Sale at 60 Gramercy Park North #6B

possible, but think that the seller may also need $$ for another home that they have purchased and other expenses? sellers also have costs they need to attend to, like everyone else. you don't have to buy it at that price. i'm pretty certain everyone would try to profit as much as they can. after all, isnt that what we learned human nature is at the end of the day?

Human nature is either fear and greed. Just watch any episode of deal or no deal.

Wait for sellers fear to kick in, you'll be shocked at how low they will go once fear kicks in

deal or no deal is the worst show in modern history. seriously. (sidetracking, i know). it is a perfect example of greed in our society. the show completely puts down the value of $100 - in fact everyone claps when the suitcase is open and there is any number to the left of board in it. we need to start valuing every penny again. disgusting.

and to answer your point - that will all depend on market conditions at the end of the year, i think. if there is no job then its not going to be fear it going to be necessity. if there is a job, then there will be hope that things will turn around. its a home, after all - its not an investment for everyone. maybe condos/investment properties will tank, but not so sure about coops.

rsrkkr, what would you pay for this place?

considering that commercial properties and apartment complexs purchased at the top of the market in 2006 are now being apprasied at 30-40% lower than sale prices - I think 25% below 2006 is fair. I would not pay more than 1.5mm. I know the market is not there now - but I think the market will get there eventually

I agree, the problem is there is only 3 2bd apartments facing the park that traded in the last 5 yrs in the whole neighborhood...so my worry is it trades away

It's generous and beyond-honest of the broker to list it as a 2/2, when there's a maid's room and bath.

Less-than-gracious layout, though, in that guests have to walk through a bedroom to get to a bathroom.

good point alanhart