Score
0New York, NY
100 W 57th St #17IH
475K
3 beds
3 baths
1,800 sqft
3 bd • 3 ba • 1,800 sf
This analysis was generated on 1/26/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.
AI Property Analysis
0:000:00 / 0:00
List Price
$475,000
Price/Sq.Ft
$264
Year Built
1962
AI Property Analysis
A comprehensive evaluation of this property's features, market position, and investment potential.
The Good
• Prime Manhattan location: The property is located in a highly desirable area, just two blocks north of Central Park and near Midtown's office towers, offering convenience and access to amenities.
• Large size: At 1,800+ square feet, this 3-bedroom, 3-bathroom apartment offers a generous living space, which is above average for the area. The unit is large compared to the median sizes of other units in the area.
• High-end kitchen and bathrooms: The property features a chef's kitchen with high-end appliances and custom cabinetry, as well as upscale bathrooms with designer fixtures and finishes. This adds to the property’s luxury appeal.
• Abundant storage: The apartment has 8 closets, including 2 walk-ins, providing ample storage space.
• Washer/dryer in unit: Having a full-sized washer/dryer in the unit is a convenient amenity, especially in NYC.
• Building amenities: The building offers a garage with a 25% discount for residents, which is a valuable perk in Manhattan.
• Pet-friendly and pied-à-terre allowed: The property allows pets and pied-à-terres, which broadens its appeal to a wider range of buyers.
• Proximity to cultural attractions: The property is close to Central Park and Carnegie Hall, making it attractive for those who enjoy cultural activities.
The Bad
• The property requires 'TLC': The description uses the term 'TLC,' indicating that the apartment requires renovations or upgrades. This adds cost and effort for the buyer.
• High monthly costs: The property has a special assessment of $872/month starting 9/1 and maintenance fees, which, combined with property taxes, result in high monthly ownership costs. These costs can impact affordability and are not fully known.
• All-cash sale: The all-cash requirement limits the pool of potential buyers, potentially impacting the speed of sale and negotiations.
• Long days on market: The 214 days on market is significantly higher than average, suggesting potential issues with the property or its pricing.
• The significant price reduction from 2006 to 2024 raises questions about the property's condition or market perception. A 51.3% price decrease is not normal.
• Limited information on room details: The absence of room-specific details can make it hard for buyers to fully assess the layout and suitability of the property.
• Co-op structure: Co-ops have stricter rules and regulations compared to condos, including a board approval process and restrictions on subletting.
The Ugly
• All-cash sale: The requirement for an all-cash purchase excludes many potential buyers, significantly limiting the market and potentially impacting the sale price. This also signals the building might have underlying financial issues.
• High monthly costs: The special assessment of $872/month, combined with maintenance fees and property taxes, results in extremely high monthly costs, potentially making the property unaffordable for many buyers. The total monthly costs are not fully transparent.
• Substantial price drop: The 51.3% price decrease from the 2006 sale price ($975,000) to the current listing price ($475,000) is alarming and suggests significant issues with the property or building. This is a massive red flag.
• Uncertainty about renovations: The need for 'TLC' creates uncertainty about the extent and cost of renovations required, potentially leading to unexpected expenses and delays. The amount of work is not well defined, and could be significant.
• Co-op board approval process: The co-op structure means the buyer is subject to a potentially rigorous board approval process, which can be intrusive and unpredictable and could result in rejection.
• Long days on market: The property has been on the market for 214 days, which is unusually long and could signal underlying issues that are not immediately apparent. This may also indicate the property is overpriced for its current condition.
Who is this property for?
These details are presented solely for entertainment purposes and are not meant to steer or limit any prospective buyer.
Best For
• All-cash buyers seeking a spacious apartment in a prime Manhattan location: The all-cash requirement significantly narrows the buyer pool to those with substantial liquid assets. The large size and location near Central Park and Midtown cater to buyers valuing space and convenience.
• Renovation enthusiasts or those looking to customize: The property is described as needing 'TLC,' indicating a potential opportunity for buyers to personalize the space and add value through renovations. This appeals to buyers with a vision and the resources to implement it.
• Buyers comfortable with co-op board approval: The property is a co-op, which means there's a board approval process. Buyers need to be prepared for financial scrutiny and possible interviews. This is ideal for those familiar with or willing to engage in the co-op process.
• Individuals or families valuing proximity to cultural landmarks: The apartment's location near Carnegie Hall and Central Park is ideal for those who appreciate arts and culture. This is great for those who regularly attend performances and enjoy park access.
• Buyers seeking a large apartment for entertaining: With a full living room, library, and formal dining room, this apartment is well-suited for those who frequently host gatherings. The spacious layout and upscale finishes enhance the entertaining experience.
