Saw three this week. Here's the first report: 240 West 102nd Street #63 $1,795,000 maint. $1493 2BR/2BA 1800 sq.ft. Traffic: None. (At 1pm on a Thursday, low turnout is normal.) After seeing so many apartments dubiously described as "loft-like", I'm surprised the term does not appear in this Elliman listing. The circa-2001 gut reno included raising the ceilings in the public spaces to nearly 12... [more]
Saw three this week. Here's the first report:
240 West 102nd Street #63
$1,795,000 maint. $1493 2BR/2BA 1800 sq.ft.
Traffic: None. (At 1pm on a Thursday, low turnout is normal.)
After seeing so many apartments dubiously described as "loft-like", I'm surprised the term does not appear in this Elliman listing. The circa-2001 gut reno included raising the ceilings in the public spaces to nearly 12 feet; as a result, the east-facing dining and living rooms really do have the airiness of loft space. The renovation added classical touches like columns, elaborate moldings, a marble entry hall and solid, paneled double doors, as well as modern conveniences like walk-in closets, a sit-down steam shower, a lovely eat-in kitchen and clever built-in storage everywhere.
This is an elegant apartment, on the top floor of a solid, modest family building in a neighborhood just north of prime UWS. The price, for this much sunny space in beautiful condition, is quite competitive. Why, then, does it languish on the market after ten months and reductions, so far, of $700K?
Obviously, the general state of the market is an issue, but I think this listing has a particular problem with positioning. To put it more bluntly, "Who's supposed to buy this place?" For a family home, too much of the footprint is earmarked for grown-up entertaining; there's really nowhere for kids to play (BTW, the building's playroom reportedly needs a lot of work). There isn't much room for them to sleep, either; although there's ample floorspace for a third bedroom, creating one - by carving up the living room or sacrificing the dining room - would turn a distinctive apartment into a rather ordinary one.
The buyer pool for this listing might be empty nesters (straight or gay), perhaps with Columbia connections, who like to entertain. Those are reasonably lucrative demographics, but also relatively narrow ones, and they have many options with better services all over town. So, while this apartment is a charming place to visit, I can understand why nobody is leaping at the chance to live there.
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Response by kgg
about 17 years ago
Posts: 404
Member since: Nov 2007
Not to mention that buyers who were expecting turmoil in the market have been rewarded with the biggest corporate crashes in history. There are no buyers. Whether the apt fits a narrow demographic or not there is no funding there are no buyers. None. In another 10 months they will be lucky to get a million. Perhaps if they drop it fast they will get 1.295. Wish them luck.
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Response by walterh7
about 17 years ago
Posts: 383
Member since: Dec 2006
Thanks, as always for the report. What would you think of really turning this space into a loft? Remove the walls between the kitchen, dining room, and living room. Then adding a 3rd BR as they have it in the 2nd fl plan in the listing. Looking at the listing for #33 in the same building, I like the repositioning of the 2nd BR to give it hallway access rather than through the kitchen.
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Response by bjw2103
about 17 years ago
Posts: 6236
Member since: Jul 2007
West81st, haven't seen the place in person, but have to agree with your assessment. There is a second floorplan included in the listing that shows an "easy" third bedroom, but yeah, this looks geared towards not having little ones in an area with a lot of families. If this were anywhere downtown, I think this would have sold fairly quickly. I don't think this drops to under $1m though, kgg.
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Response by West81st
about 17 years ago
Posts: 5564
Member since: Jan 2008
Here's report #2:
306 West 100th Street #61
↓ $1,749,000 maint. $1507 4BR/2BA ~1750 sq.ft.
Traffic: Several brokers, no buyers (normal for 1:30 on a weekday).
The dual Elliman/Argo listing claims four bedrooms. I think this freshly renovated, vacant unit, which probably started life as a Victorian seven, functions more like a classic six. The third "bedroom" is really a maid's room - admittedly, an oversized one with a compact, en-suite full bathroom The fourth BR is one side of a Victorian double parlor. The two primary bedrooms are rather small, though they have decent closets. One features a narrow balcony overlooking 100th Street; as a parent, I found it more frightening than functional. The other has a sturdy old wall safe that might prove handy if the banking meltdown progresses much farther. There is no clear master, since the family quarters share a single hall bath.
