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Triple Assessment


Courtesy of Barak Realty  

305 WEST 86TH STREET, APARTMENT 4C
The Facts: One-bedroom, one-bath, 600-square-foot co-op.
Maintenance: $655 per month.
Agents: Catherine and Tom Holmes, Barak Realty.

Our panelists agree: This starter apartment on the Upper West Side needs little to no work. Though it’s on a low floor and has no view, they say its skillful renovation should fetch a decent price—but the definition of “decent” differs. A lot.

Eric F. Rath, Bellmarc Realty: “The building is wonderful and well-maintained.” It also allows for 80 percent financing—many co-ops require a bigger down payment—and guarantors, which, says Rath, all “contribute to the salability of the apartment.” He would’ve gone with a lower number, “but this is in such fine shape!”
His assessment: $725,000.

Toni Haber, Prudential Douglas Elliman: “It’s a beautiful one-bedroom that someone could bring [just] a toothbrush to. You don’t even need to paint,” she says, adding, “most of the square footage is usable. You don’t have a lot of hallways.”
Her assessment: $699,000.

John Gasdaska, Corcoran: “The living room is small [and] there’s no formal dining area,” says Gasdaska, who recently took a client through a one-bedroom in the building next door. “If [the competition’s] asking in the mid-$600,000s with a view and more space, I’d have to price this at the $500,000s.”
His assessment: $575,000.

And the actual asking price is: $589,000.


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