The post-Labor Day viewing season gets into swing tomorrow, and there are so many open houses on the Upper West Side that I'm not sure where to begin. I would welcome requests/suggestions to help me prioritize. below are the six showings that look most interesting to me, in terms of what they might reveal about the state of the micro-market for family apartments between 79th and 96th. (Because of the embedded links, I had to split the list into two posts to evade the Streeteasy spam filter.)

#1
$2,400,000
139 West 82nd Street #6B
Co-op, 3 beds 3 baths
Sun, Sep 07 (11:30 - 1:00)
http://www.streeteasy.com/nyc/sale/345573-coop-139-west-82nd-street-upper-west-side-new-york

#2
$2,195,000
90 Riverside Dr #15FF
Co-op, 3 beds 3 baths
Sun, Sep 07 (11:30 - 1:00)
http://www.streeteasy.com/nyc/sale/346039-coop-90-riverside-dr-upper-west-side-new-york

#3
$3,300,000
255 West 90th Street #5C
Co-op, 4 beds 2 baths
Sun, Sep 07 (11:30 - 1:00)
http://www.streeteasy.com/nyc/sale/346360-coop-255-west-90th-street-upper-west-side-new-york

#4
$1,500,000
645 West End Avenue
Co-op, 2 beds 3 baths
Sun, Sep 07 (12:00 - 2:00)
http://www.streeteasy.com/nyc/sale/345806-coop-645-west-end-avenue-upper-west-side-new-york

#5
↓ $1,295,000
221 West 82nd Street #14C
Co-op, 2 beds 1 baths
Sun, Sep 07 (1:00 - 2:30)
http://www.streeteasy.com/nyc/sale/164090-coop-221-west-82nd-street-upper-west-side-new-york

#6
$2,850,000
250 West 82nd Street #21
Co-op, 4 beds 3 baths
Sun, Sep 07 (3:00 - 5:00)
http://www.streeteasy.com/nyc/sale/345195-coop-250-west-82nd-street-upper-west-side-new-york

By the way, they are sorted chronologically, not by preference or any other meaningful criterion.

It is unclear what you are looking for -- for example, how is number 5 -- a 2br/1 bath a family apartment?

manhattanfox: I included #5 as a follow-up to the thread where we discussed exactly the question you raise: whether that listing is a viable family apartment:
http://www.streeteasy.com/nyc/talk/discussion/4873-nice-drop-

As for what I'm "looking for", there's no simple answer. I try to cover a wide range of properties and prices; the reasons are private.

Regarding 90 Riverside, what do you make of 1) the lack of a bathroom outside a bedroom, and 2) the $335K premium over the late 05/early 06 comp (11F sold for $1.86M - closing in Feb. 06)?

West81st I think you should go to open houses that interest you. BTW I have a friend who lives in a similar line to 221 West 82nd Street #14C, but a couple floors lower. I'm curious as to the eventual sales price b/c my friend asked me what I thought the apartment was worth.

if you have time, would love your report on 771 WEA 7A, 334 W 86th 7A, 490 WEA #3B and 251 W 95th.

Have a fun Sunday......

Curiously: I assume you mean the old ones. Here they are:

490 WEA #3B and 251 W95th #2N:
http://www.streeteasy.com/nyc/talk/discussion/4691-open-house-reports-81708

334 W 86th #7A (added later in the week, about halfway through the thread):
http://www.streeteasy.com/nyc/talk/discussion/4039-open-house-reports-62208

771 WEA #&A:
http://www.streeteasy.com/nyc/talk/discussion/3576-open-house-report-5408

hsw9001: Thanks. There are so many this week that I figured I'd ask for guidance - partly to provide more interesting reading material for the group, but mostly to avoid wasting my time on apartments with serious problems that I hadn't noticed.

JohnDoe: I think the lack of a powder room or hall bath is a serious drawback if you entertain much; and even with two alternative floorplans, Elliman doesn't seem to have found a solution. The maid's bath might be a mitigating factor. As for the price, it's a new listing, so who knows? FWIW, I think there's better value available at $2.2MM.

On your list the one I'd be curious about is 645 West End Avenue. They are marketing it as a classic 6. For 1.5M I'd be awefully curious b/c it sounds too good to be true.

I saw another one in that line at 645 West End about a year ago. The living room, dining room and kitchen face another building which is very close by. Also, if you look at comprable units in that line, you will see that they are all priced low to reflect the lack of view/light and the condition of the apartments.