The dining room is large, and it communicates well with the new kitchen. That section of the apartment is rather dark, though not oppressive. The divided parlor has french doors and juliet balconies - all quite pretty, and rather Parisian. Elliman's alternate floorplan proposes merging the parlor into a single room. That would provide a more open feeling, at the cost of less flexibility for hosting overnight guests.
My impression is that the renovation here was done rather cheaply. The bathrooms are basic, and I didn't see any significant upgrades to lighting or climate control. The floor in the maid's room is tacky veneer. On a block glutted with inventory by the conversion of a very similar building (314) next door, cutting those corners may have been a serious marketing error. In short, this is a nice apartment with some Old World charm, and the both the block and the refurbished lobby are lovely; but the days of rushing a slapdash reno in a non-doorman building onto the market and charging $2MM are long gone. Last week's $250K price cut may just be the beginning.
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Response by West81st
about 17 years ago
Posts: 5564
Member since: Jan 2008
And now #3:
250 West 100th Street #10H
$1,995,000 maint. $1822 3BR(counting maid's)/2.5BA 1,850 ft²
Traffic: very light
This classic six is well-situated, in an excellent building at the northern end of prime UWS, with the express train around the corner - a boon for anyone who still has a job downtown. The low profile of Pomander Walk across 94th Street allows a surprising amont of light to reach the north-facing rooms. The corner master even gets a glimpse of sunsets on the Hudson, if you tilt your head just right.
The apartment itself didn't make a very strong impression either way. The owners have made minor enhancements over the years to suit their evolving needs and tastes, like new bathrooms and some built-in storage,. They have not, however, done much to address the inefficiency of the space. As a result, although the apartment is generally in good shape (other than the obsolete kitchen), you might have to gut everything except the bedroom wing to get the most from the generous footprint.
A good architect/designer team could probably do something exciting with the 11-1200 ft² that comprise the kitchen, maid's room, foyer, LR and DR. The optimal use of that space would depend on family size and other variables. The key point is that, in its current configuration, this apartment functions as though it were 10-20% smaller, and that means it compares/competes with apartments that are priced $200-400K lower. The advantage here is that you have the flexibility to create a legitimate 3BR - or even a compact 4BR. So for a family that expects to grow, the answer might be to fix the kitchen and leave the rest as-is until the next baby arrives. Will anyone pay $2MM for that option? Color me skeptical.
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Response by West81st
about 17 years ago
Posts: 5564
Member since: Jan 2008
Oops, major copy/paste error: The address of #3 is 250 West 94th, not 100th.
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Response by West81st
about 17 years ago
Posts: 5564
Member since: Jan 2008
Walterh7: I don't think the kitchen of #63 would merge very well with the other public spaces. For one thing, the ceiling height is different, by about a foot and a half. You would also kill much of the kitchen's functionality, because the breakfast area and a fair amount of storage are built in along the wall you would have to knock down.
Personally, I think the formal hallway and that grand, double-door entry to the living room are kind of neat, if a bit self-consciously Georgian for 102nd Street. In my view, this apartment should be taken (or left) on its own terms. If you love it as-is, buy it; if you really want something else, then find a less-finished space and try to realize your own vision.
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Response by hsw9001
about 17 years ago
Posts: 278
Member since: Apr 2007
Interesting reports. Last weekend I went to 40 W77th #7A and it was packed. I came about 5-10 minutes before the end and it was the only open house I've been to where the broker took a look at me and called the doorman to stop letting people up. I guess the showing was so successful that he didn't need more exposure. I've no idea why the listing was so hot. The location is good but the price is "meh". The views just clear the adjacent rooftops. Thoughts?
Nice block. Half the visitors were probably hoping the exposure was north over museum rather than rear.
Thus the turnout. Just a guess.
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Response by Margategirl
about 17 years ago
Posts: 25
Member since: May 2006
hsw9001 - I saw 40 W. 77th last weekend also. The reason why the broker stopped letting people up, is because he had to rush to another open house he advertised on W. 86th. I thought W. 77 would be really nice if the floorplan was changed to the alternate plan offered, making the L/R into a bedroom, and the 2nd bedroom, dining rm. & kitchen into one huge open space. The only thing that could be saved other than the wood floors, was the small master bath which was well done. The location is wonderful.
West 81st - Thanks again for your reports. I look forward to them always.
