building at 166 East 96th Street

This building looks out of place on the block (E 96 to E 95/Lexington to 3rd) since it is surrounded by a school and a public playground. Traffic is extremely heavy on E 96 as it is a main approach to the FDR Drive. The apartments are lovely, some having spectacular views of the river. We consider moving there but felt the area was too busy.

As for 3D, it may be cheaper because of the views. From the photos, it looks as if you see the top floor of the school. The playground and school noises may may reverberate between the buildings.

I think you're answering your own question. The market is saying that the others are overpriced rather than 3D being underpriced. If the room dimensions are accurate, I make it closer to 550sqft so we're then looking at a low floor, noisy apartment, in a building with a part-time doorman. $700 psft doesn't seem particularly cheap in this context. It'll be interesting to see what 14D trades for - you may want to see if the broker on that apartment will give you any insight.

Our broker told us that this building is underpriced and prices will jump when The Kent is up. Any thoughts?