Julia - look at this. Price keeps dropping

ccc-we were in a co-op this size until our daughter was five. It worked because, like this apartment, the closet space was generous for the size of the apartment. I'd say it's doable, and not far from the park as well. The building we were in (Gramercy area) has had listings for apartments this size (larger living space, bathroom, smaller kitchen and master bedroom) in the $900K range for the last couple of years.

That's how much prices are going to come down - it's pretty well priced for right now - it's on the 2nd floor so will probably go for less. Now that I'm moving to a place with 2 bathrooms I don't think I will be able to go back to one. I'm thinking 2 years out 2 bathrooms will be in this range for something of this quality - not perfect view etc. I am planning to move to that area because the rest of my family is there.

Intriguingly, it looks like that unit closed for $510K in 2004. http://www.streeteasy.com/nyc/closing/10442

How close to '04 pricing do you think we'll get on it?

I agree with aboutready - very doable for a couple with a young child. You'd have to see it at different times to see how much of an issue noise is on the second floor.

JohnDoe - my guess is it sells below 2004 price, if it sells at all.

I have previously seen the unit. It's a very dark 1BR (made the 2nd bedroom by separating the dining area) with the most horrendous layout, and the measurements/sqft are greatly exaggerated--at least by 20% to 25%. It looked about 700 sf, which would price this 2nd fl dump at over $800/sf... The entire bldg, for some reason, smells like a hospital, too.

$510k, quoted by JohnDoe from 2004, would perhaps be fair, I'd think, and I doubt that an undesirable property like this one was ever on the market in the $900k range as suggested by aboutready.

"That's how much prices are going to come down - it's pretty well priced for right now"

well price with respect to 2004 prices maybe, not with respect to 2000 prices. that's where we are heading and fast IMHO.

big price drop but the maintenance is high. admin.. I hope you're right 2000 prices break out the bubbly!