highest and best at the majestic!!!

oh, in case you forgot, my email is rglazer@bhsusa.com

there is ZERO chance they get 1,999,999 for this. It is 1700 f2 at best. It would trade $1,150 f2 if it were in great condition.

$1,445,00 is closer to fair value

"The co-op board requires 50 percent of the purchase price to be paid in cash, and any buyer must have a net worth of three times the purchase price."

Yeah, it's sick, all right. Besides being able to come up with the $2mil+, you have to have a net worth of $6 mil? Why can the coop boards get away with these kind of restrictions on net worth? What if your net worth was only $4mil. Doesn't the coop board think they'll be able to get their maintenance payments out of you every month?

Sure, I'll bid 1m.

guys, its 2200 sf! this is a very fancy co-op. please don't blame me for the requirements! patient, this isn't a typical co-op. Most units go for over 1500 psf.

AR: I know the building, am in it at least once a week. (childrens friends). It is NOT 2,200 sq ft. Get your calculator out.

Except in the most flush of times, per square foot price in co-ops like these can be lower than other less stringent co-ops due to the financial requirements. I thought this was common knowledge.

patient, have you seen it?

No, I have not been in the unit. I have been in that line on a higher floor. I am in 3-4bed market.

Rachel: I think a few interior photos would be more persuasive than bold caps. But I congratulate you and Ms. Maitland for creativity.

I will eat crow if you get a $2MM cash offer for that apartment by Thursday. The more interesting question is: What will you do if this tactic fails? Immediately cut the ask to something even lower?

This is an estate sale and I think it's all cash to the lucky heir. So why not start bidding with no reserve right from the start.

lets see what happens guys. this article just came out this morning and we have a dozen appointments to see. this is a PRIME bldg so I really think someone will come forward. the apartment needs work but not an overhaul or anything. If I had that kind of money I would buy it. Seriously!

Rachel, are photos coming?

ali r.
[downtown broker]

AR:
I won't eat crow (you know, west nile and all..), but if you sell this thing for 2mm or more I will leave you a gift certificate at Sushi of Gari for dinner. And, I will yell out on the street that you are truly a selling machine! I think your best bet will be for an adjacent apt to want to do a combination.

let me get some more. the ones we have posted are quite limited. where can i send ali?

I will take you up on this patient :)

AR: In your professional opinion. What is the livable sq ft of this apt?

Rachel, send them to my work email: ali [at] dgneary [dot] com.

TIA

ali r.
{downtown broker}

P09: Don't be mean. The interior space is clearly around 1700.

Patient, this is a really big place. I'd say at least 2000. It's got a formal DR, HUGE master, foyer, etc... See plan on web page http://brownharris.com/detail.aspx?id=535231

I did look at the link, its about 1700, maybe its a duplex and the other floor isn't showing up.

Sq. feet does seem about 1700. I multiplied out the area on the floor plan and came to 1353 sq/ft. Add two little corridors and the closets and I don't think you find another 800 sq/ft. The numbers as posted by the agency on the floorplan don't add up to 2200.

AR - Like your style and chutzpah, but no way that is 2200 feet. Not saying that 2 mill isn't a good deal for a high floor 5 at that address, but it isn't 2200 f2.

That's an interesting proposal, provided that the issue of what the actual size of this apartment is can be resolved. How 'firm' do you think the coop board is on the net worth requirement of 3x the price of the apartment. Will they relax that requirement? I can pay 100% cash for this.

We talked about this apartment in another thread. It is the listing that only shows a picture of the corner of the fireplace. Not much to go on. Haha. How much to renovate it?

Someone else mentioned before that it is against Brown Harris's policy to publish a square footage number. Why bother publishing a number? It only leads to fighting, as we see here.

Go get'em BaronArtz. If you can afford the purchase price and have reasonable income to come up with the $2500 a month maintenance figure, why should you be prevented from buying a place like this because of some silly requirement of having a net worth of 3X the purchase price?

Thank you, 407PAS. My strategy would be to make an appointment, have my architect measure the place, assess the condition of the apartment and then wait until Thursday to determine if this auction was a success - or not. It's more interesting to me to swoop in with an all cash offer when the auction failed ... There is of course the lingering issue of this coop board requiring 3x net worth.

coop boards can require whatever they want. if they say up front that they require 3x purchase price, they require 3x purchase price. you don't have to think it's reasonable but you would be ill-advised to try to buy the place if you didn't meet the stated requirements.

without any interior pictures there's no way of assessing the condition, which is obviously a big question. if it's in decent shape, needing say 100-200 to bring it up to snuff, i don't think 2 mil would be out of the realm of possibility. if it needs more than that, forget it.

