If You Can Demonstrate Market Movement With Comps: Midtown Edition

22 became penthouse. clever.

AR - it was described in original listing (2006) as penthouse - and that floor is the penthouse.

WEst81st - if it sells for anywhere near the asking, it will definitely go down as one that defies market trends

note comment above: "depends on the extent of the renovation."

A while back there was a story in either the paper or a magazine about either that one or another double-height casement-windowed one at the top of the building. The kind of places I fall in love with, before the practical issues dawn on me.

Re. 30 Fifth Avenue #PH17F. Since there's no comp for the apartment, the relevant comparison might be "China Beach" vs. "Desperate Housewives".

CC: Re tudor city place- unless they gold-plated everything can't see how they could spend $500-700,000 on what is not a very large 2BR/2Bth,(and they aren't even showing pictures of the kitchen, baths.

Hope the buyer knows that the views from the apartment will be gone when the buildings go up on the East River.

since we don't even have the price at which it sold isn't this conversation a bit premature? especially for a comps thread.

AR - yes, probably is too soon, but since it went to contract so fast, a logical assumption would be that the selling price is not going to be 25% less than listing, which would still be quite a counter-market sale. Let's just see when it closes.

333 W. 56th - Parc Vendome
02/09/2005 Previous Sale recorded for $480,000.
06/20/2008 Currently Listed in StreetEasy by Halstead Property at $1,200,000.
02/04/2009 Listed in StreetEasy by Corcoran at $1,099,000.
06/20/2009 Listing entered contract.
08/06/2009 Listing is no longer available.
08/21/2009 Listing entered contract.
08/24/2009 Listing sold.
08/24/2009 Sale recorded for $987,000.
09/19/2009
Listing sold.

PV realty (PV stands for Parc Vendome), the seller of 4I in 2005 - it may have been an insider sale by sponsor in 2005, because large 1brs were certainly not selling at PV for 480k in '05. Ali/FP?

The original sponsor of Parc Vendome went bust and different investors snapped up different parcels (similar situation to 235 east 22nd Street) and then each had different methodologies of dealing with their piece of the pie. Ali probably knows more about what eventually happened, but even the amenities got auctioned off - I remember a foreclosure sale on the "gym" unit that no one seemed to want because the monthly carrying between CC and RET was huge. Anyway, there were a decent amount of "insider" sales way after conversion as a result of all of this, and I agree with nyc10023 that there's a good chance the 2005 sale here was either not arms length or to an "insider".

Interesting series of sales, of #1C at http://www.streeteasy.com/nyc/sale/391383-condo-248-east-31st-street-kips-bay-new-york

09/2009...$950,000 -25%
01/2007.$1,270,000 +79%
02/2003...$710,000 +34%
11/2000...$530,000 +129%
03/1998...$231,000 -3.75%
06/1987...$240,000 -4%
02/1984...$250,000 (new construction)

nwt, that's a brilliant find.

NWT, that's the bubble in a nutshell. Something like 500% appreciation in 10 yrs. followed by a steep-but-insufficient fall in the last two. The 2 sales in 2000 and 2003 are like connect-the-dots kind of markers. If Greenspan hadn't allowed the bubble to inflate after 2003, maybe we would be in line with inflation now.

very interesting. in 1998 the manhattan real estate market was significantly undervalued, so the massive increase to the 2000 sale makes good sense. 2003, ok. 2007, insane. 2009? we will have to see. but at least it isn't totally deranged.

A same-unit resale at the Navarro, http://www.streeteasy.com/nyc/building/110-central-park-south-new_york, gutted and co-oped in 2006:

11/2009 #24 $10,500,000 -29%
05/2006 #24 $14,775,000

The sellers are hanging on to #2B, the studio they'd also bought in 2006.

207 East 57th. 2 more trades bring the post Lehman data set to 3, following 4C (discussed on the first page of the thread) which sold down a bit from a late 2006 flip but still up from the original mid 2006 purchase from developer. The latest data points came in respectively down and way down from the original purchases.

#9A10A
11/02/2009 #9A10A $1,500,000
06/09/2006 #9A10A $1,550,000

#6B
03/18/2009 #6B $1,200,000 (closed in March but sale just recorded in ACRIS in Nov)
06/23/2006 #6B $1,552,831

some of the midtown buildings that were less desirable are seeing fairly significant price depreciation. the chesapeake house is one of them. 201 E. 28th The D and G lines are both jr.4s. evnyc, if you can stand post-war bland, this is in your price range in a non-fringe neighborhood.

