Dorchester Tower 2009 Year in Review

By
Real Estate Agent with Douglas Elliman Real Estate

The 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.

Most desirable 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.

*- 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

What 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 (917)837-8869 for further details. Or visit http://dorchesternyc.wordpress.com/ for more Dorchester related blogs.

 

Posted by

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Eileen Hsu 許雅嵐 (email: EHSU(@)elliman.com)

Our team specialize in Manhattan New York Condominiums, townhouses, and condops.

We are condominium residents ourselves so we understand the Manhattan New York condominium community. We also enjoy all Manhattan neighborhoods, especially Upper West Side, Lincoln Square, Midtown East, Murray Hill, Financial District, Chelsea, Fifth Avenue, Greenwich Village, Nolita and etc just to name a few. If you or you know someone that may be interested in selling, buying or leasing their Manhattan New York condo, call us today (917)837-8869 or (646)644-6929 and we can discuss your specific Real Estate goals.

Manhattan New York Condo Specialists or Chinese Speaking Real Estate Agent

 

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Rainmaker
121,327
Sonny Kwan
Quantum Group Commercial - Residential - Lease Seattle, WA - Mercer Island, WA
206-819-8228

Thanks for the reviews of Dorchester Towers Eileen, looks like it will be a great year in real estate!

Feb 17, 2010 10:21 PM #1
Rainmaker
663,543
Eileen Hsu
Douglas Elliman Real Estate - Manhattan, NY
LICENSED REAL ESTATE SALESPERSON

Yes It will be a great year in Real Estate. Did you check out our Dorchester Building blog? We created for just the residents in the building. (http://dorchesternyc.wordpress.com)

Feb 17, 2010 10:27 PM #2
Rainmaker
853,042
J. Philip Faranda
J. Philip Faranda (J. Philip R.E. LLC) Westchester County NY - Briarcliff Manor, NY
Broker-Owner

Having agents of your caliber as neighbors should be an advantage for anyone living there. Well done. 

Feb 18, 2010 02:19 AM #3
Rainmaker
809,414
Will Nesbitt
Nesbitt Realty at Condo Alexandria - Alexandria, VA
Nesbitt Realty is a family-run brokerage.

Featured post at Condo Benefits.

Feb 18, 2010 08:46 AM #4
Rainmaker
535,308
Morgan Evans
Douglas Elliman Real Estate - Manhattan, NY
LICENSED REAL ESTATE SALESPERSON

Wow, how do you get such great information, always getting featured too, not fair!!

Feb 19, 2010 12:02 AM #5
Rainmaker
222,767
Marcia Hawken
Downing-Frye Realty, Inc. - Naples, FL
Naples Luxury Specialist

Wpw. that is an impressive post!  You deserve the feature!

Mar 07, 2013 08:07 AM #6
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Rainmaker
663,543

Eileen Hsu

LICENSED REAL ESTATE SALESPERSON
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