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

522 West End Avenue #10C: Pre-war 2BR with one lavishly renovated bath. Resold 34.7% above Feb. 2011 acquisition price. Renovations pre-dated the earlier transaction.
06/18/2010 Listed by FS&H Properties at $1,095,000.
07/22/2010 Price decreased by 1% to $1,080,000.
09/13/2010 Price decreased by 7% to $999,999.
11/27/2010 Listing entered contract.
02/07/2011 Sale recorded for $950,000.
02/08/2013 Listed by Tudor Realty
07/09/2013 Sale recorded for $1,280,000.
http://streeteasy.com/nyc/sale/815022-coop-522-west-end-avenue-upper-west-side-new-york
http://streeteasy.com/nyc/sale/533648-coop-522-west-end-avenue-upper-west-side-new-york

Here's an "awaits your vision" wreck, with multiple bids ending at 17% above ask: http://streeteasy.com/nyc/sale/841262-coop-285-riverside-drive-upper-west-side-new-york

03/23/2013 Listed by Sotheby's International Realty, Inc. at $2,600,000.
04/11/2013 Listing entered contract.
06/21/2013 Sale recorded for $3,050,000.

The median listing discount for UWS co-ops is down to 1%. It was running 5-ish% a few years ago.

NWT: The listing agent for the 285 RSD sale (one of the nicest people you will meet in the business) was genuinely shocked by the frenzied bidding for that apartment. The previous high for the line was $2.66MM for #8A - renovated - in 2007. #15A had extra elevation, but it needed everything.

Crazy sale, but man that looks like it'll be a winner of an apt once reno'd. Great layout.

845 West End Avenue #8E: Sponsor-renovated classic seven condo; resold 16.1% above early 2012 sponsor sale. The increase reflects a combination of market movement and the condo establishing a track record.
12/08/2011 Listed by Corcoran at $3,195,000.
12/21/2011 Listing entered contract.
02/07/2012 Sale recorded for $3,100,000.
04/16/2013 Listed by Citi Habitats at $3,850,000.
07/08/2013 Listing entered contract.
07/29/2013 Sale recorded for $3,600,000.
http://streeteasy.com/nyc/sale/856736-condo-845-west-end-avenue-upper-west-side-new-york

Comp to apple at $390 is $470

Spoke too soon. $495. What a nice daily gain for w67.

Go team RE!

Unlike team RE. You could have bought this classic Macintosh apple at $383, $400, $415, $450, $470, $495, $525, $550, $575, $600, $700, $800... Oh how apple will rally when china mobile supports the cheap Iphone and apple starts taking over cable and payments.

To team RE!!!!!!!!!

Buy Reno flip! Buy Reno flip! Buy Reno flip! Say it after me. Buy Reno flip!

Let's see ya do that with mortgages at 7%..... Flmaozz.

35 West 82nd Street #8A: Miniature classic six, resold quickly, 19% above 2007 acquisition price. Renovation appears to have pre-dated the 2007 transaction.
05/03/2007 Listed by Douglas Elliman at $1,300,000.
06/22/2007 Listing entered contract.
09/07/2007 Sale recorded for $1,305,000.
04/09/2013 Listed by Warburg at $1,495,000.
04/25/2013 Listing entered contract.
07/23/2013 Sale recorded for $1,552,500.
http://streeteasy.com/nyc/sale/851759-coop-35-west-82nd-street-upper-west-side-new-york

That hallway would make a great bowling alley.

Silly numbers for an apartment of that size.

w67: bot Sprint on your recommendation after due diligence. Was a huge winner. In AAPL at $423. What am I buying next?

Remembering when spinnaker1 liked the cute five-room at 35 W 82nd: http://streeteasy.com/nyc/talk/discussion/8377-a-family-considers-2brs-under-900k

NWT: spinnaker did O.K. with the apartment he purchased.
He dropped-in on se last year to post an update on it: he wasn't underwater on it (as some others here on se predicted he would be, in their comments directed to him).

