chasing the market down: our favorite price choppers

A borker touting the $psf.... WOW. Thank goodness I've lived to see this day on SE.

315 e 69: maybe we're starting to see some sanity in the market. IMO, this is not (& should never have been) a $1mm+ apt.

Wow! over 50% chopped since 06', 30% since 10'... Do you think it's a realistic seller now.. Is this offer, "just an offer", still? probably
http://streeteasy.com/nyc/sale/666266-rental-212-e-57th-st-midtown-new-york

06/22/2006
Previous Sale recorded for $(insiders only)
07/07/2006
Previously Listed by Nestseekers at $1,500,000.
09/27/2006
Nestseekers Listing sold.
09/27/2006
Previous Sale recorded for $(insiders only)
06/18/2009
Previously Listed by Corcoran at $1,549,000.
12/08/2009
Corcoran Listing is no longer available. Last priced at $1,445,000.
06/03/2010
Previously Listed by Halstead Property at $1,295,000.
09/24/2010
Halstead Property Listing is no longer available.
02/29/2012
Listed by Hecht Group at $950,000.

re: 212 E 57th

Good catch, but this listing might actually be a bit misleading and, possibly, per-foot price may now be set higher than before. I saw Apt. 2C last year when it was being marketed as a combined 1,200 SF 2BR w/ 2.5 baths unit. But it looks like they are now selling them separately and 2C is described as a 1.5 BR/1.5 BA. We hear of combined units quite a bit, but this would be the first "separated unit" I have seen--if that is indeed what they did.

the "separated" unit being sold individually was something w67 predicted as a precursor to the eventual collapse of the Manhattan RE bubble.... as much as combinations into larger units were symptomatic of a massive RE BUBBLE....

Just the beginning.... a bottom is from from the studios and 1bdrms.... not some celeb $15K psf sale by some russian oil baron mistress....

Yes. That's what it looks like they did(separated them).. interesting. Not a true chopper then.. can we glean anything from apartments being separated. Is the "separated" unit being sold individually a precursor to the eventual collapse of the market as W67 predicted?

212 E 57,
Pony up for a photographer. How ever bad that dump, is there is always the magic of special distortion.

The 2C listing is an error: http://streeteasy.com/nyc/sale/666266-rental-212-e-57th-st-midtown-new-york

See the 2B listing: http://streeteasy.com/nyc/sale/661613-rental-212-e-57th-st-midtown-new-york

I think the broker was trying to update her 2B listing and made a typo, making it 2C.

Note the matching pictures in both listings.

The actual 2C has a door from LR to small terrace. 2B has no door from LR.

Oh, and the owner of 2B is also the broker for the real 2B listing and the misidentified 2C listing.

I'M GONNA need a spreadsheet to figure out if the 2C listing is selling higher or lower than the peak bubble buy....

Spreadsheet? I thought you were a teaching assistant in business school.

277 WEA #6C.... 13% on the first cut. An attempt at a reno/flip. Still plenty of profit at current ask...but will it hold up?

http://streeteasy.com/nyc/sale/654261-coop-277-west-end-avenue-upper-west-side-new-york

walter, please see the following: http://streeteasy.com/nyc/talk/discussion/29585-open-house-report-277-west-end-avenue-6c

And the answer to your question in one word: No.

After 275 days on mkt and chopped over 30%.... sold

http://streeteasy.com/nyc/sale/597187-condo-1619-third-avenue-yorkville-new-york
04/05/2011
Listed by Prudential Elliman at $1,195,000.
06/15/2011
Price decreased by 17% to $995,000.
08/19/2011
Price decreased by 10% to $895,000.
11/30/2011
Price decreased by 2% to $875,000.
01/05/2012
Listing entered contract.

Come on - Ruppert Towers? Really low hanging fruit.

When they came for Rupert towers, I did not sell bc I am a penthouse lady.

When they came for Lincoln towers, I did not sell bc I am a penthouse lady.

When they came for study town units, I did not sell bc I am a penthouse lady.

