Score
0New York, NY
453 2nd Ave
7.9M
3 beds
4 baths
3,350 sqft
3 bd • 4 ba • 3,350 sf
This analysis was generated on 2/19/2025. 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
$7,900,000
Price/Sq.Ft
$2,358
Year Built
1901
AI Property Analysis
A comprehensive evaluation of this property's features, market position, and investment potential.
The Good
• Rare Private Garage: The inclusion of a private garage is a significant asset in Manhattan, where parking is scarce and expensive. This feature adds convenience and value to the property.
• Modern Elevator: The presence of a modern residential elevator is a valuable amenity, particularly for buyers with mobility issues or those planning to age in place.
• Multiple Outdoor Spaces: The property boasts three separate outdoor spaces (courtyard, balcony, garden, and terrace), providing ample opportunities for relaxation and entertaining.
• Gut Renovation: The property has been renovated from top to bottom, suggesting that it is in good condition and requires minimal immediate repairs. The blend of modern finishes with historic touches adds to its appeal.
• Proximity to Schools: The property is located near highly-rated schools, including Ps 116 Mary Lindley Murray (7/10) and Jhs 104 Simon Baruch (8/10), making it attractive to families with children.
The Bad
• High Price per Square Foot: At $2,358.21 per square foot, this property is significantly more expensive than other single-family homes in Manhattan. According to recent market data, the average price per square foot for similar properties in the area is closer to $1,800-$2,000.
• Limited Number of Bedrooms: With only 3 bedrooms, this townhouse may not appeal to families requiring more space. Comparable properties in the area often feature 4 or more bedrooms.
• High Estimated Insurance Cost: The estimated annual insurance cost of $28,440 is substantial. This is likely due to the age of the property, its location in Manhattan, and the 'Major' wind risk. Obtain quotes from multiple insurers to verify this estimate.
• Unclear HOA Coverage: While the listing mentions that the HOA includes maintenance, the specific services covered are not detailed. Clarify what type of maintenance is included (e.g., exterior repairs, landscaping) and whether there are any restrictions on renovations or alterations.
• Moderate Air Quality Risk: The 'Moderate' air quality risk (4/10) and the occurrence of approximately 5 bad air days per year might concern some buyers. Consider investing in air purification systems to mitigate this risk.
The Ugly
• Significant Price Increase in January 2025: The property was listed for sale at $7,900,000 in January 2025, representing a 97.5% increase from its previous sale price of $4,000,000 in August 2023. This rapid price appreciation raises concerns about overvaluation.
• Volatile Pricing History: The property has experienced multiple price changes and listing removals in recent years, indicating uncertainty in its market value. This volatility might deter some buyers.
• High Total Cost of Ownership: In addition to the high purchase price, buyers should factor in property taxes, insurance, HOA fees, and potential maintenance costs. These expenses can significantly increase the total cost of ownership.
• Reliance on Central Air: The property relies solely on central air for cooling. In the event of a system failure, residents would be without cooling, particularly concerning given the 'Major' heat risk.
• Potential for Hidden Issues: Despite the renovations, older townhouses can harbor hidden issues such as plumbing or electrical problems. Conduct thorough inspections to identify any potential repairs.
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
• High-Net-Worth Individuals Seeking Privacy and Exclusivity: The unique features like a private garage, elevator, and multiple outdoor spaces cater to buyers prioritizing convenience and luxurious living within a townhouse setting. The median income in the area is $131,635, suggesting a concentration of affluent residents.
• Buyers Valuing Proximity to Midtown Amenities: The location on 2nd Avenue provides easy access to Midtown's business district, entertainment venues, and cultural institutions.
• Purchasers Seeking a Blend of Historic Charm and Modern Updates: The renovated interior with exposed brick and modern appliances appeals to those appreciating a balance of classic and contemporary design elements.
• Individuals Intending Long-Term Ownership: The property's history shows consistent appreciation in value over the long term, making it attractive to buyers seeking a stable investment. From 2004 to 2025, the price has increased from $1,400,000 to $7,900,000, demonstrating significant growth potential.
• Families Prioritizing Access to Highly-Rated Schools: The proximity to Ps 116 Mary Lindley Murray (rating 7/10) and Jhs 104 Simon Baruch (rating 8/10) makes this property suitable for families with school-aged children.
Not For
• Buyers Seeking Immediate Rental Income: Given the high purchase price and associated costs, the property is unlikely to generate significant rental income. The price-to-rent ratio is unfavorable compared to other investment options in Manhattan.
• Individuals Sensitive to Air Quality: The 'Moderate' air quality risk (4/10) and the occurrence of approximately 5 bad air days per year might concern buyers with respiratory issues.
• Buyers Seeking a Turnkey Property: The property, built in 1901, may require ongoing maintenance and potential upgrades despite the recent renovations. Older townhouses often present unforeseen repair needs.
