I don't understand the price basis for a lot of these new listings. Here is a good example: Already on the market, we have a large, beautiful, mint-condition Classic 7 with great views at Riverside Drive and 75th Street asking 2.975, which has not sold: http://www.streeteasy.com/nyc/sale/307224-coop-52-riverside-drive-upper-west-side-new-york And today, a Classic 7 a large, beautiful,... [more]
I don't understand the price basis for a lot of these new listings. Here is a good example:
Already on the market, we have a large, beautiful, mint-condition Classic 7 with great views at Riverside Drive and 75th Street asking 2.975, which has not sold:
http://www.streeteasy.com/nyc/sale/307224-coop-52-riverside-drive-upper-west-side-new-york
And today, a Classic 7 a large, beautiful, mint-condition Classic 7 with great views at Riverside Drive and 108th Street comes onto the market asking 3.075:
http://www.streeteasy.com/nyc/sale/366268-coop-355-riverside-drive-manhattan-valley-new-york
I recognize that the 108th street apartment has corner exposures, but seriously, these are very comparable apartments in all respects except location, and no one is paying that price to live on 108th street when 75th street is available for less money. Do people even look at comps before pricing their apartments?
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Response by xellam
about 17 years ago
Posts: 133
Member since: Sep 2008
How about these. They are in the same building, same line:
The first is in "estate condition," but I personally love what remains of the original 1908 detail. It's also on the 10/11 floors. It's been cut down over the last five months from 7.99M to 5.9M.
The second, listed today, is an ultra-modern (and soon to be outdated) renovation on the 4/5 floors. I don't really understand why the CC is 2k lower, but even so, the price is irrational.
Mind you they boght for $2.795 in '07 (it was a prebuild, so probably locked in in 06), but there is a methadone clinic on the corner and this is the dumpiest block i have ever walked down. It is a great space and I love the layout and details!
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Response by happyrenter
about 17 years ago
Posts: 2790
Member since: Oct 2008
xellam, that's brilliant. you can buy a gorgeous apartment on the 10th floor with original detail, or pay an additional 2.6 million for an ugly renovation six floors lower. Basically, these people think they should be compensated over $3 million for the renovation. Good luck with that.
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Response by dwell
about 17 years ago
Posts: 2341
Member since: Jul 2008
130 E. 67th: the estate one have 2 maids rooms, which is quite essential {LOL}. Love the staircase in the renovated on.
It seems like a wonderful prewar bld, but that is a busy, noisy street: fire house, police, russian consulate, temple & Hunter.
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Response by xellam
about 17 years ago
Posts: 133
Member since: Sep 2008
dwell, just like the other apartments/comps in the building, most ppl have taken out the non loadbearing wall between the maids' rooms and turned them into a normal bedroom.
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Response by dwell
about 17 years ago
Posts: 2341
Member since: Jul 2008
I'm sure, but now, there's no room for the footman.
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How about these. They are in the same building, same line:
The first is in "estate condition," but I personally love what remains of the original 1908 detail. It's also on the 10/11 floors. It's been cut down over the last five months from 7.99M to 5.9M.
http://www.streeteasy.com/nyc/sale/316196-coop-130-east-67th-street-lenox-hill-new-york
The second, listed today, is an ultra-modern (and soon to be outdated) renovation on the 4/5 floors. I don't really understand why the CC is 2k lower, but even so, the price is irrational.
http://www.streeteasy.com/nyc/sale/366872-coop-130-east-67th-street-lenox-hill-new-york
$8.5M for the C line? Not even the comps were that high, plus the square footage estimate is over the top. It's max 3900sqft.
I can top both of these, I was just sent this listing:
http://www.streeteasy.com/nyc/sale/365807-condo-225-east-24th-street-kips-bay-new-york
Mind you they boght for $2.795 in '07 (it was a prebuild, so probably locked in in 06), but there is a methadone clinic on the corner and this is the dumpiest block i have ever walked down. It is a great space and I love the layout and details!
xellam, that's brilliant. you can buy a gorgeous apartment on the 10th floor with original detail, or pay an additional 2.6 million for an ugly renovation six floors lower. Basically, these people think they should be compensated over $3 million for the renovation. Good luck with that.
130 E. 67th: the estate one have 2 maids rooms, which is quite essential {LOL}. Love the staircase in the renovated on.
It seems like a wonderful prewar bld, but that is a busy, noisy street: fire house, police, russian consulate, temple & Hunter.
dwell, just like the other apartments/comps in the building, most ppl have taken out the non loadbearing wall between the maids' rooms and turned them into a normal bedroom.
I'm sure, but now, there's no room for the footman.