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Response by West81st
about 17 years ago
Posts: 5564
Member since: Jan 2008
Visited one more today. Didn't seem worthy of its own thread, so I'll post it here.
This pre-war classic six was gutted and converted to a sleek, modern showpiece around 2002-2003. Its distinctive features include a huge fantasy kitchen and great storage/closets. The formal dining room has given up its window to a modest third bedroom; the dining area is still of ample size and the flow of the public spaces is good. The living room is smallish, but comfortable and well-lit. The northward view from the living room and the two main bedrooms is mostly open, because 118 faces several low buildings across 79th Street. The master suite is large and well-appointed. It shares a wall with the kids' room, but is buffered from noise by built-ins. The bathrooms are excellent, especially the master. The lack of a powder room is a negative for entertaining; guests have to use the hall bathroom in the family wing.
With its clean lines, uncluttered space, and general aura of feng shui, the apartment shows beautifully. For a "foodie" family whose perfect evening is a Bon Appetit exhibition at MOMA, this listing could be a good choice. I do wonder, though, whether a buyer that obsessed with style and food would really want to adopt somebody else's design vision and dream kitchen - especially one that includes some details (marble countertops, dark floors and cabinets) that already look a bit dated.
For the rest of us, there may be less here than meets the eye. With lots of classic sixes available in good buildings for $1.5-2MM, is a seven-year-old renovation really worth an extra million-plus dollars? For all the high-end finishes, what's on offer here is a pretty standard conversion: merge the maid's room into the kitchen; split the dining room to create a third bedroom; reduce the foyer and hallway to enhance useable public space. Normally, that's not a seven-figure job, and if you absolutely must have custom marble countertops that wrap to the floor, you can probably get them made for a lot less.
Valerie Artzt says the owners have outgrown this apartment. I think maybe they're just bored with it. It's SO 2002. Anyway, the price was just reduced from $3.2MM, which is a good start.
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Response by NYRENewbie
about 17 years ago
Posts: 591
Member since: Mar 2008
West81, you are a gifted observer, adviser, and writer. Thank you from your devoted followers.
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Response by West81st
about 17 years ago
Posts: 5564
Member since: Jan 2008
Newbie: My pleasure. As addictions go, open houses are a relatively harmless one.
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Response by bela
about 17 years ago
Posts: 183
Member since: Jul 2008
west 81st i must agree with newbie. to be honest i read this forum mainly b/c of your reviews
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Response by evnyc
about 17 years ago
Posts: 1844
Member since: Aug 2008
west81st, I agree with newbie and bela. I read this board for your perspectives. thank you.
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Response by West81st
about 17 years ago
Posts: 5564
Member since: Jan 2008
Postscript to the first report: 240 West 102nd Street #63 has been reduced another $200K, to $1.595MM.
http://www.prudentialelliman.com/Listings.aspx?ListingID=932385 It has now been reduced a total of $900K, or 36%. A charming apartment, really, but clearly a problematic one.
Again, thanks for the generous remarks.
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Response by 407PAS
about 17 years ago
Posts: 1289
Member since: Sep 2008
There you go again West 81st, posting open house updates for units costing north of $1 million, my goodness, many units costing close to 2 million! Do you think all StreetEasy buyers can pony up that kind of dough? It's nice to dream but let's get real. Now, I am sure none of the units you have posted are out of line with comps or recently sold units in the building.
You got anything under a million or close to a mill that looks good? Send me email if you find anything. Don't splatter it across the board. ;-)
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Response by 407PAS
about 17 years ago
Posts: 1289
Member since: Sep 2008
Just joking, I'll find my own next apartment.
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Response by julia
about 17 years ago
Posts: 2841
Member since: Feb 2007
407PAS...I'm glad you're joking...
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Response by Margategirl
about 17 years ago
Posts: 25
Member since: May 2006
West81st Could you give an estimate on how many sq. ft. you think 240 West 102nd St. is? I have not seen it in person. Thanks again for your reports.
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Response by West81st
about 17 years ago
Posts: 5564
Member since: Jan 2008
Margategirl: The quoted size (1800) looks pretty close. I might have said 1700.
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Response by 407PAS
about 17 years ago
Posts: 1289
Member since: Sep 2008
"407PAS...I'm glad you're joking..."
Uh, yeah, whatever. I guess West81st would try to push me to spend $1.549 million, down from $2.149 million, with an actual fair market value of $1.125 million. This is so much fun.
