chasing the market down: our favorite price choppers

There's more! He's a poker player, and also sprung for one of those condos behind the MGM Grand: http://lasvegas.blockshopper.com/property/16221316400/135_harmon_avenue/

Thanks, NWT. Interesting stuff.

420 East 64th Street #7ABC (Royal York): This well-executed 3BR/3BA combination finally cut through the building's inventory glut.
02/21/2008 Listed in StreetEasy by Royalton Realty at $2,800,000.
08/29/2008 Listed in StreetEasy by Halstead Property at $2,375,000.
09/02/2008 Royalton Realty Listing is no longer available. Last priced at $2,500,000.
11/24/2008 Delisted temporarily.
01/12/2009 Re-listed by Halstead Property.
01/12/2009 Price decreased by 3% to $2,295,000.
02/06/2009 Price decreased by 4% to $2,195,000.
04/23/2009 Price decreased by 9% to $1,999,000.
08/20/2009 Listing entered contract.
10/13/2009 Sale recorded for $1,825,000.

Just dawned on me, the poker boom overlapped the RE bubble. *There's* where some of that HELOC money went! Per my father, the easy-pickin's fish are gone and it's back to the old regulars now....

Holy crap, NWT: $1000+ a sq ft in the middle of the desert? I've now seen it all.

Great investigative reporting, giving West81st a run for his money...

1111 Park Avenue 2A. Sold for 43% less than original ask. Heard that this apartment had been in contract for $3.45 in '08 but cant confirm

03/14/2008Previously Listed in StreetEasy by Sotheby's International Realty, Inc. at $3,950,000.
04/18/2009Sotheby's International Realty, Inc. Listing is no longer available. Last priced at $3,500,000.
05/22/2009Listed in StreetEasy by Sotheby's International Realty, Inc. at $2,495,000.
06/17/2009Listing entered contract.
09/10/2009Listing sold.
09/10/2009Sale recorded for $2,225,000.
10/16/2009Listing sold.

410 Central Park West #6DE: Awkward, rear-facing 3BR combination closed for $920K, 38.5% below the original January 2009 ask. Judging by prior sales, that's a 2004 price for the "D" and "E" units separately, with no bonus for combining them.
01/06/2009 Listed in StreetEasy by Prudential Elliman at $1,495,000.
01/27/2009 Price decreased by 6% to $1,400,000.
01/28/2009 Price decreased by 0% to $1,395,000.
02/02/2009 Price decreased by 7% to $1,295,000.
02/11/2009 Price decreased by 8% to $1,195,000.
02/23/2009 Price decreased by 4% to $1,150,000.
03/04/2009 Price decreased by 9% to $1,050,000.
04/14/2009 Price decreased by 5% to $995,000.
06/16/2009 Price decreased by 2% to $975,000.
06/24/2009 Listing entered contract.
10/13/2009 Sale recorded for $920,000.
http://www.streeteasy.com/nyc/building/410-central-park-west-manhattan

So then, given that things at 15 CPW are selling nicely,(that $21 million PH) are the recent sales at 1CPW (#25A and #25B) (obviously not in the same neighborhood as far as comps but geographically close) )considered price choppers/successful lowballs? Is it strange that two apts next to each other both sold significantly lower than asking price?

CHOP CHOP CHOP
http://www.streeteasy.com/nyc/sale/387341-coop-315-east-69th-street-lenox-hill-new-york
09/05/2007 Previously Listed in StreetEasy by Halstead Property at $2,495,000.
02/06/2009 Halstead Property Listing is no longer available. Last priced at $2,100,000.
02/27/2009 Listed in StreetEasy by Prudential Elliman at $1,895,000.
07/17/2009 Price decreased by 11% to $1,695,000.
10/19/2009 Price decreased by 9% to $1,550,000.
Here we see the ask just 50K above the sale price on 09/14/2004 #PH-C $1,500,000
They have yet to unload this property even though they are plainly willing to turn the clock back.
w67...if you're out there....here we go!!!! You've been calling for some old fashioned pricing and here we are. 2003 could not be fair behind!
Love the sound of price cuts in the morning....CHOP CHOP CHOP....it sounds like............ Victory!
Some day.....my young lieutenant....this correction is going to end

charlie don"t surf!!!

Charlie? I don't get that. But my son has the cough from hell and it rears it's ugly head at midnite to 3 am, i'm busting my nuts to make sure my wife gets her rest before the big marathon. Let's just say I'd take sleep over sex at moment.

Falco, thatz what I'm talking about. 2003 prices perks my ears, 2001 prices will make me do the involuntary dog hind leg scratch and 1999 prices will make me dry hump the guest on the living room. Woooof! Wooof!

i'm looking forward to 1999ish prices but i don't know if i want to be partying with w67th when they're announced.

w67thStreet and AboutReady -- Having just returned to NYC after decades elsewhere, I'm delighted to hear your predictions. But when do you think those 1999ish prices are going to arrive? And what's the trigger?

wagner...my boys love it and it scares the hell out of the slopes

67 come on! " CHOP CHOP CHOP....it sounds like............ Victory!"....vague reference to Apocalypse Now?

The smell, you know that gasoline smell, the whole hill. Smelled like
[sniffing, pondering]
Victory. Someday this war's gonna end...

slopes, marco?...please explain

815 Park

08/26/2008Listed in StreetEasy by Brown Harris Stevens at $3,300,000.
10/23/2008Price decreased by 4% to $3,175,000.
11/13/2008Price decreased by 8% to $2,925,000.
06/04/2009Price decreased by 8% to $2,700,000.
06/26/2009Listing is no longer available.
10/02/2009Listing entered contract.
10/19/2009Delisted temporarily.
10/19/2009Sale recorded for $2,450,000.

