Residential deals

Oct.October 01, 2014 07:00 AM
1280 Fifth Avenue

1280 Fifth Avenue

Upper East Side
$3.76 million
1280 Fifth Avenue, 18B

Three-bedroom, three-bathroom, 1,756- square-foot unit in a condominium building, One Museum Mile. Apartment features Central Park views, hardwood floors, and an open kitchen. Building features 50-foot art-glass wall, landscaped roof-deck with swimming pool, residents’ lounge with fireplace and card room. Maintenance $2,382 per month; taxes $48 per month (abated). Asking price $3.65 million; 20 weeks on market. (Brokers: Victoria Rong Kennedy of Citi Habitats; Tom Postilio of CORE.)

“The buyers were from Beijing. They knew what they wanted, but not what they needed. I didn’t even know what their budget was! Six months earlier, they’d bought a ranch in Washington, D.C., on the Potomac, for $2 million, so they wanted something with trees. But they have kids, and they wanted access to the schools on the Upper West Side or Upper East Side. This apartment has views of Central Park from every single room. Even the kitchen! And it’s facing south, southwest, so it’s looking directly into the park. You could get into a co-op for $25 million and that’s only going to get you a view from your reading room. We walked in, we walked out. Five minutes later, the deal was done.”

Victoria Rong Kennedy, Citi Habitats

Upper East Side
$870,000
404 East 76th Street, #10D

One-bedroom, one-bathroom, 711-square-foot unit in a condominium building, the Impala. The building features a bike room and children’s playroom. Maintenance fees: $864 per month; taxes: $859 per month. 41 days on the market. (Brokers: Natalie Baghdadi, Bracha New York at Keller Williams; Tristan Harper and Shannon Dunne, Douglas Elliman NYC.)

“A client who I’d helped find a one-bedroom to rent referred her friend to me. Her friend was from Hong Kong and she was looking for a place to co-purchase in New York with her son, near his office. They came in with sort of an entourage — friends, family and family-friends, who all already live in New York — and we went on sort of an organized real-estate tour of the city. I showed them everything in their budget near his office. The seller and the buyer were $5,000 apart and neither wanted to budge — but eventually we got them to meet in the middle. There is a lot of money coming in from China right now, and it’s very high stress when the buyers come to visit. I have to be totally on my game and get the right apartment, because if I don’t, they’re gone.”

Natalie Baghdadi, Bracha New York

Long Island City
$1.16 million
4-74 48th Avenue #6A

Two-bedroom, two-bathroom, 1,200- square-foot unit in cond-op building. Features a private terrace, views of Manhattan and the East River. Maintenance fees: $3,000 per month. Asking price: $1.1 million; 24 weeks on the market. (Brokers: Antonia Watson, Keller Williams NYC; Jani Jaatinen, Keller Williams NYC.)

“This was really a very unique home. The terrace alone is one of a kind, almost 2,000-square-feet — so almost twice as big as the apartment itself. Inventory is very low in Long Island City right now to begin with, and we ended up in a bidding war with I think three different buyers, all paying all-cash. The buyers who closed were a family of four, moving from only a few blocks away. The kids’ grammar school is in the bottom of the building. That’s a very easy commute! A lot of the traffic to see the place was local, just a handful of overseas buyers. This isn’t uncommon; Long Island City is very community oriented — not a lot of foreign buyers just looking to park their cash.”

Antonia Watson, Keller Williams NYC


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