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

Sorry - make that 9.2% below 2005 basis.

23 West 73rd - combined unit 1206/07 bought as market was heading towards peak. Was a gut renovation, but it would seems that seller still made a profit even after market tanked (though not as much as they thought they would, judging by initial asking price).

02/27/2007 #1206 $1,900,00005/28/2009
Previously Listed by Prudential Elliman at $4,500,000.
07/18/2009 Prudential Elliman Listing is no longer available. Last priced at $3,999,000.
08/21/2009 Previously Listed by Carol E Levy at $3,750,000.
11/06/2009 Delisted by Carol E Levy. Last priced at $3,750,000.
11/21/2009 Listed by Corcoran at $3,695,000.
12/28/2009 Listing entered contract.
03/04/2010 Listing sold.
03/04/2010 Sale recorded for $3,615,000.

Sorry for the bad cut and paste in first line -

Sold 02/27/2007 #1206/07 $1,900,000
5/28/2009 Previously Listed by Prudential Elliman at $4,500,000

ph: the owner of that unit posted on the board (gabrielle904?) Good for her. You have to know your product. I have passed up on combos at 23W73 (and profits) a few times because I don't get why people would pay a huge premium to live there. Not to belittle her profits, but given the transaction costs & reno costs, it wasn't quite a slam-dunk. Sure, she made 500k+ but could have gone the other way too.

10023 - yes, I recognized the sale and poster when it went into contract a while ago. Don't know how much she put in as equity (downpayment plus renovation costs?) but as a return on equity probably looks pretty good considering the meltdown over that time period from initial purchase to sale.

I am usually not a fan of hotels that have been converted to apartments because the layouts are not always that good (1 Fifth mystifies me totally), but here it might have been the "mint" factor, the terrace, and the location right off CP.

And back to the Chatham, I think if you had been on the East Side at the time, you would have liked that building and the layouts of the larger units, though they seem to have been at a higher price point than the condo you liked on W72.

Sure, only because with hindsight, she made a good profit. Could easily have gone the other way around. She got lucky, found a buyer at 3.6m. Just as likely (maybe not, maybe 23W73 is that desirable) to have sold for 2.9m or less, which was probably her break-even mark.

And she carried it for 3 years, don't know what her carrying costs were, but say 300k min. She could have been all-cash, but capital is never free.

come on 10023 - give her her due - maybe she saw the potential in the unit and took the risk others (such as you and I) would not have made. And do you really think she spent a million on the renovation? The place is not huge, and it didn't look as if she gold plated everything. From her reno posts I would say she was pretty much on top of things cost-wise.

1.9m + 300k carrying costs -> 2.2m (ballpark 300k, probably higher)
500k reno -> 2.7m

Transaction costs - at least 10% in and out. To break even on a 500k reno, she needed to have sold at 2.9 or more.

I've tried to make $ flipping NYC real estate and the transaction costs + carrying costs kill you. Unless you pay all cash.

It's possible that it was a 200k reno, but I've also underestimated transaction costs, so I don't see how it was an easily-predictable profit.

15 West 84th Street #3B: Same unit resale, down just 3.5% from 2007.
08/12/2006 Previously Listed by Prudential Elliman at $895,000.
03/13/2007 Prudential Elliman Listing sold. Last priced at $849,000.
06/07/2007 Previous Sale recorded for $829,000.
11/04/2009 Listed by Citi-Habitats at $829,000.
12/18/2009 Price decreased by 2% to $810,000.
01/20/2010 Listing entered contract.
04/08/2010 Sale recorded for $800,000.
The buyers owned their previous home on East 91st, so they don't qualify for the $8K tax credit despite the $800K purchase price. They might get the $6500 credit if they meet the other requirements.

hmm...3.5% seems like a remarkably small decline from a close to peak price. West81st, do you think the buyers overpaid, or is this a sign of the market coming back?

JohnDoe: That price point on the UWS has held up reasonably well throughout the dip, and seems to have rebounded a bit in recent months. With regard to this particular apartment, it's hard to tell what improvements the sellers might have made during the three years they owned the place. Probably nothing dramatic, but on an $800K apartment, it doesn't take much to swing the percentage increase/decrease by several points.

West 81st: You mentioned 514 WEA 10A as a notable sale at $1,037,500. It's now recorded as 1,101,012. Why would the closing price change, and is that now evidence of a bounce over 7A?

#10A's share allocation is about 20% higher than #7A's, so I wouldn't call a 10% price premium a bounce. Clearly, the amended price makes the trade less significant as evidence of further weakening. At $1.0375MM, #10A represented a substantial step down from the October 2009 sale of #11A for $1.15MM. At $1.1MM, #10A doesn't suggest much movement in either direction.

