Jackson Heights Life

Hey guys, I just looked at Plaza 75.  Am I crazy to think that $577K is too much for a two bedroom condo in that area? The commute will be amazing because I work in mid-town but still......

that's FAR too much for this area. you can get a much nicer place in a much nicer building for 200K less.  i work in midtown too -- in rock center -- and i live on 35th avenue @ 76th street, so yes, the commute is terrific. but i also look out on trees, gardens and such. and a 2 BR in my building (co-op, not condo) recently sold for under 300K. take a look around before leaping.

and best of luck!

I highly recommend searching for the thread here on the subject of this "luxury" building.  A.  It's not remotely luxurious - no package room, no doorman - the only thing going for it is the views from some apartments (but if it's views you want you might as well go to LIC).  B.  Prices are outrageous, especially for this neighborhood.  C.  There are many more options in Jackson Heights and your commute will still be great.  Check out the historic district - the apartments are pre-war and solid (and huge) and Plaza 75 cannot compete at all with any of these buildings (unless you like thin walls and shoddy construction). 

I think they've sold a grand total of 7 units (out of 58).  I agree that the layouts are poorly designed.  And 700 square feet for a 2-bedroom in this neighborhood?  No thanks.  That's quite a bit smaller than most of the 1-bedrooms I've seen.  I think the finishes are pretty ugly - it's like they chose whatever was just a little more expensive than the cheapest option at Home Depot.  Especially the bathrooms.   

You are being facetious right dssjh? No doorman yet because only 7 units have been
purchased. Not even the 15 yr tax abatement is helping, these days it's harder to get
a mortgage despite low interest rates. Funny how the real estate crowd lists this as
Jackson Heights, while technically it's Elmhurst.

not being facetious at all. there are once ridiculously overvalued condos in LIC that have been sold at absolute auction in recent months at one quarter of their asking price. it won't take long for that to happen here.

You are expecting too much.This can not be like that.Although they are expensive but not at this level;.

I have seen Plaza 75 and other new apartment buildings in Flushing, Woodside, Astoria and Brooklyn.  They all have the same layout and are priced almost the same depending on location (proximity  to transportation, groceries, schools).  In general,  condos cost more than coops because one can easily sell or rent them out and do whatever with them without going thru coop Board. Plaza 75 is definitely not a luxury building compared to those so called luxury buildings in Manhattan (as a matter of fact the granite in the kitchens are used for city sidewalks and church/school steps, etc) but they do have a video doorman which most new apartment buildings use.  So there are pros and cons in buying apartments in new and old buildings in terms of space, price, modern and efficient heating and cooling systems, etc.