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

I'm sorry to have missed the O/H for 617WEA.

Alan: That bedroom was probably 2 double maid's ala 300WEA.

These large prewar apts are being snapped up too quickly for me to get to the O/Hs.

2A+B at 375WEA (also overlooking THs to west & north). I notice that 4B sold w/o being on mkt, too lazy to see if 4A bought. If so, nice 1m premium for combo.

Nyc10023. That's like saying you bought a racehorse for $1mm and you didn't Put her in any races, but you're happy Bc at least it didn't break it's leg.

At least my boyfriend doesn't beat me.
At least my daughter is not a whore AND a crack head
At least they didn't shoot me on my good side (Osama)

Btw happy m day to all the milfs. :)

Hey, I'm happy that my icecream didn't spill on the ground today.

Westsiders: plug for http://www.screme.com/ Screme gelato.

$$$ but yummy, and I dragged our kids there despite their screams for the icecream truck. They shut up once they had a mouthful of the good stuff.

'That's like saying you bought a racehorse for $1mm and you didn't Put her in any races, but you're happy Bc at least it didn't break it's leg.'

My wife cut me down to sex one time a month but, I don't feel so bad because I know a few fellas she cut out completly.

---Rodney (RIP)

164 West 79th Street "D" line: This flexible, front-facing C6 line has undergone a lot of turnover almost every mutation imaginable. The one intractable problem here is a tiny master bath that doesn't seem to offer any options for expansion. The most recent sale in the line is #3D, with the original C6 layout and tastefully redone kitchen and baths.
--------- Recorded Sales ---------|--------- Previous Listings ---------
* CURRENT * # 8D ....................... |↓ $1,649,000 2 beds 1,650 ft²
*CONTRACT* #12D ....................... | . $1,925,000 2 beds
05/12/2011 # 3D $1,480,000 -8.9% |↓ $1,625,000 2 beds 2.5 baths
12/07/2010 #16D $1,500,000 -6.2% |↓ $1,599,000 Sold 2 beds 2 baths
12/06/2010 # 9D $1,650,000 -1.5% | . $1,675,000 Sold 2 beds 2.5 baths
12/01/2008 # 8D ....................... |↓ $1,895,000 Off-Market 2 beds 2 baths 1,600ft²
11/03/2008 # 4D ....................... |↓ $1,795,000 Off-Market 3 beds 3 baths
06/27/2007 #11D $1,888,425 -0.6% | . $1,900,000 Sold 2 beds 2 baths
06/22/2007 #14D $1,950,000 +3.2% | . $1,890,000 Sold 2 beds 2 baths 1,600 ft²
11/15/2005 # 5D $1,785,000 +6.6% | . $1,675,000 3 beds 2.5 baths 1,550 ft²
08/17/2004 # 8D $1,600,000 -3.0% |↓ $1,649,000 2 beds 2 baths
http://streeteasy.com/nyc/building/164-west-79-street-new_york

#16D was a wreck that wound up selling to a neighbor. But to me, the sale of #3D is a genuine surprise. I liked #3D a lot, and it closed 17% below the 2005 price for #5D. The updates in #5D were nothing special; here's the listing: http://www.fkrealestate.com/listing_details.aspx?lid=234655.

Sorry, hat should read: ..."a lot of turnover AND almost..."

THAT should read. Time to vacuum the keyboard.

290 West End Avenue #12C: Front-facing seven, resold 20% above 2009 acquisition price. The previous listing described the apartment as "triple mint". Some intervening renovation is evident, including a powder room and some kitchen upgrades. Nonetheless, a nice upward move for an apartment with fairly high maintenance and unfortunate views of Schwab House.
01/16/2009 Listed by Corcoran at $3,495,000.
05/21/2009 Price decreased by 10% to $3,150,000.
06/18/2009 Listing entered contract.
09/14/2009 Previous Sale recorded for $3,000,000.
01/23/2011 Listed by Corcoran at $3,495,000.
02/14/2011 Listing entered contract.
06/02/2011 Sale recorded for $3,600,000.
http://streeteasy.com/nyc/sale/579046-coop-290-west-end-avenue-upper-west-side-new-york

640 West End Avenue "B" line: #2B is a stunner of a sponsor sale, in absolute estate condition but with the original details very well preserved and beautifully presented.
--------- Recorded Sales ---------|--------- Previous Listings ---------
06/01/2011 #2B+ $2,701,417 +12.6% | . $2,400,000 3 beds 3 baths 2,049 ft²
02/16/2011 #7B+ $2,100,000 - 9.7% |↓ $2,325,000 3 beds 3 baths
http://streeteasy.com/nyc/sale/596377-condo-640-west-end-avenue-upper-west-side-new-york

Interesting pop for the B-line. 600k diff for a lower floor too. The pictures weren't great, so I didn't think that the details were worth checking out. What was 7B like?

Back to 375 WEA, 4B sponsor sale. It was a sale to 4A (also a recent purchase). So, nice pop for the combo.

315 West 106th Street "A" line: Candela classic eight with nice flow and partial river views.
--------- Recorded Sales ---------|--------- Previous Listings ---------
06/29/2011 # 9A $2,795,000 + 0.0% |↓ $2,795,000 3 beds 3 baths
07/22/2010 # 8A $2,291,162 + 4.1% | . $2,200,000 Sold 3 beds 2.5 baths
07/02/2009 #14A $2,125,000 + 6.2% |↓ $2,000,000 Sold 4 beds 3 baths
04/11/2007 # 6A $2,450,000 + 0.0% | . $2,450,000 3 beds 3 baths
Toss out #8A, which was a sponsor wreck. The news here is the jump from #14A to #9A. #9A was more thoroughly renovated, with central A/C; #14A needed work in the bedroom wing. Still, 31.5% is an eye-catching move.

jump now or be jumped out forever!!!!!