With regard to why the closing price changed on #10A, the ACRIS filing doesn't provide any clues that I can see.

490 West End Avenue #10D: Same-unit resale of a classic seven in a handsome (if somewhat faded), prime UWS pre-war coop. Closed 19.3% below 2007 basis. January 2010 contract.
04/19/2007 Listed by Corcoran at $2,895,000.
05/21/2007 Listing entered contract.
07/19/2007 Sale recorded for $2,880,000.
03/12/2009 Listed by Jeff Weisbord Real Estate at $2,595,000.
06/07/2009 Price decreased by 5% to $2,475,000.
01/31/2010 Listing entered contract.
04/08/2010 Sale recorded for $2,325,000.
http://streeteasy.com/nyc/sale/391368-coop-490-west-end-avenue-upper-west-side-new-york
The sevens at 490 WEA are not especially generous, and the "D" line lacks views or a true master; so this may be an example of flawed product getting hit harder than properties with no obvious warts.

Actually, #10D clears the adjacent building, so that's one wart it doesn't share with lower apartments in the line.

Is this more painful than a tattoo?

http://streeteasy.com/nyc/sale/392547-coop-565-west-end-avenue-upper-west-side-new-york

Sold for 2.3ish in '08.

nyc10023 - maybe the apartment has a curse on it? Gremlins? Skeletons in the closet? The people who bought it for $2,350,000 in 2/08 sold it 8 10/08 for $2,010,000 - heck of a loss back in those heady times. Definitely painful for those most recent sellers.

I'll tell you when I see the final. Hanging around for 9 months..... Lmao. $2.3mm to $1.6mm, I hope the sellers make $800k/yr, only three yrs of savings. Now if they only make $400k/yr... More like 9 yrs. Diff=>. Retiring at 50 or 56. Ie with con-Viagra or non-Viagra. Enjoy.

Ph41: the buyers in '08 found another apt they liked better at 290WEA (14A). 8-room(?) I don't think they were too concerned about 300k + transaction losses.

The original pics for the 2.35 listing showed the yellow Art Deco baths. I wouldn't install tilework like that, but would certainly not rip out.

Correction - they didn't buy 14A, they hung on to it. Original UCC mid-90s.

Same-plan G and K lines at http://streeteasy.com/nyc/building/the-gloucester

04/20/2010 .#9K $585,000
02/22/2010 #14G $590,000
08/04/2009 #10G $600,000
08/04/2009 #11G $550,000
06/18/2008 .#2G $625,000
07/26/2007 .#4G $615,000
07/05/2007 #14G $665,000
11/09/2006 #11G $570,000
05/05/2006 .#7G $579,000
11/30/2004 #12G $467,000

more pain on the boulevard. initial purchasers did OK.

http://streeteasy.com/nyc/sale/507177-condo-240-riverside-blvd-lincoln-square-new-york
07/26/2005Previous Sale recorded for $1,000,430.
08/24/2005Previous Sale recorded for $1,450,000.
11/20/2008Previously Listed by Corcoran at $1,400,000.
01/30/2009Delisted temporarily by Corcoran.
04/02/2010Listed in StreetEasy, already in contract, by Corcoran at $1,100,000.
04/03/2010Listing sold.
04/21/2010Sale recorded for $1,100,000.

333 West End Avenue #9B: Same-unit resale of a renovated seven-into-five. Closed 12.5% below 2007 basis, but 27% above 2004 sale. Timing of renovations was likely between the two previous sales; the 2004 seller was "Estate of Selma Stricof" and the 2007 listing says "newly renovated".
06/01/2004 Previous Sale recorded for $2,200,000.
04/20/2007 Previously Listed by Stribling at $3,200,000.
09/06/2007 Previous Sale recorded for $3,200,000.
12/18/2009 Listed by Halstead Property at $2,750,000.
12/31/2009 Listing entered contract.
04/28/2010 Sale recorded for $2,800,000.
http://streeteasy.com/nyc/sale/484833-coop-333-west-end-avenue-upper-west-side-new-york