When they came for my penthouse with $500psf offers, I knew I should have sold a long time ago.

w67th the moralist.

sure, it may be Ruppert Towers, but its a Condo and the last offer price was below $750PSF, so it makes you wonder, humm, " Where are all those foreign buyers?"

17% chopper, but getting close to 5th Ave
http://streeteasy.com/nyc/sale/480907-coop-10-east-85th-street-upper-east-side-new-york
11/25/2009
Listed by Brown Harris Stevens at $1,249,000.
02/23/2010
Price decreased by 6% to $1,175,000.
05/17/2010
Listing entered contract.
09/15/2010
Re-listed by Brown Harris Stevens.
10/22/2010
Price decreased by 11% to $1,050,000.
11/19/2010
Listing entered contract.
02/18/2011
Listing sold.
02/18/2011
Sale recorded for $(insiders only)

http://streeteasy.com/nyc/sale/654812-coop-10-east-85th-street-upper-east-side-new-york

01/16/2012
Listed by Brown Harris Stevens at $1,350,000.
01/17/2012
Price decreased by 4% to $1,300,000.
03/05/2012
Price decreased by 12% to $1,150,000.

hmm, How can I sell this apartment? do I raise the price?? do I lower??? up, no. down...

http://streeteasy.com/nyc/sale/647991-coop-175-west-92-street-upper-west-side-new-york

04/04/2008
Previously Listed by Douglas Elliman at $1,498,000.
09/09/2008
Douglas Elliman Listing is no longer available.
02/23/2009
Previously Listed by Century 21 NY Metro at $1,438,000.
05/02/2009
Century 21 NY Metro Listing is no longer available.
05/04/2009
Previously Listed by Wohlfarth at $1,437,500.
01/05/2011
Off market temporarily. Last priced at $998,000.
05/25/2011
Previously Listed by Beekman Street Realty at $1,279,000.
11/29/2011
Listed by Tungsten Properties at $1,099,000.
11/29/2011
Delisted by Beekman Street Realty. Last priced at $999,999.
03/07/2012
Price decreased by 2% to $1,075,000.
03/15/2012
Price decreased by 5% to $1,025,000.

over 2 years on market, 20% in cuts.. will it ever sell?

http://streeteasy.com/nyc/sale/640441-coop-227-east-57th-street-midtown-new-york

03/23/2010
Previously Listed by Brown Harris Stevens at $2,175,000.
12/17/2010
Off market temporarily. Last priced at $1,950,000.
10/13/2011
Listed by Corcoran at $1,850,000.
01/11/2012
Price decreased by 3% to $1,795,000.
03/15/2012
Price decreased by 3% to $1,740,000.

Not much of a chop, 6%, but chopped after only 1 month on the market in the village... o'yea with the S&P at 1400 again.

http://streeteasy.com/nyc/sale/664234-coop-101-west-12th-street-greenwich-village-new-york
02/18/2012
Listed by Corcoran at $1,549,000.
03/15/2012
Price decreased by 6% to $1,459,000.

Let me mail that douche a lotto tkt. doesn't anyone know how to play lotto anymore? Jeeeez

Re 101 west 12th: they should keep on chopping. Nice enough views, but what a dump. Not just the condition -- the layout's awful. Yichhh.

Don't buy it until they put a mirrored wall in the 2nd bedroom as well.

109 West 78th Street #DE: This renovated duplex walkup on a prime Museum block sold 34.1% below the initial 2010 ask. Possibly more a case of mis-pricing a unique property than chasing the market.
09/25/2010 Listed by Halstead Property at $2,750,000.
10/27/2010 Price decreased by 5% to $2,625,000.
11/27/2010 Off market temporarily.
01/31/2011 Re-listed by Halstead Property.
01/31/2011 Price decreased by 5% to $2,495,000.
04/11/2011 Price decreased by 6% to $2,350,000.
05/05/2011 Price decreased by 4% to $2,250,000.
06/17/2011 Listing is no longer available.
08/25/2011 Listed by Corcoran at $2,100,000.
10/05/2011 Price decreased by 7% to $1,950,000.
01/12/2012 Listing entered contract.
02/17/2012 Sale recorded for $1,812,500.
http://streeteasy.com/nyc/sale/630607-coop-109-west-78th-street-upper-west-side-new-york