500 West End Avenue #4D: Running counter to the recent strength of pre-war condos, this renovated, oft-sold six now asks less than its 2005 price.
04/27/2004 Previous Sale recorded for $1,775,000.
11/18/2005 Previous Sale recorded for $2,250,000.
04/02/2007 Previous Sale recorded for $2,275,000.
01/28/2011 Listed by Prudential Elliman at $2,395,000.
06/01/2011 Price decreased by 6% to $2,250,000.
07/15/2011 Price decreased by 7% to $2,095,000.
http://streeteasy.com/nyc/sale/580049-condo-500-west-end-avenue-upper-west-side-new-york

Maybe it'd help if the sellers got rid of some of the extra furniture -- I count ten pieces -- cluttering the rooms. Or are they just asking too much for a small-ish six?

NWT: I wouldn't call it small, just inefficient for the way most people live. #4D is dominated by the big, formal LR and DR. Those rooms would be great for grown-up entertaining if they didn't face walls. By comparison, the bedrooms feel cramped, although they get the best light in the apartment. The kitchen is nice and spacious, but it feels cut off from the rest of the apartment. You're right about the furniture: too big, and too much.

Must be because they didn't use hexagonal floor tile and wall subway tile in the bathroom. That marble is just NOT respectful of the building's architecture!!.

ph41: You're better than that. How many times do you need to pick the same fight?

I think there are buildings that have a distinct style and tend to attract buyers who favor that style. Renovating in a different style can alienate those buyers and hurt resale value. That is all. Have a nice day.

Renovating in a different style can alienate those buyers and hurt resale value.

I have seen Edwardian buildings that had the charm and beauty scraped out of them and then the seller wonders why it has gone stale. I think now more than ever there is a higher percentage of buyers who expect the charm to remain after a reno.

And then there's a range of opinion as to what constitutes "charm." E.g., I covet the original tiled walls and pantry sink at 115CPW #9A: http://img.streeteasy.com/nyc/image/85/20892085.jpg

I'd never use that sink, but I'd get to look at it, and that'd be enough.

I just saw a savvy reno at http://streeteasy.com/nyc/sale/618599-coop-246-west-end-avenue-lincoln-square-new-york. The broker said it got offers on the first day, and I could see why. No pre-WWI detail to speak of, but the high ceilings, faultless floors, and general level of finish made a big hit with the other OH-goers who follow that building, enough to offset the few defects like the so-2005 glass-tile backsplash.

No no no. My stateroom in the titanic has better decor.

No fk u, my decor is much much better.

No u palin loving chitzpuh! My ph stateroom is the best on the titanic.

Well everybody unpack their bags and sleep on it. Let's have this discussion a few days into our voyage, shall we.

Goodnite all.

julia, hello. even with the mtc. this comes in at about $2300 per month with 20% down.

lincoln towers alcove studio, sold for 24% below 09/05 price.

http://streeteasy.com/nyc/sale/531144-coop-150-west-end-avenue-lincoln-square-new-york

09/15/2005 Previous Sale recorded for $410,000.
06/08/2010 Listed by Corcoran at $399,000.
09/13/2010 Price decreased by 8% to $369,000.
11/02/2010 Price decreased by 5% to $349,000.
01/11/2011 Listing sold.
01/12/2011 Later Listed by Cooper & Cooper Real Estate at $340,000.
03/12/2011 Cooper & Cooper Real Estate Listing entered contract. Last priced at $340,000.
07/14/2011 Sale recorded for $312,000.

>No u palin loving chitzpuh! My ph stateroom is the best on the titanic.

palin loving chitzpuh? Is that aboutready?

There are a couple of alcove studios at 150WEA asking low 300s.

741 WEA, #3A. Small 1 bed closed for 2004 price, 17% below peak comp and 10% off last ask. When first listed last October, it was asking $425k, or basically peak pricing

07/26/2011 #3A $360,000 -9.8% $399,000
11/02/2007 #4A $430,000
06/02/2006 #5A $435,000
10/08/2004 #6A $335,000
08/09/2004 #2A $320,000
http://streeteasy.com/nyc/sale/561837-coop-741-west-end-avenue-3a-upper-west-side-new-york

204 West 78th Street #5C: Tight duplex 2BR/1BA walk-up with big rooftop terraces and awkward spiral staircase. Now asking 22% below 2008 acquisition price and 11% less than 2004 prior sale.
08/09/2004 Previous Sale recorded for $845,000.
09/05/2007 Previously Listed by Halstead Property at $1,100,000.
05/07/2008 Halstead Property Listing sold. Last priced at $995,000.
05/07/2008 Previous Sale recorded for $965,000.
04/14/2011 Listed by Halstead Property at $925,000.
04/29/2011 Price decreased by 3% to $895,000.
05/17/2011 Price decreased by 6% to $839,000.
07/05/2011 Price decreased by 5% to $799,000.
08/08/2011 Price decreased by 6% to $749,000.
http://streeteasy.com/nyc/sale/599992-coop-204-west-78th-street-upper-west-side-new-york

But then you get a fking retard like this one dropping $250k over 2.5 yrs..... Yet no where near it's clearing price.

Low One handle bf it sells. $2.5mm. Nope. Maybe for a renovated entire TH. Is it like a pizza pie. More expensive by the slice?

http://streeteasy.com/nyc/sale/627729-coop-51-west-82nd-street-upper-west-side-new-york

When do you think we will see the drop in price for 440WEA #10B which is way overpriced?

How is 10B "way overpriced"? It's right in the wheelhouse for size: three full bedrooms, plus maids room big enough to function as 4th BR or office. Maintenance is on the low end of the scale.

