Diamond in the rough...

Sunday afternoon I was out with a buyer taking a look at two bedrooms south of 23rd street on the east and west side. After a myriad of properties we ended up just east of union square at a coop. A no fuss no thrills building but nice and presentable. Good location etc etc.

We walked in and the 1300sq ft apartment. This place was bustling with people. It was bright and had an interesting layout, but in the original condition since....the late 70s early 80's? It was an estate sale, blue carpeting, fogged windows peeling paint, old and awkward baths but it had two things going for it. PRICE and POTENTIAL.


We walked out and were waiting with a couple and their daughter for the elevator. " I say we low ball em, 750...you offer 755" she said. " 1.2 for that? are they crazy?" I smiled and thought the 1.2 number was a hop but that they would take less.


After we left the wheels began to spin and both the buyer and I thought this was a great opportunity and were ready to move. His wife came to see it and the potential was agreed upon. We called the next morning to set up an appointment for a contractor. I waited patiently for the call back.


I called again. I was told I could go at the requested time and the key would be with the doorman.


We were set, armed with a bid and a contractor's appraisal we were meeting then submitting the offer. two hours later I got a call saying, we have an accepted offer so don't bother showing it tomorrow.


Unreal, an estate condition apt for 1.2 can sell in 24 hours while there are so many nicely done apartments just sitting out there. I guess the moral of the story is people would rather pay for nothing, than pay for someones time and tastes.