The unit was for rent as well. The last asking price-to-rent at a notch over 20x at the $2M price point on the UWS, and the market chose "buy". Sat for months prior at 19x and 17x as well. Are you sure about a price-to-rent of 15-20x in this micro-market? IMO, near-market-rate rentals don't sit for months in NYC. Especially with unique features like this one. Renovated in 2006, so not a question of it being a gut-worthy property. Nice place, certainly something I'd personally consider renting at the right price if I were looking for a $2M place on the UWS. Lots of redeeming features in the apt.

Seems that "ineffable elegance" is not holding it's value at the El Dorado

STREETEASY HISTORY
09/07/2010
Previously Listed by Corcoran at $3,390,000.
02/22/2011
Corcoran Listing is no longer available. Last priced at $3,290,000.
03/08/2011
Previously Listed by Halstead Property at $2,995,000.

http://streeteasy.com/nyc/sale/660921-coop-300-central-park-west-upper-west-side-new-york
01/16/2012
Halstead Property Listing is no longer available. Last priced at $2,775,000.
02/03/2012
Listed by Corcoran at $2,695,000.

Ah yes, the ineffable elegance of the Eldorado. Pay $1300 ppsf for 30' of no-view north exposure? Why bother when you can get 50' of park-facing exposure at 5 a sq ft per month:

http://streeteasy.com/nyc/rental/838202-coop-300-central-park-west-upper-west-side-new-york

Poor apt has been looking for a tenant more than a year. Won't someone please rent this apt?

@apt23 Unfkingbelieveable. Hilarious.

@ 109 west 78. When I looked at that in july 10, the borkers swore up and down the sellers would not take it for a dollar less than $2.1mm.

$300k less and 9 months of carry. Yeh she was close. Flmaozz

3 years and 36 months of carry and a $1mm off the mark. 'trust me, I'm a professional!' $1.8mm to walk up 4 flights and a useless rooftop and cockroach hotels in every nook and cranny. Well done bafffoon overpaying buyer.

West81st, a our resident UWS expert where do you price that apt 12E? Something like $5M? You can rent that for $13K or so.

That's why your 15x rent for a $2M classic 6 on the UWS sounds completely off the mark. If a $2M apt is for rent at $11K, why don't I just dig into my pocket for another $2K and get the $5M apt?

If w67 goes on vacation to Asia, who will be apt23's husband since she chased off her last one?

inonada: First, I don't think I ever said the market was at 15x. Here's what I actually said:

"inonada: If the multiple is really 30-40x, then renting should be a no-brainer for everyone. I'm sure there are market sectors where those figures apply, and where the decision to buy is economically inexplicable.

In my little corner of the world, however, there's a pretty big difference between the apartment that sells for $2MM and the one that rents for $5-6K/month. The multiple here, I think, is in the 15-20 range. That's still high, considering the transaction costs, downside risk and macroeconomic context; but it's not completely insane."

With regard to #12E at the Eldorado, the owners tried to had it on the market under $4MM for much of 2004, and couldn't get it. Maybe it's worth 4.5 now. #8E is the relevant prior sale, at $3.86MM, but it needed lots of work and was sold just as the storm clouds were starting to lift in 2009. On the other hand, #8E had the original 7-room layout. #12E is a weird 7-into-5 2BR.

The key point, from a buy vs. rent perspective, is that #12E is a coop. Coops rent at a discount to true rental properties, for a variety of reasons - the most important being that and you generally can't rent them for more than two years. (That is the actual limit at the Eldorado.) I don't know the exact discount; I think we can all agree it's sufficiently large that this listing is a poor proxy for the rental market as a whole. I'm also not sure why you assume #12E can be had for $13K/month. Judging by the history, the owners may very well have drawn a line around $14.5K.

Even if the multiple here is 30-35x - and it probably is in that range - #12E only only illustrates a very narrow point: That people who are willing to move every two years can live in really nice apartments for less than the cost of buying them. It's not a popular option, but it's a great one for the people who like the idea.