'wagner...my boys love it and it scares the hell out of the slopes'
I believe it's a quote from the same movie.
Robert Duval explains the music during an attack on a N. Vietnam strong hold.

Just a little bit-o-americana

or I might be wrong and it has something to do with the folks in Park Slope.
If Brooklyn don't scare you......... nothing will.
Boo........... Happy Halloween
PC POLICE

43 Clarkson, PH
West Village

Down 50% in 14 months:

09/18/2008 - Previously Listed in StreetEasy by Brown Harris Stevens at $9,950,000.
05/01/2009 - Brown Harris Stevens Listing is no longer available. Last priced at $7,750,000.
05/15/2009 - Listed in StreetEasy by Corcoran at $7,000,000.
06/25/2009 - Price decreased by 14% to $6,000,000.
09/15/2009 - Price decreased by 8% to $5,500,000.
10/08/2009 - Price decreased by 9% to $5,000,000.
10/31/2009 - Listing entered contract.

No response to my post so I will humbly repeat it: So then, given that things at 15 CPW are selling nicely,(that $21 million PH) are the recent sales at 1CPW (#25A and #25B) (obviously not in the same neighborhood as far as comps but geographically close) )considered price choppers/successful lowballs? Is it strange that two apts next to each other both sold significantly lower than asking price?

7 West 96th street, Apt 18A/19A. Duplex with huge terrace overlooking central park.
http://www.streeteasy.com/nyc/sale/414404-coop-7-west-96th-street-upper-west-side-new-york

05/19/2009-Listed in StreetEasy by William B. May at $3,550,000.
07/31/2009- Price decreased by 8% to $3,250,000.
10/30/2009-Price decreased by 9% to $2,950,000.

2-family townhouse, sold for $4.7mm. listed as 7000 sf, but floor sizes semm to shift around in the listing quite a bit.

http://www.streeteasy.com/nyc/sale/91655-multi-83-east-2nd-street-east-village-new-york
06/13/2007 Listed in StreetEasy by Prudential Elliman at $8,400,000.
07/11/2007 Listing is no longer available.
12/27/2007 Re-listed by Prudential Elliman.
01/09/2008 Price decreased by 11% to $7,500,000.
02/14/2008 Price decreased by 2% to $7,325,000.
03/31/2008 Price decreased by 4% to $7,000,000.
04/24/2008 Price decreased by 4% to $6,750,000.
05/13/2008 Price decreased by 1% to $6,650,000.
06/04/2008 Price decreased by 2% to $6,500,000.
09/27/2008 Listing is no longer available.
12/09/2008 Later Listed in StreetEasy by Corcoran at $6,500,000.
10/02/2009 Corcoran Listing is no longer available. Last priced at $4,995,000.

if that was 2 east 83 st that would be pretty sexy

it's still HOT. but the following is sexier.

This sold for $2,572,499. "Spectacular Triplex Condominium Loft in Tribeca with 3300sf of interior space and 500+sf outdoor terrace." i believe it is both of the following listings, one 5/6S and the other PH. there's also a listing for just 5S. it's hard to tell, because some have pictures of a clearly renovated unit, and the PH listing discusses raw space. looks like something didn't get accomplished. for a $6mm reduction you could do some mighty fine renovating.

http://www.streeteasy.com/nyc/sale/386026-condo-16-desbrosses-st-tribeca-new-york
02/20/2009 Listed in StreetEasy by Prudential Elliman at $5,300,000.
03/31/2009 Listing is no longer available.

http://www.streeteasy.com/nyc/sale/359740-condo-16-desbrosses-street-tribeca-new-york
02/23/2008 Later Listed in StreetEasy by Halstead Property at $8,995,000.
10/24/2008 Listed in StreetEasy by Halstead Property at $4,850,000.
02/03/2009 Price decreased by 19% to $3,950,000.
02/27/2009 Listing is no longer available.
03/07/2009 Re-listed by Halstead Property.
03/10/2009 Price decreased by 24% to $2,995,000.
05/05/2009 Listing entered contract.
07/07/2009 Halstead Property Listing is no longer available. Last priced at $8,575,000.
10/25/2009 Listing sold.

i think i was wrong. i think 5/6s was renovated. PH may be 5/6n. not that it much matters.

AR look at this: 03/31/2009 #56S - $5,300,000 3 beds 3.5 baths 3,324 ft²
Active listing 16 Desbrosses Street #5S 3 beds 3,175 ft² $6,500,000
Sale on 10/20/2009 #5/6S $2,572,499
what could have sold?

falco, i'll have to look that up. a mess all around. somebody with greater patience with ACRIS who enjoys a good puzzle could have fun with that address.

here's a new one, a developer-directed auction. i don't know the details, but the opening bid is very low. 9C closed for $1,428,010 10/06. 16C and 14C closed fall '07 for $1.45mm and $1.3mm. listing says it's the last sponsor unit available. even if it were to go for the last listing price it would be a fair reduction from 2006.

http://www.streeteasy.com/nyc/sale/478386-condop-110-central-park-south-central-park-south-new-york
04/24/2008 Previously Listed in StreetEasy by Corcoran at $1,500,000.
10/07/2009 Corcoran Listing is no longer available. Last priced at $995,000.
11/12/2009 Listed in StreetEasy by David R. Maltz & Co. at $500,000.

