If You Can Demonstrate Market Movement With Comps: Upper West Side Edition

78th and columbus across the street from the museum of natural history. yes, the location is that good.

Location is great. However, I would pass based on the external architecture alone. Eyesore to me.

If one can get past the external architecture, the location is that great. Agreement with above. Iirc, all apartments have private elevator landing, no one shares any wall with a neighbor, and there's a full-time doorman.

I'm learned to hate the long, hotel-like corridors of many buildings including some of the older and nicer co-ops like Ansonia. The co-ops with private and semi-private landings always appeal to me. More of a home feel than that hotel feel. This is condo, of course, not co-op.

That area in general is one of my favorites in NYC. Always a bit bustling so never feels dead but not loud and crazy and the museum is one of the best things in NYC. Maybe it is childhood memories but it's hard not to love to AMNH.

There are nicer buildings on 77th and 81st ringing the museum but all co-op. There's that fugly tower on the corner of 79th and Columbus (101 W 79?) but unless you have a high floor with a view and I've seen a couple of those in there, the rest of them are just blah. Condo inventory is tough right there. Many co-ops to choose from...

Like the Bob Weinstein spread at 211 CPW. Different league but definitely a showcase.

http://www.streeteasy.com/nyc/sale/431464-coop-211-central-park-west-upper-west-side-new-york

Yeah, 78th & Columbus commands a premium. Round the corner (SW corner) of 78th & Columbus, there's an elevatored co-op with large apts, and I remember being shocked at the sky-high prices back in '04. Christopher Reeves had a large apt there.

I have my eye on 125 West 78th (1 RC tenant, 1 RS tenant).

oh, i wouldn't live there either. but as for the pricing in the building, it is due to the location.

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

http://a836-acris.nyc.gov/Scripts/DocSearch.dll/BBLResult 6,350,000

285 cpw is such a beautiful building. one of my favorites to look at (which is all i'll ever do there... :)

35 West 82nd Street #7C: Scion of major Michigan/Massachusetts political family sets up shop as the advance guard for Dad's presidential run, buys cute little 2BR coop, takes beating. So does Dad.
10/01/2007 Previous Sale recorded for $1,030,000.
04/29/2009 Listed in StreetEasy by Prudential Elliman at $899,000.
06/04/2009 Listing entered contract.
08/11/2009 Listing sold.
08/11/2009 Sale recorded for $880,000.
Nice job of pricing, though.
http://www.streeteasy.com/nyc/sale/407532-coop-35-west-82nd-street-upper-west-side-new-york

LookingAround: I think the $6.35MM sale you saw in ACRIS is #3S, not #8S.

Less famous seller, less cute apartment than 35 W. 82nd, but a similar beatdown in the small 2-bedroom arena:

01/09/2007 Previous Sale recorded for $810,000
09/04/2008 Listed in StreetEasy by Prudential Elliman at $895,000.
10/08/2008 Price decreased by 5% to $850,000.
11/14/2008 Price decreased by 6% to $799,000.
02/27/2009 Price decreased by 6% to $750,000.
04/28/2009 Listing entered contract.
08/06/2009 Sale recorded for $700,000

http://www.streeteasy.com/nyc/sale/346154-coop-878-west-end-avenue-manhattan-valley-new-york

17 West 71st "D" line. Rear-facing classic five. Second bedroom is small, but has en-suite bathroom; dining room converts reasonably well.
-------- Recorded Sales -------- | ---------- Previous Listings ----------
08/13/2009 #7D . $ 870,000 -8.3% |↓ $ 949,000 Sold 2 beds 2 baths 1,250 ft²
09/24/2008 #2D $1,140,000 -8.8% | $1,250,000 ↓ Sold 2 beds 2 baths
10/21/2005 #9D . $ 957,500 ...................... | . $979,000 2 beds 2 baths

Footprints of #7D and #2D match, and both were renovated. #2D had nicer finishes, but it's also on a low floor in a line that doesn't get much light. Sale price on #7D is around $700/SF. #2D was over $900.

Thanks for the correction. (It takes a village to DMMWC.)

2112 Broadway (Apple Bank Building) #2A w/storage room. One of the quirkier apartments in a quirky building is not faring well in the resale market. Now asking 24% below prior sale.
06/19/2007 Sale closed for $2,625,000
08/11/2007 Listed in StreetEasy by Brown Harris Stevens at $3,500,000.
10/24/2007 Price decreased by 4% to $3,350,000.
11/07/2007 Price decreased by 7% to $3,100,000.
01/31/2008 Listing is no longer available.
01/31/2008 Listed in StreetEasy by Prudential Elliman at $3,100,000.
02/25/2008 Price decreased by 6% to $2,900,000.
03/04/2008 Price decreased by 3% to $2,800,000.
04/04/2008 Price decreased by 5% to $2,650,000.
09/02/2008 Delisted temporarily.
12/25/2008 Listed in StreetEasy by Brown Harris Stevens at $2,600,000.
07/01/2009 Price decreased by 8% to $2,400,000.
08/20/2009 Price decreased by 17% to $2,000,000.