245 West 99th Street (Ariel West) "A" line: The sale of #8A appears notable for two reasons: the continued price erosion during a period when the market was supposed to have experienced a bounce, and a fairly decisive break below pre-construction pricing.
-------- Recorded Sales -------- | ---------- Previous Listings ----------
04/28/2010 # 8A $2,467,500 -21.0% | . $3,125,000 Sold 4 beds 3 baths 2,349 ft²
01/22/2010 # 6A $2,647,450 -15.9% |↑ $3,150,000 Sold 4 beds 3 baths 2,349 ft²
08/19/2008 # 5A $2,900,000 - 1.4% |↑ $2,940,000 Sold 4 beds 3 baths 2,349 ft²
04/29/2008 #16A $3,309,312 + 1.8% |↑ $3,250,000 Sold 4 beds 3 baths 2,349 ft²
03/14/2008 #11A $2,913,559 ......... |
01/09/2008 # 7A $2,763,581 ......... |
12/20/2007 # 4A $2,606,720 ......... |
http://streeteasy.com/nyc/building/ariel-west?show_all=true

W81...re Ariel West.... its now an under-water habitat. Maybe they should re-name it Atlantis!

There are some strange transactions at Ariel W. 3AC was on the market for 4.9m, then dropped to 3.9ishm, then taken (?) off market. The sellers bought it all cash for 4.2m.

370 riverside drive apartment 7A sold for 1.2M which is way below 4A which sold 11/20/2008(right after lehman) for 1,686,250

@ bela
Where do you see 1.2M as the closing price for 7A?
SE does not show the amount paid on this sal.
It does show $1.2 paid in 9/09 for 9E, with an asking price of $1.295

136 West 75th Street #4B: Fast sale, 8.6% below 2005 basis.
10/28/2005 Previous Sale recorded for $930,150.
03/01/2010 Listed by Prudential Elliman at $910,000.
03/08/2010 Listing entered contract.
05/03/2010 Sale recorded for $850,000.
http://streeteasy.com/nyc/sale/499440-coop-136-west-75th-street-upper-west-side-new-york

Dollar cost averaging, Ariel East style:
-------- Recorded Sales -------- | ---------- Previous Listings ----------
05/11/2010 #22A $2,036,500 -11.5% |↑ $2,300,000 Sold 3 beds 2 baths 1,617 ft²
12/20/2007 #23A $2,031,408 - 1.1% |↑ $2,055,000 Sold 3 beds 2 baths 1,648 ft²
Same buyer. Basically identical apartments, except 22A has a 243ft² terrace. (I think it used to be the Sales Office.)

Nicely-done park-view 1/1.5, down 11.5% from 2007: http://streeteasy.com/nyc/sale/482380-coop-80-central-park-west-lincoln-square-new-york and http://streeteasy.com/nyc/sale/60972-coop-80-central-park-west-lincoln-square-new-york

01/05/2007 Listed by Corcoran at $1,550,000.
01/20/2007 Listing entered contract.
05/03/2007 Sale recorded for $1,525,000.
12/04/2009 Listed by Brown Harris Stevens at $1,399,000.
01/21/2010 Price decreased by 4% to $1,350,000.
02/10/2010 Listing entered contract.
04/11/2010 Listing is no longer available.
04/12/2010 Re-listed by Brown Harris Stevens.
04/13/2010 Listing entered contract.
04/21/2010 Sale recorded for $1,350,000.

327 Central Park West #2B: Renovated and reconfigured six with park views from LR and MBR. Closed 14.5% below late 2005 contract/early 2006 closing.
02/10/2006 Previous Sale recorded for $2,925,000.
02/18/2010 Listed by Corcoran at $2,595,000.
03/18/2010 Listing entered contract.
05/13/2010 Sale recorded for $2,500,000.
http://streeteasy.com/nyc/sale/496916-condo-327-central-park-west-upper-west-side-new-york

2/2 in "fair" condition: http://streeteasy.com/nyc/sale/489593-coop-263-west-end-avenue-upper-west-side-new-york

01/16/2010 Listed by Corcoran at $849,000.
01/28/2010 Listing entered contract.
05/14/2010 Sale recorded for $849,000.

The same-line apartments downstairs:

06/01/2008 #8G $1,222,500
10/23/2006 #2G $1,140,000
05/04/2005 #7G ...$995,000
07/12/2004 #2G ...$850,000

2/2.5 condo, flat from 2007: http://streeteasy.com/nyc/sale/493048-condo-255-west-85th-street-upper-west-side-new-york

01/26/1996 Sale recorded for $374,500. (ACRIS)
04/25/2002 Sale recorded for $775,000. (ACRIS)
03/20/2007 Previously Listed by Stribling at $1,395,000.
07/03/2007 Stribling Listing sold. Last priced at $1,250,000.
09/24/2007 Sale recorded for $1,250,000. (As 6C)
02/12/2009 Previously Listed by Prudential Elliman at $1,499,000.
06/30/2009 Prudential Elliman Listing is no longer available. Last priced at $1,435,000.
01/30/2010 Listed by Brown Harris Stevens at $1,299,999.
03/27/2010 Listing entered contract.
05/17/2010 Sale recorded for $1,300,000. (As 6C)