If it sounds to good to be true...

First three reports follow:

139 West 82nd Street #6B
$2,400,000 mt. $2693
Co-op, 3 beds 3 baths
http://www.streeteasy.com/nyc/sale/345573-coop-139-west-82nd-street-upper-west-side-new-york

This handsomely finished duplex 3BR is actually a combination of three apartments – two on the upper level, one below. The BRs are split two up/one down, and the family room downstairs could accommodate extra guests. As the listing says, the flow is excellent, the entertaining areas are well-apointed, and the family space on the lower level gives the apartment a fairly house-like feel. There are no views to speak of, but some light does elude the neighboring buildings on 83rd.

The building is a rather ordinary mid-block co-op, and the location has some significant red flags. The precinct station down the block ensures safety, but also brings some nighttime noise. The bigger concern lies to the north; the garages and other squat commercial buildings on 83rd Street are likely development targets. So this attractive apartment, which is already somewhat light-challenged, could wind up in deeper shadows that it already is. The view from the larger upstairs bedroom, which barely clears the adjacent commercial building, appears especially vulnerable.

The asking price here is 50% above the previous high for the building. That reflects the unique layout, but it also probably means the price needs to come down.

90 Riverside Dr #15F (aka 15FF)
$2,195,000 mt. $2088
Co-op, 3 beds 3 baths
Traffic: Moderate.
http://www.streeteasy.com/nyc/sale/346039-coop-90-riverside-dr-upper-west-side-new-york

This good-sized classic six sits one floor below the top of an excellent pre-war RSD co-op and needs gut renovation. The living and dining rooms each have open views through a single, north-facing window; otherwise, the apartment is surrounded by walls. Some sun does manage to peek over the adjacent buildings at mid-day.

The kitchen is a total loss, as are the awkwardly positioned side-by-side bathrooms. Elliman provides two alternate floorplans, but neither addresses the lack of a powder room or hallway bath.

90 RSD is a stable, super-prime building with excellent amenities and no small apartments. If somebody wants the address badly enough, the price might fly. Otherwise, this one could drop pretty sharply. Based on condition, prior sales and current competition, I think #15F is priced 15-20% too high. Since the aged owners have already moved out, the price has no real floor under it, so it will be interesting to watch this one.

255 West 90th Street #5C
$3,300,000 mt. $2035
Co-op, 4 beds 2 baths
http://www.streeteasy.com/nyc/sale/346360-coop-255-west-90th-street-upper-west-side-new-york

This classy, Beaux Arts/Victorian 9 in the Cornwall features both the strengths and weaknesses of its type. The three-part entertaining space at the front (Broadway) end of the apartment is truly lovely, though the restoration isn’t quite complete - for example, some window hardware is missing.

The bedrooms, on the other hand, are rather tight and dark, except for the west-facing one at the back of the apartment, which has built-in loftbeds and is therefore currently best-suited for children . One bedroom has a pretty stained-glass interior window facing the foyer. The maid’s room is a mess, with a tub along one wall and the other bath fixtures removed to allow the space to serve as a darkroom. The other two bathrooms are original, and in fair condition. Bathroom access is OK, but there isn't much privacy; the floorplan offers several possible solutions. Also, while there is no true master BR or bath, the two western BRs could be combined into a grand master suite. The loft beds could be relocated or scapped.

The kitchen was sensibly updated 15-20 years ago. The custom cabinets would probably stay, though they would be far more useful if they extended higher. The countertops and appliances would probably go; that work could be postponed.

The asking price on #5C may leave some room for negotiation. #7C sold last year for $3.2MM, and appears to have been in at least comparable condition.

Here's another:

645 West End Avenue #3D
$1,500,000 mt. $1603
Co-op, 2 beds 3 baths
Traffic: Moderate-heavy (mostly neighbors, I think)
http://www.streeteasy.com/nyc/sale/345806-coop-645-west-end-avenue-upper-west-side-new-york

There’s a lot of wood in this classic six. Some is good; some not so good. The whole place is overloaded with built-ins that make the apartment feel smaller than it is, including a huge desk that occupies nearly half of the living room.

The closed-in feeling is exacerbated by views of brick walls from every room except the bedrooms, which face east over West End. Unfortunately, the rooms that need light are dark, and the rooms that need quiet are noisy.

