Condo of the Day: 515 5th Avenue
When 515 5th Avenue hit the market in the spring of 2007, the initial sales were strong, with ten units going in the first six months. Three of the remaining five units sold over the next year, and by March 2009, it was down to one. Now one of the two-bedroom units on the fourth…
When 515 5th Avenue hit the market in the spring of 2007, the initial sales were strong, with ten units going in the first six months. Three of the remaining five units sold over the next year, and by March 2009, it was down to one. Now one of the two-bedroom units on the fourth floor is up for resale. It’s an attractive modern place with 976 square feet of space and and big wall of windows. When it sold in 2008, it went for $725,401. Now it’s back on the market for $765,000, which means the seller will be lucky to not to lose money after Brown Harris Stevens takes its cut.
515 5th Avenue [Brown Harris Stevens] GMAP P*Shark
BoerumHill, how on earth did you find that “guest” comment? Did you remember it from back then?
Comparing the comments of BV @ 3:39 pm TODAY with comments from guest FOUR YEARS AGO:
“By guest on December 3, 2007 10:41 PM
I have a question for the haters: have any of you ever actually had to sell quality design (be it ‘green’ or paying a few more dollars per sf for the facade) to a client?
I don’t think that there are any award winning architects on this blog commenting about how the building isn’t as green as THEY would have made it, or as contextually appropriate as THEY would have drawn it, or with as many #$% $#%$ closets as THEY would have put in it.
Stop complaining. If you don’t like the building, go get your architectural license and a design better building. Because you’re brilliant, every client will recognize your inherent brilliance and throw money at your design in the name of posterity and community.
Jerk.
Yes I’m talking to you. You know who you are.”
Awesome. Or if you prefer, Pure Awesomeness.
There is most definitely NOT central heat and air in that unit. I see through-wall a/c units in most of the pics.
Numerology. It’s scary how many people put credence in voodoo, psychics, astrology, and the like. It took my ex-wife two hours to order our first land line because she had to find enough 8s (lucky number for Chinese).
I’ll leave out religion; let the reader decide.
I always love seeing the comments of people on Brownstoner.
There are such haters out there – are any of you licensed appraisers? – have any of you ever set foot into this building ? have any of you done a comparative market analysis on this building or surrounding area ? Why make assumptions on things you know nothing about ? What constitutes are cardboard box ? Where do you live?
why do people pay these oddball prices, which was $725,401 here. was it to win a (real or perceived) bidding war by $1, or $401? or is it just some personal flair or lucky number BS? is there a real reason?
Streeteasy market data for this building says:
1 active sales listings: $783 per ft² (avg)
6 previous sales listings: $754 per ft² (avg)
15 recorded sales: $722 per ft² (avg)
So, if the past is any guide, then:
976sf x $722 = $704,672.
Don’t kid yourself, they aren’t breaking even. Sellers that overpaid for cardboard boxes like these at the height of the market and must sell will be taking losses.
they would be lucky to get 625