Hi Baron. The board is pretty firm. I am glad someone does recognize the value of this deal! In terms of square footage, I challenge you to find a single listing that is precise. Let me know if you would like to make an appointment. I am hoping Thursday's auction will be a success!

I'm not talking about precise square footage--no one here is. But the floorplan YOU posted is about 400-600 square feet short. It's your floor plan! Don't blame us for looking at it.

Rach,
Is this a gut reno?
When was the last time this property was updated(pipes and wires)?
What kind of gut reno policy does this coop have?
Why are you not showing up pics?
Good luck with you auction idea.

we have no pics. it needs face lift. great bones though and the need for renovations is reflected in the price. co-op obviously has rules about reno but very reasonable.

Rachel, I appreciate your invitation to make an appointment but if this coop board is firm on the 3x net worth issue there is no point in pursuing this further. Best of luck with the auction.

I would suggest that the board change their policy with regards to the net worth issue so that the net worth amount is based on some sliding scale that is tied to a person's credit rating. That way, if someone manages to save enough money to buy an apartment like this with an all cash offer and they have impeccable credit, they get rewarded for their good behavior. Just a thought.

I started the post about this apt. Very nice floor plan, nice building, but no way 2200 ft. I could afford it, pay for the renov, and could slip by the 3x requirements if need be. But who are they kidding about the size? Very insulting, and now the seller looks like a shill in the NYT with the size lie.

sick and tired of this...

how can it be OK to blatantly lie about sq ft. maybe 1,600. which is 28% less than advertised. if this doesn't matter, why mention it? agent rachel....your comeback is "this is a really big place." shame on you and your fellow cheats.

Rachel, the floor plan measurements come to 1353 sq/ft. Can you tell us how you get to 2200? This isn't art--it is math. Why all this controversy. Just tell use how you get 2200.

Hi Kyle. I have not measured the space. Just seeing it, I would say its over 2000 sf. The 2200 sf figure was provided to me.

hey...while you're at it...tell us about the drop dead central park views. and, the tasteful renovations. why is it ok to lie about this? how can you say with a straight face that your measurements are based on "its really a big place." sure it is, compared to a 300 sq ft studio in the basement.

what are you going to say when someone comes and looks at it and says "where are the 2200 sq ft?" are you going to smile and say, "make your best offer?"

you make me sick.

I take it you won't be coming to our auction columbia? Btw, I just pulled up a couple 2 beds that are supposedly over 1700 sf and 1800 sf at 15 Central Park West. Why don't you guys get out your calculaters and start emailing these brokers!

http://www.streeteasy.com/nyc/sale/390349-condo-15-central-park-west-lincoln-square-new-york

http://www.streeteasy.com/nyc/sale/370414-condo-15-central-park-west-lincoln-square-new-york

AR: in your posts on this thread, you have used the word "we" 5 times. There is an implication associated with describing the apt as "we". Now BHS has had the listing for 4 months now in a failed attempt at selling it. How come through this entire time period "we" never bothered to measure it, and "we" never bothered to take pictures of it. What I'm smelling ain't potpourri !

That's why you can't state square footage. By postwar new construction measurement standards - 115CPW would be close to 2200 sqft. I like the idea of stating the number of rooms & the interior dimensions unless we can agree on how to measure.

ok...the american way...blame someone else..."it was provided to me." how about you spend about 2 minutes looking at the floor plan and answer kyle's question.

and then mine---why is it ok to so blatantly lie.?

so your point is everyone is lying so why shouldn't I? why don't you run for congress?

The answer to all our prayers costs $8.96.

http://www.homedepot.com/webapp/wcs/stores/servlet/ProductDisplay?storeId=10051&langId=-1&catalogId=10053&productId=100022765

The value of honesty should not be underestimated. One of my friends who has been in my apartment saw my listing and commented that my apartment felt bigger than the number I quoted. I told him that I used the number from the coop offering plan. I am tempted to publish his quote in my ad as a counterattack to all of this square footage exaggeration that is going on in all these listings.

In the absence of official documentation, spend an hour measuring the silly place. Is it not worth a little bit of time and effort to avoid all this bad feeling?

CC - not my point. It's just that standards vary so much (or people lie in varying degrees), it is hard to come out with square footage numbers. Put it this way, there has never been a single apt listed with any kind of accurate square footage numbers in the entire time I've looked at NYC apts. You have to know the building, where the numbers are coming from.

