Open House Today 1:30-4:00pm - High Floor Corner 1 Bedroom - 407 Park Avenue South #18B

sold?
anyone know?

Please let this thread RIP.

It'll probably RIP--until a sale pops up on ACRIS.

30yrs: the fridge in question is a Liebherr 30" freezer-on-the-bottom model. It's actually quite nice, very 'green' and energy efficient, and a great alternative to the subzero--it is also about $1500 less. I don't think it warrants a premium in a sales price (which is what all the hoopla and debate was about here), but it adds a nice built in look to a kitchen.

gosh darn the maintenance is high... but don't forget the a lot of it is tax deductible!

The link for the listing is not working. Hmmmmmm???

bueller, bueller, anyone?, bueller.

whatever happened to this?

LOL this guy! I actually went to his open house, and was the only person who showed up all day long. He's so unrealistic in his asking price ... half a million bucks for a cookie-cutter junior one-bedroom with no washer-dryer, 8' ceilings and high maintenance. It's not 2007 anymore.

"cookie-cutter"

But freshly-baked, right?

all it would have taken is some freshly baked cookies and that apartment would have moved months ago!

I see that someone paid 490 for a 725sf apt with 1700 monthly charges (YIKES). As I recall that was about the asking price of this guy for his apartment which was smaller (I think). Anyway....I can't see why anyone would pay this given the monthly charges. Rent - monthly = <1000$ = dumb investment of 490,000$.

pas407.................rip

I find this the funniest thread ever. I live in LA, but someone linked this thread from an article MONTHS ago, and I booked marked it because the seller is such a douche.

Anyway, the guy just next door to him (18c) sold for 328k.
http://www.zillow.com/homedetails/407-Park-Ave-S-APT-18C-New-York-NY-10016/72517327_zpid/

I find this the funniest thread ever. I live in LA, but someone linked this thread from an article MONTHS ago, and I booked marked it because the seller is such a douche.

Anyway, the guy just next door to him (18c) sold for 328k.
http://www.zillow.com/homedetails/407-Park-Ave-S-APT-18C-New-York-NY-10016/72517327_zpid/

I'm sure the B line is much larger, though, right? ;)

and of course the b-line likely doesn't have a super-fabulous fridge, like this one does.

god bless this thread!

Yes, the B-line is much larger. It's a one-bedroom, while the C-line is a studio.

So, whats a good comp price for this place now?

Looks like 5B just sold for $370,000!

http://streeteasy.com/nyc/sale/416765-coop-407-park-avenue-south-kips-bay-new-york

Hey Larry.. We told you so!

God I love this thread.

There is a deep empty pit in my life that I have tried to fill with addictions to food, drugs and sex but nothing could quell the feeling of constantly falling off a cliff until this thread came back to life 2 days ago. Thank you.

Sure, easy for you to say. You're not the one trapped in perpetuity, saying he had the pricing right and gushing about the refrigerator. Last time I told anybody the shit they wanted to hear.

The last 1br rental there was for $2475 in Sept. Current after-tax rent/buy neutral price = $335,000!

...well, it was a nice fridge...those Liebherr's rock...dual compressors..."green"...better service records than subzeros...

sorry. what were we talking about?

"There is a deep empty pit in my life that I have tried to fill with addictions to food, drugs and sex but nothing could quell the feeling of constantly falling off a cliff until this thread came back to life 2 days ago."

Wow, I didn't know Tenafly was that bad. Maybe you should move back to NYC? Anyway, you'll love Tenafly in the summer when the skunks come out. And when you inevitably get skunked, don't waste your time with the tomato juice... it does not work.

i think the skunks like alpine. especially PT Cruisers in alpine. but they'll settle for soccer mom mini-vans as well.

and sniper is renting, so he can move whenever he damned well pleases, without worrying about selling an albatross. or the upkeep on a home he no longer wants.

i haven't been on here in so long that i was tempted to start a thread asking if Alpine was still a douche.
i decided against it but...the universe decided to give me my answer anyway!!!!!!!

ACRIS says this sold for $432,500 in September.

Ta-da! But not filed until a few weeks ago. He started at $489K, so ending up at $432K isn't too bad. Taking ten months to unload the place is another story....

Started at $539,000

From the first page...

>> kprivatlaw - 407: Take $435000 if offered. Get out the trap- forget the cheese.

>> 407PAS - There is nothing at $435k with my features so your advice is most unwelcome.

$539K?!?!? Not only long but painful, then. I remember the refrigerator like yesterday but missed that first 50K of chops.

just out of curiosity...any comps sold in this bldg recently? at $432K did he make out like a bandit at this point?

A broker sold a lower floor direct comp for 6.9% more in 2010, as if to prove brokers earn their 6% commission. But to be fair, the market was probably a little stronger in 2010 than 2009. The owner of this place likely would have benefited from professional sales representation, but he did okay on his own for a difficult period.

If all you can get is 2800 per month for rent than this may not be such a good investment. If I paid 500,000 cash for this apt I'm are looking at a 2.7% rate of return under best circumstances.

thanks for the response PMG.

Like stumbling on an old episode of Falcon's Crest. Hated this thread, but I loved it, too.

kylewest, stop trying to control midtowner virgin east's opinion of Falcon Crest

@HB: that may be the first time you made me actually laugh.