Huh. My husband kept insisting that they converted part of that bldg into apartments and I didn't quite believe him. quirky is right.

06/19/2007 Sale closed for $2,625,000
08/11/2007 Listed in StreetEasy by Brown Harris Stevens at $3,500,000.

Wow, it took almost a whole 2 months before they put it back on the market. Can you say "flip on the flipper"?

205 West 89th (Astor Court) "S" line: Large, front-facing 4.5-room. Second bedroom faces the interior garden; all oher rooms face Broadway.
-------- Recorded Sales -------- | ---------- Previous Listings ----------
08/17/2009 #10S $1,200,000 -7.3% | $1,295,000 2 beds 2 baths 1,585 ft²
10/04/2006 # 2S $1,590,000 +6.3% | $1,495,000 2 beds 2 baths 1,600 ft²

Although #10S needed some updates, I think this is a stunning comp sequence. The "S" line faces Broadway, so eight floors of elevation are the difference between a view of the Cornwall roofline and a view of the M104 bus. There have been some rumblings on SE about physical problems in this Broadway Grande Dame. For now, though, maintenance remains rather low and this April contract looks like an excellent buy.

The 2112 Broadway #2A seller does like the neighborhood, and put his money where his mouth was. He bought #5D at the same time, apparently to live in (though who knows with a condo,) as that was in his own name while #2A was an LLC. Sold #1141 at the Ansonia across the street around the same time.

transaction cost glutton!!

205 West 89th looks like a great buy I agree. But I don't know what to make of Apple Bank... That's just a bizarre apartment.

The common charge + RE Tax for 2112 Broadway #2A is over $4k/month. Wow!

and Apple Bank Building has terrible finish quality and beyond bad layouts. That conversion is a complete mystery to me. Proof positive that in the bubble basically anything could sell. Crappy product.

201 West 89th (Chester Court) "B" line: South-facing 5.5-room. Converts easily to 3BR. Low maintenance includes electric and excellent amenities.
-------- Recorded Sales -------- | ---------- Previous Listings ----------
07/31/2009 #12B $1,100,000 -12.0% | . $1,250,000 2 beds 2 baths
12/28/2008 #12B ......................... |↓ $1,495,000 Off-Market 2 beds 2 baths
10/12/2007 # 9B $1,525,000 -2.2% |↓ $1,560,000 2 beds 2 baths 1,450 ft²
09/10/2007 # 4B $1,512,000 +12.0% |↓ $1,350,000 2 beds 2 baths 1,450 ft²
06/02/2004 # 3B .. $ 900,000 |

#12B is an estate wreck. #9B was opened up, and in very nice condition. #4B needed a lot of work; looks as though the sellers there may have benefitted from a deal on #9B that ultimately fell through. Anyway, the drop fom #4B to #12B is dramatic: 27% in price, and much more if you factor in the 15% difference in coop shares.

I always thought #12B would combine beautifully with #12A, which is now in contract. I guess nobody with $3MM to spare agreed.

http://www.streeteasy.com/nyc/building/201-west-89-street-new_york

So that is $758 psf? Below 800 becoming more and more common. Next stop 700

A drop below 04/05 sale price at 50 Riverside.

02/18/2005 Previous Sale recorded for $935,000
06/06/2009 Listed in StreetEasy by Carol E Levy at $975,000.
06/30/2009 Price decreased by 2% to $959,000.
07/30/2009 Price decreased by 3% to $929,000.

http://www.streeteasy.com/nyc/sale/418662-coop-50-riverside-drive-upper-west-side-new-york

Serious haircut on a one bedroom at 336 West End:

http://www.streeteasy.com/nyc/sale/374043-coop-336-west-end-avenue-upper-west-side-new-york

01/12/2009 Listed in StreetEasy by Corcoran at $749,000.
02/18/2009 Price decreased by 7% to $695,000.
05/01/2009 Listing entered contract.
06/16/2009 Listing is no longer available.
08/10/2009 Listing sold.
08/10/2009 Sale recorded for $610,000

14D sold for a tidy $815,000 in May of 2008

http://www.streeteasy.com/nyc/sale/189444-coop-336-west-end-avenue-upper-west-side-new-york

277 west end 6c 1,865K vs 12mc less than a yr ago at 2.2M

35 West 90th St. #7DF: Four beds, three baths, nice finishes. Down 15.5% from 2007 basis.
05/07/2007 Previous Sale recorded for $2,545,200.
01/20/2009 Listed in StreetEasy by Stribling at $2,695,000.
03/31/2009 Price decreased by 7% to $2,495,000.
06/27/2009 Listing entered contract.
08/27/2009 Sale recorded for $2,150,000. (Not yet in SE)
http://www.streeteasy.com/nyc/sale/53865-coop-35-west-90th-street-upper-west-side-new-york

lets just round up shall we... two years to lose 16% or $400Kish... nice job baffoons....

just the beginning... I don't see the rental mkts stabilizing.... that's gonna leave a mark on the sales side for sure.... don't let the flurry of activity fool anyone... sales gotz a lonng wayz to go....