AR- look at the CC charges, even if the unit sells at the opening bid, your monthly cost is over $5500 the rental in the area is $1000 less why would you buy this? The building is nothing special, boutique building, and the monthlies are steep.

dledven, this is a chop thread, not a should you buy thread. the other similar units all sold for over a million, and this is presented at least at $500k.

i wouldn't touch it. but CPS has never held any appeal for me, rent or buy.

239 Central Park West #5C: Large, renovated, rear-facing six in a second-tier CPW co-op that soared during the bubble and struggled during the downturn.
07/28/2007 Listed in StreetEasy by Prudential Elliman at $3,300,000.
10/22/2007 Listing is no longer available.
10/05/2009 Listed in StreetEasy by Brown Harris Stevens at $1,950,000.
11/16/2009 Price decreased by 5% to $1,850,000.

The 2007 joint offering of #4C and #5C for $6.6MM is one of the stranger artifacts of the bubble. #4C, which was the lesser of the two apartments, closed for $1.7MM on 7/1/09.

...and 3C is in contract with a listed asking price of less than that...

Nice one west...yeah I heard the siren call of the duplex trades at 1+1=5 trade... all the time... at least the Bubble was good for laughs..now I've got a million stories to tell my grandkids.

IMHO, thatz a GINSU CHOP!!!!

Nan: Turns out your #4C sale was better than we thought, even if it closed for half of Elliman's original ask.

http://www.streeteasy.com/nyc/sale/157516-condo-303-greenwich-street-tribeca-new-york

This doesn't quite qualify as a chopper, unless we're counting post-closing choppers. As I'm not an insider my information is only partial, but it looks to me like someone really took a bath on this place. Listed for $980k in November '07(love the broker spiel, which clearly worked: "One Bedroom Tribeca Apartment for under a MILLION!!!") and closed March 2008, presumably for close to ask. Went back on the market a year later for $850k, taken off the market and relisted for $799k and then $699k. Finally sold for $650k in September '09. It also seems to gain and lose 52 square feet in the process. Assuming the '08 buyer paid close to ask, that's $300k vaporized. Ouch!

Would love to know the story on this place if anyone else has info.

Atelier 635 west 42nd street. #10M

Listed at $805k

Closed at $655k on 11/02/09

this really should be on the downtown comps thread. but doing comps in this building gives me a headache, so chop it is. good low ball candidate as well.

http://www.streeteasy.com/nyc/sale/344765-20-pine-street-financial-district-new-york
08/27/2008 Listed in StreetEasy by The Collection at $630,000.
04/25/2009 Listing is no longer available.
07/31/2009 Re-listed by The Collection.
10/24/2009 Listing entered contract.
11/12/2009 Sale recorded for $461,300.
11/15/2009 Listing is no longer available.

three units have actually closed in loft14. the PH, listed as res10, closed recently for $1.9mm.

http://www.streeteasy.com/nyc/sale/406717-condo-135-west-14th-street-chelsea-new-york
02/14/2008 Later Listed in StreetEasy, already in contract, by CORE at $2,900,000.
04/24/2009 Listed in StreetEasy by Prudential Elliman at $2,750,000.
04/25/2009 Listing is no longer available.
05/10/2009 Re-listed by Prudential Elliman.
09/22/2009 Price decreased by 16% to $2,300,000.
10/02/2009 Listing entered contract.
11/02/2009 Delisted by CORE. Last priced at $2,750,000.
11/05/2009 Listing is no longer available.

308 East 79th Street #PHW: Large six with huge terrace. Closed 43.5% below original ask.
05/01/2008 Listed in StreetEasy by Prudential Elliman at $3,495,000.
06/10/2008 Price decreased by 6% to $3,295,000.
09/09/2008 Price decreased by 6% to $3,095,000.
09/26/2008 Price decreased by 3% to $2,995,000.
11/07/2008 Price decreased by 7% to $2,795,000.
11/07/2008 Listing entered contract.
12/24/2008 Re-listed by Prudential Elliman.
02/27/2009 Price decreased by 7% to $2,595,000.
04/10/2009 Price decreased by 8% to $2,395,000.
06/24/2009 Price decreased by 8% to $2,195,000.
07/22/2009 Later Listed in StreetEasy by Brown Harris Stevens at $2,195,000.
08/19/2009 Listing entered contract.
11/10/2009 Sale recorded for $1,975,000.
http://www.streeteasy.com/nyc/sale/228314-coop-308-east-79th-street-upper-east-side-new-york
http://www.streeteasy.com/nyc/sale/439260-coop-308-east-79th-street-upper-east-side-new-york

320 Central Park West #6DE. Unusual 2BR/2BA at the Ardsley. Closed on 9/30 for $1.03MM, 43.7% below original 2008 ask, after two broker changes. ACRIS posting was delayed by several weeks.
03/07/2008 Listed by Corcoran at $1,830,000.
03/14/2008 Price decreased by 10% to $1,650,000.
07/28/2008 Price decreased by 3% to $1,595,000.
07/28/2008 Listing is no longer available.
08/10/2008 Re-listed by Corcoran.
08/20/2008 Delisted temporarily.
09/04/2008 Re-listed by Corcoran.
10/09/2008 Price decreased by 11% to $1,425,000.
10/26/2008 Corcoran Listing is no longer available. Last priced at $1,425,000.
11/07/2008 Listed by Brown Harris Stevens at $1,399,000.
02/04/2009 Price decreased by 9% to $1,275,000.
03/19/2009 Delisted temporarily by Brown Harris Stevens. Last priced at $1,275,000.
04/01/2009 Listed by Prudential Elliman at $1,195,000.
06/16/2009 Price decreased by 8% to $1,100,000.
07/14/2009 Listing entered contract.
09/30/2009 Sale recorded for $1,030,000.