215 West 91st Street (Desoto) #107: 2BR/1BA coop, resold 4.2% below early 2005 acquisition price.
05/26/2005 Previous Sale recorded for $840,000.
06/15/2010 Previously Listed by Warburg at $925,000.
01/05/2011 Warburg Listing is no longer available. Last priced at $885,000.
03/02/2011 Listed by Halstead Property at $840,000.
08/22/2011 Sale recorded for $805,000.
http://streeteasy.com/nyc/sale/587232-coop-215-west-91st-street-upper-west-side-new-york

Let's not forget the transaction cost. It's like looking at a mutual fund w/o 12-b1 fees or the 2/20.... and saying that guy beat the market by 3%, bf fees and actually -4% w/ fees. I buy my Porsches w/ net of tax income.... let me know when you can pocket 4.2% below 2005 purchase..... (doesn't sound so bad does it?).... now let's be adults and say 10.2% below 2005 price after 6% commission (sounds a little "worser" doesn't it?).

Do RE transactions get done for $9.99 per transaction?, wake make up when we get E-RETrade.com up and running.

Solidly 2003-2004 prices, heh?

Wow, a dirty talking ape knows about mutual fund and hedge fund fees. Amazing what the American system can do. We allow a dirty gorilla and dirty monkey into our country, allow them to procreate, baby einstein videos, affirmative action, some guilt, more affirmative action, maybe some legal threats, a bit of cheating and dishonesty, excessive use of the zzs - the favorite letter of the lazy daytime sleeper, and an anonymous website, and viola!

25 West 88th Street: 20-foot-wide Queen Anne with owner's quadruplex and four additional small units. Resold 18.3% below 2007 acquisition price, though still 42.7% above 2002 prior sale. It's not clear whether the four small units are legal rentals.
06/03/2002 Previous Sale recorded for $3,750,000.
11/01/2005 Previously Listed by Stribling at $7,495,000.
05/11/2007 Stribling Listing is no longer available. Last priced at $6,998,000.
09/07/2007 Previous Sale recorded for $6,550,000.
04/22/2011 Listed by Corcoran at $5,999,500.
06/24/2011 Listing entered contract.
09/01/2011 Sale recorded for $5,350,000.
http://streeteasy.com/nyc/sale/601940-multi-25-west-88th-street-upper-west-side-new-york

28 West 69th Street #2A: Six-into-five in a park-block, non-doorman coop. Resold 15% above early 2007 acquisition price. The 2011 listing touts the renovation, but most of the work seems to pre-date the 2007 sale.
11/15/2006 Listed by Nestseekers at $1,600,000.
02/27/2007 Sale recorded for $1,565,111.
04/28/2011 Listed by Halstead Property at $1,895,000.
06/21/2011 Listing entered contract.
08/29/2011 Sale recorded for $1,800,000.
http://streeteasy.com/nyc/sale/603764-coop-28-west-69th-street-upper-west-side-new-york

W81...regarding 28 W 69 #2A.... the 2007 sale was pre-reno. That kitchen has been moved and is brand-spanking new.

ick--hyper country style--needs a fresh gut bad

that said it looks like it's been recently gutted--a likely cost of appx 400K all in

so it's more like 1.6 turns into 1.4--1.4, coincidentally, being 2005 value--whack out another at least 6% in transaction costs and it just aint pretty--

benefitted from cost of comps in the neighborhood since the filling up of the "goldman building" over on cpw

walterh7: Thanks. My mistake.

465 West End Ave Apt 4B....below 2005 comp.
http://streeteasy.com/nyc/sale/581348-coop-465-west-end-avenue-upper-west-side-new-york

The warts on this listing were discussed here...
http://streeteasy.com/nyc/talk/discussion/25050-sale-at-465-wea-4b-one-full-bath-in-c7-impact

Turns out this did hit the "Price Chopper" thread.

So, I hear about the demand for 3+ BR's on the UWS and then see this print. Makes me wonder if the demand is really so robust.

02/03/2011 Listed by Corcoran at $2,595,000.
03/10/2011 Price decreased by 8% to $2,399,000.
04/21/2011 Price decreased by 2% to $2,349,000.
05/11/2011 Price decreased by 2% to $2,299,000.
06/10/2011 Listing entered contract.
08/18/2011 Listing sold.
08/18/2011 Sale recorded for $2,150,000.

08/18/2011 #4B $2,150,000 -6.5% $2,299,000 Sold 3 beds 2 baths
09/12/2008 #5B $1,200,000 -
08/01/2006 #6B $2,550,000 -
07/14/2005 #3B $2,306,000 -

The 5B transaction appears to be something less than a market transaction. Looks like the same last name of buyer and seller.

I farted.... I think it said '$500psf'. Let me do it again and throw it up on YouTube.

If a dog saying 'I love you' can make YouTube money.... My azz saying '$500psf' gotta do better.

