avonova condos dropping like stones

where are these condos?

ethanandwendy: Might be an insider sale; I don't think that unit was ever listed. If it's an ordinary transaction, that's a stunning discount.

nyc10022: 81st and Broadway. Avonova is easy to find, especially on rainy nights when the neighborhood's homeless set up their impromptu shelter under the scaffolding. The rest of the time, just follow the rats; ever since the sponsor broke ground in the front courtyard (for a new boiler, maybe?), our little furry friends from the Broadway median have spread up the block. Ugh.

further proof that NYC is a disgusting city. even in supposedly nice areas like UWS, you have homeless bums and rats everywhere.

5A sold in late September, not today.

And W81 is undoubtedly correct about the 'insider' nature of the sale. 5A was never listed on Manhattan's MLS system (REBNY) as every other apartment for sale by the sponsor in that building is. That means that is was almost certainly sold either to the rent-control tenant or to a friend of the sponsor, etc. Any other possibility is implausible.

Note that 2A, which has the same square footage and 3-bed 3-bath layout, is currently on the market by the sponsor for $2.965M.

rufus is now officially blocked. Go home.

2A has been on market for at least a year and hasn't cleared at $2.965. It wouldn't surprise me if they have to drop the A line into the low $2 mm range to sell it. In this market, if 5A went for $2, 2A will go for $1.5, if that.

ethanandwendy: Did you read SwK's post? #5A was never listed. It's an insider sale, and it tells you absolutely nothing.

yes rufus has to go away.

I've been ignoring dufus for a week. Ahhhh, try it, It feels good.

Getting back to the topic, the sponsor at Avonova did recently cut deals on a couple of small units - studios, I think. The reductions were in the 20% range, and the listings were never amended to rflect lower asking prices. So there does seem to be some negotiability there, at least at the low end of the menu.

At the other extreme, the 5200 sq.ft. combo unit on the eleventh floor was just reduced by about $650K, but that doesn't have anything to do with the sponsor. The people who bought it seem to have suffered a serious bout of buyers' remorse. Now they have an $8MM white elephant.
http://www.prudentialelliman.com/Listings.aspx?ListingID=979849

there is a reason why they're having buyer's remorse. As West81st said, it's a lousy area full of homeless bums. it's not exactly a good selling point for a "luxury" codo.

I've owned a condo on West 80th & Amsterdam (investment) for 15 years. and can tell you rufus that W. 81st & Broadway is hardly a lousy area. It's in fact one of the nicest areas of the Upper West Side. Clean, walkable, likeable, tree-lined, low crime, convenient. I could go on. Rats? They live in every major city(especially Chicago) in the world. Show me construction and I'll show you vermin. anywhere, anyplace, anytime. Homeless? ditto. now 81st & Broadway circa 1976? that my friend was spooky. But I know these things because I've lived them and experienced them. I'd like to suggest you make a reasonable attempt to engage rather than just spew out statements to see if you'll get a rise out of anyone. There has to be some better way to spend your time. try.

Regarding that combination unit on the eleventh floor: if the $8.6MM price tag to buy it is too rich for you, it's also available for the bargain monthly rent of $38K:
http://www.streeteasy.com/nyc/rental/428005-219-west-81st-street-upper-west-side-new-york
...or possibly $35K:
http://www.streeteasy.com/nyc/rental/427647-219-west-81st-street-upper-west-side-new-york