• Individuals Requiring Extensive Outdoor Space: While the property features a courtyard, balcony, garden, and terrace, the size of these outdoor spaces might not meet the needs of buyers seeking large gardens or recreational areas.
• Buyers Seeking a Predictable Real Estate Investment: The property's price history demonstrates volatility, including a substantial price increase in January 2025. This unpredictability might deter buyers seeking stable and consistent real estate investments.
Demographics
Area Median Income
$131,635
Property History
Price History
Ownership Timeline
$4,000,000Cash Purchase
Jul 11, 2023Deborah R Brown, Eric J Ploumis453 2nd Avenue Llc
Deed
Standard Sale (Purchase/Resales)
$2,400,500Cash Purchase
Jan 24, 2006453 Second Avenue LlcDeborah R Brown, Eric J Ploumis
Deed
Standard Sale (Purchase/Resales)
$1,400,000Cash Purchase
Apr 15, 2004Druce Mark Vaughan Vertes As Executor, Vivian Ingrid Patricia Vertes As Executo453 Second Avenue Llc
Deed
Standard Sale (Purchase/Resales)
Property Taxes
$35,197
2023 Tax Assessment
0.0%from previous year
Assessed Value$273,360
Tax Rate12.88%
Sunlight Analysis
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Sunlight Analysis
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Schools
Nearby school quality by education level
Elementary
7.0/10
GoodMiddle
8.0/10
ExcellentFinancials
Monthly Costs
Market Rent (3 bed)
Get a detailed estimate on Zillow$3,120
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Location & Comparables
Subject Property
Comparable Sales
Subject Property
Price
$7,900,000
Price/sqft
$2,358
Layout
3 bd•4 ba
Days on market
26 daysat time of analysis
Stats in the Area
Based on 6 comparable properties nearby
Average Price
$6,811,542
16.0%
Your price is 16.0% above average
Median Price
$6,850,000
15.3%
Based on 6 recent sales
Price per Sq.Ft
$2,221
6.2%
Your price is 6.2% above average $/sqft
Comparable Properties
| Address | Price | Sq.Ft | Beds | Baths | $/Sq.Ft | Sale Date |
|---|---|---|---|---|---|---|
| 35 HUDSON YARDS #6504, NewYorkCity, NY 10001 | $6,850,000 | 3,099 | 3 | 4 | $2,2106.3% | 12/6/2024 |
| 35 HUDSON YARDS #7203, NewYorkCity, NY 10001 | $4,995,000 | 2,724 | 3 | 4 | $1,83422.2% | 12/6/2024 |
| 404 PARK Avenue S #PH16A, NewYorkCity, NY 10016 | $6,500,000 | 2,983 | 3 | 4 | $2,1797.6% | 11/1/2024 |
| 39 W 23RD Street #24A, NewYorkCity, NY 10010 | $10,600,000 | 3,194 | 4 | 4 | $3,31940.7% | 9/26/2024 |
| 35 HUDSON YARDS #7503, NewYorkCity, NY 10001 | $7,999,250 | 3,436 | 4 | 5 | $2,3281.3% | 11/19/2024 |
| 26 W 20th Street #PH5, NewYorkCity, NY 10011 | $3,925,000 | 2,700 | 3 | 3 | $1,45438.4% | 9/3/2024 |
35 HUDSON YARDS #6504, NewYorkCity, NY 10001
Price: $6,850,000
Sq.Ft: 3,099
Beds/Baths: 3/4
$/Sq.Ft:
$2,2106.3%
Sale Date: 12/6/2024
35 HUDSON YARDS #7203, NewYorkCity, NY 10001
Price: $4,995,000
Sq.Ft: 2,724
Beds/Baths: 3/4
$/Sq.Ft:
$1,83422.2%
Sale Date: 12/6/2024
404 PARK Avenue S #PH16A, NewYorkCity, NY 10016
Price: $6,500,000
Sq.Ft: 2,983
Beds/Baths: 3/4
$/Sq.Ft:
$2,1797.6%
Sale Date: 11/1/2024
39 W 23RD Street #24A, NewYorkCity, NY 10010
Price: $10,600,000
Sq.Ft: 3,194
Beds/Baths: 4/4
$/Sq.Ft:
$3,31940.7%
Sale Date: 9/26/2024
35 HUDSON YARDS #7503, NewYorkCity, NY 10001
Price: $7,999,250
Sq.Ft: 3,436
Beds/Baths: 4/5
$/Sq.Ft:
$2,3281.3%
Sale Date: 11/19/2024
26 W 20th Street #PH5, NewYorkCity, NY 10011
Price: $3,925,000
Sq.Ft: 2,700
Beds/Baths: 3/3
$/Sq.Ft:
$1,45438.4%
Sale Date: 9/3/2024
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