Author Topic: 1 bed apt in historic district under 400k  (Read 11401 times)

Online JH3525

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Re: 1 bed apt in historic district under 400k
« Reply #30 on: May 24, 2016, 02:09:50 PM »
The maintenance for this top floor one bedroom at the Belvedere 35th Ave is just $637.  I have an almost identical apartment in the 70's on the 2nd floor and my maintenance is $747.  The top floor would be very close to $800.  I've always liked the Belvedere buildings and the garden is spectacular. 

Offline Shelby2

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Re: 1 bed apt in historic district under 400k
« Reply #31 on: May 24, 2016, 04:51:11 PM »
The maintenance for this top floor one bedroom at the Belvedere 35th Ave is just $637.  I have an almost identical apartment in the 70's on the 2nd floor and my maintenance is $747.  The top floor would be very close to $800.  I've always liked the Belvedere buildings and the garden is spectacular.

The spectacular garden belongs to the Belvedere East-West coop (entrances on 84th St. and 85th St.)  This Belvedere top floor unit listed is in the Belvedere itself (entrance on 35th Ave).  Of course, if you happen to live in the Belvedere on 35th Ave and your windows look onto the garden in the back, you would have a very nice garden view, even if said garden belongs to the other coop.

Here's a little more info on the buildings:
The Belvedere East and West
The Belvedere

This pic is from jacksonheightslistings.com.  The left and right hand darker red brick buildings are the Belvedere East and West coop, with their garden in between.  The bright red building at the end is the Belvedere on 35th Ave.

Online JH3525

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Re: 1 bed apt in historic district under 400k
« Reply #32 on: May 25, 2016, 10:27:45 AM »
Question:  Can the owners/residents of the Belvedere 35 Avenue use the Garden?

Offline Shelby2

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Re: 1 bed apt in historic district under 400k
« Reply #33 on: July 05, 2016, 09:21:58 PM »

There's another one bedroom for sale in the Belvedere listed for $399K.  It has a door in the living room to a tiny balcony so that might entice some buyers to pay more.   The kitchen looks like it was gutted and a new fridge put in, but the cabinets look temporary so the new buyer would need to pay for a new kitchen.   Not sure about the bathroom as there's no photo. http://streeteasy.com/building/84_02-35-avenue-jackson_heights/6a

That's a nice 1BR - great floor plan. I always wondered what that balcony looked like close up. Charming.

The asking price on that one with the balcony just went up by $21,000, so it's now $420,000 instead of $399K.  It's been on the market for 69 days.  I'm not sure what causes an asking price to go up.   Can't buyers just overbid if they really want the place? http://streeteasy.com/building/84_02-35-avenue-jackson_heights/6a?featured=1

Online JH3525

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Re: 1 bed apt in historic district under 400k
« Reply #34 on: July 06, 2016, 09:47:48 AM »
A one bedroom at the Belvedere 85 St on the 1st Floor was just listed at $389,000.  Also, two similar size one bedrooms both on the 1 St floor of the Berkeley 77 St & Berkeley 78 St were just listed for $399,000. 

Online JH3525

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Re: 1 bed apt in historic district under 400k
« Reply #35 on: July 23, 2016, 10:19:53 AM »
Shelby2:  There are now two large one bedrooms available at the Belvedere 35 Ave.  The one you mentioned on July 5 for $420,000 (6A) and just listed is the same apartment on the 3rd Floor for $425,000. 

Offline Shelby2

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Re: 1 bed apt in historic district under 400k
« Reply #36 on: July 23, 2016, 12:04:43 PM »
Shelby2:  There are now two large one bedrooms available at the Belvedere 35 Ave.  The one you mentioned on July 5 for $420,000 (6A) and just listed is the same apartment on the 3rd Floor for $425,000.

I guess it's the same line, but doesn't have that sweet little balcony that the 6th floor unit has.  I would think the balcony, even though it's tiny, would add some value.  However, the asking price of the one without the balcony is actually $5K higher.  It would be so nice to have a door to open to the outside! 

This is the link to the one without the balcony http://streeteasy.com/building/84_02-35-avenue-jackson_heights/3a
With balcony http://streeteasy.com/building/84_02-35-avenue-jackson_heights/6a

It seems like both need kitchen renovations.