175 West 93rd Street #15C: Nicely finished Westwind six-into-five with mostly open views; closed 13.7% below Q1 2008 sponsor sale.
03/27/2008 Previous Sale recorded for $1,999,111.
02/03/2011 Listed by Corcoran at $2,000,000.
04/15/2011 Price decreased by 5% to $1,895,000.
06/04/2011 Price decreased by 5% to $1,795,000.
09/27/2011 Sale recorded for $1,725,000.
http://streeteasy.com/nyc/sale/581236-coop-175-west-93rd-street-upper-west-side-new-york
Considering the competition from a sponsor unit two floors up that sold for $1.6MM, the sellers of #15C may have been fortunate.
http://streeteasy.com/nyc/sale/607460-coop-175-west-93rd-street-upper-west-side-new-york

755 West End Avenue #7C: Renovated six in a line where the 2008-2009 value drop was documented at the start of this thread (see #5C, which sold for $1.15MM). #7C closed 48.8% above the sellers' 2003 acquisition price. Some tasteful updates were done between the two transactions.
07/30/2003 Listed by Carol E. Levy at $1,095,000.
10/24/2003 Sale recorded for $1,042,000. (Source: NYC Rolling Sales)
04/21/2010 Listed by Mark David at $1,625,000.
07/08/2010 Price decreased by 3% to $1,575,000.
10/27/2010 Listing is no longer available.
05/06/2011 Listed by Prudential Douglas Elliman at $1,595,000.
06/01/2011 Listing entered contract.
09/08/2011 Sale recorded for $1,550,000.
http://streeteasy.com/nyc/sale/605886-coop-755-west-end-avenue-upper-west-side-new-york

645 West End Avenue #11F: Smallish, renovated six with views. Resold 6.6% below 2007 acquisition price, after jumping 21.5% from prior 2006 sale.
12/01/2005 Previously Listed by Brown Harris Stevens at $2,100,000.
01/31/2006 Price decreased by 5% to $1,995,000.
03/27/2006 Price decreased by 5% to $1,895,000.
05/01/2006 Price decreased by 8% to $1,750,000.
05/09/2006 Price decreased by 9% to $1,595,000.
06/03/2006 Listing entered contract.
07/27/2006 Previous Sale recorded for $1,630,000.
04/09/2007 Previously Listed by Brown Harris Stevens at $1,849,000.
05/26/2007 Listing entered contract.
07/31/2007 Previous Sale recorded for $1,980,000.
10/13/2010 Listed by Corcoran at $2,025,000.
11/01/2010 Price decreased by 2% to $1,975,000.
12/15/2010 Listing is no longer available.
02/09/2011 Re-listed by Corcoran.
04/25/2011 Price decreased by 4% to $1,895,000.
05/14/2011 Price decreased by 2% to $1,850,000.
06/14/2011 Listing entered contract.
10/12/2011 Sale recorded for $1,850,000.
http://streeteasy.com/nyc/sale/561369-coop-645-west-end-avenue-upper-west-side-new-york

w67thstreet>I farted.... I think it said '$500psf'. Let me do it again and throw it up on YouTube.
If a dog saying 'I love you' can make YouTube money.... My azz saying '$500psf' gotta do better.

Of course - talking Ape farting on YouTube - yes, that could make money.

500 West End Avenue #4D: Gracious, viewless oft-flipped classic six condo. Resold 16% below 2007 acquisition price and 15% below prior 2005 sale.
05/07/2002 Previous Sale recorded for $1,425,550 (from ACRIS).
08/20/2002 Previous Sale recorded for $1,625,000 (from ACRIS).
04/27/2004 Previous Sale recorded for $1,775,000.
11/18/2005 Previous Sale recorded for $2,250,000.
07/06/2006 Listed by Sotheby's at $2,650,000.
08/04/2006 Price decreased by 6% to $2,500,000.
11/03/2006 Price decreased by 4% to $2,395,000.
02/02/2007 Listing entered contract.
04/02/2007 Previous Sale recorded for $2,275,000.
01/28/2011 Listed by Prudential Elliman at $2,395,000.
06/01/2011 Price decreased by 6% to $2,250,000.
07/15/2011 Price decreased by 7% to $2,095,000.
08/23/2011 Listing entered contract.
09/20/2011 Sale recorded for $1,910,000.
http://streeteasy.com/nyc/sale/580049-condo-500-west-end-avenue-upper-west-side-new-york
Timing of renovation is not exactly clear - most likely before the 2005 sale, but that's a guess. The interesting thing about this sale is that it bucks the recent trend of strength among prewar condos.

500 WEA, #2C: Mirror-image C line - better views, maybe?

All sales from ACRIS:
07/08/2002 $1,522,500 - sponsor sale
01/31/2005 $1,900,000
11/17/2010 $2,150,000

All work seems to have been done prior to '05 sale.

views the same. in addition, c line has only has 2 exposures, lacks northern exposure.

670 West End Avenue #8C: Renovated five, resold 9.9% below 2007 acquisition price. (The ask was the same, but this apartment sparked a bidding war in 2007.) The sellers traded up to a seven at 50 West 96th and probably wanted a quick sale. They priced #8C accordingly and got out fast.
04/19/2007 Previously listed by Prudential Elliman at $1,595,000.
05/16/2007 Listing entered contract.
07/11/2007 Previous Sale recorded for $1,725,000.
08/03/2011 Listed by Brown Harris Stevens at $1,595,000.
09/16/2011 Listing entered contract.
11/29/2011 Sale recorded for $1,555,000.

http://streeteasy.com/nyc/sale/626784-coop-670-west-end-avenue-upper-west-side-new-york

595 West End Avenue #12AB (a.k.a. #12A): Pre-war condo with three bedrooms and two full baths, plus a den and powder room. Resold 10.3% below 2007 sponsor sale.
10/27/2006 Listed by Halstead Property at $2,925,000.
09/12/2007 Sale recorded for $2,978,381.
12/06/2010 Listed by Prudential Elliman at $2,995,000.
02/08/2011 Price decreased by 2% to $2,925,000.
03/21/2011 Price decreased by 1% to $2,895,000.
05/26/2011 Price decreased by 2% to $2,850,000.
06/24/2011 Listing entered contract.
09/26/2011 Sale recorded for $2,670,500.
http://streeteasy.com/nyc/sale/571559-condo-595-west-end-avenue-upper-west-side-new-york
http://streeteasy.com/nyc/closing/2004774

500 WEA 4D, finally sells at $1,895,000. A little over $1000/sq ft for >2BR well located pre-war condo. Has the market bottomed-out yet, or is there more to go?

