Upper West Side up 13% in 3 years

No real discount for living above 97th?

hard to tell...but if 15D is the same floorplan, it traded for 750k in 2004. I personally consider 2005 to be the beginning of the mania so I'd consider anything back to 2005 as a 'bubble comp', though every apt is differnt so it is more of a 'guidline' than a 'rule'. How you view the relavancy of those comps is completely up to you.

The mania began in 2003, when they increased Wall Street leverage from 10x to 40x. Thence we go back.

Stevejhx
Who is "they"?

No second bathroom, and no place to put one. For the same money, you can get a better layout, location and building:
http://www.streeteasy.com/nyc/sale/212425-coop-515-west-end-avenue-upper-west-side-new-york

Are the brokers father and son?

"uncle" and "nephew"

I was recently awarded an Archie Bunker Award on this site, so I have to type things like that. My public demands it.

ew gross

West81st - price went down to $999K since you posted your comment - still think you can get a better deal for the same price?

since you asked.....http://www.streeteasy.com/nyc/sale/346352-coop-186-riverside-drive-upper-west-side-new-york...OK, it's my listing, but it is the same price, triple mint with 2 full baths...

and interesting that it was lowered at the beginning of the year, 5 weeks ago, to a good general price point, and still no contract.

If I had to spend a million dollars tomorrow on a UWS 2BR that's currently asking around $1MM, I would probably take Nan's listing at 186 RSD - despite its awful view - over 760 WEA #14D. There isn't a lot to like at this price point currently. 245 West 104th #6E is cute, and I like the Armstead a lot, but I think it's weird to build a big, beautiful kitchen and leave no good place in the apartment for a dining room table.

Right now, I wouldn't touch anything in this bracket unless I could negotiate it way down. With the classic six market in steep decline, nice fours and fives may get crammed into the 700-900K range before long. Better product that's currently around $1.1M, like 470 WEA #10F, will probably get to $1MM pretty fast, and can probably be had for that much today. Just my 2 cents.

245 West 104th #6E - it looks like every window faces a building. Nan's view may not be so awful ;)

uwsmom: I had gotten it into my head that the LR and second BR faced south across 104th, but I could be wrong. It wouldn't be much of a view anyway.

West81st - are you a broker? If so, please email me your information @ UWSapt09@yahoo.com - we're looking for one...
thanks.

west81st,

i completely agree with your assessment of the market for prewar 4s and 5s. if a small six can be had for little more than $1 million, i really don't see spending more than 800k for anything other than a truly great 4 (the ranks of which certainly do not include any of these apartments). i think it would be quite dangerous to buy this type of apartment right now given the downward march of the sixes.

Here's another example of the downward spiral among un-great 4s. Just reduced $100K, to $599K:
http://www.streeteasy.com/nyc/sale/358023-coop-255-west-end-avenue-lincoln-square-new-york
http://www.prudentialelliman.com/Listings.aspx?ListingID=1044432

Low floor, needs work, noisy bedrooms, no view from the public spaces. High maintenance too, if you read the fine print. Still, $599K for a 2BR/1.5BA on WEA and 71st is eye-opening, and that's still an asking price.

just a word on 255 WEA; I went to an open house last weekend. The apartment is truly in awful condition. I would conservatively estimate that it would require $100,000 is renovation just to make the kitchen and bathroom clean enough to use. That plus a rather high maintenance makes the actual price of this apartment significantly higher than 599,000

Toona: And you have to ask, in this market, why would anyone bother?

Ten days ago, UWSapt09 asked:
"West81st - price went down to $999K since you posted your comment - still think you can get a better deal for the same price?"

To answer the question from a slightly different angle, you can now get the same deal for a better price:
http://www.prudentialelliman.com/Listings.aspx?ListingID=998459

Wait - I guess that makes it a better deal. Anyway, just reduced to $925K.

Not many people wanna live that high in the 90's on the "upper west side"

Any thoughts on the two 3 BDs at 601 WEA listed in the 1.3 - 1.5 range:

http://www.williamandstone.com/brokerwebsite3/barak/listingview.asp?listingid=193422
http://www.corcoran.com/property/listing.aspx?Region=NYC&ListingID=1493561

What do you think the seller of awful 255 WEA 2A accept? (Too small for me but maybe for a special handy(wo)man, if s/he's up for it.)

Thinking_of_buying: I haven't seen those particular apartments. 601 used to be a nursing home - back when it was OK to call them nursing homes - so the interiors lack period integrity. Also, the maintenance runs high for a building of its class. If those issues don't bother you, 601 may offer relatively good value; but I think resale might be a concern.