35 West 90th St. #7DF

9D Sold $995,000.00 4/14/2005
6F Sold $610,000.00 2/10/2006

total $1,605,000 2005 - 2006 ish

220 RSB, 24E. not as drastic as 4A, but not owned by the bank either.

http://www.streeteasy.com/nyc/closing/43116 $948k, early 2006.

http://www.streeteasy.com/nyc/sale/345789-condo-220-riverside-boulevard-lincoln-square-new-york
09/03/2008 Listed in StreetEasy by Prudential Elliman at $1,145,000.
10/29/2008 Price decreased by 8% to $1,049,000.
02/05/2009 Price decreased by 7% to $975,000.
03/27/2009 Price decreased by 8% to $899,000.
05/29/2009 Price decreased by 6% to $849,000.
06/19/2009 Listing entered contract.
08/24/2009 Listing sold.
08/24/2009 Sale recorded for $835,000.

760 West End Avenue #12E. Same-unit resale. Nice five with open western views. Down 6% from 2005 basis despite recent upgrades. Overall, not a bad result for the seller, but a 2005 price at best.
12/21/2005 Previous Sale recorded for $1,425,000.
03/02/2009 Listed in StreetEasy by Corcoran at $1,495,000.
04/22/2009 Price decreased by 7% to $1,395,000.
06/23/2009 Listing entered contract.
08/28/2009 Sale recorded for $1,345,000.
http://www.streeteasy.com/nyc/building/760-west-end-avenue-manhattan

Even listening to 2112 can't ease the pain at 2112.

I missed this one at 220 RSB, originally listed as 4U at $889k, then the following listing as U4 below, and recorded sale at $670k.

http://www.streeteasy.com/nyc/sale/318517-condo-220-riverside-boulevard-lincoln-square-new-york
07/10/2008 Listed in StreetEasy by Bellmarc at $889,000.
08/19/2008 Listing is no longer available.
06/17/2009 Sale recorded for $670,000.

http://www.streeteasy.com/nyc/sale/346055-condo-220-riverside-boulevard-lincoln-square-new-york
09/04/2008 Listed in StreetEasy by Prudential Elliman at $829,000.
11/12/2008 Price decreased by 4% to $799,000.
12/20/2008 Listing is no longer available.
12/29/2008 Re-listed by Prudential Elliman.
02/06/2009 Price decreased by 4% to $769,000.
03/09/2009 Price decreased by 5% to $729,000.
04/03/2009 Listing is no longer available.
04/24/2009 Re-listed by Prudential Elliman.
05/14/2009 Listing entered contract.
06/20/2009 Listing is no longer available.

200 West End "C" line, floors 19-25 (2BR, 2.5BA 1,565SF)
-------- Recorded Sales -------- | ---------- Previous Listings ----------
08/25/2009 #19C $1,900,000 -11.6% |↓ $2,150,000 Sold 2 beds 2.5 baths 1,565 ft²
* CONTRACT * #24C ................................. |↓ $2,350,000 2 beds 2.5 baths 1,565 ft²
04/08/2009 #20C $2,018,000 -17.6% | . $2,450,000 Sold 2 beds 2.5 baths 1,565 ft²
12/17/2008 #22C $2,200,000 -12.0% | . $2,500,000 Sold 2 beds 2.5 baths 1,565 ft²
05/23/2008 #23C $2,525,000 + 0.0% | . $2,525,000 Sold 2 beds 2.5 baths 1,565 ft²
03/05/2007 #21C ................................. | . $2,275,000 Sold 2 beds 2.5 baths 1,565 ft²
#19C was an mid-August contract; if prices have recovered, there's no sign of it here. #24C is a late-August contract; it will be interesting to see how that sale compares to #19C.

#21C appears to be a good example of shadow inventory. #18C sold for $2.8MM but is not a comp because of outdoor space.