320 WEA was on a roll last year, but 12B's owner -- selling it herself -- did especially well, moving it quickly and with multiple bids: http://streeteasy.com/nyc/sale/628770-coop-320-west-end-avenue-upper-west-side-new-york

08/21/2011 Listed by Owner at $1,899,000.
09/07/2011 Listing entered contract.
12/12/2011 Sale recorded for $2,000,000.

2B went for the same money in 2006, and a couple of other B's in needs-everything shape went for much less in the meantime.

The recent sale of #9C suggests a bounce for the five-room "C" line at 250 West 94th (Stanton). On the other hand, the sale of #8C in 2009 might be a bit of an outlier, considering the other 2009 sales in the line. The Halstead listing for #9C was priced off #8C, but traded much closer to the previous sales. In any case, prices remain far below the 2008 peak.
--------Recorded Sales----------|--------Previous Listings----------
01/17/2012 # 9C $1,376,000 +15.2% | . $1,195,000 Sold 2 beds 2 baths
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

The four most recent listings all needed extensive work. #10C and #9C probably showed a bit better than the others. #6C was renovated, but not to the extent that the 2008 price can be considered anything but a bubble sale.

118 West 79th...this may have been covered elsewhere but...

07/13/2011 #8A $2,140,000 -6.8% $2,295,000 Sold 3 beds 3 baths 1,800 ft²

8A needed a gut reno. Smelled of cat pee and was virtually uninhabitable.

Along comes 7A with what looks to be in solid if not very good condition and is offered only $160k higher.

http://streeteasy.com/nyc/sale/654514-coop-118-west-79th-street-upper-west-side-new-york?email=true

See also http://streeteasy.com/nyc/talk/discussion/29587-open-house-report-118-west-79th-street-7a

490 West End Avenue "B" line: #6B needs extensive updating, as did the prior sales except for #8B. If the contract price is anywhere close to ask, the turnaround in this smallish seven-room line will be notable.
--------Recorded Sales----------|--------Previous Listings----------
*CONTRACT* # 6B ......................... | . $2,195,000 3 beds
10/07/2010 # 2B $1,675,000 - 9.5% | . $1,850,000 Sold 3 beds 3 baths 1,800 ft²
05/07/2009 # 9B $1,500,000 -24.1% |↓ $1,975,000 Sold 3 beds 3 baths
12/17/2008 # 3B $1,850,000 -21.3% | . $2,350,000 Sold 3 beds 3 baths
08/06/2004 # 8B $1,800,000 - 2.7% | . $1,850,000 Sold 3 beds 2.5 baths 1,900 ft²
http://streeteasy.com/nyc/building/490-west-end-avenue-manhattan

Hilarious.... talk about trying to justify his 25% insider coop price post bubble in UWS.....

What's glaringly missing in my point of view is the MISSING 2007 Sale for $3.0MM. The fact no B line got transacted at the height of the bubble is much more interesting to see than a $2.2MMM 6B sale, which BTW is $2MM with 3% inflation compounded for 3 yrs. Just just trading sideways in real terms.

Another thing the 2004 sale of $1.85MM means, those idiots after 8 yrs are actually going backwards even after a HUGE NYC RE bailout by the feds and 3 yrs of the greatest ramp up in bubble prices in manhattan.

BUT GO ON w81... I hear A-Rod sold for 25% more in 1 yr... go get em' bf you are priced out forever. IF ONE IS GOOD, TWO IS GOODER. It's like buying one share of APPL, no margin and touting APPL.

Let's see some real ballz.

118 Riverside Drive #15A: This well-appointed five-into-six, with views in an "A" building, needed a year and two high-powered broker teams to recoup the sellers' early-2005 acquisition price (less inflation and transaction costs, as w67 would rightly emphasize). The listing has hampered by an awkward kitchen layout, but I don't think that aspect changed between 2005 and 2012.
02/23/2005 Previous Sale recorded for $2,350,000.
02/05/2011 Listed by Brown Harris Stevens at $2,950,000.
04/26/2011 Price decreased by 7% to $2,750,000.
07/05/2011 Price decreased by 6% to $2,575,000.
08/04/2011 Delisted.
10/11/2011 Later Listed by Halstead Property at $2,490,000.
02/09/2012 Sale recorded for $2,380,000.
http://streeteasy.com/nyc/sale/581650-coop-118-riverside-drive-upper-west-side-new-york

W81...the sale of 15A is just short of a miracle given that 9A is listed some 25% lower. I suspect the condition of 9A is not as nice, but that is one hell of a large price spread.

so if walter's correct, 15A is a cherry-pick (intentional or not) among properties which are trading well weaker than 2005 prices

w81, like the guy talking about buying pets.com at $5 and getting out at $5 4 yrs out..... what you fail to mention is the fact pets.com was trading at $100/share.....

So if I were to continue the analogy, the $2.28MM trade in 2/2012 misses the "opportunity" to have sold at $3.5MM in 2007, ignores the 8% in and out fees and the fact the downpayment went backwards w/ regards to inflation. That $705K in downpayment would only buy you 5,875 Barrels of oil versus the 14,100 barrels of oil you could have bought in 2005. And you know Riversider iz ALLz about the INFLATION.

And finally, let's not forget the fact just 8 floors down the SAME line is being marketed at $1.7MM... so much akin to buying a C9 for $28K at the beginning of the credit cycle, I'd say as waltherh7 notes... miracles DO happen. And THIS SALE WAS A MIRACLE.

