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05.28.08, 10:19 AM General Topics
21 replies
Speaking of real estate market, we are in Manhattan and the studio next door just came onto the market. We could definitely use more space, would you buy today? Also, how low could we offer if ask is 425K? [ Reply | Watch | Flag ]
General Topics 05.28.08, 10:19 AM Flag
 

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Buy it But it Buy it! Also, NY Mag ran an article a week or two ago about adjoining condos you mgith check it out. [ Reply | More
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General Topics 05.28.08, 10:20 AM Flag
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We literally just did this, and after six months of construction we are just about to move home. Be prepared. It is a bigger undertaking than you think... [ Reply | More
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General Topics 05.28.08, 10:21 AM Flag
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ita, erasing a kitchen is a pain in the ass [ Reply | More
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General Topics 05.28.08, 10:25 AM Flag
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Is it really? Can you give me a ballpark how much it was? Also, did you live there while it was going on? [ Reply | More
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General Topics 05.28.08, 10:31 AM Flag
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offer 10 percent less- that is the starting neg point- [ Reply | More
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General Topics 05.28.08, 10:21 AM Flag
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I don't know your market but that seems very low to me - that would be an offer of 380. I would say 400 and go to 410. Also, your Broker must do the offer anonymously. [ Reply | More
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General Topics 05.28.08, 10:22 AM Flag
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We live in Manhattan, and just put an offer in on a condo on the uws that was 777, and we offered 700. They came back at 740. [ Reply | More
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General Topics 05.28.08, 10:24 AM Flag
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are you going to sell at some point or stay there forever? sometimes it sucks to be the biggest/most expensive unit in the building. other than that, go for it [ Reply | More
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General Topics 05.28.08, 10:22 AM Flag
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I assume we will sell at some point (like when we retire and kids go to college) but not anytime soon. We'd definitely be the most expensive apartment in the building, but if we move to get the extra space it will cost us a lot more. [ Reply | More
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General Topics 05.28.08, 10:31 AM Flag
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you just have to keep that in mind when you go to sell...you'll likely take a little loss...and definitely know what the renovation will cost you. If you can complete as much of that as possible before yuo knock down those connecting walls, you can live there longer during the renovation [ Reply | More
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General Topics 05.28.08, 10:34 AM Flag
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Yes we are trying to get an architect to look at the combination options and get some quotes. I am sure it won't be cheap but still think we'd come ahead compared to moving. [ Reply | More
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General Topics 05.28.08, 10:38 AM Flag
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and you get the place done the way you want it. if you can afford it, go for it [ Reply | More
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General Topics 05.28.08, 10:40 AM Flag
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my friends wanted to do this but the added maintenance cost really killed the dream. [ Reply | More
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General Topics 05.28.08, 10:36 AM Flag
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was it double? [ Reply | More
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General Topics 05.28.08, 10:36 AM Flag
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there was no break for the two apt synergy. [ Reply | More
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General Topics 05.28.08, 10:39 AM Flag
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There will be added maintenance but not that much, as it is a small studio. [ Reply | More
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General Topics 05.28.08, 10:39 AM Flag
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How big is the studio? What neighborhood? What condition is it in? [ Reply | More
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General Topics 05.28.08, 10:36 AM Flag
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Not very big (maybe 350sft, 400 tops), UWS, estate condition. [ Reply | More
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General Topics 05.28.08, 10:39 AM Flag
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in that case, I think the studio is overpriced. I would tell them that you are interested, but you think the value is closer to $350k, max. Talk to a realtor about what an estate condition studio is worth per sq. ft. I would really be surprised if it is more than $1000. Once your neighbor's apt. sits on the market for a while, they will realize they way overpriced it. [ Reply | More
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General Topics 05.28.08, 11:51 AM Flag
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We did this and it was great. However, your neighbors know how much this could potentially mean to you so they might hold you hostage for $$$ [ Reply | More
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General Topics 05.28.08, 11:45 AM Flag
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How long did it take and how much did it cost? I don't think we'd be held hostage, they may think they can get asking price but the place is in a sorry shape so you have to gut it down no matter what, which is not so appealing if the studio is all there is. [ Reply | More
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General Topics 05.28.08, 11:51 AM Flag
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