I think that either 19C or 24C or possibly both were part of the Columbia University inventory. apparently columbia bought in early for apts for faculty but since the faculty didn't snap them up, CU sold. I would think that CU didn't lose any money on the deal as a bulk buyer but still, I would not want to see these numbers if I were 23C.

apt23: The Columbia purchases were all on lower floors. I don't think #19C and #24C are resales.

http://www.streeteasy.com/nyc/sale/378384-coop-80-central-park-west-lincoln-square-new-york

80 CPW, 18FG. Owner needs to explain this to his students....

10/17/2006Previous Sale recorded for $2,860,000.
01/31/2009Listed in StreetEasy by Corcoran at $3,250,000.
03/09/2009Price decreased by 11% to $2,900,000.
07/06/2009Listing entered contract.
09/04/2009Listing is no longer available.
sold for $2,525,000
12% loss from cost (+fees, taxes, & commissions) in less than 3 years. Actually I think they did quite well all things considered.

200 West End "E" line, floors 16-17 (2BR, 2BA 1,330SF). Identical units.
-------- Recorded Sales -------- | ---------- Previous Listings ----------
08/27/2009 #17E $1,600,000 -27.3% | $2,200,000 Sold 2 beds 2 baths 1,330 ft²
12/01/2008 #16E $1,745,000 - 8.2% | $1,900,000 Sold 2 beds 2 baths 1,330 ft²

Although #16E looked like a bargain when it went to contract for cash in November, the buyers caught something of a falling knife. The family appears to have purchased three units in the building last fall, including #16D and #16E - probably for combination. Their purchase helped inspire Clarett to offer #17DE as a combo this spring for $3.4MM, without success.

251 West 89th Street (Admaston) "C" line: Edwardian five-room condo; Faces the rear of the building (west), so elevation is important. These apartments could be had in the $600s in 2002. Impressive climb to 2008, followed by a steep drop back to 2004.
-------- Recorded Sales -------- | ---------- Previous Listings ----------
09/06/2009 #11C $1,170,000 - 9.9% |↓ $1,299,000 Sold 2 beds 2 baths 1,140 ft²
04/25/2009 #11C ............................ |↓ $1,379,000 2 beds 2 baths 1,140 ft²
10/30/2008 # 8C ............................ | . $1,549,000 Off-Market 3 beds 2 baths 1,250 ft²
08/21/2008 # 6C $1,450,000 - 3.0% | . $1,495,000 Sold 3 bed* 2 bath 1,140 ft²
06/12/2008 # 8C ............................ |↓ $1,620,000 3 beds 2 baths 1,140 ft²
03/30/2007 #10C $1,350,000 - 2.2% |↓ $1,380,000 2 beds 2 baths 1,138 ft²
06/15/2006 # 8C $1,325,000 + 6.0% |↓ $1,250,000 2 beds 2 baths 1,140 ft²
04/17/2006 # 7C $1,225,000 + 0.0% | . $1,225,000 2 beds 2 baths 1,140 ft²
05/17/2005 # 6C $1,199,000 + 0.0% | . $1,199,000 2 beds 2 baths 1,140 ft²
08/02/2004 #11C $1,150,000 + 5.0% |↓ $1,095,000 2 beds 2 baths 1,140 ft²
08/02/2004 #12C $1,150,000 +24.3% | .... $ 925,000 2 beds 2 baths 1,140 ft²
* 2008 listing for #6C on SE incorrectly stated 1 BR/1BA.

309 West 86th "A" line: 2BR/1.5BA pre-war coop, no doorman, excellent location with school rezoning an open question.
-------- Recorded Sales -------- | ---------- Previous Listings ----------
08/17/2009 #5A $810,000 -4.4% | .. $847,000 Sold 2 beds 1.5 baths 1,200 ft²
02/18/2009 #5A ............................ |↓ . $895,000 ↓ 2 beds 1.5 baths 1,200 ft²
03/01/2007 #6A $925,000 -5.5% | .. $979,000 Sold 2 beds 1.5 baths 1,200 ft²
02/02/2007 #7A $980,000 -6.7% | $1,050,000 2 beds 1.5 baths 1,200 ft²
Of the three apartments, #7A was probably in the best condition. #5A needed freshening (note the mirrored wall), but it wasn't a wreck by any means.

When did the Avery go on sale? Apartment 12E. There are six one bedrooms for rent for $3000 or less a month.

http://www.streeteasy.com/nyc/sale/440911-condo-100-riverside-blvd-lincoln-square-new-york

05/05/2006 Previously Listed in StreetEasy by Corcoran at $955,000.
10/03/2008 Corcoran Listing sold. Last priced at $935,000.
10/03/2008 Previous Sale recorded for $926,350.
07/30/2009 Listed in StreetEasy by Nestseekers at $949,000.
08/28/2009 Price decreased by 6% to $895,000.