The kitchen needs appliances, counters and a new floor, but the old cabinetry is in good shape and the newer oak cabinets that have been added match the old stuff pretty well. I can’t say the same of the extra woodwork in the living/dining area. For some reason, the doors and transoms between the two spaces are stained cherry, so they clash with the old paneling. Maybe the paneling was painted at the time the new woodwork was added, and the mismatch didn’t become evident until later?

The bathrooms have been restored – not very gracefully, but at least the original fixtures have been preserved, as have the beautiful stained-glass bathroom windows. The interior doors have been refinished nicely. Closet space is a bit tight everywhere except the master bedroom, where floorspace has been sacrificed to create some nice built-in closets.

645 is a pleasant building that doesn’t fetch high prices. (It was interesting to see the head of the co-op board and several other curious/anxious neighbors buzzing around this debut showing.) #12D sold last year for $1.61MM. The high floor makes a big difference here. So, although $1.5MM seems pretty good for a classic six on West End, it probably has room to fall. I don’t know how motivated the seller is. According to the agent, he was a renter who subsequently bought, but I missed his reason for selling. He seems to have moved out already.

West81st, thanks for your comments. How was the traffic?

drg: Overall, more active than the summer, but still relatively quiet. All of the brokers had time to chat. The buyers I spoke to were all in a holding pattern, expecting prices to drop substantially.

Two more to go. Here's one:

221 West 82nd Street #14C
↓ $1,295,000 mt. $2153
Co-op, 2 beds 1 baths
Traffic: light-moderate, and very unenthusiastic
http://www.streeteasy.com/nyc/sale/164090-coop-221-west-82nd-street-upper-west-side-new-york

I included this five-room in the day’s rounds for two reasons: I was curious how feasible it would be to add a second bathroom, and I wanted to know what sort of apartment goes through seven price cuts.

The answer to the first question is “not very”, unless the buyer can live without closets. The answer to the second question is more complex; in this case, there are at least seven factors:
1) The aforementioned bathroom challenge;
2) The general inflexibility of the layout;
3) The poor condition of the entire apartment, especially the kitchen area;
4) High maintenance;
5) Assessments at least though December;
6) An $8600 flip tax that, while modest, really ought to be picked up by the seller;
7) An owner who would apparently rather chase the market downhill, bit by bit, than make a sale.

The only things #14C really has in its favor are a great location and three open exposures. A year ago, those assets might have fetched $1.5MM. Now that buyers are accentuating the negative (and there’s plenty of negative here), the positives don’t seem to be worth $1.3MM.

I got the impression Jim Testa is sick of this apartment. As I was studying the floorplan for possibilities, he eagerly changed the subject to his listing at 299 RSD, which is more flexible and slightly fresher.

Here's the other:

250 West 82nd Street #21
$2,850,000 CC: $1745 (The listing says "common charges", not maintenance; don't know why.
Co-op, 4 beds 3 baths
Traffic: Light-moderate.
http://www.streeteasy.com/nyc/sale/345195-coop-250-west-82nd-street-upper-west-side-new-york

We have discussed the building previously – specifically, apartments 33 and 72 – so I’ll focus on #21 itself. First, let’s cover natural light. There isn’t any, and if that’s important to you, read no further. The three public rooms along the 82nd Street side are shrouded by scaffolding. When it comes down in 2009, those three north-facing second-floor windows still won’t get much light. But that obstructed northward view is positively picturesque compared to the alleys, fire escapes, trashcans and airshaft that comprise the views from the other twelve windows.

That’s the bad news. The good news is that the owners have used some clever tricks to brighten what could be a very gloomy apartment. Although the lavish woodwork is nice old oak, the stain is pale, nearly blond; the recessed lighting, skim-painting, wallpaper and well-matched oak blinds cast a healthy glow in the hall and foyer. Although the eat-in kitchen needs extensive updating, the layout is intelligent, using a pass-through between the cooking and eating areas to lend some feeling of openness to a very confined space. The necessary renovation could open it up a bit more. The bathrooms have been redone, and are in good shape.

Closets are scarce. One symptom: the owners keep their linens in a closet off the parlor, about fifty feet from the nearest bedroom or bath. Only the master bedroom has adequate closet space.

Overall, #21 is a pretty apartment that might work well for a large family that doesn’t mind substituting trompe-l'œil for sunlight. It’s in direct competition with #33, which offers a bit more light but probably needs more work.

West81st, nice recap. Always appreciated although the price points are usually a bit high for me.