Multiple bids, unless buyer just threw in the extra dollar.

http://streeteasy.com/nyc/sale/295040-coop-305-west-86th-street-upper-west-side-new-york

06/21/2005Previous Sale recorded for $589,000.
06/14/2008Listed by Citi-Habitats at $730,000.
07/28/2008Price decreased by 4% to $699,000.
09/23/2008Price decreased by 6% to $660,000.
10/29/2008Price decreased by 2% to $647,000.
12/31/2008Listing is no longer available.
02/27/2009Later Listed by CBHK at $599,000.
06/08/2009CBHK Listing is no longer available. Last priced at $549,000.
06/29/2009Later Listed by Corcoran at $525,000.
03/04/2010Corcoran Listing entered contract. Last priced at $499,000.
05/11/2010Sale recorded for $475,000.

8D sold for $2,595,000 in 10/05; 5D for $2,387,000 in 03/05. no indication of condition. this one sold quickly for more than asking.

http://streeteasy.com/nyc/sale/495860-coop-101-central-park-west-lincoln-square-new-york

02/12/2010Listed by Warburg at $2,400,000.
03/02/2010Listing entered contract.
05/19/2010Listing sold.
05/19/2010Sale recorded for $2,500,000.

the renovations look recent to me.

http://streeteasy.com/nyc/sale/475396-coop-40-west-77th-street-upper-west-side-new-york

10/20/2005Previous Sale recorded for $750,000.
10/31/2009Listed by Corcoran at $795,000.
12/11/2009Listing entered contract.
05/18/2010Listing sold.
05/18/2010Sale recorded for $760,000.

i am new to this site and live in 500 wea condo. how are the values here holding up?no recent sales that i know about.

Last year there were only the three you see at http://streeteasy.com/nyc/building/500-west-end-avenue-new_york

In 2007 and 2008 there quite a few, notably 5C and 8C for low $5,000,000s, and a bunch of smaller sponsor sales.

Also last year, the sponsor sold the 27 units it still held in a bulk sale, for $6,100,000. Since then the new owner has sold one of them, 7E for $905,000.

who knows anything credible about apthorp? a friend of mine signed contract an apt there for 1300/sqft and now they sent him a letter that they are soon ready to close.AG cleared with stips. is this a disaster waiting to happen? i was actually hoping it would not go thru, cause i thought only headaches for him. now i would like him to make some $ and run.

I've been watching for the condo declaration and plans to be filed. Nothing yet. Once filed, those in contract can start to close.

Back to 500 WEA and GrD that just closed for $2,800,000. Sellers bought it for $3,182,031 (taxes included) from the sponsor in June 2006. Don't know who paid for the work to combine the three apartments it started out as.

NWT: I think you're missing a sale there - the 2006 sale was a resale, and 2005 from sponsor?

For GrD? All I see in ACRIS are the same sales SE has, the $3.1M and the $2.8M. Lot 1103. IIRC the sponsor combined 1103/1104/1106 into 1103 shortly before the sale.

Then again, these annoying interruptions by work are making me scattered....

all i am asking is 500 wea apt 8e is on market this week 1200 sq ft asking 1.6. is this reasonable price for current market?

Gassy, only if you make it so.

Ah, I see the issue. I was confusing MAIS-D (1103 et al.) with 1-D (1111).

1-D sameish layout, size sold for 3.55m in 2006. Sponsor sale a few years before that - 2002?

since 7E sold for $905k not that long ago i'd say no.

But, you get to live in Tina Fey's old bldg. Surely that's worth something?

7e needed to be gutted, so it needs 2-300k of work

but $700k something?

actually mitchigas, that wasn't what you asked. if you want an answer to a specific question, it would behoove you to ask the specific question.

Mitchigas: no. They are pricing in a huge premium for the condo aspect. Similar vintage, size & type of building further south (arguably better location) can be had for 1k/sqft.