50 Pine Street #11N

http://www.streeteasy.com/nyc/sale/360621-condo-50-pine-street-financial-district-new-york

10/29/2008Listed by Prudential Elliman at $1,750,000.
12/01/2008Price decreased by 3% to $1,695,000.
01/27/2009Price decreased by 6% to $1,595,000.
03/11/2009Price decreased by 9% to $1,450,000.
04/25/2009Listing is no longer available.
05/04/2009Re-listed by Prudential Elliman.
07/13/2009Price decreased by 4% to $1,399,000.
08/06/2009Listing entered contract.
10/28/2009Listing sold.
10/28/2009Sale recorded for $1,246,000

Apt_Boy - and don't forget the same unit previous sale. 29% below early 2006 is notable even in the midst of the train wreck that is Fidi. This would be worth posting on downtown comps as well.

04/07/2006 Previous Sale recorded for $1,751,000.

515 West End Avenue #4D: This light-challenged six was never as egregiously overpriced as many of the listings in this thread, and the 36% discount off original ask is hardly newsworthy. The striking thing about this was the way it tracked the market for over a year and a half, always staying just far enough behind to remain unsold.
01/17/2008 Listed by Stribling at $2,395,000.
02/13/2008 Price decreased by 4% to $2,295,000.
03/26/2008 Price decreased by 5% to $2,175,000.
05/01/2008 Price decreased by 5% to $2,075,000.
09/08/2008 Price decreased by 4% to $1,995,000.
10/02/2008 Price decreased by 5% to $1,900,000.
11/24/2008 Price decreased by 3% to $1,850,000.
05/05/2009 Price decreased by 5% to $1,750,000.
05/14/2009 Price decreased by 3% to $1,700,000.
08/08/2009 Listing entered contract.
11/12/2009 Sale recorded for $1,536,450.
http://www.streeteasy.com/nyc/sale/167396-coop-515-west-end-avenue-upper-west-side-new-york

10 West 66th #16D: Perhaps the third agency will be the charm for this perennial bridesmaid, which has been reduced 43.5% amid brutal same-line competition:
09/25/2007 Listed by Prudential Elliman at $3,100,000.
10/17/2007 Price decreased by 3% to $2,995,000.
03/22/2008 Listing is no longer available.
04/14/2008 Re-listed by Prudential Elliman.
05/20/2008 Listing is no longer available.
10/04/2008 Listed by Maxwell Jacobs at $2,300,000.
01/12/2009 Price decreased by 7% to $2,150,000.
02/10/2009 Price decreased by 7% to $1,999,000.
05/05/2009 Price decreased by 7% to $1,850,000.
10/27/2009 Listing is no longer available.
12/17/2009 Listed by Halstead Property at $1,750,000.
http://streeteasy.com/nyc/sale/484601-coop-10-west-66th-street-lincoln-square-new-york

BTW, the new price on #16D looks 2004-ish, but IIRC it needs a fair amount of updating.

http://streeteasy.com/nyc/talk/discussion/7516-my-neighbor-is-undercutting-my-price-please-help-building-at-10-west-66th-street

thxs westie... been awhile since i looked at those units..... OMFG..... talk about reaching for the moon. Well, when they get their cheese, it's gonna have alot of holes in them...

NO STOP TILLLLLL.............. 1999-2001. FYI 2004 prices ARE TOAST.

By now it is entirely clear that this seller has a poor relationship with Marilyn Korn. The fact that they can go through three firms and not use the one that dominates that building is telling. As a buyer I'm not fond of it when one broker dominates a building. The information flow is too controlled. As a seller there are few reasons NOT to use them.

how is 16d "rarely available" if 20d was on the market for that long at the same time. the term rarely available needs to be banned.

1199 Park Avenue #19DE: eight rooms plus big terrace, sold 34.3% below original 2008 ask.
02/22/2008 Listed by Gumley Haft Kleier at $4,200,000.
04/03/2008 Price decreased by 7% to $3,895,000.
05/14/2008 Listing entered contract.
10/08/2008 Listing is no longer available
04/21/2009 Listed by Gumley Haft Kleier at $3,175,000.
05/27/2009 Price decreased by 7% to $2,950,000.
08/11/2009 Delisted temporarily.
09/21/2009 Re-listed by Gumley Haft Kleier.
09/21/2009 Price decreased by 3% to $2,850,000.
10/13/2009 Listing entered contract.
12/14/2009 Sale recorded for $2,760,000.
http://streeteasy.com/nyc/sale/405977-coop-1199-park-avenue-carnegie-hill-new-york

10 West 66th #16D: the perennial bridesmaid:
Next up: Please make offer; free flatscreen tv delivered to purchaser after closing

ouch, ouch, ouch, ouch

Speaking of 10 West 66th, there was enough seller anguish there before a data entry clerk at DoF fat-fingered the closing price on #31E:
07/03/2008 Listed by Marilyn Korn Real Estate at $2,295,000.
10/20/2008 Price decreased by 4% to $2,195,000.
02/26/2009 Price decreased by 9% to $1,999,000.
05/07/2009 Price decreased by 7% to $1,850,000.
08/22/2009 Listing entered contract.
11/16/2009 Sale recorded for $1,000,000.
http://streeteasy.com/nyc/sale/317383-coop-10-west-66th-street-lincoln-square-new-york

This sale caught my attention because nobody - NOBODY - has paid exactly $1MM for a property in New York since the advent of the Mansion Tax. The real price, as is clear from the transfer tax amounts on the filing, was $1.75MM.