Offline frances

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Re: 1 bed apt in historic district under 400k
« Reply #37 on: July 24, 2016, 02:17:23 PM »
I saw the apartment on the 6th floor. The kitchen was fine, I thought (I'm moving from a rental, so my standards are admittedly low). I recall thinking the bathroom needed renovating. Great layout, amazing closets. It was more than I wanted to spend, but it seems like 1 bedrooms are getting really pricey.

Offline CaptainFlannel

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Re: 1 bed apt in historic district under 400k
« Reply #38 on: July 24, 2016, 02:54:37 PM »
I saw the apartment on the 6th floor. The kitchen was fine, I thought (I'm moving from a rental, so my standards are admittedly low).

I think the idea of what a "needed" renovation is has changed. Like, a renovation is literally needed if you can't use the space for its intended use. Anything beyond that is a want. And, I'm not sure how much ROI there is in tricking out your okay kitchen with middle grade finishes to a spectacular kitchen with high end finishes in a real estate market where prices are rising. (Complete dumps on the market over the winter and spring sold in my apartment complex for a decent chunk of change. Far more than what we paid for an apartment in better condition a little under two years ago.)

I thought the photos of the kitchens were fine. Could I see someone wanting to change it? Sure, but it's not like those kitchens can't function in the meantime or that cooking in them would be a dreadful experience.

For what it's worth, one of the selling points for me on our current apartment is that while the kitchen was very dated, it was functional and we could use it no problem while we saved money for an eventual renovation.

Offline Shelby2

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Re: 1 bed apt in historic district under 400k
« Reply #39 on: July 24, 2016, 05:34:39 PM »
I saw the apartment on the 6th floor. The kitchen was fine, I thought (I'm moving from a rental, so my standards are admittedly low). I recall thinking the bathroom needed renovating. Great layout, amazing closets. It was more than I wanted to spend, but it seems like 1 bedrooms are getting really pricey.

My standards were really low in terms of kitchen renovations when I bought my apartment, as well.  Perhaps my understanding of the market has changed.  In any case, something has changed in terms of my perceptions.  When I look at the photo of the kitchen on the 6th floor apartment, what I see is an extremely basic -- almost removable -- kitchen that seemed like it was put there practically as staging.  To me it looks like it's intended to give the buyer an easy way to remove what's there so they can begin their kitchen renovation easily.

On the other hand, perhaps it's perfectly decent and someone spending $420K on an apartment would be fine with leaving it as is.


Offline CaptainFlannel

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Re: 1 bed apt in historic district under 400k
« Reply #40 on: July 25, 2016, 09:14:58 AM »
I actually thought that listing used renderings to add furniture in the photos. I wasn't sure about the kitchen, but I think that's real stuff in there. If it is, the kitchen isn't awesome, but it's serviceable and not falling apart. I guess we'll see what the market has to say about it.

My gut says that JH is becoming a more desirable neighborhood, so much so that buyers will be willing to accept middle grade finishes that were standard in middle class households a decade ago in order to get in before prices become unreachable. Asking prices now are high enough that today I wouldn't be able to afford the 1 bedrooms that have sold in the last 6 months, including an estate sale I saw that was in such bad shape it made me sad to think someone had been living in those conditions.

Offline Minimal4me

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Re: 1 bed apt in historic district under 400k
« Reply #41 on: September 18, 2016, 09:06:02 AM »
When I see the words gut renovated kitchen, I expect a room that now maximalizes use, new cabinets, stone countertops and high end appliances -- IF the asking price is top of the range for comparables. Many buyers, especially the kind coming in now, will be willing to pay top of the range for a great kitchen that they don't have to oversee the renovation on.

When a kitchen has a serviceable layout, older but still in good condition cabinets, laminate or tiled countertops and older appliances it's not comparable to the above and I wouldn't expect to pay top of the range.

I personally would rather buy the latter and do my own renovation to my own taste - but I wouldn't pay a top of range price and then lay out even more cash to give it a true renovation. And what I love to buy is one that hasn't been touched in decades with an asking price that reflects that condition.

What's sad to me to see is a half-hearted renovation with builder grade cabinets, cheap granite and plastic stainless "look" appliances. That means someone just spent $10k to $15k to put put in a kitchen that I would need to replace, which means I'd be paying for their renovation (as assumably they've raised the price because it's "renovated") plus my own renovation. Which I wouldn't do. If I'm going to have to renovate, the home can't be commanding a top of range price.

Jackson Heights Life

Re: 1 bed apt in historic district under 400k
« Reply #41 on: September 18, 2016, 09:06:02 AM »