Does anybody think they'll ever suspend the mansion tax? Now that would help out sales of apartments in the city, especially those close to the million dollar mark.
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Response by curiously
about 17 years ago
Posts: 91
Member since: Jun 2008
407PAS....what's your beef with West 81st? This board gets more quality information from him/her than anyone else out there..
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Response by 407PAS
about 17 years ago
Posts: 1289
Member since: Sep 2008
I have no beef with West81st, although I think his analysis would be more interesting if he worked from comps on a unit upwards to the listed price as opposed to moving from irreality to irreality by moving from the initial listing price down to lower asking prices, all of them overpriced.
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Response by 407PAS
about 17 years ago
Posts: 1289
Member since: Sep 2008
or maybe her analysis.. Has West81st come clean on gender? That would make these conversations easier...
And is she/he a broker??
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Response by curiously
about 17 years ago
Posts: 91
Member since: Jun 2008
my vote is She and an independent broker
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Response by jaspernonbeliever
about 17 years ago
Posts: 90
Member since: Jun 2008
Speaking of prices in 'irreality', how the FSBO going 407PAS?
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Response by 407PAS
about 17 years ago
Posts: 1289
Member since: Sep 2008
Hey Jasper,
Thanks for asking. As the dude from The Big Lebowski" said, "The dude abides"...
Haha, the irreality in this thread is in the hundreds of thousands of dollars and you beat up on me for peanuts. Obviously, my price is too low.
You still bidding on that Brian Lewis place? I left the floor open for you...
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Response by evnyc
about 17 years ago
Posts: 1844
Member since: Aug 2008
I actually love that apartment. Anyone want to bail me out to the tune of $1.6 mil? ;)
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Response by julia
about 17 years ago
Posts: 2841
Member since: Feb 2007
West81st doesn't give good information. It's very specific to one price range. I wonder if he/she lives in a rent control 5th floor walkup and is leading a double life on streeteasy.
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Response by curiously
about 17 years ago
Posts: 91
Member since: Jun 2008
.start a string of your own for a different range then...
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Response by drdrd
about 17 years ago
Posts: 1905
Member since: Apr 2007
I've always thought that West 81st is a female. I never thought of real estate but it seems to be something in the money field. She/he is a smart cookie, certainly.
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Response by mrsblogs
about 17 years ago
Posts: 89
Member since: Mar 2008
West81st - You rule Streeteasy - keep up the great work!
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Response by waverly
about 17 years ago
Posts: 1638
Member since: Jul 2008
West81st is a female and she is a smart, savvy and witty one at that. Her insight is useful and her posts thought-provoking. She is not a broker.
FWIW, she also seems to be a pretty nice person....keep up the great work!
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Response by drg
about 17 years ago
Posts: 77
Member since: Apr 2007
Should we start taking odds?
West81st is a woman with 2 kids in public school. Definitely not a broker. Maybe something in law, but not a corporate lawyer.
Great write-ups on her price point.
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Response by Riv_Drive
about 17 years ago
Posts: 156
Member since: Mar 2007
Like Julia is really a broker leading a double life as someone looking for a 1-br on Streeteasy?
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Response by julia
about 17 years ago
Posts: 2841
Member since: Feb 2007
Here we go again...West81st had time in her/his day to look through all the postings and find every one of my postings and make comments about them....draw your own conclusions.
I love West81st's reviews. As a single woman the last thing I need or can afford is a classic six but I have friends...and when I move out of New York later this week I will be reading breathlessly
The reviews remind me of small New Yorker pieces (pre Tina Brown) and that's about the best compliment I can give
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Response by curiously
about 17 years ago
Posts: 91
Member since: Jun 2008
all hail west 81st
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Response by drg
about 17 years ago
Posts: 77
Member since: Apr 2007
Julia,
This is West81st's thread. She bumped it today to give an update on a price reduction for one of the apartments she viewed in late September. It wasn't in response to you. The only conclusion I can draw from your posts is that you are a narcissist.
If you don't like her postings or think she is not reviewing enough apartments, why don't you give up your Sundays, wear out a little shoe leather yourself, and post some reviews? I'm sure those in the 1-BR price range would appreciate it.
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Response by julia
about 17 years ago
Posts: 2841
Member since: Feb 2007
kas242...you must be sharing the 5th floor walkup with West 81st.
