Co-op of the Day: 115 Willow Street, #6A
This four-bedroom co-op at 115 Willow Street has had a tough time of it on the market despite its prewar vibe, great location and river views. The sixth-floor apartment originally hit the market with Brown Harris Stevens in October 2008 with an aggressive price of $2,500,000; it was ultimately taken off the market in August…
This four-bedroom co-op at 115 Willow Street has had a tough time of it on the market despite its prewar vibe, great location and river views. The sixth-floor apartment originally hit the market with Brown Harris Stevens in October 2008 with an aggressive price of $2,500,000; it was ultimately taken off the market in August 2009 after having failed to sell despite the price having fallen to $1,750,000. It reappeared with Douglas Elliman in April of this year, starting out at $1,995,000. Three price cuts later, it’s now priced at $1,695,000. Frankly, we can’t see what the problem is: These family-sized apartments are hard to come by in The Heights and this price is within reach for some young Wall Street buck with a growing brood. Has anyone toured this place? What’s the snag?
115 Willow Street, #6A [Douglas Elliman] GMAP P*Shark
Small rooms, except for the kitchen and dining room. And are those awful vinyl replacement windows?
Only a part-time doorman; you’d expect full-time for the price of the maintenance.
The place has less charm than you’d expect.
issue may be co-op board requirements, may be tough seller
It’s on the 6th floor and the buildings across the street aren’t quite a high as this one so you’d have some views of lower Manhattan. You obviously wouldn’t have the type of views those who directly face the promenade do.
no central air, and sure about the views? Don’t see them in the photo.
Right, everybody knows bucks don’t take care of their young. Mr. B has watched Bambi too many times.
Anywway, the more I look at this place, the less I like it. It’s big, but not fancy. The layout is OK, but not special in any, the finishes are boring. PT doorman, not full service, average apartment and huge maintenance, is not desirable at all.
The NYT times reports jumbo rates are 5.44%, so negotiate the price to $1.6M, add the maintenance, and your monthly nut is over $9,000. I’d rather rent, at least I can move.
quote:
some young Wall Street buck with a growing brood
that is perhaps the grossest thing i have EVER heard
*rob*
Price was the snag. Price is always the snag.
You can get an special/elegant 4-bedroom in the heights for $2mm and a hefty maintenance (I’ll take this one: http://www.kevincarberry.com/2010/04/26/opportunity-with-views-space-and-light/) … and this is not a special or elegant apartment.
But at this price, it may be getting close. I can see it selling for 1.35-1.45. It is a lot of space and the location is great.
Might have something to do with the $3000 a month maintenance and the kind of strange layout. Even if one puts down 50%, the monthly nut is probably around $8,000. Even on Wall Street that’s only in the reach comfortably of a subset of bankers/traders.
Maybe that: monthly maintenance: $2,954. Three kids, three private school tuitions, subway to work, I get depressed just to think about being weighed down so much.