Astor Terrace Condo: Upper East
A: I am starting a NEW Category called "Buildings I Like" in the hopes of pointing out exceptional buildings to live in when compared to its peers. I will use quality of service, financial health, location, current pricing levels, and amenities as factors in determining buildings I like! The Astor Terrace Condiminiums is an award-winning luxury building in the upper east side on 2nd Avenue between 93rd & 94th streets.
As for the immediate neighborhood, its changing! Within blocks you now have a Yura Bakery & Restaurant, Blondie's Sports Bar, Brother Jimmy's Bait Shack, Parrot Bay, Don Pedro's, Kebab Turkish Wraps (NEW), Milano's Italian Gourmet, Hokkaido Sushi (NEW), Nicks Pizzeria, Zeytina Fine Foods, Delizia Italian, Tony's Family Style, The Vinegar Factory, Schaller & Weber Meats, Papaya King, Carl Schurz Park & Gracie Mansion, Central Park, 6 Trains at 96th & Lex, new B-Ball & Tennis courts, a newly renovated Rupert Park, Rainbow, and almost anything else you've gotten used to as a new yorker!
The building has its own private driveway between 93rd & 94th streets right off of 2nd avenue, which allows residents to easily drop off, pickup, load the car, or park in its attached garage. Above the underground garage which is right across from the building lobby, is a private gated garden with waterfall for residents to use. At night it becomes a popular place to meet other residents for a bottle of wine.
A 24HR doorman plus concierge provides security and convience for those who live in this very well maintained building. With 3 elevators plus a huge service elevator for move-ins, porters and contractors residents are able to get up and down without much of a wait.
The building reserve fund is still over $1M even with the recent required building inspection and maintenance work that was completed. maintenance costs are relatively low when compared to other buildings without tax abatements, but the service is sure to be of much higher quality. Those who live in Astor Terrace know and tend to stay there for a long time.
All in all I believe this building to be trading at a discount, when I compare it to its peers in the neighborhood. You could expect to spend about $850/Sq. Ft. or under for a 1BR at Astor Terrace, when other condo units are selling closer to $950/Sq. Ft.. In this tight market, buying a property in a good building at a discounted price is a feat very hard to accomplish. So if your looking in the Upper East side be sure to check out whats for sale at this building. Its worth the trip over!
Comments (2)
I think another reason fees are not being paid and free months not offered is that prices have come down. Apartments are moving but part of the reason is that prices came down to a point at which they will move.
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