10D, $640k 10/09, $676k 11/04
3D, 719 04/09, 675 03/06
8D, 905 12/08
14D, 940 08/08, 735 03/06
2D, 677 05/06

4G $630k 10/09
8G 878 06/07, 720 01/06
5G 720 01/06

#26C at Museum Tower: http://www.streeteasy.com/nyc/building/15-west-53-street-new_york

8/2009 $1,200,000 ..-14%
9/2005 $1,400,000 +217%
6/1995 ....$442,000 ..+10%
1/1987 ....$401,000 (new construction)

more new development pain. one of the earlier closings, so it may have entered contract earlier.

http://www.streeteasy.com/nyc/building/310-east-53-street-new_york
12/22/2006 Previous Sale recorded for $1,996,050.
10/14/2009 Listed in StreetEasy by Prudential Elliman at $1,795,000.

the orion

http://www.streeteasy.com/nyc/building/350-west-42-street-new_york
11/15/2006 Previous Sale recorded for $1,140,440.
02/11/2009 Listed in StreetEasy by Corcoran at $1,299,000.
02/24/2009 Price decreased by 8% to $1,199,000.
04/03/2009 Price decreased by 2% to $1,175,000.
04/23/2009 Price decreased by 5% to $1,120,000.
05/15/2009 Price decreased by 2% to $1,100,000.
07/10/2009 Price decreased by 5% to $1,050,000.
09/09/2009 Listing entered contract.
11/06/2009 Listing sold.
11/06/2009 Sale recorded for $975,000.
11/19/2009 Listing sold.

14 Sutton Place South - 2C. Just sold for less than the 2005 price

09/29/2005 Previous Sale recorded for $825,000.
09/17/2008 Listed by Brown Harris Stevens at $985,000.
11/08/2008 Price decreased by 10% to $885,000.
02/10/2009 Price decreased by 10% to $795,000.
05/13/2009 Price decreased by 6% to $745,000.
06/25/2009 Listing entered contract.
10/26/2009 Sale recorded for $660,000.
10/27/2009 Listing is no longer available.

Not just less than 2005, 20% less that 2005! Interesting since the low end of the market (for this purposes let's call low end sub $1mm in the bizarre price world that is Manhattan) has allegedly held up much better because it is accessible to so many more buyers, including those with non-Wall Street incomes, much of it is eligible for conforming mortgages, etc. Or not.

Sponsor-sale alcove studio with WBFP at the Southgate: http://streeteasy.com/nyc/sale/379579-coop-781-fifth-avenue-lenox-hill-new-york

09/18/2008 Listed by Classic Marketing at $525,000.
11/05/2008 Price decreased by 6% to $495,000.
11/20/2008 Price decreased by 6% to $465,000.
04/29/2009 Price decreased by 9% to $425,000.
10/21/2009 Listing entered contract.
12/14/2009 Sale recorded for $365,000.

9B, same but no WBFP, went for $457,500 in 2007.

Oops, listing is http://streeteasy.com/nyc/sale/350017-coop-400-east-52nd-street-beekman-new-york

BTW, the PH at 5 Tudor City Place discussed above ended up closing for $1,825,000, on 12/7.

http://streeteasy.com/nyc/sale/385638-condo-333-east-34th-street-murray-hill-new-york

04/20/2007Previous Sale recorded for $555,000.
02/19/2009Listed by Brown Harris Stevens at $595,000.
04/09/2009Price decreased by 8% to $550,000.
04/14/2009Price decreased by 9% to $499,000.
05/29/2009Listing entered contract.
10/03/2009Re-listed by Brown Harris Stevens.
11/05/2009Listing entered contract.
01/04/2010Listing sold.
01/04/2010Sale recorded for $475,000.

this is kind of interesting. no listing, bank sale. took BONY a year, for whatever reason, to unload it. purchased the unit 12/10/08 for $175,531, sold 12/31/09 for $321,000, $677 psf, well below building average. closest comp i can find, no idea of condition of either unit, is 8G, which sold for $445,000 in 12/05.

http://streeteasy.com/nyc/closing/950905

cool. someone should start a thread to compile foreclosures and short sales. ar, do you recall another one discussed at some length a couple of months ago (downtown comps thread maybe?)? it was a messy paper trail with a mortgage, a HELOC, both securitized, etc., etc. Basically Vegas on the Hudson

SLS: I remember that one. I believe it was UWS. Shades of Godfather !V via Russia as I remember.

i think apt23 is right. i listed a couple on the downtown comps thread, but they were more straightforward, if i recall. sls, weren't you the one to navigate the murky waters of that headache-inducing set of transactions?

i still need to do my chelsea new development thread and one for market movement with comps, new developments. i'm a busy woman.

aboutready listed a resale in the Orion further up this page. Here is another one. This one down 9% vs. 14% in the other case.

http://streeteasy.com/nyc/sale/436571-condo-350-west-42nd-street-clinton-new-york
12/30/2009 #41D $1,350,000
09/15/2006 #41D $1,486,645

http://streeteasy.com/nyc/sale/467769-coop-349-east-49th-street-sutton-place-new-york

07/26/2005Previous Sale recorded for $310,000.
10/01/2009Listed by Citi-Habitats at $299,999.
01/07/2010Listing sold.
01/07/2010Sale recorded for $280,000.

now thats interesting

Wow, under 300K for a kitchen, a bathroom, and a place to sleep in manhattan with a reasonable maintenance.

