west81st: housetown at 311 West 75th Street, "just" $6M

Hi, Admin. I don't follow the townhouse market very closely, and I haven't seen 311 West 75th. I know there are on-market comps on the adjacent blocks for $11-12MM, but those are ridiculous prices, and those houses don't need significant work. Actually, one of those comps - 311 West 74th - sold in estate condition for $4.7MM at the top of the market, so I'm not sure 311 West 75th is a bargain, even after the recent $2MM cut. All that old wood does make me drool, though, and the elevator is obviously a plus.

I would imagine the school across the street is a concern. It's not exactly an architectural jewel.

Visited this a few weeks ago. It has a large extension, which makes the very large middle room on each floor dark. Because of the large extension, it feels too big to be used as a single-family home. And it needs a huge amount of work. All the original beautiful inlaid wood floors have been torn up and there isn't much in the way of detail left except for the staircase. 311 West 74th had way more details.

I thought this went into contract (not on streeteasy).

thanks a lot to both!

The same investor bought 241W71 for 2.85m.