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
lol, sorry but I am in the 11217 cheerleading camp with this topic. He makes a lot of good point and sorry but economics of supply/demand are on his side.
Having said that, Ty has some pretty strong argument and that’s more of a moral value of money rather then real estate and salary talk. Ty, this goes back to your point how a Basketball star makes more than say a local hero who saved lives. That’s a whole nother point you’re trying to argue here. It’s not a philosopher’s blog on here, even though we make it one from time to time.
Also, funny that obviously the renters wouldn’t want neighborhood to change because they wouldn’t want to get priced out BUT if they were apt/house owners, they would sing a different tune to see their neighborhood change and their investment skyrocket at the same time keeping a roof on their heads. Same old tune, every single time.
Sorry can’t stick around, back to work to analyzing consumer products.
quote:
Boston median home price: $390,000.
Washington DC median home price: $388,490
Seattle median home price: $371,500.
having a college degree and living in a cardboard box under the brooklyn bridge: Priceless
*rob*
Snappy, I’m sure they have a limit but sales activity NOW indicate they havent reached it. Just like the Yanks, they have a limit. folks thought it was 150M/yr, 200M/yr, 225M/yr,… well, they might reach 250M next yr. So my point is there’s clearly enough richie rich folks at this point who find these high prices have not hit their limit.
I dont like it (as I’m an avg joe vs a richie rich) but it is what it is current and I dont LIE to myself about it.
“Oh, Look! 11217 provided a list of other expensive cities! Wait, did I predict that? Jaysus H. Christmas. ”
I’ve now listed LA, San Fran, Boston, DC, Seattle, Portland….6 of the most desirable cities in our country.
And yes, they are all what you consider expensive and NYC isn’t even the most expensive on the list…SF is.
“The following sectors are declining:
-the working class
-the middle class in the non-financial sectors (i.e. not the upper middle class, but guys like a Con Ed technician).”
Benson, you should move to Canada. Almost the entire population is considered middle class there. Socialism at it’s finest.
quote:
Since 2000, the number of children under age 5 living in Manhattan has grown by more than 40%.
actually this is what scares me the most. the worst part is those kids are gonna grow up saying they were born in nyc. :-/
*rob*
Boston median home price: $390,000.
Washington DC median home price: $388,490
Seattle median home price: $371,500.
“tears of vegan angels” is beyond genius btw!
To tybur’s point about other markets not being as ‘unsustainable’ / inflated as NYC:
Ironically, that may be what is inflating NYC. Interest rates are set nationally, taking into account the needs of Buffalo, Cleveland, Detroit and so on. This level may be too low for e.g. NYC, Texas et al with strong local economies.
Coupled with lack of supply in NYC, SF, LA = asset price inflation.