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Response by julia
about 17 years ago
Posts: 2841
Member since: Feb 2007
drg...I'm out of here...I just cancelled my account. There is nothing more to learn. Everyone is in attack mode. Maybe it's the economy but the great information I learned here ended months ago I just hung in there hoping that people would start discussing real estate. I had always enjoyed West81st's thread. The new people on here don't offer the information I need. Thanks to those who were helpful and to those who were cruel and unkind.....
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Response by 407PAS
about 17 years ago
Posts: 1289
Member since: Sep 2008
Don't let them get you down Julia. Stick around. I also enjoy West 81st's posts and I think I will post some open house reports in a lower price bracket, as someone else suggested.
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Response by Riv_Drive
about 17 years ago
Posts: 156
Member since: Mar 2007
That's because Julia is a broker and can't pound the pavement on Sundays bc she is busy showing apartments.
anybody know if co-ops will face bankruptcy because they can't refinance their mortgages? will their be huge assessments on existing co-op owners to pay down mortgages? Also, what happens if the guy from lehman brothers can't get a new job, can't pay his existing maintenance, can't sell the co-op, and can't pay any assessment?
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Response by october
about 17 years ago
Posts: 145
Member since: Mar 2008
Maybe one day julia will finally find that $450k one bedroom of her dreams . . . .
Julia sees real estate through the lens of her personal narrative. I guess we all do that to some extent. I just wanted her to clear up the contradictory story lines (which, by the way, took about eight minutes to research) or drop the act. I didn't intend it as an "ad feminam" attack.
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Response by Riv_Drive
about 17 years ago
Posts: 156
Member since: Mar 2007
So West81st - are you the man behind nycondoblog.com?
Ok 1.5MM sounds about right... those prices before were still way too high especially for being above 100th st.
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Response by bjw2103
almost 17 years ago
Posts: 6236
Member since: Jul 2007
Thanks West81st. I think your call was more impressive though - young couple (presumably) without any children, or just getting around to having kids. I'd imagine they see enough flexibility to add a third bedroom (and make it somewhat more ordinary) but have time to enjoy the place as is. By the time the kids are old enough to have separate bedrooms, they won't really care anymore about having a "loft-like" space. And though this isn't prime UWS, I do kind of like the location.
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Not to mention that buyers who were expecting turmoil in the market have been rewarded with the biggest corporate crashes in history. There are no buyers. Whether the apt fits a narrow demographic or not there is no funding there are no buyers. None. In another 10 months they will be lucky to get a million. Perhaps if they drop it fast they will get 1.295. Wish them luck.
Thanks, as always for the report. What would you think of really turning this space into a loft? Remove the walls between the kitchen, dining room, and living room. Then adding a 3rd BR as they have it in the 2nd fl plan in the listing. Looking at the listing for #33 in the same building, I like the repositioning of the 2nd BR to give it hallway access rather than through the kitchen.
West81st, haven't seen the place in person, but have to agree with your assessment. There is a second floorplan included in the listing that shows an "easy" third bedroom, but yeah, this looks geared towards not having little ones in an area with a lot of families. If this were anywhere downtown, I think this would have sold fairly quickly. I don't think this drops to under $1m though, kgg.
Here's report #2:
306 West 100th Street #61
↓ $1,749,000 maint. $1507 4BR/2BA ~1750 sq.ft.
Traffic: Several brokers, no buyers (normal for 1:30 on a weekday).
The dual Elliman/Argo listing claims four bedrooms. I think this freshly renovated, vacant unit, which probably started life as a Victorian seven, functions more like a classic six. The third "bedroom" is really a maid's room - admittedly, an oversized one with a compact, en-suite full bathroom The fourth BR is one side of a Victorian double parlor. The two primary bedrooms are rather small, though they have decent closets. One features a narrow balcony overlooking 100th Street; as a parent, I found it more frightening than functional. The other has a sturdy old wall safe that might prove handy if the banking meltdown progresses much farther. There is no clear master, since the family quarters share a single hall bath.
The dining room is large, and it communicates well with the new kitchen. That section of the apartment is rather dark, though not oppressive. The divided parlor has french doors and juliet balconies - all quite pretty, and rather Parisian. Elliman's alternate floorplan proposes merging the parlor into a single room. That would provide a more open feeling, at the cost of less flexibility for hosting overnight guests.