225 West 83rd (Bromley) "L" line, floors 5-16: 2BR/2BA condo, 1,114 sq.ft.
-------- Recorded Sales -------- | ---------- Previous Listings ----------
09/01/2009 #10L .. $995,000 ......... |
09/24/2008 #16L $1,385,000 - 1.0% |↓ $1,399,000 Sold 2 beds 2 baths 1,114 ft²
08/28/2007 #11L $1,310,000 ......... |
08/14/2007 # 7L $1,450,000 - 1.7% | . $1,475,000 Sold 2 beds 2 baths 1,113 ft²
09/29/2004 # 8L $1,050,000 - 4.5% | . $1,100,000 Sold 2 beds 2 baths 1,114 ft²

Of these units, #7L was the most extensively renovated, but the prices seem to reflect timing more than condition. #10L appears to have sold for a 2003-2004 price. The only caveat is that it was never listed, so the transaction might not have been arms-length.

West- Interesting on the Bromley. Do you know if they used an agent? That saves $60K to the seller.

Thanks for all of your help on this. I do follow them. Looks like on the UWS, we are approximately in 2004 pricing (give or take a bit in either direction depending on the circumstances). I'd also guess the mode percent slash off peaks pricing is 25-30%?

West81st, why did you mention a possible school rezoning regarding 309 W86th? It is zoned for PS166 (okey, not great) right now. Where could it land in the future?

Trompiloco: At least one redistricting scenario would put that block in the catchment for PS9.

UWSer: There's a wide range: down 10-40%, back to 2004 or just to 2006. To complicate things, each sub-market rose at its own rate and peaked at its own time, so the same percentage decline from peak can take two properties back to different years, and the same year can represent different percentage drops. With all that said, I'm a bit surprised to see a $900/SF trade at the Bromley already. That building seemed to be holding up relatively well.

If memory serves me correctly, I did 2 assignment deals at the bromley in 1998(?) gotta take a look at my old mac files. I was astounded I got $300 psf. So you guys decide. Lmao.

If I remember correctly, 300/sft is about what it went for the late 80's.

W67: More like $400+/SF in '98. For example, the recent seller of #10L bought the apartment in November 1997 for $460K ($1840/.004).
http://a836-acris.nyc.gov/Scripts/DocSearch.dll/ViewImage?Doc_ID=FT_1070006010607

Depends on which end of '98. At the tail end of '98, I'd say 400+/sqft. In the summer of '99, the 1-brs at Bromley were selling for 400k+. I remember looking there.

West81. $300 or $400 psf, what's the big deal when they were trading at $1200 psf at 2007? Bromley, nice pool tho, but too many units / elevators and watch out for the weird triangle units. Unless your azz can fit in a triangle chair.

Now asking less than 2004 closing price of $825K

http://www.streeteasy.com/nyc/sale/393685-coop-123-west-93rd-street-upper-west-side-new-york

123 West 93rd Street #10I

07/27/2004 Previous Sale recorded for $825,000.
03/20/2009 Listed in StreetEasy by Gumley Haft Kleier at $875,000.
05/20/2009 Price decreased by 6% to $825,000.
09/15/2009 Price decreased by 4% to $795,000.

hmmmmm.... ILUVMTHAI... it ain't doing it for me anymore.. need to see some 2001 prices to get this old dogs' ears to perk up.

agreed and i don't love the block.

plus this can hurt the value of a building, even if it isn't this unit:

http://www.nytimes.com/2009/02/08/nyregion/08triple.html

It was 8I. Might turn out to be a bargain.

ILoveMuayThai is West 93rd a bad street to live on?

West 93rd is a cool street LD I wouldn't let one incident keep you from the neighborhood

I'd assume a murder/suicide involves known parties.

neighborhood is good. i don't especially like that block, but i would not say that it is unsafe.

If that area is not considered safe then I have no idea what area in manhattan would be considered safe.

it is certainly safer than 133 e 64, in that hood they have a dude just got 150 years in the big house. Murder on 93rd st is usually worth 20yrs.

Thanks for the feedback on my question guys.

235 West End Avenue 3E

StreetEasy History
04/26/2005 Previous Sale recorded for $664,433.
10/26/2005 Previous Sale recorded for $720,000.
06/29/2007 Previously Listed in StreetEasy by Prudential Elliman at $775,000.
08/15/2007 Prudential Elliman Listing sold.
08/15/2007 Previous Sale recorded for $785,000.
06/20/2009 Listed in StreetEasy by Prudential Elliman at $720,000.
07/13/2009 Price decreased by 3% to $699,000.
08/18/2009 Price decreased by 6% to $659,000.

Seller is down 16% from purchase in 2007, and now below 2005 sold price.