It may be time to push my folks for a pied a terre.

worldwide plaza. maybe they'll get a bidding war. unlikely, there's another unit in the same line, higher floor and higher ceilings, at a slightly lower price.

http://streeteasy.com/nyc/sale/489298-condo-350-west-50th-street-clinton-new-york
10/05/2005Previous Sale recorded for $1,380,000.
01/15/2010Listed by Prudential Elliman at $1,295,000.

11 East 36th Street (Morgan Lofts). This could as easily go on the new dev resale thread, but btc posted #605 on the first page of this thread when the ask fell below the previous sale so I thought it belonged here for continuity. The sale ended up closing another 20% below ask and 27% below the 2007 purchase from the developer.

http://streeteasy.com/nyc/sale/356077-condo-11-east-36th-street-midtown-south-new-york
05/04/2007 Previous Sale recorded for $1,085,994.
10/08/2008 Listed by Corcoran at $1,250,000.
10/29/2008 Price decreased by 8% to $1,150,000.
12/11/2008 Delisted temporarily.
02/07/2009 Price decreased by 14% to $985,000.
09/18/2009 Listing entered contract.
10/27/2009 Listing sold.
10/27/2009 Sale recorded for $788,000.

There was also interesting action in #404, which is the only other post-Lehman closing in the building. The original owner got taken out of her 2007 purchase at slightly above cost in a mid-2009 relo, with the relo company selling the property the same day for 22.5% less, or 20% less than the 2007 sale.

http://streeteasy.com/nyc/sale/316449-condo-11-east-36th-street-midtown-south-new-york
05/03/2007 Previous Sale recorded for $733,000.
06/28/2008 Listed by CBHK at $799,000.
08/16/2008 Price decreased by 3% to $779,000.
09/12/2008 Listing entered contract.
02/05/2009 Re-listed by CBHK.
02/28/2009 Price decreased by 8% to $717,250.
03/10/2009 Price decreased by 16% to $600,000.
05/15/2009 Listing entered contract.
06/02/2009 Listing sold.
06/30/2009 Sale recorded for $585,000.
06/30/2009 Sale recorded for $755,000.

Also at the Morgan Lofts, PH1201 is asking $1,799,000, 16% below the original (Feb 2008) purchase price of $2,150,000. The mortgage on PH1201 totaled $1,500,000, or $857 psf, which is well above where #605 ($736 psf) and #404 ($819 psf) sold. Even allowing a psf premium for elevation and the larger layout, there doesn't look like a ton of equity value left here. Maybe sell for $1.6mm area?

2/2.5 condo at Dag Hammarskjold: http://streeteasy.com/nyc/sale/476088-condo-240-east-47th-street-turtle-bay-new-york

05/xx/1984 Sale recorded for $552,500.
12/xx/1987 Sale recorded for $545,000.
02/xx/1999 Sale recorded for $632,500.
09/xx/2001 Sale recorded for $885,000.
11/03/2009 Listed by Halstead Property at $1,475,000.
12/03/2009 Listing entered contract.
01/22/2010 Sale recorded for $1,400,000.

isnt that kinda high price for todays market in that area....just wonderin

Seems to be the going rate. #35D, same size and two floors up, went for $1.5M in November. Same line 18 floors down went for $1.2M almost a year ago. Don't know about relative condition, though, and in a 25-year-old condo there's lots of scope for differences there.

NWT,

This is a great example for a variety of reasons. First, it gives the lie to the idea that apartments were always incredibly cheap in NYC before 2000. In 1984 this nice but unspectacular two bedroom sold for 550k. Less than tripling an investment in twenty five years is not exactly a stellar return.

If we assume 2% inflation for the past 25 year period, that would account for the entire increase up to 900k. It's fair to assume that, given the secular changes to NYC and particularly Manhattan since 1984, real estate would increase faster than the rate of inflation. Still, the ROI for this apartment was less than 4% annually since 1984--only 2% above inflation. This is without considering transaction costs, taxes, etc.

During the period during which this apartment tripled in value, the Dow went up 9-fold.

hr, but it's kind of interesting to look at it from a 1999 to present perspective as well. 11 years rather than 25.

jim, i think this building has a lot of diplomats. they need condos, and tend to buy near the UN, which helps support prices, at least to some extent. although my theory is not holding up so well in some of the UN plaza units, if i recall correctly.

