New York MagazineS. Jhoanna Robledo
Sept. 5, 2005
This studio in Lincoln Towers, a cluster of buildings put up in the sixties, was deliberately priced to sell quickly, says listing broker Frances Rickard. But was it too low? Let our panel decide...
142 West End Avenue, Apartment 6R
550-square-foot co-op alcove studio with one bath.
Asking Price: $360,000.
Maintenance: $658.73 (includes gas and electric).
Brokers: Frances Rickard and Sean O’Donnell, Century 21 William B. May.
Photo Courtesy of William B. May
Jon Charnas, Fox Residential:
The studios at Lincoln Towers, says Charnas, are roomier than most, boosting the price. His main complaint: “The kitchen needs a redo, [but] it’s pretty large for a studio.”
His assessment: $375,000.
Kris Kruse, Halstead:
The alcove helps a lot, Kruse points out immediately. “You can define a separate area for a bedroom,” she says. But the typical young buyer for such an apartment may not pass muster: “This is a tough board,” explains Kruse. “They like to see eighteen months of a prudent reserve and 30 percent down.”
Her assessment: $350,000.
Jeff Glovsky, Nest Seekers International:
The open southern views and separate kitchen impressed Glovsky, as did the storage: “How many studios do you see with large walk-in closets?” But the “institutional” windows turned him off, as did the apartment’s condition. “There’s a lot of work that needs to be done.”
His assessment: $400,000.