336 Central Park West "B" line: generous Schwartz & Gross six; ~2000SF; LR and MBR face the Park. Although the star at 336 is the corner eight "A" line, "B" is very nice.
-------- Recorded Sales -------- | ---------- Previous Listings ----------
09/07/2007 #10B $3,232,500 - 4.8% | ↓ $3,395,000 2 beds 3.5 baths
08/14/2009 # 7B $2,200,000 -11.8% | ↓ $2,495,000 2 beds 2.5 baths
http://www.streeteasy.com/nyc/building/336-central-park-west-manhattan

#9B sold in 2003, asking $1.995MM; I don't know the closing price. The share counts for the three apartments are very close, so the footprints are almost certainly the same. All were in nice condition. #10B had an extra bathroom, so I guess they kept the maid's bath intact and added a powder room somewhere. I saw #7B and liked it, except for the lack of flexibility in the floorplan. (The dining room is the dining room, period.) Three floors of elevation are important to the views, but not to the tune of 32%.

The sellers downsized, basically swapping CPW for RSB even-up:
http://www.streeteasy.com/nyc/sale/380778-condo-220-riverside-blvd-lincoln-square-new-york

310 West 85th, 9th floor. The "A" and "B" lines of the Mimosa mirror each other almost exactly. Same maintenance; same seller (the sponsor); same elevation; same reno by the same crew; same broker. Pre-war enthusiasts seldom see such precise comps. The only differences seem to be the dates and the prices, suggesting a drop of 35.6% on an identical property.
-------- Recorded Sales -------- | ---------- Previous Listings ----------
09/11/2009 #9A $1,030,000 + 0.5% |↓ $1,025,000 Sold 3 beds 2 baths
05/06/2008 #9B $1,599,000 + 0.0% |↓ $1,599,000 Sold 3 beds 2 baths 1,300 ft²

219 West 81st Street (Avonova) "E" line: 1,271 ft², floorplans vary
-------- Recorded Sales -------- | ---------- Previous Listings ----------
*CONTRACT* #7E ................................. |↓ $1,399,000 2 beds 2 baths 1,271 ft²
*CONTRACT* #6E ................................. |↓ $1,016,000 2 beds 2 baths 1,271 ft²
08/31/2009 #9E ... $989,000 - 5.8% | . $1,049,500 Sold 2 beds 2 baths 1,271 ft²
02/27/2009 #10E $1,600,000 -10.9% | . $1,795,000 Sold 2 beds 2 baths 1,271 ft²
09/26/2008 #4E ... $975,000 .......... | [Sale to tenant in residence]
06/26/2008 #7E $1,750,000 + 0.0% | . $1,750,000 Sold 2 beds 2 baths 1,271 ft²
06/04/2008 #8E $1,765,000 + 0.0% | . $1,765,000 Sold 2 beds 2 baths 1,271 ft²
#6E and #9E are unrenovated apartments offered through Shares of New York. #7E is a resale of a renovated unit.

By the way, as disclosed previously, being a tenant-in-residence effectively makes me "short" the Avonova. The previous post is all public information, but please take my reporting on the building with a grain of salt.

Care to speculate on what 7E went for? Somebody has a very nice capital loss on his or her hands......

West81st - 336 CPW #9B sold 4/4/03 for $1.9mm (per the 2003 file on the annualized rolling sales page on the NYC Dept of Finance web site)

Great comp at 310 West 85th, by the way.

Sidelinesitter: Well done. The closing number on #7B looks 2004-ish, maybe 2005.

mjsalisb: Let's not. There's enough schadenfreude in our hallways these days.

61 West 62nd, #9A. This one is going to be painful. In contract with last ask 23% below 2007 close.

11/15/2007 Previous Sale recorded for $585,000.
06/23/2009 Listed in StreetEasy by Corcoran at $499,000.
07/23/2009 Price decreased by 5% to $475,000.
08/06/2009 Price decreased by 5% to $450,000.
09/09/2009 Listing entered contract.

But a flesh wound.

More like an equity amputation

extra vaseline please

"Layout allows for conversion to a cozy two bedroom with pressure wall and space in the foyer for a dining table."
http://www.corcoran.com/images/media/ListingFloorplans/1640142.1.gif
I think it's called "Giving up your living room". The original listing was even worse:
"Spacious convertible 2 bedroom on the 9th floor in the Harmony"
Spacious? 617 square feet? My goodness.

As I stated elsewhere, somewhere in the 1993-94 range I attended a foreclosure auction for TWO full 2 BR / 2 bath units at One Harkness Plaza (renamed The harmony; same address 61 West 62nd St) where the lien was about $1.1 million, the upset price was something like $150,000 and no one anted it.

311 West 75th - sold for 4m, estate sale, 2-fam 5 story TH. Needed a lot of work, but lots of square footage. A pair of doctors bought it. I think it was a great deal.

Some mystifying (at least to me) same-unit action here. Within 5 months we have: (1) list, (2) chop, (3) enter contract, (4) "no longer available", (5) relist with same brokerage, new team, 12% price increase.
Any idea on what is happening here? I saw the unit in April and it is an interior, low-floor dungeon.

