Yesterday, we noted that apartment prices on NYC seem to be on the rise practically overnight?actually, make that literally overnight. More Curbed reader tales of rapid price escalation:
1) "In January/ early Feb we put an offer in for asking ($1.25MM) on 1BR, home office 1.5 bth at 1 Main Street in Dumbo that had been on the market for at least a month. Buyer not only did not accept our offer but increased price to $1.3MM. Still on market as of this weekend."
2) "Apartment at 171 East 84th Street taken off the market in march of 2004 priced at $795k... it came back on the market in October 2004 at $995k... still the same owner."
3) "This was a lovely apt in Park Slope?lots of light, great school district, 3 bed (1 very tiny, 1 medium, 1 good), only 1 bathroom (renovated but very narrow), modern fireplace, renovated kitchen, separate dining room, and rooftop area shared with the other top-floor apt. 4th floor walk-up in a building that didn't look too well-kept. Total sq feet of apartment 1100, roof adds another 300. It was listed at $759,000 and went for $851,000. Multiple bids. This broker uses the "best and final" bid system. So I'd like to know, when blind bidding, how would a person know to bid $92,000 over the asking price? With the current market it sounds like I would need to look at apartments $100,000 below my maximum price so that I can bid up to it. Crazy!!" (Awesome rug, above, not included.)