100 W 57th St #17IH

• 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.