More rent/buy math on the UWS

yes...but the more relevant math (and of course, unknowable) is whether the underlying price will go up or down over time. ironically, i think the rent being asked is probably on the high side as well!

This place is overpriced...the kitchen is from the 70's (at best) and that wall of mirrors made me dizzy. The bathrooms have been redone and are nice (certainly when compared to the kitchen) but the fixtures are nothing special.
Saw a place on 78th and WEA, 2 BR, 2 Bath that was at least 40% larger and $995K.
Although the fireplace is nice, the pink walls, kitchen and built ins are gross.
And if they simply got some of their crap out of there it might show better (or, if you want to rent, no sooner then May 1st)
Good luck with that!

a TWO bedroom COOP for sale or for rent? This downturn is going to be bloody.

but for us upperwestside renters (or buyers) it will be beautiful!

Place is an eyesore. Ugly, ugly, ugly. No WAY I'd pay $4k for this second floor tackapalooza.

I think for $3K I would think about it...but those walls and mirrors are really gross.

No way it sells for over $1000/s.f., and I have it ballparked around 1050 sf

Yeah, hi JohnDoe, your second math works better than your first, or a 43.1x P/E is more accurate. The real rent vs. buy math is that the owner nets the $26K per year, or that the renter is effectively paying the owner $26K and then paying maintenance of $21.4K

Second floor is an issue (how is noise in that location?), and the kitchen is not great, but I think the $4K rental price is actually pretty reasonable. Good-size two bedroom, big living room, nice floors, pretty good location, open kitchen, etc.

Asking sale price is another story, of course...

I agree that the place would show better with less crud, plus renting in a coop is a pain, so it may take some time and/or a price drop to rent, despite the $4K not being outrageous.