Ditto. From the plan it looks as if might have been an Edwardian 5, with the dining room turned into a bedroom. The 6x12 maid's room is nice to have, but it doesn't make up for the two bedrooms having to share the main bathroom. (Now watch it close at asking and prove us all wrong....)

i suspect it is not priced correctly, condo or not, period

A five-room up 24% from 2004: http://streeteasy.com/nyc/sale/496616-coop-90-riverside-drive-upper-west-side-new-york

08/20/2004 Previous Sale recorded for $1,265,000.
02/17/2010 Listed by Halstead Property at $1,575,000.
03/12/2010 Listing entered contract.
05/24/2010 Sale recorded for $1,575,000.

thanks nwt, but that apt looks to be about 25%larger, tho co-op, not condo, other than good layout, must be something special

The 90 RSD post wasn't in reference to 500 WEA. You had the last word on that one.

wasn't there a recent discussion of the maintenance costs for this building? it didn't seem to help matters here.

http://streeteasy.com/nyc/sale/466793-coop-2025-broadway-lincoln-square-new-york

12/03/2004Previous Sale recorded for $303,000.
09/28/2009Listed by Prudential Elliman at $395,000.
11/05/2009Price decreased by 7% to $369,000.
03/05/2010Listing sold.
05/13/2010Sale recorded for $300,000.

Just to put things in perspective, 29G at 2025 Broadway was asking 129k with no takers for a few months in late 2002.

It took two years, but one of the dumpier apartments at 15CPW found a taker: http://streeteasy.com/nyc/sale/485303-condo-15-central-park-west-lincoln-square-new-york

04/14/2008 Previous Sale recorded for $2,688,180.
10/04/2008 Previously Listed by Joanna Cutler Real Estate at $4,950,000.
09/19/2009 Joanna Cutler Real Estate Listing is no longer available. Last priced at $4,495,000.
11/19/2009 Previously Listed by Joanna Cutler Real Estate at $3,995,000.
12/22/2009 Delisted by Joanna Cutler Real Estate.
12/23/2009 Listed by Jay Schneider and Partners at $3,750,000.
03/20/2010 Listing entered contract.
05/17/2010 Sale recorded for $3,750,000.

The courtyard view and windowless not-a-legal-bedroom space give it the air of a FiDi office-building conversion.

Here is a pretty interesting outcome. After a renovation which included a new kitchen (probably the biggest $$ in the reno), they came out close to flat after buying at THE very top. I'm pretty amazed this entirely view-less apartment didn't turn into a tragedy. It is in a great location which is most likely the only reason they didn't lose their shirts on this one.

http://streeteasy.com/nyc/sale/481850-coop-18-west-70th-street-lincoln-square-new-york

18 West 70th, Apt 7CDG
02/23/2007 Previous Sale recorded for $2,390,000.
12/03/2009 Listed by Gumley Haft Kleier at $2,550,000.
02/11/2010 Price decreased by 2% to $2,495,000.
05/21/2010 Sale recorded for $2,500,000

Houdini couldn't have done it any better!

I saw that, they got VERY lucky. They caught the optimistic spring market this year. If they'd put it on the market last spring, they'd have gotten pretty bloodied.

Great location, no light (back faces 11 & 19W69), and there are no C7+s in the W67-W71 park block stretch except for 17W71.

Assume that transaction costs were 8 percent or 200 k. Based on the description, the renovation was another 500 k so they lost an estimated 590 k or 19 percent of their investment...not counting carrying costs which had to be in excess of 100 k. My guess is that they are not feeling real lucky about this.

I was just about to say that they feel crappy about it, but IMO, they are lucky. No way it would have been 3m.

CC: Agree they lost $s on the renovation but I doubt it was $500k. Look at the old Corcoran listing -- the place was already in decent shape (new kitchen, "triple mint," and all that -- not an estate sale). It's possible that the current sellers only redid the kitchen and the master bath and repainted. That could have been done for $100-150k.

so you are assuming that this statement in the last listing is an out and out lie:

"The home underwent a complete renovation completed in April, 2008, which included the kitchen, all bathrooms, new hardwood floors, new built-ins and millwork in every room. "

from the earlier listing:

"This MINT prewar home, with rich details, offers an unusually large entertaining area. A chef's kitchen with furniture-quality cabinets is open to the loft-like living room/dining room area."

capitalizing "mint" seems pretty weak compared to complete renovation; and lets face it a so called chef's kitchen is also a questionable descriptor which would seem to be supported by the fact that the new owners completely ripped it out. Based on the many threads here on renovation costs, I reduced my estimate to $500 K assuming that there was some exaggeration in the description.

If, in fact, they actually did what they said, there is no doubt that it was substantially in excess of that. And by the way, even if all they did was the kitchen and master bath and general touchup, paint and plaster, that would have been at least $200-$250 K right there.

