Many sellers seem to be misreading the market.
That was my thought this past weekend as I toured open houses on the Upper West Side. I was struck by the magnitude of the chasm between what sellers were asking for their apartments, whether large and rambling or small and musty, and my take on Manhattan’s housing market today.
Perhaps the most glaring example was a condo in the very low 70s. In a notable 1926 doorman building between Broadway and Columbus Avenue, the overstuffed duplex has some impressive features, such as a living/dining space that has a 16-foot-high ceiling, lovely wide-plank flooring said to have cost $90,000 and stylish baths. Continue reading