THIS IS A MUST READ unit pricing at 3 Lincoln Center Condominium:
166 West 66th Street named Three Lincoln Center Condo is a 60 story tall building and originally built in 1993, as a condo owner you have two very important factors when that effect pricing. Condo units on higher floors and especially when Central Park views are reached, there is a very large increase in price.
The building is about 20 years old now, so some units are still in original but well maintained condition. You will find apartments in various degrees of renovation. If an apartment has experienced a renovation recently the pricing will be heavily influenced. So, when looking at prices please take into consideration:
1. The floor and view from the apartment
2. The apartment renovation
Below is an In-Depth Analysis of 3 Lincoln Center Condominium Prices:
Studio's: 3 Closed Studio Sales Occurred Since January 2014
Price Range: $741,000-$880,000
Average Price per Square Foot: $1550 sq/ft
Closing Price vs Asking Price : On Average the Apartments closed for 2.5% than the asking price. Conclusions: The alcove studio market has a lot of demand, the privacy the alcove provides is extremely valuable. The price point these alcove studios fall into is an entry level price range, so the buyer side demand is strong.
One Bedrooms: 6 Closed One Bedroom Sales Occurred Since January 2014
Price Range: $1,375,000 - $2,000,000
Average Price per Square Foot : $1750 sq/ft
Closing Price vs Asking Price : On average the One Bedrooms, closed right at the asking price. The high was 6% above the asking price and the low was 4% below the asking price. Conclusions: A big price difference between one bedroom sales at 3 Lincoln Center, which leads us back to our earlier discussion that the floor(view and exposure), layout and renovation differences that exist at the building greatly impact pricing. The one bedroom market at the building has a lot of demand because the apartments have a few very desirable features including they are very spacious, have one and a half bathrooms and some can be converted to have a 2nd small bedroom.
Two Bedroom's: 7 Closed Two bedroom Sales Since January 2014
Price Range: $ $2,410,000 - $3,800,000 Average Price per Square Foot : $2365 sq/ft
Closing Price vs Asking Price : There were some large fluctuations on the closing price vs asking price, due to a few sellers pricing very aggressively and then needing to make large price adjustments. Once those adjustments were made down to the relative price range that Two bedrooms have been selling at 3 Lincoln Center, then the apartments entered contract quickly. Most apartments went into contract right around the asking price, but the overpriced listings needed about 10% price adjustments. Conclusions: A big swing and range of the total price differences, a good example that understanding how being familiar with the pricing of individual layouts at 3 Lincoln Center condo is especially important. Overall the price per square foot reflects what other similarly sized apartments are selling for in comparable buildings to 3 Lincoln Center condo.
As condo owners that are looking to sell with the best price, it is absolutely essential to price very precisely to the market. The incorrect pricing usually lead to long time on the market and need to make huge price adjustment later. With so many factors considered in pricing Three Lincoln Center Condo, it is beneficial for serious condo owners to give us a call and we can provide an obligation free guidance in pricing.
Call us today to discuss your 3 Lincoln Center Condo Pricing
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