Co-op of the Day: 47 Plaza Street West, #11B
This new listing at 47 Plaza Street West isn’t quite as huge or swanky as its 11th-floor neighbor (which appears to have sold very recently) but the two-bedroom, two-bath co-op is impressive nonetheless. The apartment has all the prewar touches that you’d expect from a Candela building. Probably the only nit we can come up…
This new listing at 47 Plaza Street West isn’t quite as huge or swanky as its 11th-floor neighbor (which appears to have sold very recently) but the two-bedroom, two-bath co-op is impressive nonetheless. The apartment has all the prewar touches that you’d expect from a Candela building. Probably the only nit we can come up with is that the second bedroom is on the small side (though you could close off the dining room and solve that problem). At $1,768, the maintenance isn’t low, but then again it’s a full-service building. The asking price is an even $1,000,000. Think it’ll fly? (Note: We’re removing the Pricing Widget until we can get a more sophisticated version built with predictive measures other than the average price, which 99 out of a 100 times dramatically understates the ultimate sales price.)
47 Plaza Street West [Corcoran] GMAP P*Shark
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Really? beause last I saw NYC’s population was increasing.
yes, but NOT with the kinds of people who can sustain a healthy economy. tybur is spot on with all his statements. the only people really moving into nyc are 22 year old college graduates with useless degrees who will work for peanuts and fauxrban oldbies who are moving back to the city once they are done raising kids because they too, have been fed the koolaid! neither of those groups of people contribute ANYTHING to the health of the economy. oh wait, perhaps they keep lame ass overpriced organic fruit markets and pretentious lobster roll trucks afloat. :-/ but that does not a healthy economy make! it’s all fluff.
*rob*
Why do people use “higher” salaries in NYC as a reason? The pay isn’t THAT much higher once you start factoring in tax burdens.
I’m not crazy about this layout either, and despite the 2 full baths, high floor views and full service building (the last of which, frankly, I can do without), I think it is pretty steep, especially given the maintenance. How does it compare to this, for example: http://www.brownharrisstevens.com/detail.aspx?id=1121952
typed that before I saw 11217’s posts re population!
Yes tybur, I understand how inflation works.
Money is cheap right now. Anyone arguing that we are in a bubble can’t ignore that. I would think that future interest rate rises would have to be the cornerstone of an argument that the bubble will burst.
Not sure I buy the argument that NYC is suffering relative to other parts of the country economically because of its higher expenses. It could happen one day, just don’t think it is yet. If it were, NYC would be losing population rather than flat to up. State taxes are a massive problem for competitiveness in NYS as a whole, though.
NYC population
2000 8,008,288 9.4%
2008* 8,363,710 4.4%
Please explain your theory to me Ty about how fewer people want to pay the “NYC premium”
The NYC feedback loop is called….people actually want to move to NYC, whereas 90% of America’s cities are losing population.
whether 3M, 4M, 5M, 18k rent,…. are sustainable or not, that’s a different debate than does these prices make sense from the eyes of the avg joe/jane. 11217 is correct in that we are talking about the premo expensive hoods where deep deep pockets roam. we aint talking about our avg joe/jane co-workers or their supervisors,.. we’re probably about their boss’ boss’s boss. if you’re making 75k, we’re talking about the dude in your company making 350k+ whose spouse is making another 250k+.
I think these prices are high but I’m saying that as if I’m that person/couple making the big $$$ but not massive out of this world $$$ (& definitively not the 100k or less peanuts)
Brooklyn population
2000 2,465,326 7.2% growth
2009 est 2,567,098 4.1% growth
Ty, can you tell me what in the above numbers tells you that during this massive housing bubble, people have decided they don’t want to pay the “NYC premium”??
And I’m thick?