Are 5 floors and a fake wall really worth $100,000?

111 4th Avenue #10C


111 4th Avenue #5C
We found ourselves asking this question as we looked on with surprise at this listing at 111 4th Ave #10C in the East Village. This apartment (listed 2 weeks ago according to Streeteasy) at $839,000 (huh?) is exactly the same as the also horribly overpriced $740,000 #5C that we saw a couple of weeks ago and that has been on the market since November 2008.

To be fair, #10C is on a higher floor and has a wall that splits the living room into a tiny bedroom plus a tiny living room. I'd probably pay them $10,000 just to get rid of the wall, which (when combined with the storage area upstairs loft, makes this apartment an overpartitioned disaster similar to #5C). It's also no surprise to us that the frequently shady Sotheby's has intentionally removed neglected to add the dimensions of the rooms on the floor plan.