Dorchester Towers Condominium-2009 Year in Review

By
Real Estate Agent with Douglas Elliman Real Estate

Dorchester Towers Condominium-January 2010

Dorchester Towers Condominium ManhattanThe Dorchester Towers, built in 1965, is located in the prime Lincoln Center area of the Upper West Side in Manhattan. Apartments at the Dorchester Towers are well known to have spacious and practical layouts, numerous large closets throughout each apartment,  and open western and eastern exposures. The mix of the apartments in Dorchester Towers Condominiums varies with a variety of layouts including mostly studio apartments both straight and alcove, one bedroom and junior 4 apartments commonly converted to 2 bedroom layout, and very spacious 2 bedroom units. There are combination units forming larger 3, 4 and 5 bedroom apartments.

One of the unique aspects of Dorchester Towers is its unique position: It sits on the whole block between  Broadway and Amsterdam Avenue on  68th and 69th Streets, combined with the circular driveway at the main entrance on 68th Street provided fantastic double exposures from many of the units from both towers. Dorchester Towers has a full-time doorman and concierge, package room, garage, roof deck, bike storage/storage units and fantastic laundry rooms on every floor on the eastern tower. The location of Dorchester Towers is one of its best selling points, being right in the heart of Lincoln center  its residents have great access to subways(1,2,3) bus lines(M104 and M5) and all of the amenities the neighborhood has to offer. About a 5 minutes walk to both Central and Riverside Park, a variety of shopping, the movie theater just across the street, gyms and everything else you would expect to have in this vibrant and well established neighborhood.

In 2009 11 apartments sold at the Dorchester Towers Condominium at 155 West 68th St, New York, New York 10023

For a comparison of years past, in 2006 15 properties sold, in 2007 12 properties sold,  and in 2008 12 properties sold. So it appears that Dorchester Towers Condominium in Manhattan is right on its average of how many units sell every year.

The turnover rate was 3.24%.


Breakdown of the type of units SOLD in 2009

  • Studios- 2 studios sold- Average price of $545,000 at an average price/sq ft of approximately $1001
  • 1 Bedroom-4 One bedrooms sold - Average price of $675,000 at an average price/sq ft of approximately of $1054
  • Junior 4*- 3 Units Sold, Average Price- $902,053 at an average price/sq ft of approximately $1,000 
  • 3 bed/3 bath-1 unit sold at $2,200,000.00 price per sq ft of $1035
  • 4bed/3 bath-1 unit sold at $1,610,000.00 price per sq ft $782

*- The Junior 4 Layout or 1 bedroom with dining alcove has some of the most variation in apartment layout, # of bathrooms, and square footage in the entire building.  Each unit has to be looked individually to determine a specific price point based on its unique characteristics.

How do the Prices in Dorchester Towers Compare to 2008?

  • Studios-2 Units Sold at an average price of $956 sq/ft
  • 1 Bedroom-6 units sold at an average price of $1069
  • Junior 4-4 Units Sold at an average price of $947

Dorchester Towers Condominiums for saleWhat does this all mean?

Because Dorchester Towers Condominium is such a large building, 680 apartments, and the specific location and design of the building, taking up the entire block from 68th to 69th Street from Broadway to Amsterdam, the layouts, exposures and floor level have dramatic effects on the pricing of each unit.  The building was originally built in 1965 and converted into condominiums in the late 80's so the physical condition of each unit will depend on each individual owners ability to remodel.

At Dorchester Towers Condominium it is very important to know the fine points of the building because there are so many layouts and variations that will effect pricing.  Understanding individual lines, a pricing history of similar apartments, exposure and view will greatly impact a pricing strategy or bidding strategy for both buyers and sellers.

TO READ MORE OF DORCHESTER TOWERS BELOW:

We are in a competitive market, hence working with two agents that live in the building and that specialize in condominium sales will you give you an advantage when it comes time to sell or rent your apartment.  Our approach to selling your apartment is intentionally unique.  We use strategies that most real estate agents do not use.  If you are interested in hearing our proposition, contact us immediately to see how we can help you achieve your goals.

For a complete list of the current apartments for sale at the Dorchester Towers Condominium or for condominium apartments for sale in the Upper West Side call Morgan Evans or Eileen Hsu at (212)321-7122 or (917)837-8869 for further details. Visit: http://dorchesternyc.wordpress.com/


Copyright © 2010 By Morgan Evans, All Rights Reserved.*Dorchester Towers Condominium (155 West 68th St) January 2010 Report*  

 

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Morgan Evans is a Licensed Real Estate salesperson in Manhattan New York specialize in neighborhoods such as: Greenwich Village, Soho, Union Square, Upper East Side, Upper West Side, Chelsea, Midtown West, Midtown East, Nolita, Lower East side, Financial District in Manhattan. Morgan specialize in working with international buyer, high net worth buyers,  parents buying for children and investors buyers. Contact him today by calling (917)837-8869.

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Show All Comments
Rainmaker
659,150
Eileen Hsu
Douglas Elliman Real Estate - Manhattan, NY
LICENSED REAL ESTATE SALESPERSON

This is an informative report, I am sure the residents or perspective buyer will appreciate these data.

Jan 18, 2010 09:04 PM #1
Rainmaker
121,227
Sonny Kwan
Quantum Group Commercial - Residential - Lease Seattle, WA - Mercer Island, WA
206-819-8228

Morgan, great property information on the Dorchester Condos, thanks for sharing this info with us. The buyer will really be able to use this

Jan 19, 2010 12:48 AM #2
Rainer
215,982
Marcia Hawken
Downing-Frye Realty, Inc. - Naples, FL
Naples Luxury Specialist

Morgan, Very well done.  I like your in depth views on pricing as well.  What a great location. 

Jan 19, 2010 05:54 AM #3
Rainmaker
1,483,152
Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Authentic Feng Shui Expert

Morgan, Talk about location.  I imagine this would be a wonderful place to look at when purchasing due to the variety of apartments there.

Jan 19, 2010 09:43 AM #4
Rainmaker
533,759
Morgan Evans
Douglas Elliman Real Estate - Manhattan, NY
LICENSED REAL ESTATE SALESPERSON

Carole-As far as an Upper West Side Lincoln Center location it is fantastic, we live in the building and love it here.

Marcia-Pricing at Dorchester is not easy because its not a completely cookie cutter building with the same lines up and down the entire building.

Sonny-Thanks for your consistent input, I hope buyers and sellers feel the same way.

Jan 19, 2010 09:46 AM #5
Rainmaker
1,417,596
Joan Cox
Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Morgan, great report, and you are the building expert with the knowledge of every unit that has been rented or sold.

Mar 01, 2013 06:02 AM #6
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Rainmaker
533,759

Morgan Evans

LICENSED REAL ESTATE SALESPERSON
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