Patient, I use the word we because apartment is the listing of Wendy Maitland who is a top broker in Manhattan. I work with her on some of her listings and have recently become involved in this one. This is technically her listing so appropriate to say we. She doesn't have more pics because it is an estate sale and needs renovations so why show photos? Everyone is welcome to make an appointment to see.

Rachel: Why show photos? Because they would be informative.

kylewest: 1353 seems extreme. To me, the footprint looks like two rectangles. The larger one is about 1200 sq.ft. and the smaller one is about 500. There's no way to get to 2200, but I don't see 1353 either, unless you're adding up the various rooms.

here's my point.

lets stop lying

period

no more lying.

it doesn't work

it pissses people

new name for agent rachel is agent liar.

ok, columbia, I'm a liar. You know you are being absurd. 2200 is the # listed in the NY Times article as well as what has been provided to us. But, hey I must have made it up out of thin air! Not sure how they measure in Columbia County but i'll bet your place isn't the exact square footage that the county clerk has on record.

wait--did you really just claim that your number is accurate because it is the number listed in the times article? are you now claiming that they didn't get the square footage number from you? this is just absurd.

the simplest and easiest thing to do is to just not list square footage. it's also the smart thing to do. this is probably a very nice apartment that needs a lot of work. put up some pictures, take down the fake square footage, market it as what it actually is, and you will have a much better shot.

try again liar.

in the real world, people measure outisde dimensions and tell each other the truth.

they don't cite stupid articles in stupid papers.

have you ever seen a tape measure?

do you know how to multiply?

not real tough, liar.

Honestly, I have noticed many apts that have come on the market in the last month and have very close f2 numbers. With less than 10% variance. On the other hand....

AR your apt is nasty f2 inflation..actual 1700..listed 2200= -500../1700= thats 29% inflation

your first 15 CPW example is a bout 1550 listed 1745= -195../1550= 12.5% inflation
AR: you are correct, they are wrong. But not once did they come on SE and say hey..
"This is a SICK deal. REALLY!" and
"guys, its 2200 sf! this is a very fancy co-op."

hey...what about the new york times?

and...what about the other agent?

it isn't agent liar's fault!

Actually, I was NOT the one who gave the info to the Times Happyrenter. The decision to NOT post photos is also NOT mine. NOT trying to dodge responsibility. Point of this thread was simply to let you guys know about the auction. Seems there isn't any interest from you guys in seeing. Someone will understand the value of this deal.

make sure to change your name to agent liar. aka agent not my fault. good luck finding a patsy.

Rachel: Please, for the love of God, read this: http://unscrewedcomic.com/threadindex/?p=52

Whoever buys this apt WILL NEED the 6x net worth especially because of the amount of renovation that will be needed to be done to this "2200" 2/2 apt (made especially evident due to brokers' reluctance to post photos)... LOL

not to worry...agent liar will take care of everything.

You guys are cracking me up. That rule of holes piece is priceless. A simple, 'yeah, we made a mistake" would have ended all this yelling.

I remember running out to look at an apartment, a place that I thought would be THE ONE. The listing had good pictures, except there was no picture of the kitchen. Well, the kitchen was something straight out of the 1930s or 1940s, just unbelievably bad and no way to redeem it. The place did not have a full size stove and there was no place for one. The whole thing was a disaster.

Maybe we should all bid this place with our eyes closed, thinking it is the 2200 square foot apartment of our dreams in the Majestic.

seems that columbia is my old foe 10022 who is a LUNATIC. anyhow, I have nothing more to add. check the comps if you have any doubts. everyone and their contractor can make an appointment.

AgentRachel,
Out of bounds, Ad Hominem attack.

http://philosophy.lander.edu/logic/person.html

I think ColumbiaCounty was just looking for a little bit of the truth, something that is hard to find in a real estate ad.

agent liar---not sure who 10022 is but not me for sure. no more lies to add? check the comps? what comps? the liar comps? get real. back to my original question:

why is it ok to make up the numbers? how does this serve anyone? 2200 sq ft is a measurement not an idea.

anyone who believes in truth is a lunatic?

what does that make you?

answer: a liar.

I multiplied the room dimensions supplied. It came to 1353 sq/ft. I said before I did not include little corridors and closets. But they can't add up to another 800 sq/ft.

