Making an offer without comps?

You seem to be on the right track. A problem with pure average Sq/Ft price computations is that not all sq/ft are created equal. Studio sq/ft are worth a bit less than one bedroom apt sq/ft and so on. One is always likely to pay more per sq/ft for a 3-4 bedroom, for example, because the supply of these apts is lower and demand is higher thus drivinig up the price per sq/ft beyond what a studio in the same building might sell for. Views, light, condition of apt are factors, but you no doubt realize that. Good luck. In this market I wouldn't be helping the seller to set any new records in the building.

Many thanks kylewest. It most likely would be a record for the building since the apartments in it rarely change hands (it's a 90 unit bldg). It seems most likely the apts have not been renovated as people have been there so long. This one has been renovated (90%), still, it makes me nervous and there is no way they will get asking. Thanks again.