My impression is that the renovation here was done rather cheaply. The bathrooms are basic, and I didn't see any significant upgrades to lighting or climate control. The floor in the maid's room is tacky veneer. On a block glutted with inventory by the conversion of a very similar building (314) next door, cutting those corners may have been a serious marketing error. In short, this is a nice apartment with some Old World charm, and the both the block and the refurbished lobby are lovely; but the days of rushing a slapdash reno in a non-doorman building onto the market and charging $2MM are long gone. Last week's $250K price cut may just be the beginning.
And now #3:
250 West 100th Street #10H
$1,995,000 maint. $1822 3BR(counting maid's)/2.5BA 1,850 ft²
Traffic: very light
This classic six is well-situated, in an excellent building at the northern end of prime UWS, with the express train around the corner - a boon for anyone who still has a job downtown. The low profile of Pomander Walk across 94th Street allows a surprising amont of light to reach the north-facing rooms. The corner master even gets a glimpse of sunsets on the Hudson, if you tilt your head just right.
The apartment itself didn't make a very strong impression either way. The owners have made minor enhancements over the years to suit their evolving needs and tastes, like new bathrooms and some built-in storage,. They have not, however, done much to address the inefficiency of the space. As a result, although the apartment is generally in good shape (other than the obsolete kitchen), you might have to gut everything except the bedroom wing to get the most from the generous footprint.
A good architect/designer team could probably do something exciting with the 11-1200 ft² that comprise the kitchen, maid's room, foyer, LR and DR. The optimal use of that space would depend on family size and other variables. The key point is that, in its current configuration, this apartment functions as though it were 10-20% smaller, and that means it compares/competes with apartments that are priced $200-400K lower. The advantage here is that you have the flexibility to create a legitimate 3BR - or even a compact 4BR. So for a family that expects to grow, the answer might be to fix the kitchen and leave the rest as-is until the next baby arrives. Will anyone pay $2MM for that option? Color me skeptical.
Oops, major copy/paste error: The address of #3 is 250 West 94th, not 100th.
Walterh7: I don't think the kitchen of #63 would merge very well with the other public spaces. For one thing, the ceiling height is different, by about a foot and a half. You would also kill much of the kitchen's functionality, because the breakfast area and a fair amount of storage are built in along the wall you would have to knock down.
Personally, I think the formal hallway and that grand, double-door entry to the living room are kind of neat, if a bit self-consciously Georgian for 102nd Street. In my view, this apartment should be taken (or left) on its own terms. If you love it as-is, buy it; if you really want something else, then find a less-finished space and try to realize your own vision.
Interesting reports. Last weekend I went to 40 W77th #7A and it was packed. I came about 5-10 minutes before the end and it was the only open house I've been to where the broker took a look at me and called the doorman to stop letting people up. I guess the showing was so successful that he didn't need more exposure. I've no idea why the listing was so hot. The location is good but the price is "meh". The views just clear the adjacent rooftops. Thoughts?
http://www.streeteasy.com/nyc/sale/347772-coop-40-west-77th-street-upper-west-side-new-york
Nice block. Half the visitors were probably hoping the exposure was north over museum rather than rear.
Thus the turnout. Just a guess.
hsw9001 - I saw 40 W. 77th last weekend also. The reason why the broker stopped letting people up, is because he had to rush to another open house he advertised on W. 86th. I thought W. 77 would be really nice if the floorplan was changed to the alternate plan offered, making the L/R into a bedroom, and the 2nd bedroom, dining rm. & kitchen into one huge open space. The only thing that could be saved other than the wood floors, was the small master bath which was well done. The location is wonderful.
West 81st - Thanks again for your reports. I look forward to them always.
Visited one more today. Didn't seem worthy of its own thread, so I'll post it here.
118 West 79th Street (I think the apartment number is 8B, but can't swear by it)
↓ $2,995,000 maint. $2269. 3BR/2BA, no square footage given.
http://www.streeteasy.com/nyc/sale/316916-coop-118-west-79th-street-upper-west-side-new-york
Traffic: moderate
This pre-war classic six was gutted and converted to a sleek, modern showpiece around 2002-2003. Its distinctive features include a huge fantasy kitchen and great storage/closets. The formal dining room has given up its window to a modest third bedroom; the dining area is still of ample size and the flow of the public spaces is good. The living room is smallish, but comfortable and well-lit. The northward view from the living room and the two main bedrooms is mostly open, because 118 faces several low buildings across 79th Street. The master suite is large and well-appointed. It shares a wall with the kids' room, but is buffered from noise by built-ins. The bathrooms are excellent, especially the master. The lack of a powder room is a negative for entertaining; guests have to use the hall bathroom in the family wing.
