Elliman OR Ebay? That is the question...
A: And things get weirder and weirder! If your looking for an East Village converted two bedroom, you can either call the broker at Elliman or place your bid on ebay! The choice is yours and I wonder what the reserve is? From silent sales & rental auctions to no reserve ebay auctions, I thought I have seen it all. But if there is one thing I know about Manhattan, it's that this city is never short of surprises!
MINIMUM BID OF $350,000 HERE ON EBAY....
OR, ASKING $425,000 AT ELLIMAN...
Only two days left for the auction and already there is a nice round bid; hmmm, I wonder if the seller placed that first bid just to get some action going.
But WAIT!! There's more.
Check out 438 W 49th street on EBAY HERE and on ELLIMAN HERE! This time the ebay starting bid is $40,000 lower than the brokerage webad.
Any takers on whether or not we see these listings in contract by this time next week? Might as well have fun with this. I can see the brain stormers pondering away the new Manhattan auction real estate brokerage site already. We can call it, e-hattan.com!
Posted by Fred
Tue Feb 10th, 2009 10:14 AM
interesting that the min bid is about $580 / SF. walk ups are heading south to 200 to 300 psf at best, but this is progress, right?
Posted by SAM
Tue Feb 10th, 2009 11:31 AM
So, this apt. should be priced at $120-$180k ?
I think you're delusional. Also, The maint. is dirt cheap..
Posted by SAM
Tue Feb 10th, 2009 11:31 AM
So, this apt. should be priced at $120-$180k ?
I think you're delusional. Also, The maint. is dirt cheap..
Posted by baileybee
Tue Feb 10th, 2009 11:48 AM
if it is 120 to 180k i'll be it today
Posted by baileybee
Tue Feb 10th, 2009 11:48 AM
if it is 120 to 180k i'll buy it today
Posted by Fred
Tue Feb 10th, 2009 12:45 PM
if it were 180k we wouldn't be having this conversation and furthermore, when you can buy a real 2 bed in a walk up for 400k, why on earth would you spend a penny more than 180k for a turn of the century closet in a mediocre part of town? i love how sticky owners WANT their real estate values to be when things are clearly heading down. there's a quiet rush for the exits underway, don't yell fire.....
Posted by Ed
Tue Feb 10th, 2009 01:10 PM
This is low-quality product in fringe neighborhoods. These places were trading for well under $200K before 2000, and they will be back down to that range sooner than you think.
Posted by Seller
Tue Feb 10th, 2009 01:55 PM
How did they calcualate 600 sq ft? If you look at the floor plan and do the math it's about 450 sq ft. I can understand brokers embellishing a little but why do most of them grossly exaggerate? How stupid do they think their clients are?
Posted by Eric
Tue Feb 10th, 2009 02:50 PM
Another question is why anyone would pay a broker anything to list a property on ebay.
Posted by Eastvillboy
Tue Feb 10th, 2009 02:52 PM
That's the SAME property I was debating with OT about a few threads back. That is FUNNY and STRANGE!!!
Posted by Eastvillboy
Tue Feb 10th, 2009 03:08 PM
Seller wrote:
"How did they calcualate 600 sq ft? If you look at the floor plan and do the math it's about 450 sq ft. I can understand brokers embellishing a little but why do most of them grossly exaggerate?"
You must be new in town. The "150 sq ft add-on" is S.O.P., especially below 14th Street. I started to think they measured the window ledges.
Posted by Seller
Tue Feb 10th, 2009 04:44 PM
It certainly seems to be the norm for the EV. But you're right- I guess shouldn't be amazed anymore that brokers try to lure buyers out to see a unit and expect them overlook the fact that it's 25% smaller than advertised, as if the majority of buyers in the 1BR market are indifferent about floor space.
Posted by jd
Tue Feb 10th, 2009 06:26 PM
Brian Meier -- very innovative.
He has used this strategy on many properties he sells. IN the uptrending market, he would ask buyers to submit best and final offers before a set date, and his assistant would advise you that the winning bid was likely to be at least x. Interestingly, x was achieved, and since you never saw the other bids it was curious how this worked.
Now, the innovation is ebay and a mysterious floor bid to facilitate the psychology of bidding.
Does ebay collect 2% for every closure. Oh, it doesnt go to closure because the buyer doesnt have to really follow through and can be forgiven.
Still, have to appreciate the innovation