[quote=SK in CV][quote=bearishgurl]My (armchair) experience with NY’s upper east side (spacious) flats/apts (co-ops?) was from the pages of Architectural Digest, lol. Its depicted “remodeled” apts appeared to be 2200 to 3600 sf (avg of abt 2500-2600 sf). The views from most of the windows were spectacular, as I recall.
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You may not realize it, but that kind of square footage is huge for anywhere in the city. 300 to 500 sq foot 1br or less apartments are more common, and even those sell for $700/sq foot and up. >2,000 sq foot is more often closer to $1,000/sq ft and up. And maintenance fees of over $1,000/mo. even in those smaller units are not uncommon. It really isn’t anything like the SD market.
I spent a few minutes looking and this one doesn’t seem atypical.
675 sq ft
$450K
Monthy fee: $1,013
Needs renovation[/quote]
SK, it is possible that since I was looking at NY apts featured in Architectural Digest that they are “flats” which were formerly two or more units (or take up a whole floor in a bldg, like the typical “flat” in SF). In that magazine, the NY apts featured were all heavily remodeled and redecorated professionally by their well-known affluent New Yorker and celebrity owners from all over the world … ALL very deep-pocketed and who didn’t live there or even move in until the work was completed to their liking. A couple of NY apts I remember seeing in there in the last year-plus were owned by Beyonce/Jay-Z and Anne Hathaway, as I recall.
Your listing link is undoubtedly much more representative of what a typical worker-bee who owns a residence on the upper east side would own and live in. And it is still very nice … nicer than a dtn SD condo in the same price range in that its hardwood floors and walls are original oak (or mahogany) and plaster. Maybe your listing is referring to a needed kitchen or bathroom remodel because it doesn’t show any pictures of those areas. From the photos, I don’t see where it needs extensive renovation as it says in the description.
The $64M question is, “Why are the (HOA?/Co-op?) monthly dues 100-150% higher in Manhattan than for a similarly-situated urban unit in SD?” I’m also wondering what is included in a typical owned NY apt’s monthly dues.
