What's wrong with this place?

I haven't seen it, but from the floorplan it looks like an alcove studio with 1.5 baths, but was priced as a junior four.

But, even as an alcove studio at 980 sq ft in manhattan, that seems like a pretty low price per sq foot, even with 1K in monthlies.

"live/work" might have something to do with it... this might not be a residential building.

i visited this place 2 yrs ago. it was actually pretty nice..

mostly likely the live/work thing. it will probably trade for somewhere in the 500-600k range if that.

also, they only allow daytime showings, people cant see it after work then... stupid.

You have to see it during daytime because all the windows face another building so it's difficult to get a gauge on natural light. I have been wondering the same thing how this location is significantly less than others with similar sq/ft. Even at this price, however, there seems to be more room to negotiate and/or lower the price.

Price Per Square Foot only matters if this place is truly 980SF. I don't think it is.

- It's priced like a junior four, but looks like an alcove studio. It would take 1 minute in the apt to determine how right I am.
- I bet the stairs/elevator is built into that 908sf inflated number. I'd want to read the offering plan to see how the SF is calculated. If the stairs/elevator is built in, then the actually SF is at least 25% less then what's quoted.
- Stefanie, you sound like the broker. No offense.
- Jenny, you sound like the broker under another alias. If you're not, tell us if it was really 908 sf? I doubt it from the pictures.

ha, definitely not a broker...the place came up in my saved search and i was surprised to see a place of this size with updated kitchen. I figured something must be wrong with it which is what I said in the 1st place. Brokers don't usually point that out!

Could someone please explain what live/work means, implications and how it impacts the value?

Note that PH and the third floor (a 2BR) are also for sale. Are there any other units in the bldg, or is everything for sale? Also, look at price chops on third floor. Clearly everyone is desperate to unload apts. this building. Earlier listing for the 2BR mentioned very high maintenance that the seller was willing to assume for a year. Elliman listing doesn't say anything about that now, just quotes much lower figure. Something fishy about the omission?

Live/work may mean it is not zoned residential. If this is the case, you will have to get a commercial loan. A commercial loan means more money down, higher rates & different underwriting guidelines.

Also, if you are looking to use it as a residence, you may have to deal with neighbors who are using their residences as quasi-businesses.

I've seen the third floor unit (which, incidentally, is relevant as the the skylights in 2R open onto the third floor's back patio). The building is actually pretty nice (small renovated lobby, updated keyed elevator). I'm no fan of the location, though--that stretch of 6th avenue is way too commercial for my taste. In terms of what folks here are saying, I don't think the live/work description means too much, but I *would* seriously doubt the sq. footage assessment. Based on the floorplan upstairs I bet this feels pretty tight. And, for what it's worth, I wouldn't want to know that my upstairs neighbor could peer down into my bedroom from their deck chairs.

So a room less than 7' wide is suited to your needs as a bedroom? This unit's floor plan is a joke. Take a cold hard look at the living room/bedroom space and if you squint just a little bit I bet you can see a lovely studio unit. Places like this give Manhattan real estate a bad name.

Sorry stephanie/jenny, I apologize. I've seen lots of junior fours (understandably) pose as 2BR's, but never an alcove studio pose as a junior four (in price). This is a new low unless someone can refute!

Well, I can confirm the square footage and the view this weekend, I plan on attending the open house.