How much would you pay?

not enough information, you have to look at the whole picture.

coop or condo? zip code? floor? elevator? doorman? carry cost? view? "possible reconfiguration" makes it sound like a mess of a layout.

co-op, 10023, high floor, elevator, doorman, cc $2,200, park view-ish, needs a new kitchen and bath at minimum

Thanks for your advise

living, dining, eat-in kitchen

McDreamer, are you not posting the link because you are worried that someone is going to put in an offer and steal this place away from you? Seems kind of overly paraniod to me, you will get better feedback if you post the specifics...

You are right.

http://www.bellmarc.com/search/profile.asp?list_num=W1119270W#

How much would you pay? Comps look like $1,080,000... I'm a dreamer, afterall

It's pretty obvious which apartment it is, but I'll leave it to McDreamer whether to post the link.

Unless you're in love (and yes, it's a great block) offer $975K and tell them you're determined to stay under the mansion tax threshold.

Oh, OK... Never mind.

I saw this place probably 6-8 months ago. Pretty much everything needs to be redone. It is a great space but I don't know what to do with it. The place can be fantastic if you were an architect and can see what you can do. It is north facing and doesn't have a park view unless you count the plants on the terrace of the facing building. Before you can make an offer perhaps you might want to consult an architect to evaluate your options and their respective cost.

Thanks West81, never mind? How much would you pay for it as is HSW? Thank you for your insight.

McDreamer: I just meant "never mind" about keeping the address a secret, because you provided the link while I was typing my previous post.

Great location, cool space. Good luck.

West81st, Hi, I was under the impression that the offers should come in lower than what you are proposing based on the fact that the comps on McDreamer's unit are coming in at $1,080,000.
What is happening to the idea that the values are at 25% of peak?
Some predictions on these threads have been at 40% or even more percent?
I heard that some really low offers are beginning to get counter offers from the respective sellers.

I'm guessing 800-900k max b/c I suspect 100-300k renovations at least. I would also build an open second floor in that great room but don't know a reasonable estimate.

Saw it 6 months back. That is a really cool space. Awesome light, great block, etc, etc. It is in VERY bad shape. Also, the resident who lives in what used to be the second floor of the apartment is determined not to leave and won't listen to offers at any price (unbelievable but true). If all you want is a 1BR, this is a great space that I could see going for 1100 sq ft as is. If that upper level ever becomes 'move-able' then it goes up from there. Well up.

it had a second floor? where were the stairs? how many rooms?

The stairs are (were) in the kitchen closet. But IIRC you can still see the stairs in the closet and there is a door from the hallway.

hsw9001...yep. stairs off the kitchen

Don't know for sure but I believe the upstairs is a 'reverse L' shape. the living room is the only space that is double height.

Looks like a nice space in a good location. But assume at least 200-300k for renovations. 100k estimate someone else posted is very low in NYC. If you price this apt at $1,000-$1,200 per foot AFTER renovations, that would imply a purchase price of about $1M, well below $1.65M asking price. 975k bid idea cited above sounds about right.