building at 225 Central Park West

Just did some quick research. It's just north of the Beresford, is apparently considered a choice building as well, quiet area near subway stop. When a co-op board requires a large down payment, it means that they are more strict & also makes it harder to sell which depresses the price.

Thanks for the info!

Be careful! It is very difficult to sell as well as to get through the board. Obnoxious real estate agents trying to push this usually for months.

Finanicial situation in the building is extremely difficult. It is on CPW but that is all about it. Handy people and super are difficult to deal with.

A choice building on CPW with studios for under 300k. How is this possible?

hi - just noticed a couple of interesting newish listings here - any new thoughts about the building or the pricing of 301 and or 601? is west81 out there?! thanks...

Spiderman27: Sorry I didn't see the call-out sooner. I haven't visited those two Sotheby's listings, so any opinion I would express on them is mostly hot air.

As a general observation, I find the Alden tricky to price because it's so chopped up. Also, there are cosmetic upgrades in progress that might (repeat, MIGHT) nudge the building into a price category more reflective of its incredible location. The biggest red flag for me would be the all-time high for the address: around $4.25MM. Granted, that was 2005; it was also a much higher floor. In this market, I don't see anyone jumping it by a million dollars.

Although 301 appears to be nicely renovated, the view from the third floor isn't that great: mostly trees, rocks and the #10 bus. At least 601 clears the trees, but it doesn't appear to be in particularly good condition. The maintenance on both is pretty high.

In short, if we had that kind of money, the Alden wouldn't even be on my list. We never will, so it's academic. Hope this helps a bit.

Thanks west81.
We agree about the maintenance and havemnt yet seen either so we dont have a great sense of how bad the view from 3 is. We would rather be in the 4+/- range and are looking for 2500-3000+/- sf within 2 +/-avenues of central park ideally in the 70s or 80s. We live in part of a townhouse now and would consider either more space in a townhouse, prewar apartment building, new apartment buildings- good bones in need of renovation or already done. It has been pretty frustrating - we have seens lots more choice in tribeca and soho but want to stay near central park! The Harrison was very disappointing in terms of sf cost and i dont love the idea of being across from the funeral parlor, linden78 was perhaps slightly nicer but is mostly sold, a bit small for us at 2300 sf and on top of broadway with those lot line windows and the harson house units on the market are actually quite nice but are an absurd price outside of our range - especially considering being on top of sleepy's/down from grays papaya and otb on 72nd street. luckily we are not in a giant hurry, but we are starting to feel that we really dont have a lot of good options in our neighborhood!

West81st- How much should the premium be on a full park view? I see 2 similar listings--a a 1300 sq. ft 2-bedroom at 225 CPW now priced at 1,850m and the same sized 2 bedroom at 230 CPW just listed at 2,395m--How do you think the buildings compare as well?

dmf13: It's hard to generalize. I'm more familiar with the difference along Riverside, where I'd say the premium runs in the 50% range on high floors. YMMV - there's a pretty wide deviation from the mean, and minor details of the view can make a big difference.

All else being equal, I'd take the Bolivar over the Alden. To me, 225 has the feel of a faded hotel. The refurbishment will help, but it's still a building with hundreds of relatively small units.

BTW, I don't see those two apartments are real comps, despite the similarity of square footage and location. The one at 230 CPW is a trophy 1BR, and it looks pretty spectacular. The one at 225 would probably work better for a family with one or two kids.

Thanks--what does YMMV stand for?

Your mileage may vary

Another language! I'm still working on Spanish - which I prefer!!

Spiderman27: Coming back to your specs, most of the interesting apartments I have seen in your price range are (from your point of view) on the wrong side of Amsterdam. The closest fit within two blocks of Central Park would be this one:
http://www.streeteasy.com/nyc/sale/228289-coop-161-west-86th-street-upper-west-side-manhattan
I wrote it up here last month:
http://www.streeteasy.com/nyc/talk/discussion/3576-open-house-report-5408
They're having another open house Sunday at noon. It needs a lot of work, but I loved the space and there's probably room for negotiation.

One last thought, Spiderman27: Go see those apartments in the Alden. If you like one, offer your price: $4MM, $3.75MM, $4.25MM, whatever. Based on the building's price history and the current state of the market, it's not an insulting bid level for those properties. If the owners want to hold out for $5MM, that's their business. Maybe they'll get it. I only think they won't because no one ever has.

dmf13: I visited the unit at 230 CPW today. The park views are amazing, and the big windows take full advantage. As a bonus, the back bedroom has a clear view to the west: you can actually see the Hudson.

The shortcomings are on the inside. I don't think the interior square footage is much over 1050, the kitchen is tiny and outdated, and there's nowhere to eat. It's a great apartment for ordering in and enjoying the view.

West81st; Thanks, I was going to go in, but too hot from the 'burbs. What's your guesstimate on the selling price? BTW, Did you go to the other open house in the building? (3 bd, 4.5m)

No clue about the price on 16D. My focus is family apartments; that unit is more of a trophy pied-a-terre or an empty-nester. I'll say this, though: if there's such a thing as a $2000-per-square-foot view, that's probably it: a panoramic vista of Central Park, from end to end and side to side, with skyline accents in the background.

This really is a beautiful city.

I didn't make it 5C - didn't even realize there was an open house there today.

I live in the building and can't say anything bad about the building that I can't be said about similar white glove CPW buildings. The staff is very friendly and down to earth. Yes it has rules; but welcome to the neighborhood. As for the price; I compared other CPW buildings (I wanted the view and the proximity to the park) and I felt this building was under priced. The board has brought the building up a notch with apartment combinations, a roof garden and hallway renovations. I don't think the value is reflected in these improvements and the building is under priced. At least that was my opinion at the time; so check out other buildings in the area and make a decision for yourself.

Hi! I have noticed that all of these postings are rather old. Does anyone have anything current to say about this building. I love the location.