Pricing in light of similar unit on market

You don't say whether the higher priced apartment is on the higher floor. Generally, assuming the condition of the apartments are comparable, the higher floor warrants a higher price.

The already overpriced unit is on a lower floor. While one would expect the one we're oricing to go higher for that reason given comparable condition, I'm considering how to factor in this comp which is seemingly not reflective of reality. But again, it's hard to say if it really is way overpriced since there were no sales of similar units in the past three years.

Aael921 the best comps are closed ones. Or at least in contract. There are some sellers out there with unreasonable expectations since they hear how much of a sellers market this is. This does not mean that buyers are not savvy, they will not pay a price that seems unreasonable. It will only make you appear more reasonable if they are overpriced, and in this market if you have truly underpriced, you will get multiple bids quite quickly.

It's not a comp until it sells.

Higher floor warrants big premiums over lower floor. Noah from Urbandigs would say 5k per floor in same or similar buildings. This market is moving very fast using comp prices from 6 months ago is ridiculous even 3 months is no good. If this unit is studio or one bedroom then you have to price based on current listings because there is no inventory for this segment and this segment has the least supply and its getting tighter. Look at current listings in your neighborhood for condos, coops and condops and price accordingly to what's out there right now.