He certainly did do well. I liked this one, despite all its defects.

Yes, he did do well.
I also liked this one, despite (as you put it) all it's defects. Not bad at all.

Anyone know how much aboutready's apartment appreciated since she bought it with the windfall she received from the lawsuit that caused rents in PCV and StuyTown to increase

http://streeteasy.com/nyc/sale/925988-coop-514-west-end-avenue-upper-west-side-new-york

scant two months on the market. Nice uptick in price.

Holy smokes. We looked at that same line a few floors below to rent a couple years ago and I am floored that is a $1.6m apartment now. Is that for real and what a just OK/smallish 2BR is going for? We left the owner side a few years ago and been renting ever since - not sure we will ever make the owner side again if that is what the prices are these days!

Seems to be for real. Same line is also for sale a few floors below for $100k less. Seems to be prime UWS location so you're paying for that I suppose.

110 Riverside Drive #11C: Viewless classic six in a prime coop. Resold 20% above early 2007 acquisition price, and 9.3% above ask. Renovation pre-dated the 2007 transaction.
11/02/2005 Listed by Corcoran at $2,200,000.
01/28/2006 Listing is no longer available.
05/16/2006 Re-listed by Corcoran.
05/16/2006 Price decreased by 9% to $1,995,000.
08/01/2006 Listing is no longer available.
08/02/2006 Listing entered contract.
08/04/2006 Re-listed by Corcoran.
09/08/2006 Listing entered contract.
01/24/2007 Previous Sale recorded for $2,000,000.
05/11/2013 Listed by Corcoran at $2,195,000.
05/20/2013 Listing entered contract.
08/09/2013 Sale recorded for $2,400,000.
http://streeteasy.com/nyc/sale/732378-coop-110-riverside-drive-upper-west-side-new-york
For comparison, the 2006 listing is http://www.corcoran.com/nyc/Listings/Display/751050

219 West 81st Street #9E: Edwardian five condo reconfigured to four rooms, with three modest bedrooms. Resold for double the 2009 sponsor sale price, 8.4% above ask.
06/03/2009 Listed by Shares of New York at $1,049,500.
06/09/2009 Listing entered contract.
08/31/2009 Previous Sale recorded for $989,000.
05/24/2013 Listed by Douglas Elliman at $1,825,000.
08/21/2013 Listing sold.
08/21/2013 Sale recorded for $1,978,600.
http://streeteasy.com/nyc/property/1135665-avonova-condominium-9e

The 2009 sale was a legitimate arm's-length transaction. Although the sponsor was distressed, and would be forced to liquidate the remaining rent-regulated units in a bulk sale later that year, $989K seems to reflect the mid-2009 of #9E, which was in original condition. The subsequent renovation was nothing special, and already showed signs of wear by 2013; it did, however, make excellent use of the space.

245 West 104th Street #15C: Purchased by a dance superstar as student housing in 2009, this sunny 2BR coop resold 38.6% higher in 2013, without any significant upgrades.
02/04/2006 Listed by Halstead Property at $949,000.
03/10/2006 Listing entered contract.
08/03/2006 Previous Sale recorded for $960,000.
02/24/2009 Listed by Halstead Property at $985,000.
04/24/2009 Listing entered contract.
07/29/2009 Previous Sale recorded for $912,500.
04/16/2013 Listed by Corcoran at $1,150,000.
05/14/2013 Listing entered contract.
08/13/2013 Sale recorded for $1,265,000.
http://streeteasy.com/nyc/property/1227663-the-armstead-15c

250 West 94th Street (Stanton) "A" line: Two classic seven estate sales, separated by three floors, twelve months and $435K. Both apartments were clear candidates for gut renovation. #3A was in better shape overall.
--------- Recorded Sales ----------|--------- Previous Listings ---------
08/26/2013 # 6A $2,800,000 + 7.9% | $2,595,000 3 beds 3 baths
08/28/2012 # 3A $2,365,000 - 1.2% | $2,395,000 3 beds 3 baths
http://streeteasy.com/nyc/building/the-stanton-250-west-94-street-new_york

On a busy corner that overlooks bus and subway stops, the difference in elevation does matter. The frenzied bidding on #6A was nonetheless a surprise. Most potential buyers were overwhelmed by the the necessary work.