Sorry - several typos / extra words in the post above. Hope it's decipherable.

West81st, thanks for the thoughts & all very decipherable.

On price, I think $4.5M might be on the light side. The market itself moves the 8E comp up to $4.05M (or $4.2M if you use the UWS-specific index), 4 floors of elevation where it really matters, and estate condition add up to more than $4.5M IMO. I personally prefer the weird 7-in-5 config, but I guess some people like maid's rooms and prefer another bedroom vs. a huge living room. Heck, even 3E is on the market asking $4.3M. Delusional? Maybe, but there is also 3E on the market asking $4.3M. Do $4.5M sounds a little light, but maybe $5M is on the heavy side.

Regarding the coop rent discount, that goes hand-in-hand with the coop buy discount IMO. Pain on both sides, so discounts on both sides. There's a reason this is not a $6M apt, very clearly demonstrated by the lack of rental interest in nearly 1.5 years. Is the coop rental discount that same 15% as the buy discount? Maybe that, perhaps a measure more. But if I'm your typical renter, I'm looking at a places for 3 years at a time. I'd rather not do 2 years or be subject to coop board approval, but for the right price I'd do it. But at an ask of $14.5K or $15K, I can find other options without the weird rules. That's why this place has not rented, it's been asking a touch too much.

On the subject of being able to rent the apt for $13K despite the $15K ask, with all due respect you've not rented an apt in 20 years ;).

"But at an ask of $14.5K or $15K, I can find other options without the weird rules."

Other similar-quality options, that is, sans coop rules.

Getting back on-topic while continuing to grind my ax, here's an UWS rental chopper who's been at it for 4 months now. They originally thought they could outdo their $12K from late 2009 / early 2010, so they priced it at $14K. Now they are down to $12.3K, and have added a no-fee sweetener not there a couple of years ago. CPW, 2200 sq ft, 40-45' of Central Park frontage from the 12 floor. Available for 1-year, 2-years, or longer.

http://streeteasy.com/nyc/rental/823985-condo-327-central-park-west-upper-west-side-new-york
03/06/2008 Previously Listed by Douglas Elliman at $13,300.
09/17/2008 Douglas Elliman Listing rented.
10/23/2009 Previously Listed by Douglas Elliman at $12,500.
03/24/2010 Douglas Elliman Listing is no longer available. Last priced at $11,950.
12/05/2011 Listed by Douglas Elliman at $14,000.
12/22/2011 Price decreased by 4% to $13,500.
01/17/2012 Price decreased by 6% to $12,700.
02/07/2012 Price decreased by 3% to $12,300.

Now to the ax-grinding. They paid $3.67M in mid-2005, SE condo index has prices flat both Manhattan-wide and UWS now compared to then. Account 5-7% for the no-fee, work in a little negotiations, you're looking at $11K easy, maybe as low as $10K if you can work it.

Now if that $2M UWS classic 6 -- 1800 sq ft, no views, 5th floor, poor light -- is really renting at 15-20x, meaning $8.5K - $11K, why wouldn't I just take this place?

Come to think of it, ax-grinding IS on-topic for a chopper thread.

Inonada: Axe-grinding is always on-point. Good posts above. Since this thread already has 1600+ posts, maybe we should take this discussion to a separate venue. I'll start a new thread.

Lovez a seller/LL asking $5mm to buy or $10k/month to rent. That's on top of the $4 monthly carry. So please borrow $5mm for $6k/month!!!!!!! That's so awesome. Do all ppl become finacial imbeciles when they 'own'..... And who are the imbeciles that service these finacial imbeciles. Oh yeh, borkers.

not large, but 8% in one month- UT-o-- spring is here I need to sell fast http://streeteasy.com/nyc/sale/664729-coop-200-east-end-avenue-yorkville-new-york

02/22/2012
Listed by Corcoran at $949,000.
03/26/2012
Price decreased by 8% to $875,000.

