Triple Assessment

The Facts: A one-bedroom, one-and-a-half-bath, 850-square-foot co-op.
Maintenance: $1,396.45 per month.
Agent: Amy Arpadi, the Corcoran Group.

This building is a rare modern structure on Central Park West, where small apartments facing the park aren’t abundant, say our panelists. Perhaps that’s why they found this property tricky to price.

Katie Rosenberg, Warburg Realty: “The park view is worth a lot of money.” How much? “It’s hard to gauge, but I’d put it at $250,000 to $500,000,” says Rosenberg, who also praised the “solid” feel of the building. “It’s not a regular one-bedroom you can find anywhere.”
Her assessment: $1.4 million.

Sabrina Kleier Morgenstern, Gumley Haft Kleier: The proximity of 15 CPW gives this building more cachet than ever, notes Kleier Morgenstern. But the space needs some work, she points out, and “you’re always better off pricing on the conservative side, because a listing becomes stale if it stays on the market too long.”
Her assessment: $1.35 million.

Alan Nickman, Bellmarc Realty: Nickman liked that the building has “a proper foyer,” but the apartment “is going to need updating, so [buyers] will take that into account. [Still], to be able to buy a one-bedroom with a balcony and a view, they’ll get over the need to renovate.”
His assessment: $1.395 million.

And the actual asking price is … $1.449 million.

Triple Assessment