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Author Topic: Madison Building  (Read 2923 times)

Offline nicgerdes

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Madison Building
« on: July 24, 2008, 08:29:37 PM »
Hello! My husband and I are considering an apartment in the Madison Building at 35-06 88th Street. Anyone have any thoughts/input? We are a little worried that everything is a bit "over priced" right now. I read both of the recent threads on JH sales; but still wondering if anyone has more thoughts on a 2 bdrm(2nd bedroom is SMALL) prewar apartment...mostly in terms of pricing!!!

Thanks and we hope to be moving into the area soon!

Nicole
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Offline Shelby2

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Re: Madison Building
« Reply #1 on: July 24, 2008, 09:16:40 PM »
It seems like sale prices really change from building to building.  If you know you want to be in the Madison, then you could check comps in that building.  You can look up that building for free on www.propertyshark.com . I just took a quick peek and saw that there were 4 sales in the past year at 300K, 340K, 370K and 455K.  It's impossible to know the condition of the units just from propertyshark, but you may be able to determine how many bedrooms/bathrooms if you know which unit number corresponds to which kind of layout.

Have you checked this thread:
Need help evaluating price of Real Estate
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Offline nicgerdes

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Re: Madison Building
« Reply #2 on: July 24, 2008, 09:20:01 PM »
Thank you! I did see the other tread, and we have checked property shark! Just a little bit of cold feet and wanting to make sure we don't "over-pay" for the place!

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Offline buddy

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Re: Madison Building
« Reply #3 on: July 25, 2008, 11:15:30 AM »
Quote from: nicgerdes on July 24, 2008, 09:20:01 PM
Thank you! I did see the other tread, and we have checked property shark! Just a little bit of cold feet and wanting to make sure we don't "over-pay" for the place!

It's been so long since I bought my co-op I can't remember this.  Don't you have to have the apartment value appraised before you buy it?  In which case if the appraiser says the apartment is worth less, you can legally back out?  I think that's the case anyway.  I know I just had an appraisal for my cottage and I was told that.  (In my case the purchase price and appraisal price were the same.)  So I don't think you can over pay unless you decide you love the place and want it no matter what.
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Offline eddiestjohns

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Re: Madison Building
« Reply #4 on: July 25, 2008, 10:23:15 PM »
A friend of mine sold an apartment in that building 2-3 years ago.  The apartment was big and she liked it.  However her bedroom faced the street and she said there was a lot of noise coming from the residents across the street and it was very noisy on weekends.  If your bedroom faces the front you might want to drive by between 10-12 on  a weekend night.
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Offline spanishfish

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Re: Madison Building
« Reply #5 on: July 26, 2008, 01:07:57 AM »
If you like the place and you can afford it, that's all that matters.
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