After 1.5 years on mkt finally dropped 30%

http://streeteasy.com/nyc/sale/667284-coop-122-east-82nd-street-upper-east-side-new-york

09/29/2011
Previously Listed by Douglas Elliman at $2,100,000.
11/16/2011
Douglas Elliman Listing is no longer available. Last priced at $1,850,000.
03/03/2012
Listed by Douglas Elliman at $1,575,000.
03/27/2012
Price decreased by 5% to $1,500,000.

Woah, look at the size of those BRs and 2BA in a 3BR + dinning room + staff quarter apartment with no W/D and a co-op to boot! Kitchen (from the pics) is out of date. I wonder why it's still on the market ? Seller is still expecting too much.

No bidding war here. Could not sell in the "lows" of 09' .. cut 25%

http://streeteasy.com/nyc/sale/430209-condo-845-united-nations-plaza-turtle-bay-new-york

06/20/2009
Listed by Trump at $7,000,000.
10/26/2009
Price decreased by 7% to $6,500,000.
01/09/2010
Price decreased by 4% to $6,250,000.
01/22/2010
Price decreased by 4% to $6,000,000.
02/08/2010
Price decreased by 3% to $5,800,000.
05/11/2010
Price decreased by 3% to $5,600,000.
07/22/2010
Price increased by 4% to $5,800,000.
06/05/2011
Price decreased by 3% to $5,600,000.
06/21/2011
Price increased by 4% to $5,800,000.
07/01/2011
Price decreased by 2% to $5,699,000.
10/29/2011
Listing is no longer available.
02/29/2012
Sale recorded for $(insiders only)
$5,250,000

str33t, then Brooks, now caonima's turn to post

A lot of apartments coming to market at the Trump.. And a lot of choppers

http://streeteasy.com/nyc/sale/570644-condo-845-united-nations-plaza-turtle-bay-new-york

12/01/2010
Listed by Trump at $2,250,000.
06/03/2011
Price decreased by 7% to $2,100,000.
10/01/2011
Price decreased by 5% to $1,995,000.

bot in 06' 1.79mm

So much data. Have you considered your own web site?

So much data. Have you considered your own web site?

Looks like this one traded for $560k in Dec 2011' -- back on market 3 months later---
Maybe it's a failed day trader turned data collector trying to day trade apartments-- will he make $?

http://streeteasy.com/nyc/sale/666681-condo-845-united-nations-plaza-turtle-bay-new-york

06/13/2002
Previous Sale recorded for $(insiders only)
09/29/2004
Previous Sale recorded for $(insiders only)
07/22/2010
Previously Listed by Trump at $739,000.
05/21/2011
Previously Listed by Corcoran at $710,000.
07/07/2011
Trump Listing is no longer available.
11/19/2011
Corcoran Listing sold. Last priced at $675,000.
12/22/2011
Previous Sale recorded for $(insiders only)
03/01/2012
Listed by Douglas Elliman at $655,000.
03/28/2012
Price decreased by 4% to $630,000.

How is iy an insult to all someone a failed day trader when that perhaps has clearly moved on? How about a failed grave digger turned advertising exec? Is that bad too? A failed ice cream salesman turned lawyer? A failed newspaper delivery boy turned airline pilot?

All -> call.

perhaps > person

be careful some may feel the need to correct your typos to try to prove their superiority while masking their insecurities.. come on j homes and urbandigs

That's your trained medical opinion?

Stopping in periodically. Is Brooks2 that same person who was the compsqueen (midtownereast, or whatever)?. Not many people find this kind of thing so enthralling.

you have to consider that she was/is clever enough to alter some aspect of the personality to not be perceived as the same, but...how many people are, indeed, compsqueens?

what's with so many people being gray? is that to save ink?

>Stopping in periodically. Is Brooks2 that same person who was the compsqueen (midtownereast, or whatever)?.

No.

