Sale at 10 East End Avenue #14JK - Burn baby burn....:)

whoah nelly.

granted, maintenance is high... but still, under $750 psf.

Wow.

Maybe the JK in the listing stands for joke.

That price might not be real. This looks like a Halstead listing (recently removed) that LSI was piggy-backing to get buy-side business. What's worse, LSI may have been advertising fake price cuts in the Times to make the listing more attractive.

Why do you find the price so hard to believe? This unit has had a slow and steady decline in price. The apartment still needs to be properly combined. Floor plan indicates that both kitchens are in existence. If you like EEA, then perhaps it's a buy; but otherwise the apt. is very far east. Not enticing in my book.

kas242: I wasn't commenting on the price, just the listing history. Very fishy.

Wow, $750psf...break out the bubbly!

julia please refrain from the bottle until we hit $500psf... that's when things get fun.....

Didn't realize this thread was started 3 times. Reposting:

I saw this apartment in the summer, when it was listed at $2.0MM. The broker told me they had turned down offers around $1.8MM, and weren't interested in any more of those.

The layout of the apartment is fantastic, easily the biggest apartment we've seen around/under $2.0MM. The views are great, too, but the location has pluses and minuses. For us, just so far east. Most importantly, the apartment needs a ton of work.

All that said, I still think it's pretty telling. Well under $1000psf, for a huge family apartment (even a wreck) on East End, with great views, and it's just sitting and sitting.

West81st - I am pretty sure the price is real.

The broker contacted me with several of the price cuts until realizing I was not buying and giving up. The price cuts are very consistent with his story regarding his client that had been reassigned to Japan, but felt that the apartment was fairly priced. In other words, classic case of chasing the market down.

The LSI told me they had a co-exclusive with Halstead (whatever that means), and he was the one showing me the apartment without anyone else there. I am pretty sure he was the sell-side broker, although perhaps not an exclusive one. I don't know what the hell is/was going on with the Halstead listing, but I got the distinct impression Halstead was not actively involved.

And finally, the maintenance is perfectly reasonably for an apartment of this size. The condition of the apartment is the much bigger issue.

newbuyer99 - Thanks for the insight.

Looking at prior sales, though, it seems this building never really fetched very high prices, even at the market peak. For example:
http://www.streeteasy.com/nyc/sale/44011-coop-10-east-end-avenue-apt-16-d-yorkville-new-york

Can't say I like the finishes much, but that's a lot of space - indoors and out. The price history is pretty striking when you consider what was going on in the market at the time.

With a few notable exceptions, properties in this area haven't fetched height-of-market prices. Perhaps too inconvenient? A couple of the buildings on the river side have very nice layouts and great views. Finishes are hit or miss, and many need total remod (although I saw a couple that were truly lovely), but the spaces are very good for the price.

West81st - fair point, I should have noticed this sorta-comp.

I would actually argue that 14JK has a better layout than 16D, because all the bedrooms are good size, and you have a legitimate dining room (which you could even make into a 5th bedroom if you're a mormon). On the other hand, 16D has great outdoor space, a huge living room, and appears to be in better condition. And $1.695 is noticeably lower than $2.05.

I don't think the current price is shockingly low, but I do think someone would've overlooked all the negatives for the space-for-the-money and views if we were in 2007.