Real assets! Real estate is the bomb.

Bernie/mr. valentine has put a floor. Commence bidding. Love the leverage. Love the tax deductible. It's the easiest way to make money. Apple went up after I sold. Damn the equity mkts. No matter what, don't buy apple. Fingerprint technology is a gimmick. Buy a droid phone and unchain yourself from iTunes and Tim's chains.

$400k profit. Ka-Ching!

490 West End Avenue #9B: six-into-seven prewar coop, gut-renovated after 2009 purchase, resold 113% above acquisition price.
06/07/2008 Listed by Corcoran at $2,450,000.
07/31/2008 Off market temporarily.
08/16/2008 Re-listed by Corcoran.
08/16/2008 Price decreased by 1% to $2,425,000.
09/09/2008 Price decreased by 2% to $2,387,500.
10/19/2008 Price decreased by 11% to $2,125,000.
10/25/2008 Price decreased by 7% to $1,975,000.
03/12/2009 Listing entered contract.
05/07/2009 Sale recorded for $1,500,000.
05/31/2013 Listed by Corcoran at $3,200,000.
06/18/2013 Listing entered contract.
09/04/2013 Sale recorded for $3,200,000.
http://streeteasy.com/nyc/property/1204391-490-west-end-avenue-9b

201 West 89th Street (Chester Court) high-floor "B" line: Two classic five estate sales, four years apart, in a line that converts very well to 3BR.
--------- Recorded Sales ----------|--------- Previous Listings ---------
08/13/2013 #10B $1,511,000 +12.0% | . $1,349,000 2 beds 2 baths
07/31/2009 #12B $1,100,000 -12.0% |↓$1,250,000 2 beds 2 baths
http://streeteasy.com/nyc/building/chester-court
In a market starved for inventory, wrecks seem to be sharing some of the gains.

Awesome. Keep it pumping.

Hey when are you gonna leave Keith and start your own firm? Seems silly to pay someone for born earlier.

Oh shit. That's how real estate works. Carry on. Obtw congrats Keith on the little one.

Carl Ichan and Tim Cook to grow some nads and discuss a management buyout of APPLE given $150B in cash, no respect from public equity mkts and Bernie's free money!!!!

2nd on agenda. Apple to open amazon like shop for everything/internet portal and skim 10%. Just like iTunes.

3rd on agenda. Apple to introduce rice covered iphone to combat Samsung blatant copying of iPhones.

4th on agenda. Apple to give away reading glasses for older iphone users and 3lb weight for people worried about the small form factor!

490 west end ave, 9B.. wow....just, wow. Gosh this is going to end badly.

walterh7: One factor in sales like 490 WEA #9B and 239 CPW #6E is that the cost and hassle associated with renovating a pre-war coop have risen rapidly. $400/SF is tossed around routinely, and it's the lucky owner who gets done in less than a year. So a nice, recent, taste-neutral renovation that hits all the hot buttons (kitchen, baths, walls, floors, AC, flow) draws a big crowd of buyers who will pay up to stay out of the reno vortex.

It's hard to measure the divergence between pristine listings and wrecks like the Chester Court sale above, but it seems to be growing.