25% choppers.. still lots out there

http://streeteasy.com/nyc/sale/582681-coop-400-east-52nd-street-beekman-new-york
10/01/2010
Previously Listed by NY Private Realty at $2,550,000.
01/07/2011
Off market temporarily.
02/10/2011
Listed by NY Private Realty at $2,295,000.
04/11/2011
Price decreased by 4% to $2,195,000.
06/09/2011
Price decreased by 5% to $2,095,000.
10/25/2011
Price decreased by 2% to $2,049,000.
01/04/2012
Price decreased by 3% to $1,995,000.
04/05/2012
Price decreased by 5% to $1,895,000.

more 25% at the trump.. you're fired!
http://streeteasy.com/nyc/sale/591839-condo-845-united-nations-plaza-turtle-bay-new-york

05/13/2010
Previously Listed by Trump at $3,875,000.
11/22/2010
Trump Listing is no longer available. Last priced at $3,550,000.
03/18/2011
Listed by Corcoran at $3,395,000.
08/31/2011
Listing entered contract.
11/03/2011
Listing sold.
11/03/2011
Sale recorded for $(insiders only)
Sold @ $2,900,000

No bidding war here! price chopped over 31% in 2 months!!!!
http://streeteasy.com/nyc/sale/664543-coop-401-east-86th-st-yorkville-new-york
02/21/2012
Listed by Kaylee Realty at $1,290,000.
03/05/2012
Price decreased by 15% to $1,095,000.
03/14/2012
Price decreased by 13% to $950,000.
04/05/2012
Price decreased by 6% to $890,000.

chopped, not wait.. chopped..
http://streeteasy.com/nyc/sale/633052-condo-212-east-57th-street-midtown-new-york

6/19/2006
Previously Listed by Corcoran at $1,050,000.
06/19/2006
Previous Sale recorded for $(insiders only)
03/26/2007
Corcoran Listing sold. Last priced at $899,000.
03/26/2007
Previous Sale recorded for $(insiders only)
03/16/2009
Previously Listed by David Tower Realty at $1,150,000.
10/04/2009
David Tower Realty Listing is no longer available. Last priced at $1,089,000.
03/08/2011
Previously Listed by David Tower Realty at $1,190,000.
08/14/2011
David Tower Realty Listing is no longer available. Last priced at $899,000.
08/19/2011
Previously Listed by Owner at $900,000.
09/01/2011
Off market temporarily.
09/09/2011
Listed by Douglas Elliman at $939,000.
03/03/2012
Delisted.
03/07/2012
Re-listed by Douglas Elliman.

http://streeteasy.com/nyc/building/180-east-79-street-new_york

01/13/2010
Previously Listed by Sotheby's International Realty, Inc. at $3,200,000.
08/15/2011
Sotheby's International Realty, Inc. Listing is no longer available. Last priced at $2,575,000.
10/25/2011
Previously Listed by Town Residential at $2,400,000.
01/19/2012
Town Residential Listing is no longer available. Last priced at $2,295,000.
02/25/2012
Listed by Douglas Elliman at $1,999,000

While 180 E 79th looks like a great apartment, it seems totally out of character with the building. Also, those sliding walls are an extremely particular addition to this apartment. From other trading apartments in the building it seems like these renovations destroyed value--I hope that the owner enjoyed them while they lived there...

crappy layout 6 in a B building--with what seems like a terrific renovation

great ex of too much renovation where the bones are doggy

"Elegant translucent walls" sounds like an oxymoron to me...

By the way, I never understand why people try to force a super-mod reno into a classic space. If you want to live in a downtown loft, buy a downtown loft. It's a travesty to ruin original elements (ebonized floors? blech!) with cheesy details that will look dated and tired within a year.