You write "The buyers I spoke to were all in a holding pattern, expecting prices to drop substantially." Now I don't disagree, all signs seem to point downward. However, walking around the UWS today with my lovely wife and my strapping infant son, all signs point anywhere but. Empty storefronts are being replaced with a ShakeShack (77th/Columbus) a Fatty Crab (76th-77th/Broadway) etc. Lines were longer than ever outside Isabella's and Good Enough to Eat. The crowds walking down Broadway in the 70's felt like Midtown at 5:20. Fairway is a melee. It feels more crowded than ever with families and yuppies and older gay couples (leaving downtown for the quieter green pastures north?) and delivery guys weaving through it all. Granted it's the weekend after one of the quietest weekends of the year which might affect my impressions. But things on the UWS seem more vibrant than ever. Now perhaps we've reached a tipping point and people have finally said enough is enough regarding property prices but I'm not seeing much evidence of a decline of prosperity on the streets. Which contradicts my objective analysis of the market today. Starting to wonder if macro trends are trumping the economic undertow. Any thoughts?

Oh, and in the spirit of the thread saw 5 riverside 3c. Slow trickle of lookers. Nice windows and view but considering the amount of money (a lot) it would take to do a tasteful update seems (still) ambitiously priced. Hasn't been touched in decades. Cheers.

kgg - I think the lack of crowds last week helped create an optical illusion. I've been on the UWS for the last 8 years (and my parents have lived here for more than 30 years). The crowds this year don't seem particularly bigger than last year (or the year before). The stroller brigades have been patrolling Broadway for a while now (the only real change being the increasing number of double and triple seaters). Fairway on Sunday has always been crazy, and the brunch crowds at Good Enough to Eat, Sarabeths, Popover, were strong even when there there still some bohemians around (remember them?).

I've actually been observing a few more empty storefronts with businesses that can't come up with the increased rent. (And a careful eye will note the increased graffiti - even on the window of the new coming Fatty Crab.) Not that this changes anything - the UWS is still going to be very strong for real estate - people are looking around a lot more and waiting to see how the market shakes out - but the UWS will probably weather any downturn better than most neighborhoods.

Popover?

Once again, thank you West81st. Your reports are better than being there. I really look forward to them!

Popover cafe, 87th and Amsterdam, just north of Barney Greengrass, another crowded Sunday brunch spot. I have to agree with october, I have lived on the UWS for over 20 years, and I dont think its any more crowded than when I moved here in the mid 80's. Also, not sure exactly how one comes up with the notion of "prosperity on the streets" from the overall foot traffic on a gorgeous September day. Brunch places are always crowded, its a cheap luxury.

Definitely no convoy of moving trucks or throngs queuing in soup lines.

kgg - agree with you there! (And you should try the Popover - while an old institution, the Popover still makes one of the best popovers in the City!)

One addendum to the writeup on 250 West 82nd #21: I noticed a fair amount of floor damage, especially in the hallway. Anyone considering this apartment should make a point of looking under the rugs and carpets, and of examining the uneven match between the old floors and some replacement flooring.

I think the demographic at the local brunch places skews a bit younger than the buyer pool for 2-3BR apartments, but I agree that those places continue to thrive. Personally, I'd rather make the scrambled eggs and french toast myself. Queueing up to pay $12.50 for an omelette seems a bit OTT, especially with a line of twenty-somethings giving my kids the evil eye for lingering at a sidewalk table. Anyway, I don't think pancake sales at EJ's are a very accurate RE indicator.

You are right. I should be assessing the crowds at Dovetail and Telepan on Sunday.

By the way West81st, although you've probably mentioned it in the past, are you actively looking to buy?
Or is this Sunday ritual more of a fetish, an urban pedestrians version of the Sunday Drive?

From what I see, what's on the market is generally second rate stuff with still no appreciable drop.
And very few sales are actually going through. Have yet to see a report that screams "Buy this place. It's a steal!"

West 81st - sorry for the brunch digress. What what the foot traffic and general vibe of these open houses? Were brokers being realistic about the market?

kgg: 30% fetish, 70% practical interest. I'd rather not get into the details of the 70%.

With regard to the availability of bargains, I think there are listings that might have looked like bargains last year. In fact, some of them were on the market 6-12 months ago for 20-40% more than they are asking today. If they don't seem like bargains now, maybe that's a sign that the market has moved, or at least that sentiment has changed.

