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Values are Blooming!

Danica Cordell-Reeh

Lic. Assoc. R.E. Broker
Office:(212) 381-2343
Mobile:(917) 353-2107

Mentioned in this Article:
New York Sun

Done Deals

46 W. 71ST St.
One-bedroom co-op
Asking price: $150,000
Selling price: $145,000
Time on Market: 4 weeks

Don’t get your eyes checked just yet. This apartment really did sell for $145,000. And it really is less than a block from Central Park.

How did this happen? A rent-stabilized tenant has lived in the unit for 20 years, and has the legal right to stay as long as he wants. His rent is only slightly higher than the $655 maintenance fee.

Deals like this are rare, but they do exist, a Halstead broker, Danica Cordell-Reeh, told The New York Sun. Since she found this 30-by-15-foot studio, word of the deal has spread. She now has about 30 clients searching for similar properties.

Demand, understandably, exceeds supply. "I can’t find ’em. I have a lot of people who are looking for them,” Ms. Cordell-Reeh said, adding that “it’s a very desirable price range."

Thursday, December 08, 2005