^^'elegant translucent GLASS walls' I mean to say ^^

it's a really nice reno, by my standard, but dumb; not only cuz it's not a great space to begin with, but cuz few buyers of prewar ues stock want that look

I've been in that apartment. It is well done. But.... It's on the third floor, which in that building is very visible from the street. I'd guess the low floor has more to do with it not selling than the renovation

1 West 67th Street (Des Artistes) #506: Love-it-or-hate-it renovation of duplex/loft by owner-architects. I'm not sure whether I love it or hate it. At $4.5MM, it was pretty hard to love. no matter how you feel about the spa-like decor.
09/07/2006 Previous Sale recorded for $2,020,000.
06/18/2010 Listed by Douglas Elliman at $4,495,000.
10/26/2010 Price decreased by 11% to $3,985,000.
01/24/2011 Price decreased by 7% to $3,700,000.
03/16/2011 Listing is no longer available.
11/15/2011 Listed by Brown Harris Stevens at $3,275,000.
01/07/2012 Price decreased by 9% to $2,995,000.
04/17/2012 Price decreased by 5% to $2,845,000.
http://streeteasy.com/nyc/sale/533575-coop-1-west-67th-street-lincoln-square-new-york
http://streeteasy.com/nyc/sale/646315-coop-1-west-67th-street-lincoln-square-new-york

that odd tree-house feature hanging off the second floor sleeping loft is one of the ugliest design features I've seen in a long time. Hideous.

http://streeteasy.com/nyc/sale/673669-condo-181-east-65th-street-lenox-hill-new-york
05/24/2011
Previously Listed by Douglas Elliman at $13,000,000.
03/28/2012
Douglas Elliman Listing is no longer available. Last priced at $10,000,000.
03/29/2012
Listed by Brown Harris Stevens at $10,000,000.
04/17/2012
Price decreased by 0% to $9,995,000.

1016 Fifth Avenue #12B: Old-style seven (2 bedrooms, 2 Maids) with Park/Museum views, closed 38% below the original, short-lived asking price. The owner-broker appears to have downsized.
11/03/2010 Listed by Sotheby's International Realty, Inc. at $6,750,000.
11/10/2010 Price decreased by 19% to $5,500,000.
12/08/2010 Price decreased by 9% to $4,995,000.
01/19/2011 Price decreased by 3% to $4,825,000.
04/26/2011 Price decreased by 1% to $4,775,000.
05/09/2011 Price decreased by 5% to $4,550,000.
12/21/2011 Listing entered contract.
04/09/2012 Sale recorded for $4,200,000.
http://streeteasy.com/nyc/sale/565983-coop-1016-fifth-avenue-upper-east-side-new-york

I posted this when it was cut to $875.. then chopped again.
http://streeteasy.com/nyc/sale/663395-coop-50-sutton-place-south-sutton-place-new-york
02/15/2012
Listed by Corcoran at $1,025,000.
02/23/2012
Price decreased by 15% to $875,000.
03/03/2012
Price decreased by 3% to $845,000.

10% in 2 months... using that trend it will sell by Oct

http://streeteasy.com/nyc/sale/661035-coop-320-east-57th-street-sutton-place-new-york

02/03/2012
Listed by Citi-Habitats at $925,000.
03/15/2012
Price decreased by 3% to $900,000.
04/24/2012
Price decreased by 6% to $850,000.

this one is funny..
01/04/2008
Previous Sale recorded for $(insiders only)
04/27/2011
Previously Listed by Douglas Elliman at $950,000.
11/08/2011
Listed by The Schutzer Group, PLC at $930,000.
11/08/2011
Douglas Elliman Listing is no longer available. Last priced at $930,000.
02/08/2012
Price decreased by 2% to $915,000.
03/06/2012
Price decreased by 2% to $899,999.
03/24/2012
Price decreased by 0% to $899,998.
04/22/2012
Price decreased by 1% to $895,000
http://streeteasy.com/nyc/sale/645187-coop-50-sutton-place-south-sutton-place-new-york

http://streeteasy.com/nyc/sale/643417-coop-325-east-72nd-street-upper-east-side-new-york
09/22/2008Previously Listed by Halstead Property at $1,275,000.
08/06/2011Halstead Property Listing is no longer available. Last priced at $875,000.
10/28/2011Listed by Gumley Haft Kleier at $795,000.
12/22/2011Listing entered contract.
04/12/2012Listing sold. $770,000

20% drop in 6m.. more drops coming

http://streeteasy.com/nyc/sale/642880-rental-425-e-63-lenox-hill-new-york

10/26/2011
Listed by Best Apartments at $1,200,000.
11/14/2011
Price decreased by 9% to $1,095,000.
04/27/2012
Price decreased by 9% to $998,000.