Old: http://www.streeteasy.com/nyc/sale/398617-coop-137-riverside-drive-upper-west-side-new-york

New: http://www.streeteasy.com/nyc/sale/464823-coop-137-riverside-drive-upper-west-side-new-york

324 West 83rd "W" line. The quick sale of #6W suggests a relatively gentle decline and active interest in a 3BR/2BA at this price point in prime UWS.
--------- Recorded Sales --------- | --------- Previous Listings ---------
09/15/2009 #6W $1,295,000 + 0.0% | . $1,295,000 Sold 3 beds 2 baths
11/05/2008 #4W $1,450,000 -3.0% |↓ $1,495,000 ↓ Sold 3 beds 2 baths 1,400 ft²
09/15/2006 #7W $1,330,000 -3.3% |↓ $1,375,000 2 beds 2 baths
06/29/2006 #6W $1,331,000 ........ |
08/12/2005 #2W .. $999,000 + 5.3% |↓ ... $949,000 Sold 3 beds 2 baths 1,350 ft²
08/30/2004 #3W .. $999,999 - 7.0% |↓ $1,075,000 Sold 3 beds 2 baths 1,350 ft²
http://www.streeteasy.com/nyc/building/324-west-83-street-manhattan
324 W83 is a no-frills, low-maintenance building that seems to be faring pretty well in the slump. The same agent recently got #6E to contract very fast.

It's possible that what we are seeing is people caring a lot less about status and a lot more about "value" and part of that being paying an awful lot more attention to (and paying for) low monthly maintenance fees. Another possibility is paying more attention to room count that square footage. Both these are things which have occurred in previous down cycles.

30yrs- have't done the calculations to get to sf on the West 88rd - but I'd say you're right on the emphasis on room count vs. sf, because those are some really small bedrooms. Think these prices show very high $/sf pricing in this "down" market.

I have the original floorplans for these apts (I believe they were full floor or half-floor) but the cut-up apts have prety good layouts. Because they are turn of the century (pre-WW1), the ceilings are very high. So while the bedrooms are small, it's a different feeling from rooms of the same dimensions with 8-foot ceilings. Also, PS9 is much-desired these days (no lottery spots for the first year ever, can you verify, W81?)

nyc10023: Not sure about the lottery spots. I will check. By the way, that area west of Broadway in the low 80s might migrate to PS87. It would be ironic if parents targeted 9 and wound up in 87, a school that has historically been much more sought-after.

110-118 Riverside Drive "C" line. Same-unit resale of a very large, viewless six, with a footprint that accommodates anywhere from two to five bedrooms, in one of RSD's best buildings. Closed 10% below mid-2006 basis, although some money went into upgrades over the past three years..
--------- Recorded Sales --------- | --------- Previous Listings ---------
09/16/2009 #15C $1,600,000 -10.9% | . $1,795,000 Sold 2 beds 2.5 baths 1,875 ft²
03/22/2009 #15C .............................. |↓ $1,995,000 Off-Market 3 beds 2 baths 1,875 ft²
03/09/2009 # 6C $1,750,000 - 7.7% | . $1,895,000 Sold 2 beds 2 baths 1,850 ft²
01/24/2007 #11C $2,000,000 + 0.2% |↓ $1,995,000 2 beds 2 baths 1,872 ft²
07/14/2006 #15C $1,780,000 - 3.8% | . $1,850,000 2 beds 2 baths 1,875 ft²
12/06/2005 #15C $1,275,000 + 2.0% | . $1,250,000 2 beds 2 baths 1,875 ft²
http://www.streeteasy.com/nyc/building/110-riverside-drive-new_york [Note: #5C and #8C also appear in the Streeteasy history for the building, but they are much smaller apartments.]

I saw #15C when Klara Madlin had the listing. The apartment was generally in good condition, though the kitchen was a bit funky.

Revisiting 219 West 81st Street (Avonova) #7E. Same-unit resale closed 23.7% below original purchase.
-------- Recorded Sales -------- | ---------- Previous Listings ----------
09/14/2009 # 7E $1,335,000 - 4.6% |↓ $1,399,000 Sold 2 beds 2 baths 1,271 ft²
02/27/2009 #10E $1,600,000 -10.9% | . $1,795,000 Sold 2 beds 2 baths 1,271 ft²
06/26/2008 # 7E $1,750,000 + 0.0% | . $1,750,000 Sold 2 beds 2 baths 1,271 ft²
06/04/2008 # 8E $1,765,000 + 0.0% | . $1,765,000 Sold 2 beds 2 baths 1,271 ft²

