Tag Archives: Dorchester condo tower

155 West 68th Street Dorchester Towers Condo Market Report July 2015

155 West 68th Street Dorchester Towers Condo Market Report July 2015

In 2015, the sale of Dorchester Towers have been strong and steady. We are seeing both buyers and sellers have responded to the lack of supply within the condo re-sale market place.

Many buyers have been bidding away at prime properties once it is on the market and sellers have achieved good pricing with realistic expectations.

When we look at 2014, the past year market created a trend where some sellers and Real Estate brokers continued to push prices to a level where buyers backed away until either a realistic price adjustment happens.


When we look at Dorchester Towers market, the ‘Average Days on Market’ increased from 40 days to 54 days before a contract was signed.

The Price negotiability increased from 2.5% (2014) to about 5.4% (YTD 2015). This increase DOES NOT indicate prices are decreasing, in fact the prices are still holding and increasing in certain segments, this is indicating that we are seeing a more measured price appreciation.

Price Analysis

  • Alcove Studios: Up about $100 sq/ft since 2014
  • One Bedrooms: Holding steady since 2014
  • Two Bedrooms: Increased $200 sq/ft since the last sale in 2013

In today’s market, we are seeing the new construction condo market is the most popular segment of the market place.

For brand new renovations or recent renovations, buyers will pay a premium and the likelihood of multiple offers is at its highest.


Continuing into the rest of 2015, with continued low Inventory levels, still historically low mortgage rates for those that need financing, and an overall confidence in New York City as a global safe haven, all indicators of a healthy and active Real Estate Market.

We are Morgan Evans and Eileen Hsu, residents of the Dorchester Towers and we the consistent top selling Real Estate agents for the Dorchester Towers Condominium.

We have the most thorough  track-record of results of any sales team, and we sell Dorchester for the best price and fastest compare to any other agent.

If you are an owner and are thinking of selling or renting your Dorchester Tower condo unit, Contact us for a confidential discussion of your Dorchester condo unit at (917) 837-8869.Or email us at Morgan.Evans@elliman.com or EHSU@elliman.com

Dorchester Towers NYC- Rental Market Report Spring 2012

155 West 68th Street-Dorchester Towers Condo Rental Market Report Spring 2012

Manhattan New York Rental market is very seasonal, Spring Summer is one of the most optimal time for both condo owners and renters to be out and start looking for their next rental apartment.

In our past experiences in renting out many units for our investor owner or out of town owners, In the middle of winter or very cold weather season, we usually do not see many renters out looking or willing to move.

We helped many Dorchester condo owners selling and renting their units for many years now,  we can say that Spring rental market is traditionally the strongest time based on our past experiences.

155 West 68th Street is a building that almost half of the building is owned and rented out by the original building developer (sponsor) and the other units are owned by private condo owners. An potential tenants can either rent from the sponsor’s management company or an individual owner depending on availability.

At 155 west 68th Street, Management units are usually very updated and brand new renovation. On the other hand, condo owners will have very different or varying degree of renovation.  The original 1960s condition apartments will be the most challenging to rent in our experience.

Dorchester Towers Condo is a pet friendly building, at the same time, the condo owner can decide whether they want to allow pet in their rental unit or not. We would say 25% of potential renter will have a pet, if you, the condo owner is open to pets, that will broaden your range of potential renters.

Pricing for a Dorchester Tower’s Rental units as of 4/2012:

  • Studios- $2500-$2900
  • One Bedrooms-$3000-$3500
  • Junior 4(Convertible Two)- $3800-$4700
  • Two Bedroom/Two Bathroom-$5200+

If you are a Dorchester Owner and is interested in renting your Dorchester Towers apartment, call us today at (917) 837-8869, we will discuss how to maxmize your rental price in todays market and secure a highly qualified tenant for you. You can also email us at EHSU@elliman.com

Dorchester One Bedroom For Rent

Dorchester Towers Condo (155 West 68th Street) Market Report and Update

Dorchester Towers is located at 155 West 68th Street New York, NY 10023. Dorchester Towers Condominium is located in the heart of the Lincoln Square area of the Upper West Side.

Dorchester Towers is one of the most desirable Lincoln Square Condominium buildings for a number of reasons:

Recently the building changed it’s building pet policy. They now allow dogs in the building.  This change from the perspective of Real Estate sales now opens up the buyer pool to those who have pets.  The dog policy still has certain restrictions based on the breed and number of pets allowed in an apartment. A renter for an apartment in Dorchester Towers Condominium is also now allowed to have a dog in the apartment.  That is the building policy, but naturally it’s every owner’s discretion to decide if pets will be allowed.

Overall this change in policy will lead to a wider buyer pool as pet owners who once would dismiss the building will now come and see if they want to purchase or rent a condominium at Dorchester Towers.  This is an advantage to a current owner in the building who may be looking to rent or to sell in the future.