The 80s were particularly high-inflation times, and if you look at CPI during that period, it was 2.8% a year or 2.1x over the 26 years. That is awfully close to the 3.6% rate above, or 2.5x overall.

using the cpi calculator (again, some argue it understates inflation, i think)at http://data.bls.gov/cgi-bin/cpicalc.pl

then: 553 in 1984 is 1141 in 2009

or: 632 in 1999 is 813 in 2009

aboutready,

sure, you could use 1999, but i think that's a mistake. it seems pretty clear that NYC real estate lagged behind changes in the city and the stock market during the 1990s--the markets basically shot up, crime plummeted, etc, but real estate remained pretty flat. I think that the price inflation between 1998 and 2002 or 2003 can more or less be attributed to catch-up from the lagging 1990s.

if you take 1999 as your baseline, then it is easy to argue that NYC real estate should go to zero. if you take the 80s, then the declines should be more moderate. either way, i think there is still some air to come out of the real estate balloon, but i do not see it going to 1999 levels, barring a major unforeseen catastrophe.

100 West 58th (Windsor Park).

6C - same unit resale 25% below early 2006 purchase from developer
http://streeteasy.com/nyc/sale/367635-condo-100-west-58th-street-central-park-south-new-york
01/22/2010 #6C $1,335,000
02/13/2006 #6C $1,675,000
I note the Russian name and address of the buyer here. I wonder if 25% below 2006 is what RE bulls mean when they say European buyers will put a floor under Manhattan prices...

10E - same unit resale 16% below early 2007 purchase from developer
http://streeteasy.com/nyc/sale/378189-condo-100-west-58th-street-central-park-south-new-york
09/29/2009 #10E $800,000
02/12/2007 #10E $950,000

There may be more resales, although most of the closings the last six months or so have been the developer finally dumping inventory at prices WAY below 2006/2007 same line comps.

hr, we shall see.

http://streeteasy.com/nyc/sale/497690-coop-16-park-avenue-midtown-south-new-york

02/06/2007Previous Sale recorded for $625,000.
09/12/2008Previously Listed by Halstead Property at $765,000.
01/15/2009Halstead Property Listing is no longer available. Last priced at $699,000.
01/28/2009Previously Listed by Prudential Elliman at $649,900.
07/22/2009Prudential Elliman Listing is no longer available.
02/21/2010Listed by BSRG Realty at $459,000.
02/21/2010Also Listed by BSRG Realty at $459,000.
02/21/2010Also Listed by BSRG Realty at $459,000.

still seems very overpriced to me. small one bedroom with high maintenance.

http://streeteasy.com/nyc/sale/406413-condo-420-east-58th-street-sutton-place-new-york
03/15/2007Previously Listed by Prudential Elliman at $525,000.
08/29/2007Prudential Elliman Listing sold.
08/29/2007Previous Sale recorded for $525,000.
04/23/2009Listed by Chapin Group East at $499,000.
07/24/2009Price decreased by 3% to $485,000.
08/07/2009Price decreased by 3% to $469,000.
09/02/2009Price decreased by 2% to $459,000.
09/20/2009Currently Listed by Chapin Group at $459,000.
10/08/2009Price increased by 2% to $466,000.
10/16/2009Price decreased by 2% to $459,000.
11/25/2009Price decreased by 2% to $449,000.
01/08/2010Listing entered contract.
02/03/2010Sale recorded for $415,000.

345 East 57th Street #11B: Same-unit resale of a pre-war 2BR/1.5BA coop, 16% below 2007 basis. No listing for the resale, so it might not have been arm's-length.

05/23/2007 Listed by Stribling at $1,225,000.
08/10/2007 Sale recorded for $1,115,000.
03/09/2010 Sale recorded for $935,000
http://streeteasy.com/nyc/building/345-east-57-street-manhattan

225 Fifth Avenue (Grand Madison) #10A: Same-unit resale of a 2BR/2BA condo, 7.3% below 2006 sponsor sale.
11/29/2006 Previous Sale recorded for $1,780,000.
11/10/2009 Listed by Prudential Elliman at $1,695,000.
02/06/2010 Listing entered contract.
03/08/2010 Sale recorded for $1,650,000.
http://streeteasy.com/nyc/sale/477721-condo-225-fifth-avenue-midtown-south-new-york
Lehman followers will recognize the buyer.

West81st - interesting. A $1.65mm 2/2 in Midtown South is a far cry from where this family used to shop...

http://streeteasy.com/nyc/closing/117489

True, though I think the sisters also have different tastes. BTW, for our purposes, the subsequent (unsuccessful) re-listing of that apartment might be more relevant than the purchase.

220 Madison Avenue PHDE - This has got to be one for the record books! Or, subtitled some people are just incredibly lucky!

07/10/2008 Listed by Halstead Property at $3,000,000.
10/02/2008 Price decreased by 4% to $2,895,000.
11/26/2008 Price decreased by 4% to $2,775,000.
6/15/2009 Sale recorded for $2,636,750.
Buyer decides he's going back to India (think he had been with the UN) - puts it up for sale 4 months after he closed.