Not For
• Buyers needing mortgage financing: The all-cash requirement immediately excludes buyers who require a loan to purchase the property. This is a strict limitation.
• Buyers seeking a 'move-in ready' property: The description indicates a need for 'TLC,' which will require time and investment in renovations. This is unsuitable for those needing a turnkey property.
• Budget-constrained buyers: Even with the price reduction, the total cost of ownership is high when factoring in property taxes, maintenance fees, and the special assessment. This is unsuitable for budget-conscious buyers.
• Buyers averse to co-op ownership: The co-op structure means the buyer will have to go through a rigorous board approval process, which can be off-putting for those preferring the relative simplicity of condo ownership.
• Buyers needing immediate occupancy: The potential need for renovations means occupancy may be delayed, making it unsuitable for buyers needing immediate residence.
Demographics
Area Median Income
$105,538
Property History
Price History
Ownership Timeline
$1,300,000Cash Purchase
Apr 15, 2021Amy Sidel Fischer, Fischer, Michael LGoldberg 2020 Descendants Trust, Goldberg As Trustee, Louis
Deed
Standard Sale (Purchase/Resales)
$1,579,306Financed
Feb 1, 2006Windsor Tov LlcAmy Sidel Fischer, Michael L Fischer
Deed
Standard Sale (Purchase/Resales)
Property Taxes
$0
2010 Tax Assessment
Assessed Value$0
Tax Rate0.00%
Sunlight Analysis
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Sunlight Analysis
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Schools
Nearby school quality by education level
Elementary
5.5/10
AverageMiddle
6.0/10
GoodHigh
6.0/10
GoodFinancials
Monthly Costs
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Location & Comparables
Subject Property
Comparable Sales
Subject Property
Price
$475,000
Price/sqft
$264
Layout
3 bd•3 ba
Days on market
214 daysat time of analysis
Stats in the Area
Based on 6 comparable properties nearby
Average Price
$2,472,077
80.8%
Your price is 80.8% below average
Median Price
$2,497,463
81.0%
Based on 6 recent sales
Price per Sq.Ft
$1,495
82.3%
Your price is 82.3% below average $/sqft
Comparable Properties
| Address | Price | Sq.Ft | Beds | Baths | $/Sq.Ft | Sale Date |
|---|---|---|---|---|---|---|
| 1065 LEXINGTON Avenue #7B, NewYorkCity, NY 10021 | $1,500,000 | 1,625 | 2 | 3 | $923249.8% | 10/29/2024 |
| 605 PARK Avenue #10E, NewYorkCity, NY 10065 | $1,835,000 | 1,773 | 2 | 3 | $1,035292.2% | 9/25/2024 |
| 611 W 56TH Street #22B, NewYorkCity, NY 10019 | $2,497,463 | 1,547 | 3 | 3 | $1,614511.8% | 11/7/2024 |
| 400 E 51ST Street #10A, NewYorkCity, NY 10022 | $2,400,000 | 1,812 | 3 | 3 | $1,325401.9% | 9/7/2024 |
| 100 E 53rd Street #40A, New York (Manhattan), NY 10022 | $3,850,000 | 1,638 | 2 | 3 | $2,350790.7% | 10/3/2024 |
| 249 E 62ND Street #8C, NewYorkCity, NY 10065 | $2,750,000 | 1,597 | 2 | 3 | $1,722552.5% | 10/11/2024 |
1065 LEXINGTON Avenue #7B, NewYorkCity, NY 10021
Price: $1,500,000
Sq.Ft: 1,625
Beds/Baths: 2/3
$/Sq.Ft:
$923249.8%
Sale Date: 10/29/2024
605 PARK Avenue #10E, NewYorkCity, NY 10065
Price: $1,835,000
Sq.Ft: 1,773
Beds/Baths: 2/3
$/Sq.Ft:
$1,035292.2%
Sale Date: 9/25/2024
611 W 56TH Street #22B, NewYorkCity, NY 10019
Price: $2,497,463
Sq.Ft: 1,547
Beds/Baths: 3/3
$/Sq.Ft:
$1,614511.8%
Sale Date: 11/7/2024
400 E 51ST Street #10A, NewYorkCity, NY 10022
Price: $2,400,000
Sq.Ft: 1,812
Beds/Baths: 3/3
$/Sq.Ft:
$1,325401.9%
Sale Date: 9/7/2024
100 E 53rd Street #40A, New York (Manhattan), NY 10022
Price: $3,850,000
Sq.Ft: 1,638
Beds/Baths: 2/3
$/Sq.Ft:
$2,350790.7%
Sale Date: 10/3/2024
249 E 62ND Street #8C, NewYorkCity, NY 10065
Price: $2,750,000
Sq.Ft: 1,597
Beds/Baths: 2/3
$/Sq.Ft:
$1,722552.5%
Sale Date: 10/11/2024
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