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The Brevoort, 11 Fifth Avenue, #3V is an estate sale listing (Compass) The Brevoort, 11 Fifth Avenue, #3V is an estate sale listing (Compass)
When perusing New York real estate listings, especially low-priced listings are sometimes accompanied by two words of warning: “estate sale.” That might be confusing to buyers from other parts of the country who are accustomed to hearing the phrase used to describe what is essentially a high-end garage sale of the entire contents of a home. But in New York, it means that the home itself has come on the market because the previous owner has died, and the apartment is offered for sale by their estate, usually their heirs.
Some would-be buyers are hesitant to enter a home where there has been a recent death out of fear or respect. Others, however, are more likely to be scared of the condition of the apartments that have not been changed in decades. There is a reason many listings encourage searchers to “bring your architect”: Low asking prices are often offset by the costly, extensive renovations needed to bring these apartments up to modern standards.
Additionally, the purchase of an estate sale apartment takes more time and legal help than that in the purchase of a traditional unit. It is not unheard of for a deceased person's estate to put the apartment on the market before all legal issues have been fully resolved, which can delay the closing. Inspections are still allowed, but estate sales cannot be contingent on the seller making the changes or repairs one might be able to bargain for somewhere else. The process is complicated enough with a straightforward will, but title claims can further complicate the process. It is little wonder Brick Underground quips that, "what you save on asking price, you may well pay for in the time, effort, and cost it takes in navigating a sale with attorney involvement."
However, certain buyers are not put off by estate sales but rather embrace them. Some people appreciate an apartment’s rich history, and a class of design enthusiasts welcomes the challenge of either restoring a prewar home to its former glory or bringing it into the 21st century. Either way, the following listings offer the chance to create one’s own estate in highly coveted parts of Manhattan and Brooklyn for significantly lower prices than one would typically pay.

The Englewood, #12B (Stephen P Wald Real Estate Associates Inc)

The St. Tropez, #31B (Corcoran Group)

Park Ten, #3G (Compass)

Stewart House, #10G (Compass)

York River House, #PHB6 (Casa Blanca Real Estate)

25 East 83rd Street, #3A (Douglas Elliman Real Estate)

The Brevoort, #3V (Compass)

Saint Germain, #2G (Barshay Brokerage Real Estate Group LLC)

Park Ten, #19A (Stephen P Wald Real Estate Associates Inc)

50 Park Avenue, #14G (Brown Harris Stevens Residential Sales LLC)

155 East 93rd Street, #3A (Stephen P Wald Real Estate Associates Inc)

The Wexford, #2A (Corcoran Group)

17 West 108th Street, #88 (Camelot Realty Group LLC)

The Excelsior, #19B (Compass)

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