101 Central Park West #9E: This jaw-dropping nine, with 60+ feet of park frontage and a rear terrace, tested the market unsuccessfully at $11.5MM in 2009, then sold for 13.7% more in 2012.
04/11/2009 Listed by Brown Harris Stevens at $11,500,000.
04/28/2009 Listing is no longer available.
02/15/2012 Sale recorded for $13,075,000.
http://streeteasy.com/nyc/sale/404098-coop-101-central-park-west-lincoln-square-new-york

The apartment was already renovated in 2009, so it seems unlikely that subsequent work accounts for much of the increase in value. Of course, a $13MM cash transaction in one of CPW's most exclusive buildings is a poor yardstick for the broader coop market.

The sale is discussed in further detail here:
http://www.observer.com/2012/03/centerbridge-bridge-boss-jeff-aronson-buys-stress-free-central-park-west-roost/

Wbottom/walterh7: At 118 RSD, #15A and #9A are very different properties. #15A was in move-in condition. #9A needs everything. If #9A sells for anything over $1.5MM, a $250/SF renovation will push the all-in cost to around $2MM. When the work is done (which won't happen any time in 2012), #9A could be even nicer than #15A, and everything will be new; but the view six floors lower still won't be nearly as good. That's a key item on RSD.

@ 101 cpw. Dude that's like pointing to putin's win and using it as a proxy for Russia's progress on democracy. Hilarious.

And I really don't care how you borkers dice and slice same line units post the greatest re bubble know to man. It's like saying the 800lb dude is healthier than 850lb dude. They are both fking fat as shit.

Back to your mom. Do you know after a 33 yr hold, your mama returned 15% compounded annual returns to your family!!!! $28k to $4mm. From 1979 to 2007! That is awesome. Did she invent/invest in a cancer drug? A device that can both telecommunicate and play apps like angry birds? Usher in world peace? Win a Nobel prize for quantum physics?

No! She did it 'housesitting!'. Gotta love his country! I don't think warren Buffett can match your mama's returns!

And no, it's 2012 and it's probably more like $3mm, but you keep pumping w81

300 West End Avenue "B" line. Front-facing 11 in an excellent coop with rich history. The sale of #5B in 2009 was a low-water mark for this sector. The recent sale of #8B, in largely original condition, suggests an ongoing, steady recovery.
----------Recorded Sales----------|----------Previous Listings----------
02/24/2012 # 8B $5,378,000 - 2.2% | . $5,500,000 Sold 5 beds 4.5 baths 3,800 ft²
01/27/2010 #13B $5,000,000 - 4.8% | . $5,250,000 Sold 5 beds 4.5 baths
10/26/2009 # 5B $3,450,000 -37.0% |↓ $5,475,000 Sold 4 beds 3.5 baths 3,800 ft²
10/23/2006 # 5B $5,562,500 - 8.8% | . $6,100,000 3 beds 3.5 baths 3,800 ft²
http://streeteasy.com/nyc/building/300-west-end-avenue-new_york

Within spitting distance of the low water mark sale and 'steady recovery?'

Note the 3 fl elevation difference. Note the 10% appreciation required to break even, note I am up 20% in one week on my sprint position. $67k gain in a week.....

But one should buy now or one will be priced out forever. Flmaozzz

"A" line at Trump Heritage. Looks like someone took a bath on '07 purchase

02/09/2006
Previous Sale recorded for $4,215,555.
05/15/2007
Previous Sale recorded for $6,475,000.
06/15/2011
Listed by Douglas Elliman at $7,250,000.
09/13/2011
Listing entered contract.
11/30/2011
Listing sold.
11/30/2011
Sale recorded for $6,100,000.

http://streeteasy.com/nyc/sale/615818-condo-240-riverside-boulevard-lincoln-square-new-york

Still the buyer paid 2007 prices. If he had bought this 4 bed apt at the Rushmore he could have saved himself almost $2mm from $2100 psf to $1600 (assuming the 5-9% discounts off ask that Rushmore is accepting). Plus he would have had a better view, a better building, more amenities and HALF the carrying charges for a mere cut of 400 sq. ft

http://streeteasy.com/nyc/sale/528447-condo-80-riverside-blvd-lincoln-square-new-york

309/311 West 83rd Street #5A: 2BR duplex with terrace; reduced to 4.8% below the owners' mid-2005 acquisition price. Deal last fall fell through.
06/15/2005 Previously listed by Douglas Elliman at $1,679,000.
07/18/2005 Contract signed.
09/26/2005 Sale recorded for $1,681,515 (recorded as #RES).
04/15/2009 Previously Listed by Douglas Elliman at $1,595,000.
05/14/2009 Douglas Elliman Listing is no longer available.
06/22/2011 Listed by Douglas Elliman at $1,795,000.
07/20/2011 Listing entered contract.
11/15/2011 Re-listed by Douglas Elliman.
12/23/2011 Listing is no longer available.
01/03/2012 Re-listed by Douglas Elliman.
02/08/2011 Price decreased by 11% to $1,600,000.
http://streeteasy.com/nyc/sale/617609-coop-311-west-83rd-street-upper-west-side-new-york

Correction on the last line of the history:
03/14/2012 Price decreased by 11% to $1,600,000.

Not that much of a surprise. At the end of the day, it's still a fifth floor walk-up where you have to go up a spiral staircase to get to the bedroom which is the only access to the terrace. IMHO, further cuts needed.

ph41: 311 West 83rd is a walk-up?\

And why would you want to have an outdoor party/bbq with people and food traipsing thru your bedroom. Ridiculous.

Sorry - my bad. Missed the elevator in the description of the "intimate" building. Still think it's going to need more cuts. Again, access to the terrace only via tight spiral stairs and then through bedroom. But hey, who knows? Maybe they'll find an idiot to pay $3.6 million for the WHOLE TOP FLOOR!!

