Price Collapse: 246 W. 17th Street 4B

more to go

Wow. "1.65 billion" must be a world-wide record for a piece of RE. Must be some apartment.

The really sad thing is the vulture (brokers) make money no matter which way the market moves. You would think the people who were conned into buying this POS would remember who screwed them and stay away. But they don't. I will never understand human nature. Imagine, 6% of $1.6mm for walking through an apartment and saying "this is the kitchen, this is the bath" in a cheap suit with too much makeup.

sorry for the typo. 1.65 million.

i dont see any evidence that this thing sold for any price. where did you find this?

>>> The really sad thing is the vulture (brokers) make money no matter which way the market moves. You would think the people who were conned into buying this POS would remember who screwed them and stay away. But they don't. I will never understand human nature. Imagine, 6% of $1.6mm for walking through an apartment and saying "this is the kitchen, this is the bath" in a cheap suit with too much makeup.

I don't know ... listen, there are a lot of dishonest brokers out there. But there are good ones too - the one my husband and I use (and we've never actually bought a place, but she has helped us look on and off for four years) is terrific. I'll say several things:

1) The fee is split between buying agent and selling agent, and much of that goes to the firms for advertisments, etc.

2) They only get paid when something closes. The one we have has been working with us for years - not that we have been looking consistentely for 4 years, but she has done a lot of work for us. She is proactive - sends us listings when they come up, finds comps to price whatever we're looking at currentely - but not pushy; she actually discouraged us from buying one apartment which we liked because it required a gut rennovation and she didn't think the cost to purchase + cost of rennovation would make the apartment fairly priced.

So sure, there are some bad ones out there. They are agents, of course, and it is your job to spend your money wisely. The people who blame their brokers for "making" them buy a place at the height of the market should only blame themselves. It's quite fashionable on this board to rip on brokers, and while I am not defending every one of them, I think it's unfair to say they are all overpaid swindlers.

"You would think the people who were conned into buying ..." Conned? How? How were they tricked? How was their intelligence, will and personal autonomy overcome by someone in "a cheap suit?" The buyers were victims? Puh-leeze. Come on. People with enough money to buy a place aren't "conned" by a broker--at best they abdicate personal responsibility for their choices and try to find someone to blame other than themselves. We all make choices and live with the consequences. Love brokers or hate them or don't care about them--but they don't MAKE you do anything. You choose to.

this sale just showed up on Acris. should show up on streeteasy in a couple of days.

Where do you see this? I can't see it when I look at the listing.

I guess somebody beat me to the punch.

I wonder what they'll do with the unsold units on the first & second floors, each with carrying cost of $4000+/month.

they are having an open house on sunday though. are you sure it was unit 4B? the broker told me they would never go this low just last week.

Seems like there is new construction on every other block in Chelsea. Can't help but wonder what is going to happen to pricing when all of this comes on stream and the Great Recession rolls on.

1.65MM all cash with no mortgage...that changes the picture...