Gorgeous properties priced well can linger on the market forever, and there’s little for a seller to do but offer a bargain instead of fair market value in order to attract offers.
Such is the issue with apartments that can tempt only a fraction of the potential market. They have characteristics that cannot be changed or at least changed for a reasonable amount of money.
They await the buyer who has the same preferences as the seller, and they are few and far between.
Manhattan co-ops and condos that have, say, unusual flooring, nearly immutable layouts imposed by the owners or features rarely found have their appeal — but only to a very small segment of the market.
I’ve touched on this subject before, but I was reminded of the issue in the 70s between Columbus and Amsterdam avenues on Sunday when I viewed the nearly $3 million triplex pictured above that had a dizzying array of staircases . I’ll go into details in a few weeks.
The same concern arose when I entered a lovely 1,800-sf corner apartment on West End Avenue in the low 70s a few weeks ago. The aesthetic is described as “downtown loft.” Continue reading