10/20/2009 Listed by Corcoran at $3,350,000.
11/11/2009 Price decreased by 10% to $2,999,000.
12/11/2009 Listing entered contract.
01/20/2010 Listing sold for $2,925,000

Oh ph41, you naughty, naughty boy(?) (girl?). Don't you know that comps threads are for trades where prices went DOWN? Price increases are best ignored altogether (by definition reflective of stupid lemming buyers), but if they must be posted they should at least be rationalized and dismissed as irrelevant and not a true reflection of the market, which, to repeat, must go down. Note that this is particularly true of same unit trades between mid-2009 and present, where it is especially important to demonstrate that the market continues to decline, not firm up, or, God forbid, bounce or anything ridiculous and obviously impossible like that. Anyway, I doubt this will be a problem going forward, since prices only go down, so surely there won't be any more of these pesky and misleading apparent price increases that need to be rationalized and dismissed.

Also a nice and safe way to pass on a bribe. ;)

"Also a nice and safe way to pass on a bribe. ;)"

Is that a rationalization or a dismissal? Sounds more like dismissal to me, but I would be interested in how you were thinking about it.

It was A JOKE!

truth - I actually think this was a case of someone fairly high up at the UN, meeting someone at a cocktail party,or some other function, and convincing them it was a great deal. Some people just have luck - this seller certainly did - plus hubris - actually initally priced it at almost $700K over what he had paid.

In fact it probably just covers the taxes he paid on the previous purchase and the commision he paid to the broker.
The seller does have an interesting bio easily readable on wiki.

truth - give it up - he made some money on this transaction - possibly not a huge amount, but come on, int that period of time? Also, do UN personnel pay NY taxes on real estate? I know they don't pay sales tax, but not sure about the bigger things - plus this guy probably had his government cover his costs.

If your point is that transaction costs in real estate are high, then agreed. If your point is that the owner roughly breaking even after costs means that the new buyer didn't really pay a higher price, well, not so much.

My point was that I live by the UN, I hate the UN, and they are all dirty rotten scoundrel thieves.
It just seemed like a funny tie together conspiracy theory.

Now on the actual transaction,taxes were listed on the purchase seperately, in the the nieghborhood of 70K, add the broker's commission on the sale thereafter,... what's really left of the 289K difference in purchase and sale.

Taxes were paid in the tranaction(s), the wives of both parties are in the documentation as well.

I absolutely believe that the new owner paid a significantly higher price. I was totally amazed that anyone would pay that price, after the apartment had been on the market so long before the previous sale went through.

Guess not everyone subscribes to Streeteasy. I don't think anybody looking at the listing/sale history would have paid anywhere close to that. But then again, the seller appears to be quite wealthy, and might have been willing to hold it indefinitely until he got his price.

He paid 10% higher. Hey if the wife loves the apartment, the wife loves the apartment.

BTW ph41, had my eye on PH9 , 5 tudor city. I loved the bones (from the pics). Was really surprised it went for 1.9. Especially considering those views will be gone after they contruct that monstrous apartment complex in the old Con Ed site.

And this were they moved from
http://streeteasy.com/nyc/rental/573172-coop-305-east-40th-street-murray-hill-new-york
Quite a step up!
We're movin on up...movin up...to the eastside.....do a dee luxe apartment...in the skyyyyyhi.

{the internet and privacy don't seem to mix}

truth - how DO you find this stuff out? It doesn't list the buyers' address? You're scaring me!!!

truth - and PH9 at Tudor City had one major drawback - though the big terrace is spectacular, it's up 2 flights of stairs from the living room - not great for entertaining.

ph41
It might be on page 2, 3, or 4, don't remember. But where it says Grantee/buyer.
Look at the mailing address for the purchaser underneath his or his wife's name on the transaction when they bought the property in June. No guarantees but logic would dictate that's their likely last place they are moving from. Mailing addresses as purchaser are the same for both husband and wife.

No, no clandestine service training,I just read the boring stuff most look over.

Revisiting 207 East 57th, the competition between 6 listings in the mid- to higher floor A line unit has been partially resolved with two closings (22A, 20A), one pulled (17A), another off the market but perhaps sold (18A) and two still going at it (14A, 16A). The 7.7% increase in 22A vs. 20A is interesting. A couple of floors of elevation doesn't account for all of it, so the rest is either the market firming up (bull version) or a stupid lemming buyer of 22A (bear version). Take your pick.

http://streeteasy.com/nyc/building/place-57
03/30/2010 #22A $2,100,000 -15.8% $2,495,000
10/20/2009 #20A $1,950,000
04/10/2007 #11A $2,025,000
03/28/2007 #16A $2,075,000
01/22/2007 #27A $2,575,000
12/27/2006 #25A $2,350,000
11/28/2006 #27A $2,061,956
11/01/2006 #26A $1,832,850
10/06/2006 #21A $2,392,887
10/03/2006 #25A $2,011,043
09/20/2006 #23A $2,545,625
09/06/2006 #20A $2,240,150
08/31/2006 #24A $2,545,625
08/31/2006 #22A $2,418,343

