(Photo: Courtesy of Prudential Douglas Elliman)

39 EAST 20TH STREET, APARTMENT 5

The Facts: Two-bedroom, two-bath 1,963-square-foot condo loft.
Charges and Taxes: $1,845 per month.
Agent: Jacky Teplitzky, Prudential Douglas Elliman.

(Photo: Courtesy of Prudential Douglas Elliman)

Space, light, location: This Flatiron loft—the real thing, not a facsimile like all the new condos around it—has it all. Yet it’s been on the market for more than a year, with three price cuts. Our experts puzzle it out.

Dicksé Fitzgerald, the Corcoran Group: Fitzgerald was keen on the keyed elevator, the exposed brick, and the “wall of windows” facing the front. But with “thirteen developments in the area” and, specifically, a glut of two-bedroom condos, “that’s a lot of competition,” she notes.
Her assessment: $2.1 million.

Jodi Cowen, JC DeNiro & Associates: “I love the built-ins—you can never have enough storage,” says Cowen, who also liked that the apartment is live-work and full-floor: “How much more private can you get?” She recommends new countertops and cabinets to match the top-shelf appliances (Wolf, Sub-Zero).
Her assessment: $2.15 million.

Jeff Silverstein, Century 21 NY Metro: Silverstein noted that the ceiling height (ten feet) is outstanding, and praised the long, narrow layout: “You could have a party in the kitchen and another in the living room and someone sleeping in the bedroom on the other end.” On the downside, “the kitchen’s a bit dated” and “the second bedroom has a small closet.” Nonetheless, he says, “you’re in a great neighborhood, right in the heart of everything.”
His assessment: $2.3 million.

And the actual asking price is: $2.299 million.

Related:

• Archive: “Real Estate”
• Articles by S.Jhoanna Robledo
• Table of Contents: May 26, 2008 issue of New York | Subscribe!