WOW. We own a '3' bedroom 2 full bath co-op in the Greystones. The 3rd bedroom is the 'maids' room and right off the kitchen but we use it as an office.
If I read the attachment correctly the price should be around 900K? I don't think the Greystones have gone at that high a price...yet.
Hi petegart, and Happy New Year everyone!
Good question, and the answer is truncated somewhere within it. Granted past year's numbers are averages, yet they provide a good matrix as to where the ESTIMATED value of your property today MAY fall. Ultimately price is decided by the market and a buyer's willingness to pay a price.
It is important to keep in mind that Colonial Court had not seen a 2 bed 1 bath sale at 620k, Monroe did not see a 2 bed 1 bath sale at 600k nor did the Berkeley at 2 bed 2 bath sale at 750k. Yet those were our closing numbers. We closed several 1 bedroom sales north of 400k last year as well. So it is not to say a new record sale in the Greystones is not in the near future.
Now in connection with your individual unit, it would be most important to clearly determine if your layout historically has traded as a 2 bedroom 2 bath with a 'maid's room, rather as a 3 bedroom, ( and I believe that is what the larger Greystone layouts are like ) which would comp it out BETWEEN the 2 bed 2 bath values and 3 bed 2 bath values. So depending on the quality of your finishes and provided it is a turn-key home, blind assessment would be between 775 and 825k.
And to simply answer your question, yes, values have definitely been rising year to year since 2011 at a very steady pace.
Happy 2017 everyone!
Topic: Jackson Heights Real Estaet Listings 2016 Year End Review (Read 3086 times)