Best Priced Units Right now

Brevoort East, 20 East 9th Street, Apt. 11D, about 1000 sq/ft jr. four with sunroom, protected views. Similar units were selling at peak well over $1MM here and at 2 Fifth. This one is $875K being offered by a motivated estate. Needs fair amount of work but is more livable than most estate sales I've seen.

Really old building no? I've passed by this building many times and its exterior is not exactly attractive. Lobby also doesn't looks old.

This would be a useful thread to expand and keep going.

If nothing else because it would give everyone a chance to zero in on examples of aggressive pricing that is in line with or ahead of the market curve.

A lot of time is spent focusing on all the overpriced properties (for good reason) but not enough on examining well priced properties.

will never work. The reason why people won't mention well priced properties is because they are saving it for themselves to either bid on it now or later.

but if it is overpriced, it doesn't matter.

Fair point, I suppose. Though that presumes that people are interested in every well priced property they come across.

Which is obviously not true.

Yes, look at the price chopper and the comps threads. Real estate is sport for some. The only problem is this type of thread gets quite long, it's very easy to lose track of what's already been posted, so it takes a bit of work.

I find the Price Chopper thread interesting, but most if not all those properties are high end, if I recall. All in several millions of dollars.

I'd be more interested in discussing well priced properties under $2mm.

Oh, I'll mention one - in fact I'll even show it to you -

http://www.streeteasy.com/nyc/sale/347779-coop-315-west-106th-street-manhattan-valley-new-york

That's it - that's the best priced apartment for what it offers in NYC right now. I said it, I believe it, I dare anyone to prove me wrong.

Go on, take yer best shot

lp: Only question I would have, Halstead generally has the best photos on the web, they do that right! Why only one 3 snaps and no kitchen? 2,000 f2 exactly $1,000 per f2 offered.

The kitchen is gorgeous. The office has stellar river views. The apartment will sell at this price...

Nice call Nan, from your fingertips to a buyers wallet. Nan calls the bottom!

I think it's well priced for what the apt has to offer. It's got river views, a nice location and a lovely intimate building. It doesn't need any work, and it's family sized...I'm not saying we're at the bottom...

I can't comment on why only 3 snaps, but I saw this apartment when it was $3,175,000 - at the first open house. I thought it was a beautiful apartment that just wasn't priced in keeping with the market around us. The common spaces are smaller than what we're looking for, but the building seems solid and the apartment is - really - very nice. The kitchen in particularwas done thoughtfully and all appliances well located, good brands etc.

And what I wonder about this listing is what it does to listings like these -

http://www.corcoran.com/property/listing.aspx?Region=NYC&listingid=1487070

So the price as well as the maintenance is 50% higher for a not as nice building on a street that leads to the west side highway withOUT river views . . . and on and on . . .

Am I missing something here or is every UWS 6 & 7 going to be marked against 106th street - at least for reference - even for people who won't live that high up?

Don't follow the hood at all, but is 1k per f2 for this "type" of apt a new low for the move?

>>Oh, I'll mention one - in fact I'll even show it to you -<<

Yep, 30% down from original ask. Not crazy about the building though, and location's not great but still... pretty incredible reduction and definitely interesting indicator of where the market may be headed.

I think it's 37% down . . . can someone check my math here? Squid if I wrong I apologize in advance. patient09 - it is VERY low for this condition & other attributes of this apartment (river views, great kitchen, I think I remember good baths). There might be other stuff for 1K a foot - specifically think of my old chestnut 161 west 86th (3100 square feet asking $3mn) - but that needed another million to take it to the condition of this apartment.

lp, nship: nice, so it should be a good bellweather for this neck of the woods. interested to watch how it travels.

that layout is amazing. wow.

It looks like a 2003-2004 price, maybe even earlier. Nan's prediction that it trades at or above the new ask seems pretty reasonable, with one important qualification. The main reason this neighborhood got so hot was a shortage of inventory thirty blocks south. If classic eights on 75th and West End get to $2.5MM, there won't be a market for this apartment at $2MM, no matter how nice it is. So I think Halstead is doing the right thing here: cutting deeply and going for a quick sale by recreating the huge spread that existed five years ago between the 80s and the 100s. But if the strategy doesn't work quickly, it probably won't work at all. The spread will narrow again, and this listing will lose its edge.

i don't think its about the reduction. not in the market for something like this, but i can see potential buyers actually being scared by that large a drop. agree with w81---location, etc.

columbiacounty: Have you experienced that happening? Maybe a few years ago, but I'd be somewhat surprised if buyers were scared by large price drops in this market. I'd expect most buyers are in fact holding out for these drops, and I'd assume most view them as simply either the seller being aggressive (i.e., trying to get ahead of the market), of initial mispricing, or of stale pricing. This apartment looks like good value right now...it will be interesting to see what we're saying in the next 3 months.

315 West 106th looks like a nice apartment with a good layout, and the views are great. That said, here's something I came upon that I'd take instead if given the choice:

http://www.streeteasy.com/nyc/sale/167360-coop-300-east-54th-street-sutton-place-new-york

Pretty sure it's meaningfully bigger, in a location I'd consider much better, with two balconies. Might need a bit of work but not much, I don't think. And the layout is a bit funky, but creates lots of options for a family. Seems like a much better deal to me. What am I missing?

you consider 54th street and 1st avenue "much better" than 106 and bway? taste is taste and you are welcome to yours, but that is certainly not a generally-accepted position. you've picked a cobbled-together postwar in a non-residential, very non-family area of midtown near the entrance to a bridge--if that's your thing then you should go for it. but i don't consider it a better deal at all.

in a different price bracket:

http://www.streeteasy.com/nyc/sale/333265-coop-108-west-87th-street-upper-west-side-new-york

cute brownstone 1 bedroom on 87th off columbus asking 399k.