knuckleheads try to sell for $1.4 in 09'.. 20% drop since

http://streeteasy.com/nyc/sale/628439-coop-30-beekman-place-beekman-new-york
09/21/2009
Previously Listed by Key-Ventures at $1,395,000.
07/22/2010
Off market temporarily. Last priced at $1,345,000.
10/13/2010
Previously Listed by Sotheby's International Realty, Inc. at $1,195,000.
05/06/2011
Sotheby's International Realty, Inc. Listing is no longer available.
08/11/2011
Listed by Corcoran at $1,150,000.
04/26/2012
Price decreased by 3% to $1,119,000

Well, if that's a real Botero on the wall, they can probably wait even longer as they obviously don't need the money.

I'd say not real, judging by the two large paintings of the seller with her dog.

Those, together with the three-broker history, say there's a story there. You can imagine the three brokers trying and failing to get her to tone down the ... outré style of the place.

The second broker did get her to paint over the black ceiling in the library, though.

50% price chopper! oh ME so not too surprising.
maybe they should change the name of the street
http://streeteasy.com/nyc/sale/640254-coop-400-east-52nd-street-beekman-new-york
10/07/2008
Previously Listed by G. Laurie Cooper at $1,595,000.
01/12/2009
G. Laurie Cooper Listing is no longer available.
01/22/2009
Previously Listed by Brown Harris Stevens at $1,350,000.
03/27/2009
Off market temporarily. Last priced at $1,275,000.
10/05/2010
Previously Listed by Halstead Property at $1,250,000.
02/01/2011
Halstead Property Listing is no longer available.
10/12/2011
Listed by Halstead Property at $1,145,000.
11/15/2011
Price decreased by 13% to $995,000

Isn't that 37.6%?

Don't be a wiseguy west81st.

my bad. I was projecting final sale px

West81st
about 16 hours ago
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Isn't that 37.6%?

Seems to me that Brooks has missed his calling as a slimy agent. He overstates square footage and glosses over important details (like actual price as opposed to his "projected" price).

Brooks modus operandi: don't let the facts (or numbers) get in a way of good story

exactly, Broker rules.. hey Jbutton aren't you a broker. isn't that the way you operate...

I ain't no broker brooks. Difference between you and me, my arguments make sense.

But you insult all women?

I did use a broker for my recent sale and I certainly wouldnt have time or nerves to do their job.

A male broker?

What? That you took a finance class? That's your argument?

I don't argue, just point out the facts,

~23% chopped 1.5 yrs on mkt
http://streeteasy.com/nyc/sale/649912-coop-425-east-58th-street-sutton-place-new-york
10/13/2010
Previously Listed by Brown Harris Stevens at $2,200,000.
11/22/2011
Brown Harris Stevens Listing is no longer available. Last priced at $1,790,000.
12/13/2011
Listed by Brown Harris Stevens at $1,735,000.
05/04/2012
Price decreased by 2% to $1,695,000.

Brooks, the thread here is "favorite price choppers". Not Sutton Place. No one wants to live in Sutton Place, so telling us that yet another apartment in Sutton Place is down doesn't make Sutton Place a favorite neighborhood of any reader here.

33% price chop since 2010' why hasn't anybody told him prices are going up?

http://streeteasy.com/nyc/sale/630483-coop-400-east-52nd-street-beekman-new-york

08/27/2010
Previously Listed by Halstead Property at $1,425,000.
08/22/2011
Halstead Property Listing is no longer available. Last priced at $1,195,000.
08/24/2011
Listed by Douglas Elliman at $1,225,000.
10/05/2011
Price decreased by 4% to $1,175,000.
11/21/2011
Listing entered contract.
02/06/2012
Re-listed by Douglas Elliman.
02/09/2012
Price decreased by 2% to $1,150,000.
04/19/2012
Price decreased by 5% to $1,095,000.
05/25/2012
Price decreased by 9% to $999,000.

bot on 04' for $950k

offered $49k more after 8 years and a reno