The Beresford apt 3E..could be a bellweather for CPW

Think the buyers wee choosing between 211 CPW 15J and the San remo listing?--earlier posting said they were awaiting an offer, and yet 15J still for sale. Interesting. BTW, has anyone seen 6GG at the Beresford?

41 CPW 4B went into contract

http://www.streeteasy.com/nyc/sale/350312-coop-285-central-park-west-upper-west-side-new-york

Big Ed's apt went into contract, very interested in this closing price.

Beresford #3E closed for $5.8825MM.
http://a836-acris.nyc.gov/Scripts/DocSearch.dll/Detail?Doc_ID=2009061800019001
(Link will work only if ACRIS is already open.)

Props to bfgross and YJBO, among others.

If a tree falls on the Diana Ross Playground, and nobody hears it because everyone at the Beresford is in the Hamptons for the summer, does it still make a sound? Anyway, this sale seems to confirm that in March and April, properties that might have traded north of $7MM at the peak were selling for under $6MM. Personally, I think 91 CPW was a better buy in this bracket, but 211 does command a premium, and the buyer of #3E didn't need bedrooms for a bunch of kids.

BTW, the buyer of #3E doesn't exactly fit the boom-period profile. In his twenties and thirties, he wasn't trading CDOs; he was fixing planes on an aircraft carrier. But he does fit dwell's description of the best current buyer for this kind of property: his income is fine (from speaking engagements, TV appearances, book royalties, etc.), but what he really has is accumulated wealth from past success.

happyrenter? patient09? i will be impressed if you publicly eat some crow about this. I believe your predictions were Sept. 09 close at $3.5M.

OTNYC: I think that was happyrenter, at the absolute peak of his/her bearishness.

I completely punted on calling this one at all. I salute anyone brave enough to make a price prediction on a building like the Beresford, where money has recently been no object.

eating crow may not be the right choice. But I di admit 10 weeks ago to being wrong when it went into contract. I will cut and paste below for your amusement.

patient09
about 10 weeks ago
ignore this person
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Well, it finally happened. Final list of 6.950mm. Guess I was wrong on this one. Few months and we will all know about transaction price.

http://www.streeteasy.com/nyc/sale/371940-coop-211-central-park-west-upper-west-side-new-york

Still seems like a lot of jake to me. Being a relative value player, I still don't get it. I guess someone else does a bit more than I. In the interim, I will continue enjoying my summer in the country and revisit in the fall. peace..

However, my final price prediction was 4.3mm not what you suggested, that must have been another.

happyrenter seems to have left us for greener pastures . . . I confess to never having enoyed his/her posting that much, nor him/her mine to be fair.

I never got involved in this one because it is just so far from the world I occupy that I wouldn't even know where to begin. No shame in offering a resonable guess of value.

I dig the intelligent conversations about value and comps and therefore found the thread helpful. Glad everyone participated whether or not your guess was right, wrong, or otherwise.

As for this apt, I am truly shocked at what folks will pay to be on a low floor on a busy street near a 4 way intersection. But that's my problem. Not theirs.

El Dorado #25G closed for $6MM even.
http://a836-acris.nyc.gov/Scripts/DocSearch.dll/Detail?Doc_ID=2009070200799001

liquidpaper,

sorry to hear you don't enjoy my postings.

OTNYC,

i won't eat crow on this one just yet, but i will acknowledge it sold for more than i expected. i remember the previous conversation quite clearly although i don't feel like taking the time to go dig it up. what i said was that i would not make a prediction on where any specific apartment would trade--there were sales all the way up, and there will be sales all the way down. i did expect that apartments similar to this one would eventually trade for under $4 million. Do I still think that will happen? Yes, but I'm less sure. Some people just love a trophy building.

Another nugget for lovers of CPW RE porn:

The owners of #30F at the Majestic just bought out their neighbor in #30E.
http://a836-acris.nyc.gov/Scripts/DocSearch.dll/Detail?Doc_ID=2009070100673001
I don't know whether $3.75MM is a SICK deal, but it's safe to say the combination will be a sick apartment.

It'll be an interesting combo. 30E is 4 rooms. (Or was in the original plans.) The buyer picked up the 6-room 30F for $3,775,000 in 2004. Looks as if it'll be tough to get a good flow, what with all the flue and plumbing stacks, but I'm sure they'll figure something out.

Prints are now in on the San Remo "F" line. As noted elsewhere, #6F sold to the neighbors for $4.1MM (asking $4.995MM) on August 3rd. #8F closed for $2.995MM (exactly the final ask) on August 19th.

huge hold-up value?

I wonder why the premium on 6F. Perhaps there is a neighbor premium, especially one who wants to greatly expand. But at almost double the price, the "neighbor premium" is kinda ridiculous.

225 Central Park West #1101 (an object of dmf13's affection) closed on 8/20 for $3.825MM.
http://www.streeteasy.com/nyc/sale/347702-coop-225-central-park-west-upper-west-side-new-york

THanks for remembering me! Pretty good price for the seller, don't you think?

Ed Bradley's apartment at the St. Urban sold for $6.6MM vs. a final ask of $6.995MM.
http://www.streeteasy.com/nyc/closing/921180