Real Estate

Triple Assessment

440 East 79th Street, Apartment 5DEF

By S.Jhoanna Robledo
Published May 6, 2006

(Photo: Courtesy of Sloane Square NYC)

3,100-square-foot, four- or five-bedroom, four-and-a-half-bath co-op.
Asking Price: $2.9 million.
Maintenance: $3,432.95.
Broker: Amy Tucker Meltzer, Sloane Square.

If family-size apartments are so coveted, why hasn’t this superbly renovated postwar co-op—cobbled together from three separate spaces—sold?

Jacky Teplitzky, Prudential Douglas Elliman: “There’s a lot of demand for two- and three-bedrooms, but when you get to the four-bedrooms, buyers usually want to live in a prewar east of First Avenue,” she says. Still, “the maintenance is reasonable . . . and there’s a good separation between the bedrooms and the entertaining space.”
Her assessment: $2.7 million.

Katie Rosenberg, Warburg Realty: “The living room is open, and the kitchen’s well done,” says Rosenberg, who also likes the glass transoms above some of the doorways. But the apartment meanders: “You lose track of where you are.”
Her assessment: $2.7 million.

Darin Rubell, RP Miller & Associates: “It’s mazy, and that’s the problem with some combined apartments. If you need space, you may need to compromise on that,” Rubell says. But the building only requires a 25 percent down payment: “Most co-ops don’t allow that,” he points out, “which makes it appealing to more buyers.”
His assessment: $2.8 million (to be reduced to $2.69 million if it doesn’t sell within weeks).