Small 2/2 condo, up 13.6% from 2004: http://streeteasy.com/nyc/sale/507740-condo-130-west-79th-street-upper-west-side-new-york

10F 2010/05 $1,250,000
11F 2007/07 $1,375,000
10F 2004/12 $1,100,000
07F 2004/07 ...$605,000
12F 2004/05 ...$950,000
08F 2002/06 ...$725,000
10F 2000/10 ...$680,000
04F 2000/05 ...$640,000
06F 1998/08 ...$515,000
04F 1998/05 ...$425,000
06F 1997/03 ...$370,000
07F 1996/01 ...$345,000
09F 1993/09 ...$310,000
15F 1993/06 ...$325,000
04F 1992/12 ...$312,000
11F 1992/06 ...$327,000
05F 1991/08 ...$285,000
04F 1988/09 ...$332,000
07F 1988/08 ...$341,000
05F 1988/07 ...$345,000
12F 1988/06 ...$345,000
15F 1988/01 ...$380,500
09F 1987/12 ...$341,000
10F 1987/11 ...$346,000
06F 1987/10 ...$337,000
14F 1987/08 ...$314,500

342 West 85th Street #2B: Same unit resale of a 2BR/2BA duplex condo, 15.9% below 2006 basis.
09/19/2006 Previous Sale recorded for $1,115,000.
03/10/2009 Listed by Sotheby's International Realty, Inc. at $1,298,000.
04/14/2009 Price decreased by 6% to $1,225,000.
07/09/2009 Price decreased by 4% to $1,175,000.
07/28/2009 Listing is no longer available.
10/01/2009 Re-listed by Sotheby's International Realty, Inc..
10/01/2009 Price decreased by 2% to $1,150,000.
04/01/2010 Listing entered contract.
05/24/2010 Sale recorded for $937,500.
http://streeteasy.com/nyc/sale/390888-condo-342-west-85th-street-upper-west-side-new-york
Likely short sale, since the 2006 purchase was done with only 10% down. #1A was a short sale too. Another low-floor unit might be headed in the same direction.

2/2.5 condo, down 17.6% from 2006 and up 64.7% from 2003: http://streeteasy.com/nyc/sale/487183-condo-15-west-63rd-street-lincoln-square-new-york

07/20/2001 Previous Sale recorded for $779,000. (ACRIS)
09/26/2001 Previous Sale recorded for $967,500. (ACRIS)
06/12/2003 Previous Sale recorded for $1,275,000. (ACRIS)
11/02/2006 Previous Sale recorded for $2,550,000.
06/23/2009 Previously Listed by Prudential Elliman at $2,649,000.
12/23/2009 Prudential Elliman Listing is no longer available. Last priced at $2,599,000.
01/06/2010 Listed by Corcoran at $2,450,000.
04/01/2010 Price decreased by 10% to $2,200,000.
05/12/2010 Listing entered contract.
05/27/2010 Sale recorded for $2,100,000.

The renovations were apparently done between the 2003 and 2006 sales.

park laurel same-unit condo resale. 2/2.5. listing states that kitchen is new. don't know who did the bathrooms. what a tiny living room for over $2mm.

http://streeteasy.com/nyc/sale/487183-condo-15-west-63rd-street-lincoln-square-new-york

11/02/2006Previous Sale recorded for $2,550,000.
06/23/2009Previously Listed by Prudential Elliman at $2,649,000.
12/23/2009Prudential Elliman Listing is no longer available. Last priced at $2,599,000.
01/06/2010Listed by Corcoran at $2,450,000.
04/01/2010Price decreased by 10% to $2,200,000.
05/12/2010Listing entered contract.
05/27/2010Listing sold.
05/27/2010Sale recorded for $2,100,000.

History
03/29/2006 Previous Sale recorded for $3,450,000.
03/11/2009 Previously Listed by Warburg at $4,250,000.
06/02/2009 Warburg Listing is no longer available. Last priced at $3,995,000.
01/14/2010 Listed by Warburg at $3,995,000.
02/18/2010 Listing entered contract.
05/18/2010 Listing sold.
05/18/2010 Sale recorded for $3,995,000. Mortgage Calculator

Sorry - 300 Central Park West 10B - looks like prices are not going down to 2001 - Sorry W67th

No link? I wonder how much those recent renovations cost them? 4 bathrooms, kitchen, pantry, lighting, etc. Can't be cheap to do a high-end reno of a large classic 7.

Unfortunately, it's very difficult to isolate the value added by renovations, especially when the listing for the prior sale is unavailable.

Sometimes the building permits are useful, but nothing for this one except for $40K worth of "Interior renovation of existing class A apartment", pulled a few months after the 2006 sale.

Lack of plumbing permits suggests just retiling, with no fixtures moved.

It looks like a lot more than $40K to me, yet nothing like $500K, but I don't know from these things.

Ph41. Enough about re. Let's talk about my 6 yo daughter. She loves to swim. In fact she beat this 7yo in a little swim race the last time we were In Maui. A little friendly touch the turtle statue and swim back affair.

