Tag Archives: 400CPW

CentralParkWest, Listings, Upperwestside

400 Central Park west apt 12M Sold

A 1 bedroom, sponsor renovated unit was sold at the 400 Central Park west condo. The apartment featured a top of the line renovation by the contractor of the Sponsor and had southern views of Central Park. The sales price was $1,325,000 negotiated down from the ask of $1,345,000.  The listing broker was Douglas Elliman and the selling broker was BSRG Inc/ Brian Silvestry.

The 400 Central Park west condominium is a 400 plus unit full service building with resident’s lounge, private gardens, parking, storage, live-in-super and on-site management.

Link to listing

The Author-  Brian Silvestry , a licensed real estate broker, has been selling residential and commercial real estate since 1999. He has sold in every neighborhood from Battery Park City to Washington Heights.

Buying tips for your NYC apartment, BuyingtipsforManhattanproperty, Real estate, Upperwestside

Why do some Manhattan buildings have so few units for sale?

I always find it interesting to see that in some Manhattan buildings that are very few apartments for sale. In 400 Central Park west, a 414 unit condominium there are 6 apartments for sale, and 2 of those are in contract. So out of 414 units, there are 4 units available for sale or less than 1% of the building.

Contrast that with 120 Riverside boulevard, which has 23 units for sale with only 2 of those in contract. The 14 year old building has 276 units and many amenities. But taxes for a 1292 sqft 2bd/2ba run around $21,000 per year. Perhaps, this is the clearest example of the effect of the Tax Reform? Either way, with nearly 8% of the building for sale, it might create a pause in a buyer looking to purchase.

The Author-  Brian Silvestry , a licensed real estate broker, has been selling residential and commercial real estate since 1999. He has sold in every neighborhood from Battery Park City to Washington Heights.

 

Real estate

Park West Village July market report

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Park West Village is a 4 unit condo complex on Central Park West on Manhattan’s Upper west side. 372,382,392 and 400 CPW are all 19 story buildings with approximately 414 +/- units and share similar amenities and low monthly charges.

There were two sales in the 4 building complex in the month of July and both were in 382 Central Park west aka the Olmstead. Apt 3A, a renovated 845 sqft, north facing apartment with a balcony fetched $1,076,500 and took 3 months to go to contract in May before closing in July. While apartment 16G, a south facing, 545 sqft studio was listed back in November of last year, also took 3 months to go to contract and then 4.5 months from contract to closing and closed for $765,000.

Below is the current inventory by building and the availability by unit size.

Current active inventory
372 2
382 4
392 4
400 2
Inventory by apt size
Studio 3
Big studio 3
1 bd w terrace 5
2bd/2ba 1

 

The below tables show currently signed contracts by building and by unit size.

Contracts by building
372 4
382 2
392 2
400 4
Contracts by unit size
Studio 4
Big Studio 1
1 bed without terrace 1
1 bed w terrace 4
2bd/2ba 2

There are 12 total listings for sale and the amount of time it would take to sell all 12 listings is projected as 6 months. However, with 12 properties in contract that will likely close in the next 3 months, the sales per month for the next 3 months will likely be in the range of 4 per month which would suggest the current inventory might only last 3 months.

Park West Village market report 1st half 2018

The Author-  Brian Silvestry , a licensed real estate broker, has been selling residential and commercial real estate since 1999. He has sold in every neighborhood from Battery Park City to Washington Heights.

Real estate

Park West Village Market report Year to date

Park West Village is a 4 unit condo complex on Central Park West on Manhattan’s Upper west side. 372,382,392 and 400 CPW are all 19 story buildings with approximately 414 +/- units and share similar amenities and low monthly charges.

Total sales 372 382 392 400
21 6 4 5 6

Sales by apartment size

1bd w terrace 11
2bd 4
big studio 2
small studio 3
1bd no terrace 1
Active 372 382 392 400
3 3 5 6

Active by apartment size

Small studio 9
Big Studio 3
1bd w terr 3
2bd 2

There have been 3 small studios(approximately 545 sqft) sold in 6 months and there are 9 in the market. That translates to an inventory of 18 months which is why the prices have been dropping on that apartment size.

With only 2-2 bedrooms available for sale in all 4 buildings that size of apartment is in demand along with the 1 bedroom with terrace which only have 3.

The least expensive sale this year was apartment 5L in 400 CPW which sold for only $740,000 and the most expensive was a combination which sold for $5,445,000.

400 Central park west currently has 2 studios asking $710k and $738k which might end up selling for low $700’s or high $600’s.