* the wide range of the original sponsor sales in 2006 - $1.8mm-2.5mm - is interesting. The recent closes are either flat to 2006 pricing or down ~20%, depending on which 2006 reference point you pick
* I would not want to be the 2007 flippee buyer of 27A

i'm still seeing signs that the market for smaller less expensive units is not as strong as some would lead us to believe.

http://streeteasy.com/nyc/sale/410945-coop-333-east-53rd-street-sutton-place-new-york
05/20/2005Previous Sale recorded for $525,000.
05/04/2009Listed by Prudential Elliman at $575,000.
10/22/2009Price decreased by 6% to $540,000.
12/01/2009Listing is no longer available.
12/08/2009Re-listed by Prudential Elliman.
01/28/2010Listing entered contract.
03/30/2010Listing sold.
03/30/2010Sale recorded for $505,000.

another 345 E. 57th sale, 12B, went for even less than 11B, mentioned by west81st above.

http://streeteasy.com/nyc/sale/416824-coop-345-east-57th-street-sutton-place-new-york

05/07/2008Previous Sale recorded for $1,125,000.
06/02/2009Listed by Stribling at $950,000.
07/08/2009Price decreased by 5% to $899,000.
11/18/2009Price decreased by 3% to $875,000.
02/09/2010Listing entered contract.
03/29/2010Listing sold.
03/29/2010Sale recorded for $855,000.

one bedroom in a kips bay building that was historically quite inexpensive. 15F, probably needed new kitchen and bath. 12F, no idea of condition, sold for $580,000 06/05.

http://streeteasy.com/nyc/sale/229115-coop-305-east-24th-street-kips-bay-new-york
05/03/2008Listed by Prudential Elliman at $575,000.
06/25/2008Delisted temporarily.
08/13/2009Later Listed by Nardoni Realty, Inc. at $525,000.
11/10/2009Nardoni Realty, Inc. Listing entered contract. Last priced at $485,000.
03/08/2010Sale recorded for $460,000.

same unit resale, jr. 4.

http://streeteasy.com/nyc/sale/450474-coop-136-east-56th-street-midtown-new-york

08/24/2005Previous Sale recorded for $660,000.
09/01/2009Listed by Prudential Elliman at $650,000.
02/04/2010Listing entered contract.
03/08/2010Listing sold.
03/08/2010Sale recorded for $600,000.

same unit resale, renovation looks recent (prior sale was an estate sale). decent sized one bedroom, looks a bit dark.

http://streeteasy.com/nyc/sale/434096-coop-205-west-54th-street-times-square-new-york

06/03/2005Previous Sale recorded for $520,000.
09/25/2008Previously Listed by Margaret Bassett Real Estate at $625,000.
06/29/2009Delisted by Margaret Bassett Real Estate. Last priced at $525,000.
07/03/2009Listed by Brown Harris Stevens at $525,000.
08/04/2009Price decreased by 5% to $499,000.
09/22/2009Price decreased by 5% to $475,000.
01/21/2010Price decreased by 5% to $450,000.
02/12/2010Listing entered contract.
04/19/2010Listing sold.
04/19/2010Sale recorded for $425,000.

320 East 57th Street #7C: Renovated Sutton 2/2, closed 8.8% below early 2007 basis. Timing of improvements is not clear. The main renovation appears to pre-date the first sale, so the resale isn't a horrible result. Slipping under the Mansion Tax threshold probably helped.
08/17/2006 Listed by Prudential Elliman at $1,150,000.
10/13/2006 Listing entered contract.
12/13/2006 Re-listed by Prudential Elliman.
01/19/2007 Listing entered contract.
03/05/2007 Previous Sale recorded for $1,080,000.
12/12/2009 Listed by Corcoran at $990,000.
02/12/2010 Listing entered contract.
05/03/2010 Sale recorded for $985,000.
http://streeteasy.com/nyc/sale/483899-coop-320-east-57th-street-sutton-place-new-york

350 West 42nd Street (Orion) #6L: Repeat sale of a new-construction 957 ft² 2BR/2BA condo. Details are convoluted, but the trend is pretty clear.
06/05/2006 Previous Sale recorded for $967,337.
02/24/2007 Previously Listed by Brown Harris Stevens at $1,199,000.
09/19/2007 Brown Harris Stevens Listing sold. Last priced at $1,100,000.
09/19/2007 Previous Sale recorded for $1,005,000.
03/25/2008 Previously Listed by Bond New York at $1,195,000.
10/03/2008 Bond New York Listing is no longer available.
01/16/2009 Listed by TDG/The Real Estate Group at $1,100,000.
07/13/2009 Price decreased by 9% to $1,000,000.
08/28/2009 Listing is no longer available.
10/08/2009 Re-listed by TDG/The Real Estate Group.
10/08/2009 Price increased by 7% to $1,070,000.
02/07/2010 Delisted.
04/15/2010 Listed by Century 21 NY Metro at $925,000.
05/06/2010 Listing sold.
05/06/2010 Sale recorded for $803,907 (after $10 intra-family transfer)
http://streeteasy.com/nyc/sale/375665-350-w-42nd-st-clinton-new-york
http://streeteasy.com/nyc/sale/514215-condo-350-west-42nd-street-clinton-new-york

west81st, check out the purchaser on that orion deal.