With its clean lines, uncluttered space, and general aura of feng shui, the apartment shows beautifully. For a "foodie" family whose perfect evening is a Bon Appetit exhibition at MOMA, this listing could be a good choice. I do wonder, though, whether a buyer that obsessed with style and food would really want to adopt somebody else's design vision and dream kitchen - especially one that includes some details (marble countertops, dark floors and cabinets) that already look a bit dated.
For the rest of us, there may be less here than meets the eye. With lots of classic sixes available in good buildings for $1.5-2MM, is a seven-year-old renovation really worth an extra million-plus dollars? For all the high-end finishes, what's on offer here is a pretty standard conversion: merge the maid's room into the kitchen; split the dining room to create a third bedroom; reduce the foyer and hallway to enhance useable public space. Normally, that's not a seven-figure job, and if you absolutely must have custom marble countertops that wrap to the floor, you can probably get them made for a lot less.
Valerie Artzt says the owners have outgrown this apartment. I think maybe they're just bored with it. It's SO 2002. Anyway, the price was just reduced from $3.2MM, which is a good start.
West81, you are a gifted observer, adviser, and writer. Thank you from your devoted followers.
Newbie: My pleasure. As addictions go, open houses are a relatively harmless one.
west 81st i must agree with newbie. to be honest i read this forum mainly b/c of your reviews
west81st, I agree with newbie and bela. I read this board for your perspectives. thank you.
Postscript to the first report: 240 West 102nd Street #63 has been reduced another $200K, to $1.595MM.
http://www.prudentialelliman.com/Listings.aspx?ListingID=932385
It has now been reduced a total of $900K, or 36%. A charming apartment, really, but clearly a problematic one.
Again, thanks for the generous remarks.
There you go again West 81st, posting open house updates for units costing north of $1 million, my goodness, many units costing close to 2 million! Do you think all StreetEasy buyers can pony up that kind of dough? It's nice to dream but let's get real. Now, I am sure none of the units you have posted are out of line with comps or recently sold units in the building.
You got anything under a million or close to a mill that looks good? Send me email if you find anything. Don't splatter it across the board. ;-)
Just joking, I'll find my own next apartment.
407PAS...I'm glad you're joking...
West81st Could you give an estimate on how many sq. ft. you think 240 West 102nd St. is? I have not seen it in person. Thanks again for your reports.
Margategirl: The quoted size (1800) looks pretty close. I might have said 1700.
"407PAS...I'm glad you're joking..."
Uh, yeah, whatever. I guess West81st would try to push me to spend $1.549 million, down from $2.149 million, with an actual fair market value of $1.125 million. This is so much fun.
Does anybody think they'll ever suspend the mansion tax? Now that would help out sales of apartments in the city, especially those close to the million dollar mark.
407PAS....what's your beef with West 81st? This board gets more quality information from him/her than anyone else out there..
I have no beef with West81st, although I think his analysis would be more interesting if he worked from comps on a unit upwards to the listed price as opposed to moving from irreality to irreality by moving from the initial listing price down to lower asking prices, all of them overpriced.
or maybe her analysis.. Has West81st come clean on gender? That would make these conversations easier...
And is she/he a broker??
my vote is She and an independent broker
Speaking of prices in 'irreality', how the FSBO going 407PAS?
Hey Jasper,
Thanks for asking. As the dude from The Big Lebowski" said, "The dude abides"...
Haha, the irreality in this thread is in the hundreds of thousands of dollars and you beat up on me for peanuts. Obviously, my price is too low.
You still bidding on that Brian Lewis place? I left the floor open for you...
I actually love that apartment. Anyone want to bail me out to the tune of $1.6 mil? ;)
West81st doesn't give good information. It's very specific to one price range. I wonder if he/she lives in a rent control 5th floor walkup and is leading a double life on streeteasy.
.start a string of your own for a different range then...
I've always thought that West 81st is a female. I never thought of real estate but it seems to be something in the money field. She/he is a smart cookie, certainly.
