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Same Space, Different Place

What’s a year worth to you?


From left to right: 322 West 57th St. Apartment 30B2; 322 West 57th St. Apartment 45M1  

These two condos are both on high floors of a new conversion, with nearly the same square footage. Apartment 30B2 looks west toward the Hudson, whereas 45M1 has views of Central Park. But does that—and an extra half bath—account for a $330,000 price difference? Hardly. No, the discount is for patience. The listing broker for 30B2, Astrid Pillay of Halstead Property, says the unit’s definitely available for sale—but not for move-in. A tenant is living there, with a lease that pays $84,000 in rent per year to the (current or future) owner, and is expected to stay until May 2010. If you can’t wait and have an extra third of a million dollars ready to go, 45M1 is ready for a new owner immediately.

322 WEST 57TH STREET, APARTMENT 30B2
The Facts: Two-bedroom, two-bath, 1,342-square-foot condo.
Asking Price: $2.395 million.
Charges and Taxes: $2,285.11 per month.
Agent: Astrid Pillay, Halstead Property.

322 WEST 57TH STREET, APARTMENT 45M1
The Facts: Two-bedroom, two-and-a-half bath, 1,355-square-foot condo.
Asking Price: $2.725 million.
Maintenance: $2,175 per month.
Agent: Dorothy Somekh, Halstead Property.


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