Another update for the building that there are plans to renovate the hallways and lobby area. The renovation is described as fairly extensive, there is a tentative plan for a children’s playroom and meeting room to be constructed within the current layout of the generously sized lobby sitting area.  This is planned to occur sometime in late 2011 or early 2012 depending on a number of factors.

Updating the hallways is going to be a very aesthetically positive infrastructure for the building. As an active real estate agent, some buyers from time to time comment that a hallway renovation would be worthwhile.  A children’s playroom and meeting room are definite advantages in a real estate perspective.  These added amenities will provide an added value proposition for incoming buyers, as many of the more modern condominium buildings in the neighborhood have these types of amenities.  The building will still not have any gym, fitness or health club area, but there are still a number of gyms in the near vicinity of the building including Reebok Sports Club, Equinox, New York Sports Club, just to name a few.

Overall, we think the renovation of the hallways and the lobby is going to be a major improvement for the building. Many post-war buildings that were built around the same time that Dorchester Towers NYC was in the mid 1960s are all being updated now to stay as competitive with some of the other more modern buildings in their respective neighborhoods.  The renovation was paid for through a capital assessment that is planned to end in August of 2012.

The combination of opening up the building to allowing dogs and the upcoming renovation of the hallways and lobby we can say will increase the desirability of the building to incoming buyers and create a larger value proposition to anybody interested in a Dorchester Towers Condominium apartment.

Dorchester Towers Sold Condominiums since June 1st, 2011:

Apartment 509, 1 Bedroom sold for $645,000
Apartment 1509, 1 Bedroom sold for $625,000
Apartment 1701, Junior 1 bed(alcove studio with converted wall for bedroom area) sold for $582,000
Apartment 1512, Junior 4(1 Bedroom with dining alcove in living room that could be converted to 2nd bedroom), sold for $860,000
Apartment 907, Alcove Studio, sold for $575,000

In Contract Apartments at Dorchester Towers:

Apartment 428, Junior 1 Bedroom apartment, last asking price was $725,000

Condos for Sale at Dorchester Towers as of October 24, 2011

Apartment 4-20, 1 Bedroom, asking $625,000
Apartment 18-15, 1 Bedroom, asking $799,000
Apartment 29-C, Junior 4(1 Bedroom with dining alcove in living room that could be converted to 2nd bedroom, 1.5 Bathroom, asking $1,175,000

We are Dorchester Towers condo (155 West 68th Street New York NY 10023) sales and rental specialists. If you are interested in finding more about this condo, call us today at (917) 837-8869, or if you are an owner that would like to receive a fair market estimate of your unit, call us (917)837-8869 and we can discuss in details.

Dorchester Towers NYC: 2011 Mid Year Report

Dorchester Towers-155 West 68th Street has seen a steady number of units come on the market for sale so far in year 2011. In 2010 we tracked total of 8 sales occurred in the building and in year  2009 total of 11 sales occurred. On average over the past 5 years there is approximately 10-12 sales occurring.

So far in the first 6 months of the year we have had 6 apartments closed and another 4  are currently in-contract or have offer’s accepted. We are well above pace for the typical number of sales. So the question is, why is that?

Many of the apartments at Dorchester Towers fall into a sweet spot of desirability for a big pool of buyer’s looking for a condominium in the Lincoln Center area of the Upper West Side. An example being a One Bedroom apartment ranging in size of 600-700 sq ft priced in the $625,000-$750,000 range. That is a price range that has very limited supply right now. Most of the alcove studio’s in the building are in the 550-600 sq ft range and priced typically around $550,000-$600,000. That is a very desirable combination of price, apartment size, at this location. The Junior 4 apartments that can be converted to a small two bedroom also fit a nice niche in the market. Some of these apartments have a second half-bath which make them extremely desirable. Being able to get a convertible two bedroom condo in a full service doorman building like Dorchester Towers in the price range of $850,000-$1,000,000 is a strong part of the market.

The condition of an apartment has been one of the largest influences on individual pricing in the building. When an apartment is sold in an original condition(circa 1965) compared to a recently renovated apartment the price per square foot difference is quite evident. The unrenovated apartments are going to sell on the lower end of the price point for their segment of the market.

Here is a summary of what has sold and is currently in contract at Dorchester Towers:


  • Apartment 710(Alcove Studio in original condition) $490,000
  • Apartment 721(Junior 1 Bed/Very Large Alcove Studio) $650,000
  • Apartment 817(1 Bed, renovated) $720,000
  • Apartment 1512(Junior 4, 1 Bath, original condition) $ 860,000
  • Apartment 23B(Convertible 3, 2.5 Bath) $1,160,000
  • Apartment 208(Convertible 2, 1.5 Bath, renovated) $950,000


  • 509(1 Bedroom)-Last Asking Price was $689,000
  • 1509(1 Bedroom)-Last Asking Price was $625,000
  • 428(Junior 1 Bed)-Last Asking Price was $725,000-Offer Accepted
  • 1701(Junior 1 Bed-Last Asking Price was $595,000

So far this year we have represented 5 transactions in the building. If you are an owner thinking of selling or renting your apartment contact us today. We can be reached at (917) 837-8869.

