46 W. 71ST St.
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