Urbandigs "great deals"

listing? You know I had to stop this type of content. Although I started to put a disclaimer that I would never show any of the apts I listed in that section towards the end, I got the warnings from REBNY that its advertising another brokers exclusive. Which I cant argue, yet I wasn't purposely doing it to get clients, just doing it for content. The agents loved the exposure and thanked me for plugging the listing, but had to stop.

http://www.streeteasy.com/nyc/building/51-st-mark-new_york

pwned

This apartment does not look like the 825 sq ft. they're claiming. And the entrance is in the bedroom. Its not worth even the reduced price.

And its underground. Totally agree with you qqq, and zizizi. I can't imagine paying even $450. In fact, zizizi, if it was offered, would you really pay $450?

I would say it's 500 square feet on a good day. It looks like a hodgepodge. I wouldn't pay $300k for it.

It looks like a rat's nest. Even if mkt value were worth $300, I wouldn't pay it - not worth it to me.

no, it's a "great deal"

you're right buster...looks like a rat hole.....

$685k, 20% down %3,374.13 @6.25% 30 years. Add maintenance, it's cheaper to rent a nice one-bedroom in 21 Chelsea - there's one for rent for $3,100 - so you won't lose your money. Plus they don't even tell you the maintenance. Looks like the prefect place to contract tuberculosis.

Stevejx, are you the rental agent at 21 Chelsea?

No. Just making comparisons. That place is a dive. You could get a real luxury 1-br at the Westminster for $4295.

I'm just pro-rental for the time being, but if somebody shows me a place that's super-nice and cheap, then I'll pounce on it and buy it. I'm eager for the market to come to a sensible price point, to make my investment.

dmag2020 - isn't it funny - I bring up one real property that's for sale, suggest that I'd pay as much as the current owners did several years ago and just over half of what they wanted to get for it, and the responses are "it's a rat hole/dive/whatever"

Now, I haven't been to the place and I can't tell you what it's like, but I can tell you that another apartment of about the same size and location is being rented one building away as a short term/vacation rental for $190/night or so - over $40k/year in income if they manage to keep it full just over 200 days.

I'll show you a real property every couple of days and we'll see what the responses are like. They're sure different from the insane hype by that spunky "C and MER forever" guy.

Sold for $655k

19% worth of price cuts. More importantly, under $800 psf. I definitely didn't see anything anywhere near that in 2007....

> dmag2020 - isn't it funny - I bring up one real property that's for sale, suggest that I'd pay as
> much as the current owners did several years ago and just over half of what they wanted to get for
> it, and the responses are "it's a rat hole/dive/whatever"

Of course, everything is an "exception". But when you get the a point where everyting is an exception, you know the market is screwed. Its like the claims that there will be no crash. Then its NYC. Then its "prime" NYC. Then its Manhattan, then prime manhattan, then certain neighborhoods, then certain blocks, then its 2 apartments on one block show the market is fine...

zizi= very small potato

houser, was this your rathole? did you have to move out to Bushwick?