Sale at 205 East 78th Street #18C

High maintenance for the size (possibly because of the terrace)- but maintenance in this building seems to be on the high side in general. Living/dining area is small, and second bedroom small as well.

BUT, is prewar, which usually adds to price, seems like a nice renovation, and the terrace is a usable one, so if in contract at less than asking, may not be a bad deal.

#20C, the same plan but no terrace, and not as fully renovated, sold for $860,000 seven months ago: http://streeteasy.com/nyc/sale/358249-coop-205-east-78th-street-upper-east-side-new-york

When the living area is so small, the terrace might count for even more. A listing discount of more than 10% would be unusual, so I'll guess $1,400,000. That's still a huge premium for terrace and renovation, but no telling what other people's priorities are, or how much the rarity factor adds.

Impact of the development site next to 205 E 78 on the terrace, was it a factor in pricing?