if you're in it for the long run (10 years +)you should be ok. this has been said before over and over again but the economic/dynamics are changing rapidly. let the buyer beware!!!
mort gauge

Ummmmmmmmm, huh?, what?- anyone else need an Advil after that? - lol

Sure are a lot of properties on "StreetEasy" pending sales.....
Seems like market is still moving along.

Serious buyers are buying, the dreamers are just watching as usual.

Thanks, Mr A Broker LOL

We just bought, UES.

Ummmmmmm, It's A Roker, expect lots of rain today - lol

Anyone going to or running an Open House this w/end?

Yes, there will be an open house for this apartment. Sunday 12/24, 1 - 3pm.

Um, call me wacky, but that is NOT a spacious living room, as described. And I am underwhelmed about the junkyard and Metro North tracks...YAWN!

Nice building, nice apartment, from what people are saying, sounds perfect for someone who drives, since you are right next to the FDR, garage etc.

Just wait one or two months and you may get it at $500K-$520K.

We need to move by Jan 30th, what's the best deal on a 2 bed Condo under $600,000 in Manhattan. Only interested in apartments with common charges less than $1000 per month.

Hey dude,
Why are you asking this question on this thread? Just use the search engine on this site. Look what I found: "Sales in All Upper Manhattan. We found 35 condos for between $400,000 and $500,000 with at least 2 bedrooms". Within another price range: "Sales in All Upper Manhattan. We found 52 condos for between $500,000 and $600,000 with at least 2 bedrooms". The best deal really depends on what you are looking for. I like the Rockwell condos at 785 st Nicholas street.

Real estate taxes on that is $523 per month!, no tax abatement.

Contact them to ask them. I talked to them and they told me they would get a 15-year tax abatement. You should go and visit that condo.

Already did weeks ago, not interested in that one, but thanks for the feedback. Have you been to any of the other apts in this price range?

At the Strivers North, you can find 2BR for less than $500K:
http://www.streeteasy.com/nyc/building/202-west-140-street-manhattan

Just looked at the pictures for that, like the appliances, and the layout of the kitchen, but the rest of the finish looks cheap, the floors, the blue and white bathroom. Very curious as to who likes that bathroom, do you?. Have you been to see the units in person, do they all look like the pictures, or do other apartments have other color schemes?

I went to see these units (saw almost all condos in Harlem in the past 6 months). The colors are in the blue tone as on the pictures. I think everything is all right. You cannot have the finish of the Ivy condos at this price range.

Thanks

We are showing Apt 5B at 69 East 130th St, this Saturday(12/30) 5 - 6pm, and Sunday(12/31) 1 - 3pm. See http://www.69East130.com for pictures and more information.

Anyone know for sure what the new construction infront of the building will be?

Find out the exact address and check on propertyshark.com

Thanks

$570k. I haven't laughed so hard since we saw that Ronald Reagan film.

Agreed. You can find a 2BR below $550K in Central Harlem, 116th.
Either you waste your time trying to find an uneducated buyer (do they still exist?) or you sell at a more reasonable price. I would submit an offer if the asking price was no more than $525K.

What's the best bet for a 2 BR under 600K?

orlando

When the market falls the first places to go downhill are harlem, brooklyn, etc. Why spend$550k in Central Harlem when it will be worth $350k in two years.

Open House today, 1 to 3pm, see http://www.69East130.com for pictures.

Are you asking 300k yet?

if the markets falls to the point where NYC is "cheap"
you most likely will be unemployed and oil will be at 200.00 a barrel.....

also Manhattan will declared a high security prison and roaming motorcycle cannibal gangs will terrorize the city, until a hero named Snake Pliskin will free the remaining citizens

the place looks tiny - i at first thought the kitchen sink was a bar sink. 500k might even be pushing it...

Have you seen the place?

No, just looked at the pictures.

25 year tax abatement on this building. I'm very interested in similar listings with low taxes. E-mail me directly at sandysbounty@yahoo.com. Looking for a 2bed condo, with at least 850sf, around $550K.

You can find 2BR condos with lower taxes. Go through the results of that search:
http://www.streeteasy.com/nyc/sales/manhattan/type%3AD%7Cprice%3A400000-600000%7Cbeds%3E%3D2?page=2&sort_by=listed_desc

harlem is awful, thought it had been gentrified since I hadn't been there in 4+yrs but nope, same old trash, chicken drumsticks, etc on sidewalks.

Interesting. I'm in Boston & we had some tenants who threw chicken bones & all sorts of things around the property & we get a lot of litter on the sidewalk, a lot of it from the bus riders, I think. Do we as a society need an anti-litter campaign? I love all races, it's bad behaviour I don't like.

Are we there yet?

try $1

to say that places like brooklyn will be hit hard is an assanine comment. harlem and brooklyn are like comparing apples and oranges. look at brooklyn heights look at park slope get a dam grip. this site could be and sometimes is great but its the morons that ruin it for everyone

this apt is almost in the bronx

Love #68's Snake P. comment. Laughed pretty hard!

How about Roosevelt Island??

Roosevelt Island condos have tax abatement. Also check out Mitchel Lama laws there, though.

Is Morningside Heights part of UWS or Harlem? In terms of pricing??

Morningside Heights is priced between "affordable" UWS and "nicer" parts of Harlem. Some better apartments on good blocks there command prices that are comparable to prime UWS.

I was thinking about buying an apt at 2002 fifth across the street from Mt Morris Park (ie Marcus Garvey Park). I drove by the other day and it was a total slum. I didnt even feel safe driving there and I was in a car! I can just imaging walking around there. Then I heard about the man being murdered in that park. If it is an up and coming neighborhood, I think it will be safe in 20 years minimum. Its a total warzone up there.

It's Harlem...people keep thinking crime, grime and slime has left the neighborhood but it hasn't.