5 Riverside Drive #3C: A long-suffering estate sale finally closes, 36% below the original ask.
04/02/2008 Listed by Brown Harris Stevens at $1,795,000.
05/13/2008 Price decreased by 8% to $1,650,000.
07/07/2008 Price decreased by 6% to $1,545,000.
08/25/2008 Price decreased by 3% to $1,495,000.
11/04/2008 Price decreased by 6% to $1,399,000.
01/01/2009 Price decreased by 11% to $1,250,000.
03/05/2009 Price decreased by 6% to $1,175,000.
05/01/2009 Listing entered contract.
06/28/2009 Re-listed by Brown Harris Stevens.
08/13/2009 Listing entered contract.
12/14/2009 Sale recorded for $1,142,500.
http://streeteasy.com/nyc/sale/211829-coop-5-riverside-drive-upper-west-side-new-york

500 West End Avenue (Maisonette).
05/23/2008 Listed by Corcoran at $4,175,000.
09/04/2008 Price decreased by 5% to $3,950,000.
09/29/2008 Price decreased by 9% to $3,600,000.
10/17/2008 Price decreased by 4% to $3,450,000.
11/20/2008 Delisted temporarily.
07/21/2009 Listed by Prudential Elliman at $3,275,000.
09/22/2009 Listing entered contract.
12/07/2009 Sale recorded for $2,800,000.
http://streeteasy.com/nyc/sale/438773-condo-500-west-end-avenue-upper-west-side-new-york
The sellers paid $3.125MM in 2006.

3C seems even longer than 20 months.

The heirs should be happy (though I suspect they aren't) considering 7C went for nearly $1.4M in 2005, and that was renovated with a full river view.

152 East 94th Street #3J: Urbandigs/Noah gets it done around $550/SF, 37.3% below original ask.
10/22/2008 Previously Listed by Corcoran at $1,300,000.
01/23/2009 Delisted temporarily by Corcoran. Last priced at $1,100,000.
02/13/2009 Listed by Halstead Property at $985,000.
06/01/2009 Price decreased by 9% to $899,000.
07/20/2009 Listing entered contract.
12/14/2009 Sale recorded for $815,000.
http://streeteasy.com/nyc/sale/384328-coop-152-east-94th-street-carnegie-hill-new-york

wow. high end is getting crushed

Go Noah! Actually, that doesn't seem like a bad deal, all told.

lmao. who doubted me when I said $500psf? prime nyc? and why'd ppl pay $800 psf to be in LIC? or $2000psf to be on WEA on 60th?

well place needed a gut renovation -- kinda crappy block -- building not so nice --

w67: crystalball: when do you guesstimate we'll see $500psf?

$550psf by Noah on 94? I thought the cutoff was 96? ; ). No matter it's spreading from 96 down. Just let spring/summer '10 play out. I think there is another leg to go on the rental front...

The $550 is on a lower floor with a weaker seller. The stronger sellers have pulled thinking they'd get a pop post bonus. Me thinkz when these have to show their hands, $550 is from where I'd bid lower. Thereby you will get better unit at lower price. It's really so so so predictable.

This small two-bedroom/one-bath looks familiar (but don't they all after a while?) so may be up above somewhere. http://streeteasy.com/nyc/sale/319037-coop-230-east-71st-street-lenox-hill-new-york

07/12/2008 Listed by Prudential Elliman at $850,000.
08/05/2008 Delisted temporarily.
09/02/2008 Re-listed by Prudential Elliman.
09/13/2008 Price decreased by 4% to $820,000.
09/25/2008 Price decreased by 3% to $795,000.
10/21/2008 Price decreased by 7% to $740,000.
11/16/2008 Price decreased by 6% to $695,000.
01/05/2009 Delisted temporarily.
06/04/2009 Re-listed by Prudential Elliman.
06/04/2009 Price decreased by 3% to $675,000.
06/16/2009 Price decreased by 4% to $650,000.
07/22/2009 Price decreased by 2% to $635,000.
09/22/2009 Price decreased by 2% to $620,000.
11/02/2009 Listing entered contract.
12/21/2009 (Sale recorded at) $594,500.

Quirky but well-done combo in a favorite building finally sold: http://streeteasy.com/nyc/sale/386753-coop-40-50-east-10th-street-greenwich-village-new-york

11/14/2008 Listed by Corcoran at $6,400,000.
12/25/2008 Price decreased by 8% to $5,900,000.
01/21/2009 Listing is no longer available.
02/24/2009 Listed by Sotheby's International Realty, Inc. at $5,495,000.
05/06/2009 Price decreased by 10% to $4,950,000.
09/01/2009 Listing is no longer available.
09/09/2009 Re-listed by Sotheby's International Realty, Inc..
11/02/2009 Listing entered contract.
12/18/2009 Sale recorded for $4,318,000.

It first hit the market when the sellers paid $10M for an even-bigger duplex uptown: http://streeteasy.com/nyc/sale/87776-coop-875-park-avenue-upper-east-side-new-york

Didn't like that combo. Still sold for significantly more than the sum of it's parts.

I'm a sucker for steel casements, and like the wood paneling (but not the cornice) in one of the many living rooms. The staircase is nice, too, not built out of the same parts you see in every tract house.

5 unit building, harlem, they've managed to sell 2 units, this one at $413 psf. good times!

http://streeteasy.com/nyc/sale/464279-condo-30-west-126th-street-central-harlem-new-york

02/26/2008Previously Listed by Warburg at $799,000.
07/01/2008Warburg Listing is no longer available. Last priced at $725,000.
07/22/2008Previously Listed by Corcoran at $725,000.
03/17/2009Delisted temporarily by Corcoran. Last priced at $659,000.
09/19/2009Listed by Corcoran at $550,000.
11/13/2009Listing entered contract.
12/07/2009Listing sold.
12/07/2009Sale recorded for $425,000.

