Have any Great Neck Terrace co-ops sold this year? what have they sold for? what have these properties sold for at the peak?

Asked by Zvolley, Great Neck, NY Tue Nov 17, 2009

I like the property because it is near the LIRR and has a pool but just wanted to see what other places have gone for

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6
Arlynn B. Pa…, Agent, Roslyn Heights, NY
Tue Nov 17, 2009
Good Evening,

Since January 1, 2009 there have been 9 units at Great Neck Terraces that have sold. Two were 2 bedroom units that sold for $240,000 each and 7 were 1 bedroom units that ranged in sales price from $175,000 - $208,000.

There are currently 21 two bedroom units for sale between the prices of $239,000 - $338,000 and 22 one bedroom units ranging in price between $$176,000 - $239,000.

Would you be interested in getting additional information and/or looking at any of these or co-op units? I can show you any unit you may be interested in. You can reach me directly by phone at (516)410-3594 or email at Arlynn@ArlynnPalmer.com.

In July 2004 a one bedroom unit sold for $190,000 and in December 2006 a 1 bedroom unit sold for $230,000. Please keep in mind that the information here as well as above is not really comparing apples to apples - these are all different models, in different buildings that are in different locations within the complex!

In the meantime, please visit my website at http://www.ArlynnPalmer.com where you will find FREE Buyer and Seller Reports, FREE School and Neighborhood Reports, my Monthly Newsletter and other valuable real estate information.

If you would like some information on the Homebuyer Tax Credit, I have a video link that I think will clearly explain all the pertinent terms of the bill - please send your email address to me at Arlynn@ArlynnPalmer.com and I'll be sure to get it out to you immediately!

Regards,
Arlynn

Arlynn B. Palmer, ESQ, SRES, CBR, CMS, CNS
Coldwell Banker Claire Sobel
(516)410-3594
Arlynn@ArlynnPalmer.com
Web Reference:  http://www.ArlynnPalmer.com
1 vote
Ellenb, Home Buyer, Manhasset, NY
Wed Jul 1, 2015
Do NOT buy in Great Neck Terrace. I lived there for years and it was horrible, corrupt, full of lawsuits!
0 votes
They also cheat the shareholders out of their full Star rebate -especially those over 65
Flag Wed Jan 6, 2016
Ellenb, Home Buyer, Manhasset, NY
Wed Jul 1, 2015
Do NOT buy in Great Neck Terrace! I lived there for years until I could move up and out. It is horribly corrupt! The board has constant lawsuits, the maintenance goes up every year, they really don't care about the shareholders, they're too busy trying to screw each other (not literally).
0 votes
Arlynn B. Pa…, Agent, Roslyn Heights, NY
Wed Nov 18, 2009
Good Morning,

One of the 2 bedrooms that closed in May, 2009 had a parking spot - charge was $34/month for the outdoor spot.

There are several 2 bedroom units that are currently for sale that have either indoor garage parking or outdoor spots. The indoor garage parking is $46/month and the outdoor parking is $35/month.

As for a "fair price" for one of the units - so much depends on the location of the building (relative to the pool, train station, etc.), location of the unit (first, second of third floor), whether the building is a 2 or 3 story building, the condition of the interior of the unit (whether the kitchen and/or bath has been renovated and to what extent). These are the reasons that you should actually take a look at several units at varying prices to get a feel for what your money will buy in this complex. Because of both the pool and proximity to the railroad station there is always a demand for these co-ops.

I am a REALTOR for many years as well as a real estate attorney. In the normal course of business, most real estate agents represent the Seller, even when we show homes to Buyers, such as yourself! I am Certified as a Buyer Representative and would like the opportunity to explain in detail what this means and how it will benefit you - the Buyer. In brief, I would work for YOU (the listing agent always works for the Seller) - with fiduciary and confidentiality duties owed to only YOU. Additionally, my job would be to negotiate on YOUR behalf so that you would pay the least amount of money possible for your new home purchase. Please note, it is not necessary to hire me in this capacity - I would enjoy working with you in the way that most real estate agents do - I just think it would be to your advantage to have a REALTOR working on your behalf.

I look forward to hearing back from you, explaining how a Buyer's Representative would be beneficial to you, showing you some properties and working with you to find your new home!

Regards,
Arlynn

Arlynn B. Palmer, ESQ, SRES, CBR, CMS, CNS
Licensed Associate Broker, REALTOR
Coldwell Banker Claire Sobel
(516)410-3594
Arlynn@ArlynnPalmer.com
Web Reference:  http://www.ArlynnPalmer.com
0 votes
Patricia Erk…, Agent, Great Neck, NY
Wed Nov 18, 2009
Great Community - Close to everything. \

We have been working in Great Neck Terrace since this complex was converted by MJ Raynes in 198-86. Pricing has certainly fluctuated over the past 24 years. Of course there are many variables. 2 oro 3 story building, location within the 650+ unit complex, parking space or garage, Dining Room or not (2 BR units), storage space or not, or combination of extras. The highs in recent years for 1 Bedrooms (on MLS & private sales) were $240-250. The highest prices for 2 Bedrooms was $315 +/-.

Currently there are 21 - 2 Bedroom units on theMarket - 5 In Contract (we are closing on 2 in the next weeks) and 3 Sold & Closed in 2009 from $275,000 to $240000.

Call if you want to see any of our offerings in GNT or the 1 BR stats and selling prices for 2009.

Cheers,
Pat Erker & Elinore West

Patricia Erker, CRS, GRI, CBR & Elinore West
Fine Homes Specialists - Licensed Broker Associates
Notary Public - WCR Members
Prudential Douglas Elliman Real Estate
11 Bond Street - Great Neck, NY 11021
516.498.2139 cell 516.946.3122

Click to preview OBEO tours for our Fall features
http://www.prudentialelliman.com/PatriciaErker/24233
0 votes
Zvolley, Home Buyer, Great Neck, NY
Tue Nov 17, 2009
Thanks Arlynn! Were the 2 bedroom units that sold with or without a (indoor or outdoor) garage spot? Hmmm I am thinking about it and was wondering what a fair price today would be for a 2 bedroom with an indoor garage in the terrace apartments and what I might expect to spend (at a minimum of course) to see if its feasible for me. do you know what the 2 bedrooms peaked at? If I decide to go through with this I will give you a holler.
0 votes
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