West End Avenue | NYC Co-op Apartment Sales
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Category — West End Avenue

Estate Sale Broker’s Commish Drops: Huge UWS Co-op Sells For 27% Less Than Ask

A 2,500 square foot 8 room co-op apartment at 277 West End Avenue on the Upper West Side just sold for $2.2 million, a huge drop from the original $3 million list price.

Buchbinder Warren associate broker Anne Abbott had this estate sale listing. Her commission must have taken a nosedive from the $90,000 (using a 3% commission rate) that she would have split on a fifty-fifty basis with her office if the co-op sold for it’s original $3,000,000 list price That would have mean a cool $45,000 commish for Abbot.
277 West End Avenue - Floor Plan for Apt. 12MC
Instead, the apartment ultimately sold for 26.67% less than the ask, dropping a whopping $800,000 to close at $2,200,000. If the buyer’s and seller’s brokers split a 6% commission on the sale, it would mean that each side’s take dropped to $66,000. The broker’s split would have been $33,000.

Although it’s a huge apartment in a pet-friendly building down the street from Fairway, close to Zabar’s, and a 30-second walk to Riverside Park, the unit’s drawback was that it had a view of the self-managed Schwab House, the monstrous block-long co-op just across the street.
Living Room - 277 West End Avenue, Apt. 12CM
The apartment was old, but appears to have good bones. The current bedroom layout could potentially be converted into four.
Bedroom - 277 West End Avenue

Maintenance on the unit was very hefty: $2,836.92 per month, 50% of which is tax-deductible.. The co-op board allows up to $75% financing.

Likely renovations include modernizing a severely outdated kitchen, and trying to get permission from the co-op to have a washer-dryer combo in the apartment.

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September 7, 2008   1 Comment

Classic 6 Co-op on the Upper West Side Sells for $1.473M

A 1,600 square foot Classic 6 co-op apartment at 755 West End Avenue for $1,472,500, just $22,500 under the asking price.

Journalist Dana Roberson Johnson and banker Joseph Johnson, 3d sold their family-sized cooperative apartment to lawyers Michael Treisman and Mariya Treisman

This incredible, remodeled Upper West Side co-op boasts style and warmth, but perhaps even more important is the incredibly low maintenance of just $1,105 per month.
775 West End Avenue, Apt. 1B - Floor Plan
The sellers’ Manhattan real estate brokers at Corcoran included Jennifer Taylor, Deanna Kory, and Karen Kelley.
Kitchen, 775 West End Avenue
This is a pet friendly co-op with communal laundry facilities. It’s located between West 96th and 97th Streets. The apartment faces North and East.
Living Room - 775 West End Avenue, Apt. 1B

Photo credit: Corcoran

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September 7, 2008   No Comments