Saving Grace was that it was not a 50% haircut. Whew. Looks like the market has stabilized.

More than 50% haircut in Tribeca:

http://streeteasy.com/nyc/sale/360666-coop-39-worth-street-tribeca-new-york

10/29/2008 Listed by Brown Harris Stevens at $9,999,500.
01/14/2009 Price decreased by 20% to $8,000,000.
03/10/2009 Price decreased by 19% to $6,500,000.
04/23/2009 Price decreased by 8% to $5,999,000.
10/14/2009 Delisted temporarily.
11/10/2009 Re-listed by Brown Harris Stevens.
11/10/2009 Price decreased by 18% to $4,900,000.

Still "stabilizing" here.

43 West 61st Street (Sophia) #17M:
07/11/2008 Listed by Corcoran at $1,850,000.
07/22/2008 Price decreased by 3% to $1,795,000.
08/18/2008 Price decreased by 6% to $1,695,000.
10/17/2008 Price decreased by 7% to $1,575,000.
01/12/2009 Listing is no longer available.
06/09/2009 Listed by Brown Harris Stevens at $1,425,000.
07/13/2009 Price decreased by 4% to $1,375,000.
09/25/2009 Price decreased by 4% to $1,325,000.
12/29/2009 Sale recorded for $1,210,000.
The sellers bought the apartment in 2003 for $840K. They seem to have done quite a nice renovation, but not nice enough to justify a $1MM markup in a softening market.

43 West 61st Street (Sophia) #17M:
07/11/2008 Listed by Corcoran at $1,850,000.
07/22/2008 Price decreased by 3% to $1,795,000.
08/18/2008 Price decreased by 6% to $1,695,000.
10/17/2008 Price decreased by 7% to $1,575,000.
01/12/2009 Listing is no longer available.
06/09/2009 Listed by Brown Harris Stevens at $1,425,000.
07/13/2009 Price decreased by 4% to $1,375,000.
09/25/2009 Price decreased by 4% to $1,325,000.
12/29/2009 Sale recorded for $1,210,000.
The sellers bought the apartment in 2003 for $840K. They seem to have done quite a nice renovation, but not nice enough to justify a $1MM markup in a softening market.

43 West 61st Street (Sophia) #17M:
07/11/2008 Listed by Corcoran at $1,850,000.
07/22/2008 Price decreased by 3% to $1,795,000.
08/18/2008 Price decreased by 6% to $1,695,000.
10/17/2008 Price decreased by 7% to $1,575,000.
01/12/2009 Listing is no longer available.
06/09/2009 Listed by Brown Harris Stevens at $1,425,000.
07/13/2009 Price decreased by 4% to $1,375,000.
09/25/2009 Price decreased by 4% to $1,325,000.
12/29/2009 Sale recorded for $1,210,000.
The sellers bought the apartment in 2003 for $840K. They seem to have done quite a nice renovation, but not nice enough to justify a $1MM markup in a softening market.

With all that stuttering, I never posted the link.
http://streeteasy.com/nyc/sale/418936-condo-43-west-61st-street-lincoln-square-new-york

Anyone else notice that SE has been flakier than usual the past few days?

http://streeteasy.com/nyc/sale/448109-coop-167-east-61st-street-lenox-hill-new-york?email=true

08/27/2009 Listed by Sotheby's International Realty, Inc. at $1,950,000.
01/20/2010 Price decreased by 17% to $1,625,000.

I always find stuff in this building entertaining. Amazing price for this much space... until you look at the maintenance, which is around $3psf. I guess with that kind of maintenance, you can't afford to mess around with little chops, thus this 17% whack.

I can't even begin to think at what price this might actually be worth it.

That's the only Trump building that's a coop - it's a land lease, which turns off a lot of buyers once their lawyers look over the prospectus.

250 West 82nd Street #33: Ramshackle, turn-of-the-century 5BR/2BA with lots of original detail and lots of issues. BHS originally priced this apartment to capitalize on a shortage of family-size pre-war apartments. After the first cut or two, the price wasn't completely insane; a superficially similar (though actually much better) apartment on the seventh floor cleared for $3.175MM in mid-2008. #33 even went to contract before #72, but never caught up to the market after that deal fell through. The final tally: 48% off the original ask, after an agency change.
10/11/2007 Listed by Brown Harris Stevens at $3,900,000.
01/31/2008 Price decreased by 12% to $3,450,000.
03/08/2008 Price decreased by 13% to $2,995,000.
04/19/2008 Price decreased by 8% to $2,750,000.
05/20/2008 Listing entered contract.
07/30/2008 Re-listed by Brown Harris Stevens.
08/07/2008 Price decreased by 7% to $2,550,000.
10/26/2008 Delisted temporarily.
06/12/2009 Listed by Fenwick Keats Goodstein at $2,710,000.
07/09/2009 Price decreased by 8% to $2,490,000.
09/09/2009 Price decreased by 8% to $2,295,000.
01/12/2010 Sale recorded for $2,025,000.