35 West 92nd Street #4C: Renovated five in a "C" coop. Resold 18% above 2007 acquisition price. Improvements all appear to pre-date the prior sale.
02/09/2007 Previously Listed by Halstead Property $1,299,000
05/09/2007 Previous Sale recorded $1,350,000
03/19/2011 Previously Listed by Halstead Property $1,350,000
04/09/2013 Listed by Halstead Property $1,650,000
04/25/2013 Price decreased by 3% ↓$1,595,000
05/24/2013 Listing entered contract $1,595,000
09/17/2013 Sale recorded $1,595,000
http://streeteasy.com/nyc/sale/851500-coop-35-west-92nd-street-upper-west-side-new-york

205 West 76th Street #401: Four-room condo, resold 41.7% above December 2010 acquisition price.
10/10/2007 Previously Listed by Related Sales
06/29/2009 Previous Sale recorded for $1,726,407.
10/23/2010 Previously Listed by Corcoran
12/23/2010 Previous Sale recorded for $1,800,000.
06/26/2013 Listed by Sotheby's International Realty at $2,495,000.
07/25/2013 Listing entered contract.
09/18/2013 Sale recorded for $2,550,000.
http://streeteasy.com/nyc/sale/933161-condo-205-west-76th-street-upper-west-side-new-york

221 West 82nd Street #2G: Call it a "large 6". Renovations were significant but not likely to be more than $300k. Huge price jump. Not likely to be much if any discount from list price. bubbly.

12/20/2010 Previous Sale recorded for $1,260,000.
08/16/2013 Listed by Coldwell Banker Bellmarc at $2,375,000.
11/13/2013 Listing entered contract.

http://streeteasy.com/nyc/sale/984422-coop-221-west-82nd-street-upper-west-side-new-york?email=true

GO GO TEAM RE !!!!! GO GO!

To INFINITY AND BEYONDDDDDDDDDDDDDDDDDDD!

That's some big azzed DDD cups.

215 West 88th Street (Merrion) "E" line: A pair of six-into-fives, with the same sponsor renovation. Up 67% since 2009 - probably a bit more, considering the difference in elevation.
--------- Recorded Sales ----------|--------- Previous Listings ---------
11/22/2013 # 8E $2,500,000 - 3.9% | $2,600,000 3 beds 2 baths 1,542 ft²
11/12/2009 #12E $1,500,000 -13.9% | $1,795,000 3 beds 2 baths 1,542 ft²
http://streeteasy.com/nyc/building/merrion-condominium

515 West End Avenue #3B: Modest 3BR/2BA coop. Renovated around 2001, adding central air. Re-sold 34% above January 2010 acquisition cost, and 22% above ask.
10/02/2009 Listed by Warburg at $1,550,000.
11/07/2009 Listing entered contract.
01/11/2010 Sale recorded for $1,675,000.
09/29/2013 Listed by Corcoran at $1,850,000.
10/19/2013 Listing entered contract.
01/09/2014 Sale recorded for $2,250,000.

we understand that the price increase, but also assume that square footage of the apartment increased moreso, such that it is actually $500psf now.

220 West 93rd Street #PHB: 2BR/1BA penthouse with lavish private deck. Resold 51% above 2010 acquisition price. The 2010 buyer removed (or concealed) some of the previous owners' taste-specific finishes. but I don't think she made any major investments.
06/15/2010 Previous Sale recorded $1,625,000
06/27/2012 Previously Listed by Corcoran $2,250,000
09/25/2012 Corcoran Listing is no longer available $2,250,000
05/29/2013 Listed by Corcoran $2,395,000
09/14/2013 Listing entered contract $2,395,000
10/16/2013 Re-listed by Corcoran $2,395,000
04/15/2014 Listing entered contract $2,395,000
08/29/2014 Sale recorded $2,450,000

321 West 78th Street #9D: Standard classic six in an excellent location. Resold 67% above 2009 acquisition price, with no significant capital improvements.

04/29/2005 Previous Sale recorded $1,985,000
10/11/2008 Listed by Brown Harris Stevens $1,895,000
01/31/2009 Listing entered contract $1,895,000
04/14/2009 Sale recorded $1,600,000
04/16/2014 Later Listed by Warburg $2,495,000
08/21/2014 Sale recorded $2,660,000

845 West End Avenue #4C: Resale of a 6-into-7 condo, 23% above 2011 purchase price from the sponsor.
09/27/2010 Previously Listed by Corcoran $2,295,000
10/13/2011 Previous Sale recorded $2,295,000
04/18/2014 Listed by Halstead Property $3,125,000
05/08/2014 Price decreased by 4% ↓ $2,995,000
07/07/2014 Listing entered contract $2,995,000
08/06/2014 Sale recorded $2,970,000

Correction: The increase on 845 WEA #4C was 29%.