>@HB: that may be the first time you made me actually laugh.

Understandable. Normally I deal with rather sad, pathetic topics like the issues facing columbiacounty and his disasterous life.

I can't believe I am foolish enough to comment on this thread but possibly it is because I have just wasted the last 2 hours of my life reading it. And also because all of us do things that are not necessarily logical - such as buy real estate.

But here are my observations:

- this guy was pilloried for 8 pages for being off his rocker on his asking price(s). Most of the comments were claiming he should take something in the $300s and be thankful. Some were even in the $200Ks. The quote of the person who suggested he take $435K if offered was about the only person suggesting that he would get $400Ks and does not much what I read on the thread which is a lot of know-it-alls who said he was delusional if he thought he was going to get anything above $400K.
- Yet he actually got $432K without a broker so when you add a broker's 6%, a broker would have had to obtain a price of $457K. Which no one on this threat - PAS aside - would have ever thought possible.

So here is my conclusion:
- Neither PAS nor the naysayers were right. But PAS was A LOT closer to the ultimate to the ultimate price that everyone else (kprivatlaw) aside.
- So many know-it-alls confidently predicting they "knew" where real estate would be and what PAS' actual price would be. Almost all of them totally too low.
- If I was PAS, I would be back on this thread and pointing out how well I had done, how all the naysayers with their $300Ks price estimates were completely way off base and that I (as PAS) was right and they were wrong. If I were him, I would point out the huge return I had made on my original $235K investment when people said a 100% return was impossible. Well he came a lot closer than any of the naysayers thought.
- PAS won! The naysayers lost. Real estate is not about economics.

(And no, I am not PAS. But to go with the Falcom Crest theme, I might be his long lost twin from a dream sequence who did not actually die in the firey train wreck that is this thread....)

>- If I was PAS, I would be back on this thread and pointing out how well I had done

You are an idiot. If PAS won, which means that he won, which means that he won, which means he put the money in the bank, why does he need to come on to streeteasy to prove to people who "lost" ... that he "won"?
He's got the money. He has what he wanted. Who gives a shit about coming back on to a streeteasy thread? He's moving on. With his life. His real life.

By the way, spqsydney / midtownereast ... oh snap?

I disagree that PAS did well. He made money from the time he spent marketing his apt. He also spent a good amount of time and money renovating the apt. If you value your own time less than money, then PAS did well. Six months or more of people coming into your home, putting your own weekends on hold when you could be enjoying them doing something else, all the hours shopping for materials for renovations, etc. In the end, he got the money, but it wasn't exactly an zero cost. If PAS actually spend the same amount of time doing something else, he may have profited more. Some people find this type of "profit" satisfying.

PAS would never come back to this thread.
Why?
He came into this game for the action, the excitement. Go anywhere, travel light, get in, get out, wherever there's trouble, a man alone. Now they got the whole country sectioned off, you can't make a move without a form.
I for one, miss him.
His good friends called him Harry.

------- My argument is against the cost of the brokers. They cost too much and do too little. I have explained this countless times on this board.

I guess this is why this thread got so heated. Sounds like he was right. A lot of brokers on this site that do too little and expect to get paid too much.

Most sellers/buyers can do it themselves these days.

Its not that PAS necessarily did well - but he definitely didn't do as badly as other people were claiming. When you actually read the thread, you have a whole lot of people who posted incessantly who acted as if they had some crystal ball with the "truth" and everyone else, especially the owner was a mad, overposting, delusional idiot who should just accept that he would get $350K for his pad and move on.
Of course, those people might have been right. But they weren't. They almost all called the marked price way too low (and of course, PAS called it too high). But he was closer to the mark that they were.
I guess it is no surprise that none of them are posting - because who wants to stand up and say that they are wrong. But they WERE wrong: yes the market went down, yes PAS had to take a discount. But nothing like what a whole lot of supposed know-it-alls were predicting.

Guys it's not all lost - if you want to sell by owner just use a fsbo platform. For example www.hauseit.com will list you on OLR, the Manhattan MLS and all major real estate websites including StreetEasy, Realtor.com, Trulia, Zillow etc for 3 months for only $399. They also do managed open houses for free and have the best customer service I've experienced. Least I could do considering those guys saved me a TON of money and time.

RiddhiBman, what neighborhood was your listing in? How much did it sell for?

RiddhiBman, don't answer the troll.

NWT - As usual, outstanding. Thank you, and on that note, I am hereby reverting back to MCR because I have now come full circle.

This was a good thread. It started about halfway down the previous slide and ended at the bottom, when 18B sold for $432,000 in September 2009. A year ago 22B went for $630,000.

Oh hey, multicityresident, you haven't been around in a while. Why don't you fill us in on what you've been up to? How did that rental work out for you?

A few posts up is where I "officially" reverted back to MCR, but on more interesting notes, how awesome is it that 30_years is posting again and that there is a fresh thread about a building on the 400 block of PAS?

PS - I put the discussed fridge in our doll-sized apartment and absolutely love it. Counter depth, narrow, freezer on the bottom, modern, sleek, and, most importantly, it does its job perfectly.

Oh, I see, you used the word "hereby" when you talked about reverting to MCR, so since you used legalese, it can indeed be deemed "official". I assume you filed with the clerk and posted an ad in the Washington Times or the New York Post?