983 Park Avenue #3C: Fine bones, fine building, bad timing.
06/20/2008 Listed by Corcoran at $6,500,000.
08/09/2008 Delisted temporarily.
09/14/2008 Re-listed by Corcoran.
10/27/2008 Price decreased by 8% to $5,950,000.
12/21/2008 Delisted temporarily.
02/24/2009 Re-listed by Corcoran.
02/24/2009 Price decreased by 12% to $5,250,000.
04/10/2009 Price decreased by 5% to $4,995,000.
05/16/2009 Price decreased by 7% to $4,650,000.
06/16/2009 Listing entered contract.
07/02/2009 Listing is no longer available.
09/02/2009 Re-listed by Corcoran.
09/02/2009 Price increased by 1% to $4,695,000.
09/29/2009 Listing entered contract.
01/14/2010 Sale recorded for $4,450,000
http://streeteasy.com/nyc/sale/309180-coop-983-park-avenue-upper-east-side-new-york

I saw all 3 apts at 250W82, 21, 72 and 33. Not sure why the buyers of 72 saw fit to pay over 3. And the other 2 didn't seem that decrepit to me.

Although #21 and #33 have nice details, they are basically caves. #72 was the only one of the three that I liked at all. I agree that $3.175MM was a nutty price in a building where the previous high was $1.5MM. Note that #72 went to contract in early June of 2008, when nuttiness was still respectable.

770 Park Avenue #14B: Closed 54.3% below original ask.
05/29/2008 Listed by Brown Harris Stevens at $10,950,000.
09/18/2008 Price decreased by 10% to $9,900,000.
02/06/2009 Price decreased by 24% to $7,500,000.
08/22/2009 Price decreased by 12% to $6,600,000.
09/27/2009 Price decreased by 10% to $5,950,000.
12/02/2009 Listing entered contract.
01/22/2010 Sale recorded for $5,000,000.
http://streeteasy.com/nyc/sale/264189-coop-770-park-avenue-upper-east-side-new-york

wow. talk about price discovery

329 President Street 53% below original asking (nice little price increase in 5/09???)
01/16/2008 listed for $3,600,000
03/04/2008 Price decreased by 17% to $2,995,000.
03/20/2008 Listing is no longer available.
12/28/2008 Listed by Vita Realty at $2,500,000.
01/30/2009 Price decreased by 9% to $2,275,000.
03/31/2009 Price decreased by 12% to $2,000,000.
05/11/2009 Price increased by 10% to $2,200,000.
07/31/2009 Price decreased by 10% to $1,975,000.
09/10/2009 Price decreased by 4% to $1,888,888.
11/04/2009 Listing entered contract at $1,700,000

sjtmd, your example, unfortunately, only exemplifies stupidity and folly in the part of the sellers and brokers, rather than real price discovery. The price they got is, if anything, quite high for such a house and location. The house is NOT in Cobble Hill by any strecth of the imagination. It's in Gowanus and zoned for a terrible school. There's a smaller 2000 sqft house one block away on Union Street listed right now for 750,000. So unless the bathroom fixtures are made of pure gold and the house comes with an indentured butler for life, 1,700,000 is still ridiculously high for it IMHO. 3.6 M was beyond absurd.

4A sold for $5,000 more in 06/05. one wonders what the sales price could have been if priced at $2mmish from the start.

http://streeteasy.com/nyc/sale/155031-coop-165-perry-street-west-village-new-york

11/20/2007Listed by Citi-Habitats at $2,450,000.
03/26/2008Price decreased by 8% to $2,250,000.
11/18/2008Price decreased by 18% to $1,850,000.
12/16/2008Price decreased by 8% to $1,695,000.
03/10/2009Price decreased by 6% to $1,595,000.
11/10/2009Listing entered contract.
01/20/2010Sale recorded for $1,550,000.

In the closing info this shows up as PHC, actually. which is the first listing below, first put on the market for $13.5mm in 10/07.

http://streeteasy.com/nyc/sale/134275-coop-43-clarkson-street-west-village-new-york
http://streeteasy.com/nyc/sale/413811-condo-43-clarkson-street-west-village-new-york

09/18/2008Previously Listed by Brown Harris Stevens at $9,950,000.
05/01/2009Delisted temporarily by Brown Harris Stevens. Last priced at $7,750,000.
05/15/2009Listed by Corcoran at $7,000,000.
06/25/2009Price decreased by 14% to $6,000,000.
09/15/2009Price decreased by 8% to $5,500,000.
10/08/2009Price decreased by 9% to $5,000,000.
10/31/2009Listing entered contract.
01/04/2010Listing sold.
01/04/2010Sale recorded for $4,900,000.

http://streeteasy.com/nyc/sale/450684-coop-930-fifth-avenue-upper-east-side-new-york

05/24/2008Previously Listed by Prudential Elliman at $2,750,000.
11/22/2008Prudential Elliman Listing is no longer available.
09/02/2009Listed by Corcoran at $2,250,000.
09/17/2009Price decreased by 13% to $1,950,000.
10/06/2009Listing entered contract.
01/05/2010Listing sold.
01/05/2010Sale recorded for $1,735,000.

Nice sleuthing ar, $13.5mm. Hahhahahahahahaaaaaaa omfg! And Then the switcherooooo. Omfg. Thatz funny. Thnxs. It's like a train wreck full of lemmings in super slo mo.

Why'd admin go notadmin?

279 Central Park West PH-1B: 3BR/2.5 penthouse with great views and a wraparound terrace that's a bit too narrow to add much value. Closed 42% below original ask and 16% below final ask, so it's also a successful lowball.
03/19/2008 Listed by Sotheby's International Realty, Inc. at $7,250,000.
04/14/2008 Price decreased by 4% to $6,995,000.
10/14/2008 Price decreased by 11% to $6,250,000.
02/28/2009 Price decreased by 5% to $5,950,000.
07/28/2009 Price decreased by 9% to $5,395,000.
09/15/2009 Listing is no longer available.
09/23/2009 Re-listed by Sotheby's International Realty, Inc..
09/23/2009 Price decreased by 7% to $4,995,000.
11/22/2009 Listing entered contract.
01/20/2010 Sale recorded for $4,200,000.