Based on this race, I am refocusing her goals in life away from an education and into Olympic swim medals! Ain't I an awesome dad! Boy i can't wait until they interview me after she wins 10 golds in 2020!!!!

Maybe she'll be on the wheaties box

Prefer corn flakes, but whoever pays me. :)

Ph41. Beware of under the table horse trading to get a listing past a co-op board Flmao.

277 West End Avenue #6D: Same-unit resale of a large classic six that was renovated and converted to a 3BR between sales. Although the cost of the renovation was lost in the resale, the end result isn't terrible.
12/31/2007 Previous Sale recorded for $2,010,836.
11/19/2009 Listed by Corcoran at $2,395,000.
12/11/2009 Price decreased by 4% to $2,295,000.
12/24/2009 Price decreased by 4% to $2,195,000.
04/08/2010 Listing entered contract.
05/27/2010 Sale recorded for $2,100,000.
http://streeteasy.com/nyc/sale/479717-coop-277-west-end-avenue-upper-west-side-new-york

270 West End Avenue #10E: Same-unit resale of a large 5 / small 6 in a prime coop where high maintenance seems to have steepened the decline from peak. Closed 10.7% below early 2005 basis.
03/02/2005 Previous Sale recorded for $1,400,000.
10/08/2009 Listed by Halstead Property at $1,449,000.
11/05/2009 Price decreased by 4% to $1,395,000.
02/04/2010 Price decreased by 5% to $1,325,000.
03/19/2010 Listing entered contract.
05/24/2010 Sale recorded for $1,250,000.
http://streeteasy.com/nyc/sale/469753-coop-270-west-end-avenue-upper-west-side-new-york
Corcoran currently has #4E, asking $1.395MM. Condition appears similar, and IIRC the six floors of elevation make a huge difference: #10E clears the townhouses on 73rd Street; #4E faces a wall.

To underscore the difference between floors in the "E" line at 270 WEA: The seller of #10E previously owned in #3E. In 2005, she sold #3E for $1.05MM and bought #10E for $1.4MM. I think the footprints are the same, although it's possible that the third floor was divided differently.

3E and 10E both have 440 shares, so I'd say you're correct that both have same footprint. That brick wall -- not pretty brick, either -- is 8-10 feet away.

The asking for 4E makes no sense.

W81...your Streeteasy account must be better than mine because when I use your link, the 'sale recorded' line doesn't appear.

Streeteasy, can the admin explain this?

Walterh7: The sale is in ACRIS. I added the line to the history, using SE's format for consistency.

277 West End: Yeah they lost the renovation cost, but that must have been a pretty penny since they were moving a few walls. Had to have been north of $200,000. Still, a 10% loss from a purchase at market Peak is a heck of an accomplishment. Of course the cost might have been more. Others would know this better than me.

Re: "342 West 85th Street #2B: Same unit resale of a 2BR/2BA duplex condo, 15.9% below 2006 basis."

Owners were highly motivated, but not a bank related short sale. Sometimes you take your best first loss and move on to something else that depreciated even more to be where you want to be.

Raddoc: True. Manhattan is one of the few markets where you find a significant number of owners who can afford to dump their properties at a 100%+ loss, write checks at the closing and then go buy something better. They're a minority, but they are out there and they do play a significant role.

Combo 4-bedroom 3.5-bath duplex resale, down 10% from 2007: http://streeteasy.com/nyc/sale/495674-coop-514-west-end-avenue-upper-west-side-new-york

10/03/2007 Sale recorded for $4,093,797.
02/11/2010 Listed by Citi-Habitats at $3,975,000.
03/26/2010 Listing entered contract.
06/03/2010 Sale recorded for $3,675,000.

Quick sale and multiple bids, up 31% from 2004: http://streeteasy.com/nyc/sale/495550-condo-25-central-park-west-lincoln-square-new-york

06/01/1993 Previous Sale recorded for $177,500. (ACRIS)
12/04/1998 Previous Sale recorded for $365,000. (ACRIS)
04/26/2004 Previous Sale recorded for $760,000.
02/10/2010 Listed by Corcoran at $995,000.
03/12/2010 Listing entered contract.
06/03/2010 Listing sold.
06/03/2010 Sale recorded for $999,000.

The W and D (same plan) sales over the years are a good bust-boom-slide pattern.