Yes, the bottom-fishers appear to have moved in at Orion.

Same line, one floor apart, one renovated and the other in estate condition:

Estate: http://streeteasy.com/nyc/sale/390511-coop-60-sutton-place-south-sutton-place-new-york

01/12/2008 Previously Listed by Corcoran at $825,000.
07/22/2008 Delisted temporarily by Corcoran. Last priced at $749,000.
03/09/2009 Listed by Corcoran at $749,000.
07/01/2009 Price decreased by 5% to $710,000.
01/20/2010 Listing entered contract.
01/31/2010 Listing is no longer available.
02/19/2010 Listing entered contract.
03/31/2010 Listing is no longer available.
04/09/2010 Listing entered contract.
05/13/2010 Listing is no longer available.
05/13/2010 Sale recorded for $675,000.

Renovated: http://streeteasy.com/nyc/sale/473389-coop-60-sutton-place-south-sutton-place-new-york

02/06/2006 Previous Sale recorded for $675,000.
10/22/2009 Listed by Halstead Property at $759,000.
12/07/2009 Listing entered contract.
03/26/2010 Sale recorded for $759,000.

@ NWT

"hey dude, where'd my equity go?"

2/2.5 down 7% from 2006: http://streeteasy.com/nyc/sale/471684-condo-60-east-55th-street-midtown-new-york

12/12/2006 Previous Sale recorded for $2,087,412. (from sponsor; contract also 12/2006)
11/20/2008 Previously Listed by Corcoran at $2,500,000.
08/06/2009 Corcoran Listing is no longer available. Last priced at $2,450,000.
10/16/2009 Listed by Stribling at $2,195,000.
05/13/2010 Listing entered contract.
05/20/2010 Sale recorded for $1,940,000.

kitchen renovation is listed as "recent." can't really tell from the pictures.

http://streeteasy.com/nyc/sale/422042-coop-210-east-36th-street-murray-hill-new-york

12/20/2005Previous Sale recorded for $550,000.
03/21/2009Previously Listed by CBHK at $565,000.
06/08/2009CBHK Listing is no longer available. Last priced at $525,000.
06/12/2009Listed by Corcoran at $499,000.
08/03/2009Listing is no longer available.
09/10/2009Re-listed by Corcoran.
09/10/2009Price increased by 9% to $545,000.
11/03/2009Price decreased by 8% to $499,000.
03/24/2010Listing entered contract.
05/13/2010Listing sold.
05/13/2010Sale recorded for $482,000.

#80C down 4.5% from 2007 basis, at http://streeteasy.com/nyc/building/trump-world-tower, the dermatologist's delight.

75-83C are same plan/PCI. 81C omitted, as it originally sold as a combo.

80C 05/25/2010 $5,300,000
82C 10/01/2009 $4,850,000
82C 01/16/2008 $5,770,000
80C 09/28/2007 $5,550,000
79C 07/27/2007 $5,000,000
77C 04/05/2005 $4,000,000
78C 11/02/2004 $3,700,000
76C 04/18/2002 $3,584,500
82C 08/29/2001 $3,771,000
79C 08/24/2001 $3,258,500
77C 07/30/2001 $2,724,000
78C 07/30/2001 $3,050,000
83C 07/24/2001 $3,953,000
80C 06/29/2001 $3,258,500
75C 06/26/2001 $2,821,000

Just noticed that 82C is now trying to flip for $6,000,000: http://streeteasy.com/nyc/sale/516905-condo-845-united-nations-plaza-turtle-bay-new-york

horrible location, to me, but a condo within conforming loan limits.

http://streeteasy.com/nyc/sale/490106-condo-630-first-ave-midtown-east-new-york

05/05/2006Previous Sale recorded for $730,000.
01/20/2010Listed by McNeil Real Estate at $745,000.
04/24/2010Listing sold.
05/06/2010Sale recorded for $675,000.

horribly high maintenance, although the seller also kicked in six month's worth. looks like the seller renovated, as well.

http://streeteasy.com/nyc/sale/377918-coop-457-west-57th-street-clinton-new-york

01/07/2005Previous Sale recorded for $469,000.
01/29/2009Listed by Corcoran at $540,000.
04/15/2009Listing is no longer available.
09/05/2009Re-listed by Corcoran.
09/05/2009Price decreased by 6% to $505,000.
02/05/2010Listing entered contract.
05/03/2010Sale recorded for $465,462.
05/04/2010Listing is no longer available.

went for over ask, but under last sale. renovations look newish, alcove studio with w/d in unit.

http://streeteasy.com/nyc/sale/496971-condop-242-east-25th-street-kips-bay-new-york

03/28/2006Previous Sale recorded for $444,032.
02/18/2010Listed by Prudential Elliman at $425,000.
03/22/2010Price decreased by 6% to $399,000.
04/12/2010Listing entered contract.
05/04/2010Listing sold.
05/04/2010Sale recorded for $410,000.

didn't bother to look at the condition of all the comps, but this one seems to be in good shape so condition isn't a factor.

http://streeteasy.com/nyc/sale/489714-coop-16-sutton-place-sutton-place-new-york

01/17/2010Listed by Corcoran at $1,595,000.
02/01/2010Listing entered contract.
05/04/2010Listing sold.
05/04/2010Sale recorded for $1,540,000.