 

The Author-  Brian Silvestry , a licensed real estate broker, has been selling residential and commercial real estate since 1999. He has sold in every neighborhood from Battery Park City to Washington Heights.

CentralParkWest, Listings, Rentals

400 Central Park west 19P rented

A 2 bedroom/2 bathroom apartment in the Upper West side condominium 400 Central Park west, was rented for $5,200, in as is condition. The apartment features an extraordinary view of Central Park as it has two exposures, one facing south and one facing east directly into the park.

The building features a 24 hour concierge, bike room, storage, parking, live-in-super, on site management, laundry room in basement and resident’s lounge. The building also has private gardens and a superior location adjacent to central park, close to Whole Foods and many train and subway lines.

The Author-  Brian Silvestry , a licensed real estate broker, has been selling residential and commercial real estate since 1999. He has sold in every neighborhood from Battery Park City to Washington Heights.

Buying tips for your NYC apartment, CentralParkWest, Marketreports, Selling tips, Upperwestside

Park West Village on Manhattan’s Upper west side inventory low

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Here is the update on the market conditions in Park West Village, the 4 building condo complex that runs from West 97th street to West 100th street between Columbus and Central Park west. Inventory is low with each building having no more than 3 units available for sale. Considering that each building has over 400 units, that’s a minuscule amount of inventory available. Interestingly, there are no 2 bedroom/2bathroom apartments available right now in the Upper West side complex.

The table below shows the number of active listings, contracts signed this year that have not closed and closed sale since the beginning of the year.

 

Building # listings contracts sold
400 3 1 3
392 2 1 3
382 3 4 3
372 2 1 5

 

The Author-  Brian Silvestry , a licensed real estate broker, has been selling residential and commercial real estate since 1999. He has sold in every neighborhood from Battery Park City to Washington Heights.

CentralParkWest, Sales, Upperwestside

400 Central Park west 7K SOLD

A 1 bedroom, 1 bath south facing apartment at the 400 Central Park west condominium closed yesterday. The asking price was $1,255,000 and the sold price was $1,235,000. The apartment featured a 18′ south facing terrace with views just above the trees into Central Park. The sellers were longtime owners/investors in the building and had purchased the apartment 18 years ago.

The building has a full time concierge, live-in-super, on-site management, renovated gym, childrens’ playroom, residents’ lounge, storage and parking available both on wait-list.

 

The Author-  Brian Silvestry , a licensed real estate broker, has been selling residential and commercial real estate since 1999. He has sold in every neighborhood from Battery Park City to Washington Heights.

 

Building profile, CentralParkWest, Condos, Upperwestside

400 Central Park West Building snapshot

If you are thinking of buying on the Upper west one of the most desired building is within the postwar Park West Village. It is located at the corner of Central Park west and 100th street. The building features studios to 2 bedrooms (540 sqft(50m2) to 1140 sqft(105m2)). There are 1 bedrooms and 2 bedrooms with balconies. Apartments face either north or south due to the building being sideways on Central Park west and the 2 bedroom apartments have a second exposure either west or east.

Inside the building, there is a full time concierge, live-in-super, on site property manager, exercise room, children’s playroom, and laundry. Bike storage, storage and parking are also available on a wait list basis with parking in the outdoor parking lot going for only $204 per month! It takes about 1 year to get a space in the 400 Central Park west parking lot as of this time.

Best of all, 400 Central Park west has very low monthly charges. A 2 bedroom/2 bathroom which might sell for between $1.6-$1.9 million will have a common charge of about $900 and taxes around $400. For this reason, there are a limited number of apartments for sale in 414 unit building. Owners tend to purchase and stay or hold their properties long term.

The building also shares a playground with the neighboring buildings plus there is another playground inside Central Park at West 100th street. Many of the southern facing apartments have wonderful views of the Park and a Citi bike station is located across the street at Central Park west and West 100th street on the park side of the street.

400 CPW Lobby

Listings in 400 Central Park west

The Author-  Brian Silvestry , a licensed real estate broker, has been selling residential and commercial real estate since 1999. He has sold in every Manhattan market from Battery Park City to Washington Heights.

 

CentralParkWest, Listings, Real estate, Upperwestside

400 Central Park west 1 bedroom apartment for sale

Apartment 7K has entered the market and features just over 900 sqft with a 18 foot south facing terrace. Kitchen and bathroom were updated and crown moldings were installed. The South facing apartment receives tons of light and can be purchased by an investor or end user. It is currently rented out for $3400 per month.

Listing info and more photos