October: Each broker is different. The Elliman guys have their official talking points: "Great time to buy if you qualify for financing, blah, blah, blah..." Once you get past that, they all admit it's a tough time for the agents, because transaction volume is so low. The extent to which they attribute the slowness to transient factors like seasonality and short-term deleveraging varies a lot. I find the candid brokers to be more gloomy, but maybe that's my bearish bias (i.e., maybe the gloomy ones just impress me as more candid).

Foot traffic appeared steady, though not particularly heavy. Lots of tire-kickers. I didn't see anyone huddling with an agent, working through financing calculations in preparation to make a bid.

As nervous as the brokers are, I think neighbors are anxiously watching a lot of these listings too. After years of feeling rich because their apartments seemed to have appreciated so much, it has to be hard to see the trend moving the other way. That vibe was palpable at 645 WEA: too many neighbors hanging around and talking up the building, including the head of the Board.

agree with kgg -- i live on the uws and keep looking -- yes prices are down in some places, but the selection available does not compare with Jun 2007 and it seems that most places available are still well above 2007 asks

Anyone check out 312 west 92nd street? would be interested in West81st's thoughts and/or anyone else in terms of value etc - the 3rd floor unit seems like a big price for thatfar up. what is the specific neighborhood like? schools? are the projects nearby? its a bit above the good shopping and restaurants, no? i think the total price they are asking for all 3 units is close to 10 million - seems like alot, no? if anyone went and can comment on teh quality of the conversion / what the space is actually like please do, thanks!

West81st....as always, thanks for the notes.

Spiderman: I skipped 312 West 92nd because small buildings don't shed much light on the overall market and also because the pricing seemed beyond stupid. The neighborhood is fine. West End and Riverside don't slip above 90th the way Broadway and points east arguably do (and I'm not really so sure about that part until you get to 93rd or 94th). And if there are any projects nearby, it's news to me. The poorest neighbors might be a couple of struggling synagogues.

I don't know as much about PS 84 as 9, 87 or 166. I can only say that I've never heard of anyone going out of their way to get into the catchment for 84. That doesn't mean it doesn't happen.

joedavis: "... it seems that most places available are still well above 2007 asks."

Really? Above 2007 execution prices, maybe. Above 2007 asking prices? I don't think so, except for a few seriously deluded dead-enders.

joedavis - I agree with West81st on this. We started looking summer 2007 (granted we were looking in UES and midtown too, not just UWS). Definitely seeing more options now, and increasing by the day. Admittedly still not seeing what we really like for prices we'd be willing to pay, but it's closer now than it was. Plus, the body language of brokers and sellers, combined with the price drops, seem to suggest the prices we're seeing now are a lot more negotiable than the prices we saw in 2007.

Where does the agent for 90 RSD 15F get off listing the property as a 3-BR? It's a 2-BR + maid's room. Period.

I've been seeing a real increase in this marketing phenomenon of late--clearly realtors/sellers think they'll snag more hits in the RE search engines with this BS but what they fail to consider is that a buyer looking for a 3-BR does NOT want to waste time even considering a property like this.

bramstar if you went to see the apartment they actually had floorplans that showed you how you could convert 15F into a 3 bedroom... I guess because they thought it was a convertable 3 they felt it was alright to market it as a 3 bedroom.

bramstar/EAO: Anne Lenane does this with every convertible listing. In fact, she lists them both ways:

http://www.streeteasy.com/nyc/sale/346039-coop-90-riverside-dr-upper-west-side-new-york
vs.
http://www.streeteasy.com/nyc/sale/346038-coop-90-riverside-dr-upper-west-side-new-york

Same apartment, two listings. It's annoying, but I have to admit it's also smart, given the limitations of certain real estate search engines.

With regard to #15F in particular, the 3BR floorplan looks plausible, assuming the dimensions of the LR and DR are accurate. I got the feeling, looking at the apartment, that those dimensions might be overstated. The living room didn't feel that big to me.

It's a 2 and should be listed as a such.

Bramstar: Take it up with Dorothy Herman. Her agents are far and away the worst offenders.

For what it's worth, I think that Elliman double-listing at 90 RSD will get the harsh market treatment it deserves, because there are two comps in that price range at 110 RSD that are bigger and in much better condition.

thanks w81 - with respect to townhouse units in the area of 312 w 92, what do you think is a more appropriate psf?

