Jackson Heights Life

Courtesy of MPC properties, we have the highest listed apartment that I've ever seen. Appears to be a two apartments above/below each other that were combined.

Ask: $949k
Monthly Maintenance: $1,600
Building: Hampton Court 35-45 78th Street
Features: Four bedrooms, two bathrooms, duplex, upgraded
Square Feet: Unknown
On-site parking: No

http://realestate.nytimes.com/sales/detail/2007-500A69A07605A/35-45-78th-Street-QUEENS-NY-11372

I must say, the pictures show a truly beautiful apartment. The laundry room / walk-in closet on the top floor is a knockout. I like the location of the building as well, close to the express subway stop but just far enough from the hectic-ness associated with Roosevelt Ave and 74th street.

The lack of a square foot number worries me. To justify this price, I would expect at least 2k square feet, which would still price this apartment higher on a per square foot basis than nearly any apartment sold in the neighborhood. If the apartment is more around 1600 square feet, we are talking about close to $600 / square foot. An unheard of price in Jackson Heights. But, this apartment is unique. At $450 / square foot, I would seriously be considering it.

What do you guys think?

I'm always a bit surprised at the bathrooms.  You'd think for a million dollars you'd at least get a sink with a cabinet underneath instead of a tiny stand alone sink.  But I grew up in a rural area so I tend to look for more storage space.

Brownstoner Queens just picked up this thread
http://queens.brownstoner.com/2014/08/this-jackson-heights-co-op-apartment-is-asking-close-to-1-million/

The duplex is on the 4th and 5th floors.  A few months ago we took a look at the apartment below that on the third floor, which we liked, but we shied away due to the litigation issues the building was having with the apartment. 

Now also (finally) picked up by Curbed.com
http://ny.curbed.com/archives/2014/08/11/would_you_pay_1_million_for_a_jackson_heights_coop.php

Shelby - I'm thinking the old adage ( & Field of Dreams) --Seek & You Will Find, will not apply to the price of this duplex.

I am hoping the architect was paid in full because that was a huge renovation.

Thinking positively, I don't think the buyer will have to belong to BLINK for exercising.

4th & 5th Floor?? I have to lie down now and get my breath.

A shame really. I'm assuming 4th floor means three flights up. It's not the end of the world but it will hamper the sale of this unique unit at this price point. Especially when you consider most apartments of this size and price would be considered mainly by families with kids in tow -- you can only imagine that multiple daily treks up and down the stairs would get old really quick.

Have an elderly parent that you would like to come visit you? Scratch this apartment off the list. A dog that you need to walk several times a day? Better to consider other options.

Regarding the maintenance charges, I would've thought that these buildings would have paid off any underlying loans by this point and built up a good reserve fund so the maintenance seems higher to me than it could and should be.

Along comes the first pricechop to this listing.
decrease of $54k (or 5.7%)

http://realestate.nytimes.com/sales/detail/2007-50192150C1E6E/35-45-78th-Street-QUEENS-NY-11372

MPC is slick about it though - they cancel the original listing and put up a new one.

It was overpriced at $1mil+ but at this reduced price, it will move. You can't find a 2BR in Brooklyn at this price much less a 4br!

 I disagree with some posters who didn't see the value in the kitchen and bath remodel. It's been overhauled but looks like it was always there. That's what we look for.  We, the Brooklyn transplants who are used to spending 800k fir a 2BR and for whom this will seem a bargain.

We don't all want farmhouse cabinetry and granite countertops. Do that if you love it and plan to live in it a while but it's not a resale plus.

I love the jade bathtub and sink in that second bathroom! Keep original detail when you can, resellers.