Now is a great time to find out how much your Dorchester Apartment could sell for.

Dorchester Towers Condo-155 West 68th Street 2010 report

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.

We are the Dorchester Towers specialists that have assisted many savvy owners in selling and leasing their Dorchester towers condo apartments.

In 2010, there were eight 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, in 2008 12 properties sold and in 2009 11 apartments sold.

There was a dip in the number of properties sold in 2010.  This could be a result of a number of different factors.  Almost all of the properties that came on the market in the building during the year ended up selling.  Like the rest of the market typically the only sellers that put their apartments on the market actually want to sell them and buyers are only willing to make offers on apartments that are priced relative to whats selling in their respective buildings and in the neighborhood.  This creates a situation where fewer apartments trade.

We are going to provide a basic breakdown of the sales that occurred in 2010. As a Dorchester resident and also a Real Estate broker of Dorchester Towers I would like to note that pricing an apartment at Dorchester Towers has a lot to do with understanding the unique variables that make up this building.  Because the building is over 40 years old the condition of most apartments can vary widely, because of the unique shape and position of the building floor and exposure play a considerable part in the price an apartment will demand.  These variables are unique to each situation, and if you are curious about your specific apartment and how it compares to what’s sold, I recommend you to contact us (917)837-8869 so we can break down the differences between your apartment and what has sold this past year.  The figures we provide are accurate as far as the closing information we receive from multiple sources, but often prices are a reflection of different variables that are not as easily quantifiable.

The breakdown of apartments was as follows:

Three Junior Four Apartments Sold.

  • A 31st floor, 902 sq ft with 1.5 bath Junior 4 sold early on in 2010 for  $1,040,000.  This was a western facing(open views) renovated apartment with the second bathroom.
  • A 17th floor 975 sq ft 1 bath Junior Four sold for $870,000.00
  • A 21st floor 804 sq ft 1 bath Junior Four sold for $850,000.00

Junior Four Apartments are typically a 1 bedroom apartment with an L-shaped Living Room.  The addional wing of the living room can often be turned into a second small bedroom or used as a dining space.  Now at Dorchester Towers there are a number of different layouts for Junior 4 apartments.  Some layouts are more functional and have more value than others as the additional room will have a built in closet already and have a window.  The ayouts where the dining alcove space does not have a window or have a built in closet are not able to be marketed as a “real” bedroom space.

Three one bedroom Apartments Sold.  Average price was $646,833.  The average sq ft was 628 sq ft. That is about $1030 sq ft.

  • A third floor south facing 633 sq ft 1 bedroom sold for $626,000
  • A third floor south east facing 650 sq ft 1 bedroom sold for $672,500
  • A 17th floor West facing 601 sq ft 1 bedroom sold for $642,000.

The one bedroom market at Dorchester Towers is highly desirable as most of the apartments will fall into the $600,000-$700,000 price range. This price range in the Lincoln Square area for condominiums doesn’t have very much inventory with a fairly high number of buyers.

One alcove studio(Junior 1 Bedroom) sold for $560,000.  It was a western facing on the 5th Floor, 546 sq ft apartment.

One 3 bed 2.5 bath Sold -This combination apartment faced Broadway on the 18th floor sold for $2,150,000.  This combination featured over 1800 interior sq feet with an additional outdoor terrace, making it quite a unique Dorchester Apartment.

So how do these prices compare to 2009?

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

One bedrooms are selling for about 4% less than last year. Junior Four Apartments if you take the average sold for about $1030 sq/ft, but in my opinion the 31st floor apartment is skewing the numbers as that apartment is not very typical of the average Junior 4 in the building.  The other two sales are more typical and both of those sold for around $860,000.00 at about $966 sq ft.

The larger two and three bedrooms do not trade very often so the valuation really depends on the renovation, view, floor and layout.

Overall, much like the rest of the marketplace, renovated apartments are selling for a premium compared to apartments that need work.  In this marketplace buyers who have to purchase and then renovate will demand and expect to receive a discounted price as the out of pocket expenses and time involved to renovate will be considerable.

Dorchester Towers has faired well in the Manhattan marketplace.  I feel that our prime location in the Upper West Side, our low common charges, and well maintained and serviced building have to do a lot with that.

Again, we (Morgan Evans and Eileen Hsu) are Dorchester residents ourselves, Thanks for taking your time to look at our Dorchester Towers Report, if you are thinking of selling, leasing or buying in Dorchester Tower, we would like to hear from you. We worked with many Dorchester sellers and owners in the building in selling or leasing their condo units therefore we are very familiar of this building, if you have a question, call us today at (917)837-8869.

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