West81st--you may be right. I haven't seen the apartment (90 RSD) but from what you've described and from the listing, I think the sellers are in for a rude awakening.

Spiderman: It's really not my market, but here's a reasonable comp. The Central Park block might price out slightly higher than the Riverside block, but 312 looks like a nicer building.

http://www.streeteasy.com/nyc/sale/167733-condo-20-west-90th-street-upper-west-side-new-york

When I saw that one, I told Karen Kelley the price seemed quite high to me, and she said I didn't know what I was talking about. She was basically right: they got 95% of the ask - a little over $1300 psf.

Update: $200K reduction on 90 RSD, after all of twelve days on the market.

http://www.prudentialelliman.com/Listings.aspx?ListingID=1025172&rentalperiod=&SearchType=newestproperties&Region=NYC

I guess that answers JohnDoe's question about the $2.2MM price.

Oops. Broken link.
http://www.prudentialelliman.com/Listings.aspx?ListingID=1025172

West 81st thanks for the update on the apt. at 90 RSD. It is not in my price range, I'm waiting to see if some of the $1,599,000 and under apts. on the UWS start moving down. I went to 9 OH's last Sunday, there was moderate to heavy traffic in all of them, except for one at 142 WEA on the 30th floor.. Lots of couples with one child. If anyone is interested, let me know and I will post my comments to what I saw. Thanks again W81st for all you insight.

west81st, do you have any thoughts on this apt: http://www.streeteasy.com/nyc/sale/193165-coop-755-west-end-avenue-upper-west-side-new-york
Have you seen it?

samnyc: Here's my write-up from last month...

755 West End Avenue #5C
↓ $1,350,000; Maint. $1530
Coop, 2 beds 2 baths + maid's suite w/half bath; 1650 sq.ft.
http://www.streeteasy.com/nyc/sale/193165-coop-755-west-end-avenue-upper-west-side-manhattan
Traffic: Best turnout I've seen all summer.

If this were "Consumer Reports", I'd put a little "Best Buy" stamp on this opened-up classic six. It has warts, certainly. Most of the windows face west into an alley, light is in short supply throughout, the bathrooms need some work and the renovated kitchen is an odd mix of styles.

Nonetheless, at $1.35MM, in a solid, full-service building with low maintenance and no financial gimmicks like flip taxes, this apartment is a clear value leader. The flow is much better than I expected, and the kitchen/dining area is better than it looks in the pictures. It's also wide enough that it could probably accommodate a family/TV space (assuming your dining table is small or contractable). Although views are a weakness, the living room and master have a pleasant quiet northern outlook over 97th Street.

A lot of young families turned up for the open house. My guess is that Elliman is hoping to attract multiple bids and push the price back up toward $1.5MM. If this one actually sells for the current ask (or less), appraisers and agents may have to recalibrate their thinking about classic sixes in the upper 90s.

http://www.streeteasy.com/nyc/talk/discussion/4691-open-house-reports-81708

Thank you. Very helpful.

W81 -

I dig your write-ups. If you ever want to take a look at some of the stuff I have for sale - renovated and unrenovated - I'd love to take you for a drive...if only to be able to read your candid assessment afterwards.

Why does a seller/broker offering West81st a ride give me a vaguely Hitchcockian feeling?

Sorry, SomeonewhoKnows, couldn't help myself.

Heh, you're right...worse than Hitchcock, rereading my comment, it does seem kinda, uh, child molester-y. Sorry bout that.

Leave the gun. Take the cannoli.

SwK: Thanks for the offer. It would be fun, but I can't take you up on it.

Sounds ominous. But ok.

Really, SwK, it's not you... It's me. (I always wanted to use that line.)

Anyone attend an OH this weekend???

Not I. Busy with the kids on Sunday. Might hit a few during the week.

I went to a few (FiDi). I'll post a report at some point in a new thread.

W81st the 221 W.82nd Street was originally part of a combination - 14CD so the high initial price was to get the combination up to where they thought it should be (way too high, obviously).

stanco88: Good point. Add that as reason #8 for the price cuts.

I've seen a lot of listings for adjacent apartments come and go ("Once-in-a-life opprtunity to combine..."). Most of them don't sell, partly because the sellers expect a completely absurd premium over the separate value of the apartments, and partly because it's very rare for a truly motivated seller to tie his fate to his neighbor's.

Jordyn - Are you saying that there were actual people that showed up?

Not really. Just posted a report in a new (appropriately titled) thread.