Out and About: What is a triplex?

You decide: Is this a triplex?

It troubled me the last time this unit went on the market, nearly two years ago.  And it bothered me when I saw it again a few weeks ago.

The co-op was listed for $660,000 in October and now is at $589,000, after three reductions, with maintenance of $1,022.  In an 1886 brownstone in a low 80s Central Park block, it is said to contain one bedroom and one and a half baths.

There are exposed brick walls, a wood-burning fireplace, a spiral staircase and three windows described as “grand.”  (They are, actually.) Continue reading

The Big Apple: Prices double over 10 years. More!

10-YEAR REPORT DEMONSTRATES REBOUNDING MARKET FROM 2009 TO 2010

The 2010 Manhattan real estate market shows marked improvement from the doldrums of 2009, with prices twice as high as a decade ago, according to 10-year apartment and townhouse market reports.

The median sales price of Manhattan co-ops and condominiums in 2010 was Continue reading

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

Meet another broker whose name I won’t provide

Fordham University

The apartment: A two-bedroom co-op on a high floor overlooking Fordham University and Lincoln Center with wonderful views toward the Hudson.

The price: Nearly $2 million.

The problem: An aggressive and reckless broker who doesn’t know how to shut up.  (I didn’t catch his name and don’t know whether he was covering the open house for the listing broker or was that individual himself.)

It wasn’t so much that this broker–call him Dick–insisted on a hard sell as he pursued us throughout the unit, though that was pretty offensive.  It was that he made a promise for which he could be sued. Continue reading