West81st - You rule Streeteasy - keep up the great work!
West81st is a female and she is a smart, savvy and witty one at that. Her insight is useful and her posts thought-provoking. She is not a broker.
FWIW, she also seems to be a pretty nice person....keep up the great work!
Should we start taking odds?
West81st is a woman with 2 kids in public school. Definitely not a broker. Maybe something in law, but not a corporate lawyer.
Great write-ups on her price point.
Like Julia is really a broker leading a double life as someone looking for a 1-br on Streeteasy?
Here we go again...West81st had time in her/his day to look through all the postings and find every one of my postings and make comments about them....draw your own conclusions.
I have a hunch that this could be West81st:
http://www.nycondoblog.com/?page_id=569
"West81st doesn't give good information. It's very specific to one price range."
... and you, Julia, add NO information. You seem to have sixth-grade girl envy for West81st. I assume you are more than 12. Now start acting like it.
Check out the entry on Avonova and his love for West 81st Street:
http://www.nycondoblog.com/?p=611#more-611
I love West81st's reviews. As a single woman the last thing I need or can afford is a classic six but I have friends...and when I move out of New York later this week I will be reading breathlessly
The reviews remind me of small New Yorker pieces (pre Tina Brown) and that's about the best compliment I can give
all hail west 81st
Julia,
This is West81st's thread. She bumped it today to give an update on a price reduction for one of the apartments she viewed in late September. It wasn't in response to you. The only conclusion I can draw from your posts is that you are a narcissist.
If you don't like her postings or think she is not reviewing enough apartments, why don't you give up your Sundays, wear out a little shoe leather yourself, and post some reviews? I'm sure those in the 1-BR price range would appreciate it.
kas242...you must be sharing the 5th floor walkup with West 81st.
drg...I'm out of here...I just cancelled my account. There is nothing more to learn. Everyone is in attack mode. Maybe it's the economy but the great information I learned here ended months ago I just hung in there hoping that people would start discussing real estate. I had always enjoyed West81st's thread. The new people on here don't offer the information I need. Thanks to those who were helpful and to those who were cruel and unkind.....
Don't let them get you down Julia. Stick around. I also enjoy West 81st's posts and I think I will post some open house reports in a lower price bracket, as someone else suggested.
That's because Julia is a broker and can't pound the pavement on Sundays bc she is busy showing apartments.
Julia also claimed she won't be posting anymore as of two weeks ago:
http://www.streeteasy.com/nyc/talk/discussion/5369-julia-dryships-ditzy-broker
Let's see if it sticks this time.
Here's to hoping....
anybody know if co-ops will face bankruptcy because they can't refinance their mortgages? will their be huge assessments on existing co-op owners to pay down mortgages? Also, what happens if the guy from lehman brothers can't get a new job, can't pay his existing maintenance, can't sell the co-op, and can't pay any assessment?
Maybe one day julia will finally find that $450k one bedroom of her dreams . . . .
Here's the thread that convinced poor Julia of my malign intent:
http://www.streeteasy.com/nyc/talk/discussion/5338-huge-price-drops-today
Maybe I'm just a vicious b!tch; I don't even see what's so terrible about that exchange.
Julia sees real estate through the lens of her personal narrative. I guess we all do that to some extent. I just wanted her to clear up the contradictory story lines (which, by the way, took about eight minutes to research) or drop the act. I didn't intend it as an "ad feminam" attack.
So West81st - are you the man behind nycondoblog.com?
Riv_Drive: No.
drg/drdrd: Both basically right.
Close the book on 240 West 102nd #63. It sold for $1.5MM. Good call, bjw2103.
http://www.streeteasy.com/nyc/sale/155661-coop-240-west-102nd-street-manhattan-valley-new-york
The buyers are a young couple, doctor and lawyer. Here's wishing them many years of happiness in their new home.
Ok 1.5MM sounds about right... those prices before were still way too high especially for being above 100th st.
Thanks West81st. I think your call was more impressive though - young couple (presumably) without any children, or just getting around to having kids. I'd imagine they see enough flexibility to add a third bedroom (and make it somewhat more ordinary) but have time to enjoy the place as is. By the time the kids are old enough to have separate bedrooms, they won't really care anymore about having a "loft-like" space. And though this isn't prime UWS, I do kind of like the location.