14 East 90th Street #2E: Unusual apartment, basically an estate-codition classic six but with an extra, glass-enclosed "atrium" room, plus a balcony.
01/22/2008 Listed by Stribling at $2,900,000.
03/13/2008 Listing is no longer available.
03/21/2008 Re-listed by Stribling.
03/21/2008 Price decreased by 4% to $2,775,000.
05/06/2008 Price decreased by 6% to $2,600,000.
08/25/2008 Listing is no longer available.
09/05/2008 Re-listed by Stribling.
09/18/2008 Price decreased by 4% to $2,495,000.
10/22/2008 Listing is no longer available.
02/04/2009 Listed by Corcoran at $1,975,000.
02/06/2010 Price decreased by 14% to $1,695,000.
http://streeteasy.com/nyc/sale/379150-coop-14-east-90th-street-carnegie-hill-new-york
The original ask was ambitious, but not completely baseless. The peak comp in the line is #6E - very similar footprint, but without the atrium or balcony. The same Corcoran agent sold #6E very quickly in 2007 for $2.5MM, 11% above ask. Condition appears to have been better than #6E, but not by much.

Sorry - make that: "Condition appears to have been better than #2E, but not by much."

west81st...is it my imagination or is your housing interest decidedly not with the proletariat? (ie., below 750K set)

Jim: My heart is with the proletariat, but my focus is on family-size apartments - 4.5 rooms minimum, generally more. Unfortunately, there aren't many of those in prime Manhattan neighborhoods for under $1MM, though that situation might be starting to change.

Finally, after two years and three failed contracts, this closed at $6,300,000: http://streeteasy.com/nyc/sale/136962-coop-32-east-64th-street-lenox-hill-new-york

10/20/2007 Listed by Prudential Elliman at $7,350,000.
11/19/2007 Listing entered contract.
01/11/2008 Re-listed by Prudential Elliman.
01/15/2008 Price increased by 3% to $7,600,000.
03/20/2008 Price decreased by 4% to $7,295,000.
05/21/2008 Listing entered contract.
09/18/2008 Re-listed by Prudential Elliman.
09/18/2008 Price decreased by 1% to $7,250,000.
10/30/2008 Price decreased by 7% to $6,750,000.
04/10/2009 Listing entered contract.
10/20/2009 Re-listed by Prudential Elliman.
10/20/2009 Price decreased by 4% to $6,500,000.
11/18/2009 Listing entered contract.
02/02/2010 Sale recorded for $6,300,000. (As 8 E)

http://streeteasy.com/nyc/closing/956749

Wow, but $6,300,000 is only 14.3% below the original list price in 2007. That's not too bad.

No, but had it not taken them two years to get down to the $6.5M asking, they'd have saved $170K in maintenance. (Not that that matters much in that rarified market.) And in 2007 they might've gotten even more than $6.3M.

NWT: Can't really blame the asking price for the bad karma here. The apartment went to contract twice while asking $7.3MM-ish, so I don't think price was the problem.

True, I forgot about that, though those three(!) contracts-gone-bad are what's notable about the whole thing. Must be a story there, or as you say, just a run of bad luck.

http://streeteasy.com/nyc/sale/422056-coop-250-west-82nd-street-upper-west-side-new-york

10/11/2007Previously Listed by Brown Harris Stevens at $3,900,000.
10/26/2008Delisted temporarily by Brown Harris Stevens. Last priced at $2,550,000.
06/12/2009Listed by Fenwick Keats Goodstein at $2,710,000.
07/09/2009Price decreased by 8% to $2,490,000.
09/09/2009Price decreased by 8% to $2,295,000.
11/11/2009Listing sold.
01/12/2010Sale recorded for $2,025,000.

http://streeteasy.com/nyc/sale/492725-coop-450-east-52nd-street-beekman-new-york

This started 0n 9/18/2007 with BHS at $3,250,000. Off market 1/31/2008.
Then over to Elliman 3/21/2008 at $2,950,000. Off market 8/23/2009 after dropping to $1,995,000
Now listed with Warburg at $1,895,000.

So 2 years 5 months on the market, three different brokers, death by a thousand cuts from $3,250,000 to $1,895,000, and still no takers.

matsonjones - so few sales in that building (including that 7,000 sf. behemoth). Is that the building currently involved in a lawsuit with the city over its "private" park. This apartment could very well have been affected because those bucolic views towards the river could be "spoiled" by all the "other" New Yorkers enjoying the park outside its windows.

ph41: I do not believe so - the building you refer to is a Sutton Place building....

It was One Sutton Place South.
http://curbed.com/archives/2007/06/18/1_sutton_places_private_lawn_send_in_the_lawyers.php

130 East 82nd Street: Entire building, includes owner's duplex, store and six free-market 2BR rentals.
02/29/2008 Listed by Brown Harris Stevens at $11,000,000.
05/20/2008 Price decreased by 5% to $10,500,000.
10/30/2008 Price decreased by 8% to $9,650,000.
12/05/2008 Price decreased by 12% to $8,500,000.
02/22/2009 Price decreased by 7% to $7,890,000.
06/09/2009 Price decreased by 14% to $6,750,000.
08/03/2009 Listing entered contract.
02/10/2010 Sale recorded for $6,000,000.
http://streeteasy.com/nyc/building/130-east-82-street-manhattan