Hey all.. so I saw a place a few days ago that I actually really liked but the price seems high to me. I did a CMA and saw that in the last 6 months other coops similar to this one sold for 245k – 255k.. now this is where the kicker is. The coop is a 2 floor community meaning 1st floor apt and 2nd fl apt. All the ones that sold were ground level facing a street or towards another home, relatively quiet.. this one is directly in front of a bus stop AND its sitting on top of a garage. You look out the living room window and you see the stop and everyone waiting and of course you hear the bus all day/night long. The bedroom sits on top of a manual garage that doesn’t belong to them. This is one of very few that sit on top of a garage as opposed to being ground level. In my opinion, these two points are enough to justify an overpriced label. Also, the home was purchased by the owner in December 2014 for 150k, I have never seen a coop raise in value 110k in just 5 years.
I’d love to hear what you would suggest a buyer to offer on this place. I was thinking somewhere around 225k – 235k.
I’m not sure if i’m allowed to post the address of the property but maybe I can post the MLS # 3167352.