as with the rest of the market, there has been a recovery at garden court.Â many weeks there are none for sale.Â Several one bedrooms this spring sold off market or in a week.Â One bedrooms are pricing generally from 140-180k.
recent sales include larger units well into the 300s...all this excitement hasn't been slowed by the new special assessment.Â the current board is being proactive and has planned for the care of this elegant complex.Â as a general rule, the new owner will assume the higher condo fee (called a special assessment fee) rather than the seller payingÂ it off.Â Â in rough numbers, if the condo fee is 400, the special assessment is close to 100...its approx 23% of the condo fee. So a unit with a 820 condo fee now pays about 995.Â Â
Condo fees in the building pay for common maint, heat, hot water, pool, gym and courtyards.Â There is also a "free library" maintained on site for avid readers.
If you are looking to buy or sell, I am the Garden Court expert
almost sold out, 13 remain from 379k to 2.2 million.Â www.westernunionbuilding.com
1bed+den,Â approx 1100 sq ftÂ - 195,000
4 bed, 3.5 Bath , approx 2400 sq ft, 301,500
3 bed, 2.5 bath, 2020 sq ft - $235,000
values varry based on size, Â floor and more importantly condition.Â I am a former owner and love this complex. Garden court condo is from 46th to 47th between Pine and SPruce. It has 8 buildings, each with separate elevators, a pool and gym
Garden Court Condo is approx 116 units located between 46th and 47th on Pine St and between spruce and Pine on 47th.Â This complex has a great pool and newer gym. It is 8 buildings, 6 of which flank 2 nice gated courtyards with nice plantings and water features.
In 2011..there have been some great sales, including a record $300,000 sale recently.Â There is much space ...one bedrooms from 750-1200 sq ft, 2 beds from 1200-1500 sq ft, 3 beds from 1800-2200 sq ft and 4 beds at 2500 sq ft.
The "elevator assessment" is coming to and end at the end of 2012. Many savvy buyers have made sellers pay it off at closing.
I have sold many unit there (over 20) and even 3 transactions this year.
i used to help 1 renter a month, its now about 4...many more people are looking to rent and supply is very short...i live in a luxury building with approx 20 rentals...all full and all many with a waiting list if ever vacant...i have seen rents rise 20% in the last two years...i look forward to seeing that eventually make buying a good choice.Â its getting to a tipping point...i am interested in more comments.
public records are only updated periodically, according to the most recent info, the 2011 sales info are:
unit 7H sold for 518,918 and isÂ Â Â 1,467 sq ft (may)
unit 8A sold for 550,000 and is 1,314 sq ft (feb)
Unit 18H sold for $635,000 and is 1467 sq ft (april)