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Residential Deals

06/01/2011, By

Residential deals

June 01, 2011 07:00AM


$2.37 million alternate

133 West 22nd Street

2-bedroom, 2-bathroom, 1,336 sf condo in a new elevator building; 24-hour doorman; unit has northern exposure and a 400-square-foot terrace; building has roof deck and health club with outdoor pool; common charges $1,213 per month; taxes $313 per month; asking price $2.45 million; 35 weeks on the market. (Broker: Jessica Levine, Prudential Douglas Elliman)

"I sold this unit to the seller for about $2 million back in 2008, when it was pre-construction, and this was one of the first resales in the building, so it sold at a very high price ??" it was a per-square-foot building record. People loved this apartment. It probably had more TVs than rooms, and all of the electronics stayed. It had an outdoor TV, a TV in the bathroom, a projector in the living room. And the seller was the only one in the building who put a fireplace in. Depending on how you value the outdoor space, it's also a near-record price per square foot for Chelsea."

--Jessica Levine, Prudential Douglas Elliman

Midtown West

$345,000 alternate

520 West 50th Street

1-bedroom, 1-bathroom, 500 sf co-op in a prewar walk-up building; unit has hardwood floors, renovated kitchen with new appliances and updated bathroom; building has renovated lobby and hallway; maintenance $811 per month, 47 percent tax-deductible; asking price $349,000; 30 weeks on the market. (Brokers: Jesse Buckler, Bond New York; Stephen Spence, Fenwick Keats Goodstein)

"When my buyer first started looking, he was coming from a luxury rental building and absolutely did not want to settle for a building without a doorman or elevator. First, I got him to realize that in his price range he was definitely not going to end up with a doorman, and finally I got him to consider walk-ups. We made an offer on a second-floor walk-up, but he came in too low. When we saw this unit, he walked in and said, 'This is it.' We put in an offer that day and it was accepted within three days. It was one of the fastest decisions I've seen in a while, especially since this was a fourth-floor walk-up. Those are not the easiest to sell."

--Jesse Buckler, Bond New York

Upper East Side


509 East 88th Street

1-bedroom, 1-bathroom, 450 sf co-op in a low-rise walk-up building; unit has windowed kitchen and hardwood floors; building has storage facilities and laundry; maintenance $849 per month, 49 percent tax-deductible; asking price $263,000; 28 weeks on the market. (Brokers: Paul Macapagal and Fabrizio Uberti Bona, MNS)

"This property was actually listed by another broker first for six months, and when it didn't sell, the owner put it on the market himself for about three months at $299,000 before I took over the listing and suggested a price correction. After that, there was a lot of activity in terms of direct buyers and open-house traffic. We got a total of three offers on the property, and the interesting thing is that the offer we accepted actually came from the niece of someone who used to live in the building and now lives next door. I had sent out postcards to the area and this woman told her niece about it. They made an offer the first day they saw it. There was very little negotiating. They came at us with $255,000, and we increased it by $2,000 to close the deal."

--Paul Macapagal, MNS


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