43 West 64th Street #4A: 4BR//4BA Liberty Lofts condo, resold 69% above 2009 acquisition price.
04/30/2009 Previously Listed by Brown Harris Stevens $4,750,000
08/07/2009 Previous Sale recorded $4,200,000
11/06/2013 Listed by Douglas Elliman $9,000,000
03/28/2014 Price decreased by 1% ↓ $8,880,000
04/03/2014 Price decreased by 4% ↓ $8,500,000
05/02/2014 Price decreased by 6% ↓ $7,995,000
05/19/2014 Price decreased by 3% ↓ $7,750,000
05/30/2014 Price decreased by 8% ↓ $7,100,000
07/12/2014 Listing entered contract $7,100,000
08/27/2014 Sale recorded $7,100,000

325 West 86th Street #11C: Smallish, renovated classic six-into-five, resold 31% above 2009 acquisition price. No significant work done since prior sale. Same broker too. Interesting sale in that the 2008-2009 listing got caught in the worst of the downdraft, and the 2014 listing was boosted by the uptick in the spring, after initially languishing.
03/08/2008 Listed by Corcoran $2,295,000
04/11/2008 Price decreased by 13% ↓ $1,995,000
05/22/2008 Price decreased by 5% ↓ $1,895,000
07/03/2008 Price decreased by 5% ↓ $1,795,000
10/14/2008 Price decreased by 8% ↓ $1,649,000
02/07/2009 Listing entered contract $1,649,000
05/05/2009 Previous Sale recorded $1,473,750
04/02/2014 Listed by Corcoran $1,950,000
04/12/2014 Price decreased by 8% ↓ $1,799,000
05/14/2014 Listing entered contract $1,799,000
08/20/2014 Sale recorded $1,926,000

223 West 80th Street #7: Floor-through, loft-style condo, resold 44% above late 2010 acquisition price. It's possible the buyers didn't know about plans for view-killing development across 80th Street.

12/29/2005 Previous Sale recorded $1,720,842
03/23/2007 Previously Listed by Douglas Elliman $2,150,000
07/01/2008 Off market temporarily Last priced at $2,300,000
05/05/2010 Previously Listed by Corcoran $1,795,000
11/21/2010 Corcoran Listing sold $1,795,000
12/30/2010 Previous Sale recorded $1,635,000
04/10/2014 Listed by Brown Harris Stevens $2,295,000
05/02/2014 Price increased by 4% ↑ $2,395,000
05/28/2014 Listing entered contract $2,395,000
09/18/2014 Sale recorded $2,350,000
http://streeteasy.com/sale/1074695-condo-223-west-80th-street-upper-west-side-new-york

200 West End Avenue #3A: 2BR/2.5BA condo with substantial outdoor space, resold 60% above 2009 sponsor sale.

06/22/2009 Previous Sale recorded $1,593,561
10/24/2013 Previously Listed by Halstead Property $2,395,000
11/06/2013 Halstead Property Listing is no longer available $2,395,000
04/23/2014 Listed by Halstead Property $2,550,000
07/11/2014 Listing entered contract $2,550,000
09/04/2014 Sale recorded $2,550,000
http://streeteasy.com/sale/1078105-condo-200-west-end-avenue-lincoln-square-new-york

25 Central Park West #3B: 2BR/2BA condo at the Century, resold 28% above 2013 acquisition price, with no evident improvements.