Trying to sell the same unit as a combo with 5C. But no one bothered to expend even a little imagination with the combined floorplans.

WTF is this funny math? 4.8% below 6/05 purchase... more like 12.8% loss off the bat (4.8% plus 8% transaction cost) plus who in their right minds bids ask on a unit with an identical unit for sale at the same time... funny, it's even on the SAME FKING floor.... meaning if they put down 20% PUFFFFFFFFF ALL GONE. IF a lemming bids 5% below.... meh, I'd bid cash $1.0MM on both and say "come and get your money bf interest rate rises." First to answer wins... (and secretly, I'd love it if both came at me cause at $2.0MM... I could actually come to like a 4 bdrm 2 wing PH home...... FLMAOZzzzzzz.

Honey I SHRUNK MY DOWNPAYMENT.

Otherwise buy the 1bdrm for $400K and have a place for my mommy.....

545 West 111th Street #8C: Small 2/1, resold 6.5% below 2007 acquisition price.
11/06/2007 Previous Sale recorded for $860,000.
08/02/2011 Listed by Corcoran at $869,000.
08/22/2011 Listing is no longer available.
09/13/2011 Re-listed by Corcoran.
10/19/2011 Price decreased by 5% to $824,000.
11/19/2011 Listing entered contract.
02/27/2012 Sale recorded for $804,000.
http://streeteasy.com/nyc/sale/626435-coop-545-west-111th-street-morningside-heights-new-york

That >$56K loss appears to have not ruined their lives. They went and tripled down with this seven a few blocks away: http://streeteasy.com/nyc/sale/579330-coop-355-riverside-drive-upper-west-side-new-york

So for 4 years of residing on 111th St in 900 sq ft:

- $56K capital loss
- $72K transaction costs
- $60K in maintenance
- $140K in interest and/or capital cost at 4% after-tax
- $50K for "recent renovations" to kitchen and bathroom (maybe)

That's $8K a month. Or $7K a month if the renovations were not theirs. For 900 sq ft on 111th St. But they owned it and didn't have to move. For all of 4 years. That's life well spent.

No slow bleed here, prices are holding up, carry on.

inonada: I don't think it's their reno. Otherwise, I think you're in the ballpark; the numbers are terrible.

NWT: He made partner between the two purchases, and who knows what other changes may have occurred in the intervening years. The 111th St. apartment was probably a stopgap, and inonada is right - renting would have been a much better choice. As you note, it seems to be a mistake they can now afford to chalk up to experience.

Regarding the new purchase at 355 riverside, they paid 30% over the same apt on higher floor in 2007. And the 2007 price of $1.8mm is significantly higher than the 2004/5 price of $1.3mm higher floor apts. It doesn't seem that renovations could account for the ever escalating price --especially since kitchens are not shown. And this buyer must be very optimistic, undaunted by earlier loss. Seems to be a post bubble melt up.

Re: 355 Riverside, it looks like the best comp for the new sale of 5W is the 2010 sale of 10WN. The labeling is different (W vs WN) but they have the same floor plan. The listing for 10WN goes on about the great renovation while the 5W listing is conspicuously silent on the topic. Between 5 floors of elevation and what is likely a difference in condition (5W worse), the 5W price does not seem cheap at 12% below 10WN. The 2007 sale of 14W is a 5 room apartment, where 5W and 10WN are 7s.

The really interesting comp is the successive 10W sales for $1.31mm in 2004 and $2.65mm in 2010. Yeah, there was a big reno in between, and that's nice, but this still seems like a big price. Question for those who know the neighborhood: is this area considered notably more desirable now vs. 2004-ish, such that the rising tide of the neighborhood could explain the floating of all boats, including 10WN?

Apt23, you seem to be referencing 14W (2007 Sale). 14W is a cut-up from the original W line representing just shy of half the SF of 5W (you'll note the 2 BR/1.5 bath discription). Actually, 5W is one of only two W lines in the building that was never cut up (even recent sales that seem to be in-tact are, in fact, reconstituted from smaller cut-ups). In other words, 14 W is not a relevant comp. the only relevant in-building comp in recent years is 10W (a reconstituted "original" and full W-line).

>apt23 - the 2007 $1.8M apartment was much smaller - 2 BR 1.5 Baths. Not the same apartment at all.

And now 6W the apartment one floor up is asking, unrenovated, just slightly more than they just paid for 5W. Will be interesting to see where that trades.

Expanding on the comments above by rsm321 (whose insight on this transaction is worth heeding): 10WN was reassembled rather sloppily. 5W was quite clean, although the views were vastly inferior.

We covered this topic, with a guest appearance from the listing broker, here:
http://streeteasy.com/nyc/talk/discussion/24995-355-rsd-5w

215 West 92nd Street #8D: Repeat sale of a rear-facing, 2BR/1.5BA prewar coop, 12.3% above mid-2010 acquisition price. The kitchen was redone between the two sales, although it had already been modernized by a prior owner.
05/03/2010 Listed by Halstead Property at $935,000.
06/29/2010 Listing entered contract.
10/08/2010 Sale recorded for $935,000.
12/13/2011 Listed by Douglas Elliman at $1,095,000.
01/24/2012 Listing entered contract.
03/21/2012 Sale recorded for $1,050,000.
http://streeteasy.com/nyc/sale/649988-coop-215-west-92nd-street-upper-west-side-new-york

always enjoyed this thread...great to see you keeping this alive! I wouldnt think the market made that much of a move since mid 2010 in the sub1M and then slightly over 1m price point. I would have thought it was more like 3-6% or so, and only that high given activity over the last 3 months or so.

