Hello! You'll want to look at recent sales in the building and compare them to similar condo's in the immediate area if there are any. One thing that can keep co op values down or sales sluggish in a soft market are the high maintenance fees. These typically include taxes, amenities and utilities but in a soft market, for buyers looking in a certain price range, they can not afford those fees and therefore will look else where to purchase.
So if this apartment is unique in that it is one of the few places you could purchase for that price, factoring in the maintenance, with special features like great views as you say, then it sounds like it could be a great buy.
The key is to look for other very similar homes for sale in the surrounding areas, as far as someone would be willing to travel to enjoy the same conveniences as this location offers, and look for comparable homes on the market, and homes that have sold very recently. Are they more or less? I would recommend sitting down with a real estate agent to help guide you through this.
Best of luck! And feel free to reach me with any questions.
RE/MAX Gold Coast Realty
(201) 795-5200 xt 332