Real Estate

Transparent Motives

Left: 345 East 73rd Street, Apartment 1D; Right: 345 East 73rd Street, Apartment 9A

Same Space, Different Place
What Price Flexibility?
These two similar co-ops are separated by $50,000—nearly 10 percent. One’s on the ground floor, one’s higher up—but Unit 1D just underwent a spiffy renovation, and today’s buyers are more accepting of ground-floor space than before, meaning those factors probably cancel out. So what’s the difference? Apartment 9A’s owner has walled off the dining alcove, creating a small second bedroom. (That’s why they call apartments like this “convertible twos.”) Broker Jennifer Wilson reports that it has, in fact, attracted a steady traffic of expectant couples. Given that the birthrate among upscale New Yorkers shows no signs of abating, apartments like this are likely to carry a premium in the long run, too.

345 East 73rd Street, Apartment 1D
The Facts: One-bedroom, one-bath, 850-square-foot co-op.
Asking Price: $599,000.
Maintenance: $986 per month.
Broker: Jennifer Wilson, Bellmarc.

345 East 73rd Street, Apartment 9A
The Facts: One-bedroom, one-bath, 870-square-foot co-op.
Asking Price: $649,000.
Maintenance: $1,080 per month.
Broker: Jennifer Wilson, Bellmarc.