Sale at 11-25 45th Avenue #2B

I think this is priced correctly. You are paying a bit of a premium for the HUGE terrace. But even with that, the $ psf is in line with the area. Guest bedroom seems fine to me...

ggman: I think you are right. Just curious, how would you value the terrace? I've read that generally speaking, outdoor space is valued anywhere from 25% to 50% of the value of the indoor space. So, if the price per square foot of the indoor is $800, the price per square foot of the outdoor is anywhere from $200-$400. Does this sound right to you? I imagine access to, usefullness, etc. of the space will also factor into the final price. Thanks!

I think the relative value depends on location. Manhattan outdoor space obviously worth proportionally more. The 25-50% value of indoor space would probably be more appropriate for a normal sized terace not a terrace that is as big as the interior space. High level I would think if you assume 3.5% yield (conservative) and you can fetch an extra $300 (conservative) a month on rent for having the outdoor space, the terrace is worth an extra 100k. That would mean interior would be around 800k which is rather close to the asking of 3B.