8B $1,805,500 03/07
16B 2,400,000 02/07
15B 1,600,000 04/05
16B 1,685,000 03/05
11B 1,320,000 08/04

another trump world tower, results not quite as good, done from 2005 basis.

http://streeteasy.com/nyc/sale/492578-condo-845-united-nations-plaza-turtle-bay-new-york
11/01/2005Previous Sale recorded for $1,175,000.
01/28/2010Listed by Trump at $1,250,000.
02/25/2010Listing sold.
05/11/2010Sale recorded for $1,137,500.

new development resale, early sale for building so contract may have been earlier. could have been worse.

http://streeteasy.com/nyc/sale/414291-condo-310-east-53rd-street-sutton-place-new-york

10/24/2006Previous Sale recorded for $3,885,692.
05/18/2009Listed by Corcoran at $4,250,000.
08/13/2009Listing is no longer available.
01/06/2010Re-listed by Corcoran.
01/06/2010Price decreased by 11% to $3,800,000.
02/11/2010Listing entered contract.
05/05/2010Listing sold.
05/05/2010Sale recorded for $3,700,000.

a bit above an '04 price. i don't know when they started closings in 425 fifth. this also may have had an earlier contract date.

http://streeteasy.com/nyc/sale/481294-condo-425-fifth-avenue-midtown-south-new-york

07/12/2004Previous Sale recorded for $1,058,980.
11/30/2009Listed by Prudential Elliman at $1,275,000.
02/23/2010Listing entered contract.
05/06/2010Listing sold.
05/06/2010Sale recorded for $1,100,000.

another new development resale where unit was one of the earliest closings, possibly earlier contract date.

http://streeteasy.com/nyc/sale/502104-condo-100-west-39th-street-midtown-south-new-york

06/21/2006Previous Sale recorded for $638,442.
03/12/2010Listed by Stribling at $655,000.
04/23/2010Listing entered contract.
05/07/2010Listing sold.
05/07/2010Sale recorded for $608,000.

mid-2005 pricing at the Parc Vendome

http://streeteasy.com/nyc/sale/487165-condo-340-west-57th-street-clinton-new-york

05/08/2003Previous Sale recorded for $730,000.
07/11/2005Previous Sale recorded for $995,000.
01/06/2010Listed by Corcoran at $1,295,000.
01/07/2010Listing is no longer available.
01/14/2010Re-listed by Corcoran.
01/14/2010Price decreased by 8% to $1,195,000.
02/18/2010Price decreased by 8% to $1,099,000.
04/12/2010Price decreased by 9% to $999,000.

The Vendome (where I'm an owner, though I'm not the agent on the listing posted above) has been having some building-specific issues, including the Sheffield bankruptcy (there is some financial interconnection between the two buildings) and city permit issues re: the Hudson Hotel. I think those are all on their way to being resolved.

ali r.
DG Neary Realty

'being resolved' Famous last words at the Alamo!

2005 prices, next stop 2003! Flmao. You can't stop this train wreck! Thxs aboutready, always good with a cup of coffee.

i aim to please, w67th.

new listing, slightly above mid-05 sales price.

http://streeteasy.com/nyc/sale/528986-coop-139-east-33rd-street-kips-bay-new-york

06/27/2005Previous Sale recorded for $581,000.
06/01/2010Listed by Prudential Elliman at $600,000.

cityspire same-unit resale. about 10% below 2005 sale. tortured listing history.

http://streeteasy.com/nyc/sale/62714-condo-150-west-56th-street-midtown-west-new-york

08/02/2005Previous Sale recorded for $1,995,000.
01/18/2007Listed by Prudential Elliman at $2,450,000.
01/22/2007Listing is no longer available.
02/01/2007Re-listed by Prudential Elliman.
08/14/2007Price increased by 14% to $2,800,000.
09/28/2007Price decreased by 14% to $2,400,000.
12/02/2008Price decreased by 8% to $2,200,000.
02/19/2009Listing is no longer available.
06/04/2009Re-listed by Prudential Elliman.
06/04/2009Price increased by 13% to $2,480,000.
07/14/2009Price decreased by 20% to $1,980,000.
05/01/2010Listing is no longer available.
05/03/2010Listing entered contract.
05/27/2010Sale recorded for $1,800,000.
06/02/2010Listing is no longer available.