Out and About: Rooms without any views

View from the living room of an otherwise appealing apartment.

As everyone knows, apartments with some combination of open views, sunny exposures and skyline vistas can command premium prices.

But many buyers who begin their search demanding lots of light–as most buyers will maintain–don’t often appreciate how much less they can spend for a place that has minimal light and bleak or offputting exposures. Light and soothing aesthetics  are the inevitable trade-off for value, though a grim exterior can be a heavy price to pay.

A great example of this phenomenon is the possibly 650-700-sf co-op with the view from the living room shown above.

The unit in a 1951 building with garage on Riverside Drive in the low 100s has been beautifully renovated–new pass-through kitchen, lovely hardwood flooring, good closet space and higher-than-average ceilings. But don’t even think Continue reading

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Weekly roundup of news you don’t want to miss

Here’s your chance to catch up with news included to inform, enlighten and perhaps even entertain you. To read about The Big Apple, check out another of today’s three posts.

FASHION LUMINARY BUYS A NICE LITTLE CONDO FOR HIS SON AND FRIENDS

BOUNCY BABE AND BARE-ALL BEAU BUY BIG APPLE BASE

THIS WAS ONE ANTIQUE THAT COULDN’T BE PRICED ON ANY ROAD BUT CPW

THIRD TIME’S THE CHARM FOR THIS WINNING COMPOSER

‘JUNIOR’ STAR CRIES ‘UNCLE’ IN RELISTING HIS CO-OP

MOVING TO THE SUBURBS FROM AN UWS TOWNHOUSE NOW STRIKES CHORD WITH MUSICIAN



MISMANAGEMENT OF FORECLOSURE DOCUMENTS COULD AID REAL ESTATE RECOVERY

PACE OF PRICE INCREASES EASED FOR SINGLE-FAMILY HOMES IN JULY, CASE-SHILLER REPORTS
(3 links)

30-YEAR RATE TIES LOW AS 15-YEAR SETS RECORD Continue reading

The Big Apple: Q3 reports suggest stabilization

PRICES ARE UP AND SALES ACTIVITY IS DOWN IN THIRD QUARTER

After two years of unpredictable sales trends, the Manhattan real estate market seems to have settled into a more typical and seasonal pattern, with prices rising slightly and sales volume dipping in the recent summer months, according to third-quarter market reports, says the New York Times.

Prices increased for the fifth straight quarter, with the average sales price hovering around $1.43 million and the median price around $910,000, according to data provided by the city’s four largest brokerage firms. But prices are still well below the market’s height a couple of years ago, when the average was higher than $1.7 million and the median was close to $1 million.

Inventory has declined, reports the Real Deal, and the Wall Street Journal says Manhattan is a star in the apartment market.

But my post (below) on Wednesday questions whether September has evolved into a healthier market.

FIVE NEW YORK NEIGHBORHOODS ARE AMONG NATION’S MOST COSTLY

The West Village’s 10014 Continue reading