Example of an air conditioning unit that would be installed on a rooftop.
The following headline in the New York Post caught my eye:
Manhattan couple says hulking Duane Reade air conditioner blows away their view
According to the newspaper, they own a $3 million duplex on East 86th Street next to Duane Reade. Lo and behold, the store is planning to construct a huge eight-foot-high air conditioning unit on its roof.
Uh oh, there goes any view (from the second and third floors) and down goes the Upper East Side co-op’s value.
We arrive at the Upper East Side building around 3:30 p.m., 10 or 15 minutes early for our showing appointment, and the concierge calls up to the agent.
He descends soon thereafter, and the first words out of his mouth are that we were expected 15 minutes earlier. The buyers I am representing and I introduce ourselves. The broker — call him “Sam” — does not.
I note that we changed the appointment from 3:15 to 3:45 in a series of e-mails trying to fix a mutually convenient time and apologize for any misunderstanding.
Built in 1910, this low-rise has 20 apartments on five floors — and no elevator — but represents value for a hardy soul.
They exist, those apartments for buyers on a tight budget.
It will not surprise them that low prices inevitably mean compromise, usually serious tradeoffs for homeownership in Manhattan.
Among the issues they can more or less count on are lack of light, excess of stairs, cramped quarters, dismal condition, inconvenient location, noisy streets or neighbors, grim public spaces, minimal amenities such as doorman or live-in super, or persistent visits by creatures parading on more than two legs. Continue reading →
The little garden is lovely, the apartment at the top of fire escape not so.
Getting to the one-bedroom co-op on the Upper East Side means negotiating a passageway in an early 20th century building facing the street and entering a sweet little garden. At the far side stands a three-story white clapboard house dating to the mid-19th Century.
There the charm ends.
The apartment is a one-bedroom unit up two flights of stairs with ceilings so low that I had to fight the urge to hunch over — and no one would mistake me for tall.
To many consumers, ceiling height is everything. Many prospective buyers won’t even look at apartments that don’t exceed the legal minimum. To quote the New York City Administrative Code, Continue reading →
Update (11:22 a.m.): Auction will not take place as scheduled.
A co-op in a prestigious Fifth Avenue building on the Upper East Side is to be sold in a foreclosure auction scheduled for Thursday.
Rare for such an apartment, the sale appears to have resulted from the death of one Rita Haberman, about whom I could find no reliable information. (Update: More about Haberman and her estate here.)
At 1016 Fifth Avenue, on the southwest corner of 83rd Street and across from the Metropolitan Museum of Art, Unit 8D likely has a value of more than $3 million.
By comparison, Unit 10D provides 541 shares and 8D, 510. The higher co-op is listed as a seven-room, 2,200-sf apartment with two bedrooms and one and a half baths, though I see more on its floorplan below. It is on the market for Continue reading →