10/30/1997 Previous Sale recorded $560,000
03/29/2013 Previously Listed by Coldwell Banker Bellmarc $2,395,000
07/29/2013 Previous Sale recorded $2,150,000
06/30/2014 Listed by Dolly Lenz Real Estate LLC $2,890,000
07/18/2014 Listing entered contract $2,890,000
09/11/2014 Sale recorded $2,750,000
http://streeteasy.com/building/the-century-condominium/3b

wow. crazy one on the 43w64 street w/ market up 69% from lows in 2009. Have you seen the new UD west81st?

https://www.urbandigs.com/

Our time model that powers the new price your apartment tool (it provides suggested settings going back to may 2008 using our own index), has general market up 53% from mid 2009 to today. But these examples are always great to give us a sense of market action for diff areas/price points. etc..keep it up!!

41 West 82nd Street #1C: Modestly proportioned 3BR/2BA on the ground floor of a well-run 38-unit coop in the middle of a prime block. Renovated prior to 2012 sale, with a few subsequent cosmetic enhancements. Resold 38.6% above 2012 acquisition price, and 15.6% above ask. More evidence of tight supply in the $1.5-2.5MM range - especially units in move-in condition with sought-after school assignments.
10/07/2011 Previously Listed by Jan Asher, LREB $1,695,000
11/18/2011 Delisted by Jan Asher, LREB. Last priced at $1,445,000
12/01/2011 Previously Listed by Fenwick Keats Real Estate $1,445,000
05/07/2012 Fenwick Keats Real Estate Listing sold Last priced at $1,350,000
06/13/2012 Previous Sale recorded $1,334,926
05/16/2014 Listed by Douglas Elliman $1,600,000
06/04/2014 Listing entered contract
09/15/2014 Sale recorded $1,850,000
http://streeteasy.com/sale/1084527-coop-41-west-82nd-street-upper-west-side-new-york

90 Riverside Drive #11F: Inward-facing classic six in a prime coop, with a pleasantly neutral renovation that hits all the key requirements without any frills. Resold 62.1% above 2005 estate-condition acquisition price and 16.2% above ask. Daunting price for a viewless RSD six. The low point for this line was the sale of #15F for $1.53MM in late 2008. That one needed renovation, but it also had significantly better light.
03/01/2005 Previous Sale recorded $1,800,000
02/23/2006 Previous Sale recorded $1,860,000
06/06/2014 Listed by Brown Harris Stevens $2,595,000
06/30/2014 Listing entered contract $2,595,000
09/10/2014 Sale recorded $3,015,000
http://streeteasy.com/sale/1089931-coop-90-riverside-drive-upper-west-side-new-york

Correction: The Sellers' acquisition date for 90 RSD #11F was 2006, not 2005. The 2005 estate-sale buyers resold without renovating.

215 West 88th Street (Merrion Condo), low floor "G" units with sponsor renovations. 73.4% increase from the 2009 low, for a unit one floor closer to the street.
---------- Recorded Sales ----------|---------- Previous Listings ----------
09/09/2014 #3G $2,774,731 +11.2% | . $2,495,000 3 beds 2 baths 1,676 SF
08/18/2009 #4G $1,600,000 -15.6% |↓ $1,895,000 3 beds 2 baths 1,676 SF

Any new comps from West81 or others? UWS?

I'll play: 305 West 98th, #5DS, 1,200 sf Convert-3, 2-BA.
Purchased 12/2007 for $1.16M
Sold 3/2015 for $1.325M

340 West 86th Street #3A: Pre-war five-room condo with lovely period details. Resold 23.5% above 2008 acquisition price. The 2008 contract was post-peak, pre-crash. Not much work done on the apartment during the intervening years. The building shows better than it did in 2008.
10/09/2003 Previous Sale recorded $967,500
04/11/2008 Listed by Douglas Elliman $1,895,000
05/04/2008 Price decreased by 5% ↓ $1,795,000
08/07/2008 Listing entered contract
09/25/2008 Sale recorded $1,700,000
09/12/2014 Listed by Corcoran $2,300,000
10/17/2014 Price decreased by 5% ↓ $2,195,000
02/03/2015 Listing entered contract
03/31/2015 Sale recorded $2,100,000