Urbandigs: In most market sectors, I think you'd be right. But check the SE UWS index: Around 1800 in spring 2010; it's 2000 now. And I think that's inflation-adjusted, so the move on #8D seems to be in line with the index.

yep it confirms it..but I so see that 4.1% of that 11% move took place over last 3 months. Its sales date based, so that means deals signed into contract 2-3 months prior. Still, the se index is the best we got and its pretty damn good and only covers same unit sales..hard to argue it. In terms of new demand, uws also is a late bloomer so far this year..would love to see SE condo index somehow tied to real time pending sales trends - as a complimentary tool to the index

Yeh! The bubble is back baby! The bubble is back!!!! Hail the bubble. Zeit heil bubble! Nihao bubble! Yes yes yes. Omfg. Thank Allah the bubble is back!

Flmaozz. Why are the rooms in the penninsula shanghai so fking small. For $900 a nite you'd think they can do my laundry AND get a bigger room. The views are nice. Poor renter here traveling the world.... You rich LL enjoy the bubble.

801 West End Avenue #2E: Small interior six with one full bath. Now asking 9.3% below 2007 acquisition price. Timing of renovation unknown.
04/30/2007 Previous Sale recorded for $1,350,000.
01/12/2012 Listed by Warburg at $1,475,000.
01/23/2012 Price decreased by 3% to $1,425,000.
02/07/2012 Price decreased by 5% to $1,350,000.
02/27/2012 Price decreased by 4% to $1,295,000.
03/19/2012 Price decreased by 4% to $1,249,000.
04/06/2012 Price decreased by 2% to $1,225,000.
The bubble was kind to apartments with conspicuous flaws; its aftermath less so.
http://streeteasy.com/nyc/sale/654262-801-west-end-avenue-upper-west-side-new-york

310 West End Avenue #2A: Repeat sale, 9.5% below acquisition price at the peak of the bubble. The intervening Warburg listing is marked erroneously as sold.
05/17/2007 Previously Listed by Halstead Property at $1,365,000.
01/28/2008 Previous Sale recorded for $1,365,000.
06/25/2008 Previously Listed by Warburg at $1,495,000.
11/24/2008 Warburg Listing sold. Last priced at $1,350,000.
07/09/2010 Previously Listed by Halstead Property at $1,445,000.
11/10/2010 Halstead Property Listing is no longer available. Last priced at $1,415,000.
11/10/2011 Listed by Halstead Property at $1,295,000.
01/31/2012 Listing entered contract.
03/23/2012 Sale recorded for $1,235,000.
http://streeteasy.com/nyc/sale/645680-coop-310-west-end-avenue-upper-west-side-new-york

9.5% plus 6%.. What a way to piss away 100% of your downpayment and that's with the dead cat bounce engineered by the zirp policy and 24 month moratorium of foreclosures... Whew! Sellers got off very very very lucky... No imagine of they sold in 2014 with 8% mortgage and foreclosures in nyc ;) oh shit!

It's the net in your pocket... Not some la la land gross. The fact ppl were making money on top of the 6% frictional cost from 2001-2007 should tell you something.

590 WEA "D" line, original condition sponsor units: corner 2BR with views that are much better on high floors. The bidding for #6D shows the recent strength of this sector.
--------Recorded Sales----------|--------Previous Listings----------
04/11/2012 # 6D $1,552,511 +7.1% | $1,450,000 2 beds 2 baths
12/15/2006 #12D $1,461,196 ------ |
http://streeteasy.com/nyc/building/590-west-end-avenue-new_york

470 West End Avenue #12E: Reconfigured six in a prime location. Resold 4% above the price the owners paid in a private 2007 transaction.
05/02/2007 Previous Sale recorded for $2,450,000.
09/21/2011 Listed by Halstead Property at $2,700,000.
10/17/2011 Listing is no longer available.
11/28/2011 Re-listed by Halstead Property.
11/29/2011 Listing entered contract.
04/16/2012 Sale recorded for $2,550,000.
http://streeteasy.com/nyc/sale/635888-coop-470-west-end-avenue-upper-west-side-new-york
Kudos to StreetEasy's resident sleuth, NWT, who determined that the major work probably dates to 1999: http://streeteasy.com/nyc/talk/discussion/28429-470-west-end-12e

610 West 110th Street #4A: Five-room condo, resold 2.2% above 2007-08 sponsor sale.
11/16/2007 Listed by Corcoran at $1,505,000.
12/07/2007 Listing entered contract.
09/16/2008 Sale recorded for $1,532,466.
01/26/2012 Listed by Brown Harris Stevens at $1,575,000.
02/13/2012 Listing entered contract.
04/18/2012 Sale recorded for $1,566,550.
http://streeteasy.com/nyc/sale/154381-condo-610-west-110th-street-upper-west-side-new-york
http://streeteasy.com/nyc/sale/659110-condo-610-west-110th-street-upper-west-side-new-york

After 2000 posts, we're back where this thread began, at 755 WEA ...

755 West End Avenue #14A: This corner seven-into-six, renovated by a previous owner, is starting to show some age. Buyers have reacted accordingly: just reduced to 9.8% below acquisition price at the top of the market.

03/24/2004 Listed by Coldwell Banker at $2,100,000.
05/12/2004 Listing entered contract.
06/14/2004 Sale recorded for $2,250,000.
06/11/2007 Listed by Alice F. Mason at $3,200,000.
10/01/2007 Price decreased by 11% to $2,850,000.
12/28/2007 Listing entered contract.
02/22/2008 Sale recorded for $2,765,000.
02/17/2012 Listed by Corcoran at $2,795,000.
03/20/2012 Price decreased by 7% to $2,595,000.
05/04/2012 Price decreased by 4% to $2,495,000.
http://streeteasy.com/nyc/sale/663679-coop-755-west-end-avenue-upper-west-side-new-york
(Additional data from other sources)