105 West 73rd, A line. The history follows the market up and down, including the recent sale of 5A slightly below the 2004 previous sale

http://streeteasy.com/nyc/sale/490465-coop-105-west-73rd-street-upper-west-side-new-york
06/03/2010 #5A $580,000
10/09/2009 #7A $623,155
11/30/2005 #6A $710,000
09/30/2004 #3A $550,000
08/30/2004 #5A $593,039
05/21/2004 #4A $537,852

1+den/1.5 condo at the alfred. can't tell who did the reno but it doesn't look cheap.

http://streeteasy.com/nyc/sale/489394-condo-161-west-61st-street-lincoln-square-new-york

07/28/2005Previous Sale recorded for $925,000.
01/15/2010Listed by Corcoran at $985,000.
04/05/2010Listing entered contract.
06/04/2010Listing sold.
06/04/2010Sale recorded for $950,000.

272 West 107th Street #11A: Same-unit re-sale of a 3BR/2.5 bath condo. Closed 10.1% below 2007 basis, 5.8% above original 2005 sponsor sale.
06/03/2005 Previous Sale recorded for $1,985,587.
04/26/2007 Previously Listed by Corcoran at $2,350,000.
08/21/2007 Corcoran Listing sold.
08/21/2007 Previous Sale recorded for $2,335,000.
02/10/2010 Listed by Brown Harris Stevens at $2,250,000.
04/09/2010 Listing entered contract.
06/07/2010 Sale recorded for $2,100,000.
http://streeteasy.com/nyc/sale/495413-condo-272-west-107th-street-manhattan-valley-new-york

250 West 94th (Stanton) #8C closed in September 2009, but didn't show up in ACRIS until mid-April. It will be a horrendous comp for future sellers. Here's the history of the "C" line:
--------Recorded Sales----------|--------Previous Listings----------
09/02/2009 # 8C $1,175,000 - 9.3% |↓ $1,295,000 Sold 2 beds 2 baths 1,650 ft²
08/04/2009 #10C $1,375,000 - 1.4% |↓ $1,395,000 Sold 2 beds 2 baths
06/15/2009 #15C $1,387,500 -10.4% | . $1,549,000 Sold 3 beds 2 baths 1,650 ft²
07/07/2008 # 6C $2,040,000 - 0.5% | . $2,050,000 Sold 3 beds 2 baths 1,600 ft²

http://streeteasy.com/nyc/building/the-stanton-250-west-94-street-new_york

#6C had a nice face-lift with some quality finishes; not a particularly thorough renovation. (Note the window AC units, plus the clumsy division of the dining room that cut up floorboards and windows and left a chandelier wire draped across the room.) #15C, #10C and #8C all needed extensive work, although #10C showed reasonably well.

40 West 77th. #6B Park block with unobstructed views of the Museum of Natural History. Clearly an 'A' location. Not CPW with a view of the park, but prime UWS nonetheless. And a classic 7 which go for a huge premium. Fully renovated. Move right in. All that and this owner is down 18 - 20% when all's said and done. 2005 price in 2010.

http://streeteasy.com/nyc/sale/494492-coop-40-west-77th-street-upper-west-side-new-york

06/16/2005 Previous Sale recorded for $4,250,000.
08/16/2007 Previous Sale recorded for $4,750,000.
02/05/2010 Listed by Stribling at $4,300,000.
03/09/2010 Listing entered contract.
06/03/2010 Sale recorded for $4,300,000.

755 WEA B-Line, classic 6. Sold 6.2% higher than the peak same-line comp, but with 12 extra floors of elevation. Further caveat -- I don't know the condition of these various units.

Recorded Sales
06/04/2010 #16B $1,660,000 -3.8% $1,725,000 ↓ Sold 2 beds 2 baths
11/20/2009 #3B $1,250,000 -3.8% $1,299,000 Sold 2 beds 3 baths
10/17/2008 #2B $1,450,000 -6.5% $1,550,000 ↓ Sold 2 beds 2 baths 1,700 ft²
08/20/2008 #1B $1,472,500 -1.5% $1,495,000 ↓ Sold 3 beds 2 baths 1,600 ft²
02/21/2007 #4B $1,563,105 +4.2% $1,500,000 Sold 3 beds 2 baths 1,600 ft²
01/11/2006 #5B $1,460,000 -

link:
http://streeteasy.com/nyc/building/755-west-end-avenue-manhattan

seg: Your instincts are right: the low-floor prior sales at 755 WEA ranged from "needs serious TLC" to "bring your wrecking ball."

A similar divergence is occurring at 145 West 86th, where #14B just sold quickly for $1.85MM ($55K above ask), while #10B draws little interest at $1.595MM. #14B needs some updating, but it has superior light and views, and showed far better.
http://streeteasy.com/nyc/building/145-west-86-street-new_york