UWS townhouse flip - what do you think?
Started by nyc10023
about 17 years ago
Posts: 7614
Member since: Nov 2008
Discussion about
Serial renovator Adam Gordon bought this in '06 for 5.8m and is attempting to sell for 25m. http://www.corcoran.com/property/listing.aspx?Region=NYC&listingid=1369076
If I needed a Central Park block in the 70s, I'd do this for half the price (though it does need some work):
http://www.streeteasy.com/nyc/sale/226870-townhouse-45-west-73-upper-west-side-new-york
Or - if the Riverside Park block would do - I'd consider this:
http://www.streeteasy.com/nyc/sale/360030-house-327-west-76th-street-upper-west-side-new-york
If I absolutely had to spend $25MM+ on the Upper West Side, I'd go all the way:
http://www.streeteasy.com/nyc/sale/159930-house-351-riverside-drive-manhattan-valley-new-york
very nice choices West 81st.
I'll take any of them, though the Tuthill $30 million one may call for a a couple of Tut Tuts
Interesting that the subject property has an open house on Thursday -- alas in the middle of the day and working grunts like me can't make it.
Perhaps someone can check it out and offer an analysis of Mr Gordon's serial renovations
This one is nice too. Plus it has jazzy NY provenance, and the markup for the renovation is only $7MM!
http://www.streeteasy.com/nyc/sale/365452-townhouse-311-west-74th-street-upper-west-side-new-york
I do have some misgivings about paying $11MM+ for a view of Schwab House.
anyone know what an average townhouse renovation runs (converting multiple apartments to a single family home w/ mid-range, not high-end, updates)?
actually, just found this thread.....http://www.streeteasy.com/nyc/talk/discussion/4380-townhouse-gut-renovation
West81st - I drool over 351 RSD every time I walk by... If I ever win the lottery that house would definitely be on the short list.
351 RSD has dropped all the way to $15MM. I wonder if Squid will reconsider.
http://streeteasy.com/nyc/sale/502799-townhouse-351-riverside-drive-upper-west-side-new-york
West81st; I have always admired this house. What gave me pause in the new add in SE was the update "Price reduced $5,000,000 1 day ago". Yikes! Half of the '07 ask price. If this doesn't sell at this point, I don't know. Upkeep could be the factor. Still, wouldn't it be great.
I've always thought the Tuthill Mansion would be a fitting residence for the President of Columbia University. The school has bought up everything else within a one-mile radius.
Thanks for thinking of me, West. Unfortunately, I still have not won the lottery. Not for lack of trying. Perhaps we could all pitch in and share...
311W74 just sold. Still a nice profit after the '07 purchase.