The Real Deal New York

Residential deals

February 02, 2015
By Brendan O'Connor

MurrayHill

111 East 30th Street, #12AB

Murray Hill
$2.2 million
111 East 30th Street, #12AB

Four-bedroom, three-and-a-half bathroom, 1,668-square-foot condo in the Pierpont. Features a south-facing private balcony, exposures from the north, south and east, and fully renovated kitchen. Building amenities include a 24-hour doorman, courtyard, and rooftop deck. Common charges: $2,014 per month. Taxes: $1,909 per month. Asking price: $2.55 million. 16 weeks on the market. (Brokers: Morgan Turkewitz, Citi Habitats; Frances Langbecker, Douglas Elliman.)

“I had previously rented out the apartment for the owner. It was tenant-occupied when we started showing it, which made things a little bit difficult. But we listed it when we did because we were right at the height of the market. The tenant was home often … and there were boxes stacked on boxes stacked on furniture when people were coming by to look at the apartment. It was hard for them to imagine themselves in the space. That lasted for about a month. After the tenant moved out, someone came in and staged it. It looked like a completely different apartment. Activity really picked up, and two months later we closed the deal. The buyers were a young couple with a child. They just saw a place to raise a family and grow in. It’s a unique apartment — not everyone is looking for a four-bedroom. We didn’t have 20 people at every open house. But it has great potential. Actually, we got the highest price per square foot in the building.” Morgan Turkewitz, Citi Habitats

4C

171 West 71st Street, #4C

Upper West Side
$1.46 million
171 West 71st Street, #4C

Two-bedroom, one-and-a-half bathroom, 1,375-square-foot co-op in the Dorilton, a prewar Beaux-Arts building. Features newly renovated kitchen, double French doors opening onto a formal dining room and period moldings with gold leafing. Maintenance: $2,854. (46 percent deductible). 32 weeks on the market. Listing price: $1.45 million. (Brokers: Leslie Lazarus and Brian Wagner, DJK Residential; Chun Wong, Law Office of Chun W. Wong)

“This apartment had been on the market with another firm for several months. We relisted it, and after a few small reductions in price it was featured in the New York Times’ Home of the Week. After that we received numerous offers over ask. The buyers had seen it in the Times. They were starting a family, looking for a place on the Upper West Side. The apartment itself is a little bit unusual — somewhat like a lavish bachelor pad. It’s a one-bedroom with a small room for a nursery. The owner had just lost her husband to a sudden death, so this was more than a transaction — [it was a] heartfelt transition. And the seller was really happy to sell to a family.” Leslie Lazarus, DJK Residential

711

243 West End Avenue, #711

Upper West Side
$335,000
243 West End Avenue, #711

One-bathroom, 325-square-foot studio apartment in a prewar co-op. Features high ceilings, hardwood floors and a walk-in closet. Maintenance: $768 (43 percent deductible). Asking price: $335,000. 4 weeks on the market. (Brokers: Sheryl Berger and Beth Littman, Argo Residential; Douglas Keisler, Flat Finders.)

“The couple [who bought the unit] came to one of my other open houses. We had just put #711 on the market a few days before. I told them about this and that I would [show it to them] after the open house. They were buying for their son. They liked that it was a sponsor sale — no board package was needed, they didn’t even need board approval. And they had cash. The apartment was move-in ready and time was of the essence. Their son had to move out of his apartment on the 31st, but he was living in Times Square and we had to close on the 30th because no trucks were allowed into Times Square on [the day of] New Year’s Eve. The sponsors’ attorney came back from vacation on the 29th [to get the deal done]. — Beth Littman, Argo Residential