RACHEL THIS IS WHY PEOPLE FEEL BROKER'S ARE DISHONEST. IT ISN'T HARD: say it was an estimate provided by the estate that does indeed seem like it may be somewhat larger; but the place is indeed spacious and gracious and would be worth the reno costs. Why can't you just say that instead of trying to justify the clearly incorrect number? Again, this is pretty simple math. There cannot be two points of view. You are doing yourself no favors in your posts. I'm wincing and embarrassed for you. This is a pretty savvy group. Why on earth would you maintain your figure is even nearly correct? And if you rep the apt or are associated with whoever is repping the place, then it is YOUR number. You have to own it or distance yourself from it to maintain credibility. You are doing neither and the damage you are doing is not serving anyone--including your client's--interest.

kyle,
I will speak to the team and see where they came up with this number. I am not at liberty to offer a number other than what I have been given. thank you for your feedback.

kyle has given you outstanding advice yet you cannot seem to help yourself...you are not at liberty? as in give me liberty or give me?

long live agent liar

Don't you guys get it. If Agent Rachel says anything less than the party line she will be putting her slice of the commission in peril. She will not say it is wrong. So stop asking for that.

Why she continues to actively defend a ridiculous situation rather than just remaining silent is beyond me. I agree with the other posters that doing so (defending the number) reduces whatever credibility she has. That is her career decision. So be it.

This is classic...I love it.
And I have to raise my hand for a second: AR, what makes this a sick deal? If you don't even know the sqr footage, how can you say, "this is a sick deal"?
Based on made up numbers? If anything good comes from this recession/depression, it will be brokers learning a bit of honesty and not wasting buyers/renters time.
And of course some brokers falling to the wayside, so letting the good/honest ones rise.

My personal favorite: "If I had that kind of money I would buy it. Seriously!" Hahahah...this is my new strategy for landing clients in my biz...hilarious.

Good luck with the auction AR...cause there is no way in hell that apt goes for $2MM

Agent Rachel: I do apologize to what happened to you last night. I suggest you read The Art of War by Sun Tzu. In particular chapters 7 and 10.

Sun Tzu... now THERE was a guy who knew when to put down the shovel.

MMmmmmmmmm... Agentrachel keeps flagging my posts... so I'll lay off any mention of self pleasuring devices :)

I believe one of the tenants of Sun Tzu was verify, verify, verify your enemy (on its claims for disarmaments etc..). The funny thing is aren't brokers supposed to represent both buyers and sellers? What service is provided when a square footage claim isn't even doubled checked?

BTW agentrachel, I asked you how your income level was going... did you make more in Feb 09' vs. Jan 09' or Feb 08? Inquiring minds want to know... and if the deal is "SOOOOOOooooooooo GOOOOOOOOOOOOOOOODDDDDDDD" why an auction? Smells of desperation...... yeh, I know it's still the time to buy... but you never too econ 101 and don't understand why everything is falling down around you.... poop soul... should've been a doctor....

"agent liar---not sure who 10022 is but not me for sure. no more lies to add? check the comps? what comps? the liar comps? get real. back to my original question:"

Looks like agentrachel has been caught in more lies... and is going insane once again.

Sorry, Rachel, lie all you want, I'm not columbiacounty.

There are just a lot of folks who think you are an idiot.

what a beating she takes! Too funny.
And she totally thinks she's a victim here.
AR, you opened yourself up with that stupid first post...think before you type.

NYC10022: For what it's worth, Rachel IS listed on the BHS website. Not sure how long that has been the case. I think her boss came over from the competition fairly recently.

it really is a shame because there are certainly broker postings on these boards that make a lot of sense. i'd like to think of myself as a person who doesn't wish ill for anyone but what kind of person lies for a living? and the further shame is that they sucker a lot of people with their nonsense. guess you've got to laugh; she was right in the first place "a sick deal," i.e. a deal to make us all sick.

She's a dirty broker, like the rest of them.
I've met a couple good ones, who were honest. But the rest take you to apartments they've never even seen, claim it's "sick" without knowing what to base it on, and then try to pressure you to make a deal quick.
Luckily this depression/recession will weed out most of them (or are they like cockroaches!?)

Well ... maybe we are assuming too much. Is the person posting here REALLY Rachel Glazer of BHS? Or is this poster somebody PRETENDING TO BE HER? Needless to add, if I were somebody on the BHS team trying to sell this apt, I would be more than p*ss*d off!

Baron: good point, but if it is the real Rachel, she needs to correct the grammmaar "in" in her bio on the BHS websire, I hate this lack of care.

Right on, patient09. There is NEVER an excuse for faulty grammar. It's SLOPPY. And SLOP is what PIGS eat.

The most offensive part of this entire thread is the use of the word "sick". It honestly makes me shudder (and that takes a lot).

uwsmom you sound like a fun gal. Let's have a drink sometime ...

seriously..."sick" in all bold as a descriptor of a real estate deal makes me feel a little icky. I don't want to spend $2MM+ on anything "sick".