245 West 104th St. #14C: Nice 2BR/1.5BA with open southern views in one of the better UUWS coops.
-------- Recorded Sales -------- | ---------- Previous Listings ----------
09/17/2009 #14C $900,000 - 8.6% | . $985,000 Sold 2 beds 1.5 baths 1,200 ft²
06/06/2006 #14C $977,700 - 1.7% |↓ $995,000 Sold 2 beds 1.5 baths 1,200 ft²
http://www.streeteasy.com/nyc/sale/412233-coop-245-west-104th-street-manhattan-valley-new-york

I am told this sale had nothing to do with noise from dancing upstairs. http://www.streeteasy.com/nyc/closing/906820

west81st,

thanks for these finds. it's interesting to see that apartments that went into contract during july don't seem to have shown price recovery vis-a-vis contracts from march-may. we've seen an increase in volume, obviously, but not prices. it will be interesting to see which direction things go this fall: will volume decline, or prices rise.

Quite remarkable that 14C at 245 West 104th has 13% more square footage than 15C. Magical almost.

What's going on at 55 CPW Apt 18D? From Feburary to now price has gone up down and all around 3.9 to 2.75 to 3.75 to 3.6 now to 3.8.

Closing price is in for 201 West 89th (Chester Court) #12A. No condition problems, excellent building, and 25% off the peak comp five floors down.
--------Recorded Sales----------|--------Previous Listings----------
09/04/2009 #12A $1,595,000 -4.8% |↓ $1,675,000 Sold 2 beds 2 baths
07/12/2007 # 7A $2,125,000 -3.4% | . $2,200,000 Sold 2 beds 2 baths
http://www.streeteasy.com/nyc/building/201-west-89-street-new_york

12A&B would have been a good combo, foyers right next to each other.

A 7.5% percent drop below late 2005. And the difference a slightly shifted timeframe makes:

http://www.streeteasy.com/nyc/sale/431381-coop-157-west-79th-street-upper-west-side-new-york

12/15/2005 Previous Sale recorded for $830,000
06/23/2009 Listed in StreetEasy by Corcoran at $799,000.
08/06/2009 Listing entered contract.
09/22/2009 Listing sold.
09/22/2009 Sale recorded for $770,000

Comps

7B 06/10/2008 $900,000
8B 04/16/2009 $823,000
9B 09/14/2004 $705,000
7B 11/08/2004 $670,000

The 04/08 buyer/seller of 7B does very nicely. The 05/09 buyer/seller of 6B, not exactly.

Way to go, 6B and Noble Black. Instead of jerking around hoping for that special someone who'd let them get out whole, they accepted the market, priced it correctly, moved the thing in six weeks and closed in another six.

http://www.streeteasy.com/nyc/sale/392829-coop-2166-broadway-upper-west-side-new-york

2166 sold for 1.225 so they almost got their money back from a 2007 purchase incl costs. Impressive.
We saw this before it was sold then, and considered it. Cute apt but small rooms.

49 West 96th Street #4A in Upper West Side

This is a nice apartment that was priced right, had a price increase and sold for higher than original ask.

STREETEASY HISTORY
03/23/2009
Listed in StreetEasy by Corcoran at $699,000.
05/12/2009
Price increased by 5% to $735,000.
05/28/2009
Listing entered contract.
09/21/2009
Listing sold.
09/21/2009
Sale recorded for $735,000.

http://www.streeteasy.com/nyc/sale/394225-coop-49-west-96th-street-upper-west-side-new-york

11201 -- Why are you so impressed by this bid and ask on this unit? This is a comps thread, and the lower-floor comp for 4A is down almost 100k from just last year:

09/15/2008 #2A $830,000 -1.2% $840,000 ↓ Sold 2 beds 2 baths 1,100 ft²

SkinnyNsweet: Good point. Also, that "price increase" looks more like a final, unsuccessful attempt to attract a higher bid than the $735K that was already on the table from the eventual buyer.

No doubt this same-unit resale will be touted as an "above asking price" sale.

http://www.streeteasy.com/nyc/sale/387831-coop-201-west-70th-street-lincoln-square-new-york

11/28/2005 Previous Sale recorded for $760,000
05/04/2008 Previously Listed in StreetEasy by Prudential Elliman at $895,000.
11/03/2008 Prudential Elliman Listing is no longer available. Last priced at $859,000.
02/28/2009 Listed in StreetEasy by Sotheby's International Realty, Inc. at $799,000.
03/21/2009 Price decreased by 6% to $750,000.
04/24/2009 Price decreased by 7% to $699,000.
06/16/2009 Listing entered contract.
09/17/2009 Listing sold.
09/17/2009 Sale recorded for $701,000

6F fetched $700,000 in July 2004.

It should be, both actually and going by the dates. Seller's cut to the magic $699K got at least two live ones interested, one of whom bid a lousy $2K more and got it. Or something like that.