AR: Reading this thread has been like watching a train wreck in slow motion. W81 is right - we must all tattoo the Rule of Holes on our foreheads.

The sad thing for you is that you don't have the shield of anonymity to protect you when you broadcast something stupid (or dishonest) on the internet - if I say something idiotic I'm just Bender1961 and if you run into me on the street or at a dinner party you won't know any better. But we have your shadiness (I won't call you a liar - but you must concede that misstating the sq footage by 30% and then trying to defend it is a tad shady) - anyway, we have your behavior associated with you real name.

I think at this point you need to be thinking about your professional reputation (if RE biz is your long term career goal)

just my $0.02

wait a minute---a tad shady? do you think the sq ft are even close? or do you think it doesn't matter? come on...she's a liar or an idiot. i guess i would rather be a ?

WOW. I just joined this site and have started reading your threads. Why does everyone hate this agent. I'm trying to figure out exactly what she did that was terrible. Can someone enlighten me?

you can love someone but hate their behavior...important distinction

lol...i can't even type that with a straight face.....

uws8883 - welcome!

This apartment is disgusting. The elevator opens into a dark, dirty hallway. The apartment itself needs a gut reno totally!!! There is nothing redeeming about it. The long dimension of the apartment looks into a brick wall. The living room has a small window over 72nd street. The dining room has one small window that brings a tad of light. It will require major, major work, that is, if you can stand going up an elevator into a dark dirty, dreary hallway. By the way, no way is it 2200 square feet! My guess is that it is about 1400 square feet. Awful! Just awful!!! Anyone else see it? I would like their point of view as well.

This apartment is disgusting. The elevator opens into a dark, dirty hallway. The apartment itself needs a gut reno totally!!! There is nothing redeeming about it. The long dimension of the apartment looks into a brick wall. The living room has a small window over 72nd street. The dining room has one small window that brings a tad of light. It will require major, major work, that is, if you can stand going up an elevator into a dark dirty, dreary hallway. By the way, no way is it 2200 square feet! My guess is that it is about 1400 square feet. Awful! Just awful!!! Anyone else see it? I would like their point of view as well.

but...it's a sick deal...no kidding...

mobdent: So I guess you are joining patient09, west81 and upperwestrenter that there is no way this auction is a success. Still taking the under on 2mm. Then again, maybe Wendy and Rachel know it's a scam, but, they could drum up 25 new leads by using this tactic, maybe the jokes on us after all!

lead for what? as in "hey, realize this place looks and is garbage, but i've got some other places that are a sick deal!"

So really guys, have you met this lady? Why is everyone tearing her a new one? This sounds like a good location. Why would she lie about the square footage? I live right near that building and it has a good reputation.

A year ago, i would agree with you p09...but not now. Now the joke is on the wendy's and rachel's of the nyc RE scene. I say it goes for $1.MM, maybe...if they are willing to go that low.
Ridiculous...at least AR has learned to stop posting!

1. no --- and sure don't want to
2. she's a liar
3. because she's a liar--that's what they do
4. take a look for yourself and decide if the sq footage is even close

wait a second...UWS8883, have you read the posts? looked at the floor plan? She's lying because she doesn't know any better.
Come on...are you an undercover broker? are you her disguised?
she's a dirty broker who lies, and then claims ignorance.
she's a moron

It doesn't look 2200 square feet but I have seen about 100 floorplans and not one has ever added up. I can't understand how they ever calculate square footage.

It doesn't seem she was trying to intentionally deceive everyone. I feel like I am missing something, no? I'm not a broker but my brother's wife it. I hope they don't treat her this way. Can someone seriously tell me what is going on here? Are brokers not supposed to post?

but...according to agent liar it's huge...it's enormous....easily 2,200 sq ft. maybe more.

What other business can you be so wrong and still expect to get paid? Investing banking perhaps! heh
Wise up, it's not so much that she deceived to start, she doesn't care, and then instead of saying "my bad" she says, "no no, its 2200, and HUGE"
that's stupid and I don't suffer fools

Wendy, is that you?

you caught me, and all of you are being so mean to Rachel! She is a wonderful little broker who tries her very best...so what if she can't add numbers up...so what if percentages and division scare her. She is a great negotiator! 30% everyone!
And I'm a power broker...

Wendy and the rest of them can suck it

I used a broker to buy my last place and she was an enormous help. I did not pay her though. In truth, I was a bit taken aback by what was said here. We don't even know this woman. Not used to this name calling amongst adults. It's odd, no? Anyhow, I am looking on the UWS. Perhaps I'll see this and report back to you all.