Condo Turned Rental Building at 40-07 73rd Street Closed for $20 Million
Newish building 40-07 73rd Street, which is arguably in either Elmhurst, Woodside, or Jackson Heights, just hit public records for the big price of $20,000,000. The buyers just listed the building as a rental, known as the Roosevelt, a few weeks ago. Two-bedroom and three-bedroom units are still available from $2,200 to $3,600 a month….
Newish building 40-07 73rd Street, which is arguably in either Elmhurst, Woodside, or Jackson Heights, just hit public records for the big price of $20,000,000. The buyers just listed the building as a rental, known as the Roosevelt, a few weeks ago. Two-bedroom and three-bedroom units are still available from $2,200 to $3,600 a month. (Word is that the leasing is going well.) Before the building sold, it was marketed as a condo to little success.
Rental Listings Live for 40-07 73rd Street [Q’Stoner] GMAP
Nobody is going to want to buy there – literally overlooking the 7 train – when you can get an older, probably better-built apartment a couple of blocks away from the train and the noise for the same price.
For any person living in this area with a common sense, there is no doubt that this building is in Elmhurst. However, there is this thing called zip code. Anybody can type the the address 40-07 73rd Street at usps.com to find out its zip code is 11377, which is associated with woodside. I just recently found that the building also has another address (73-02 Roosevelt Ave), oddly enough, the usps.com gives its zip code of 11372 (associated with Jackson Heights).
Granted, using the zip code to check out the neighborhood boundary is a little bit outdated, but the broker wants to manipulate it to its own advantage. I think the very first advertising in Woodside was sort of OK because of the 73rd street address. The new advertizing associated it with Jackson Height is not that Kosher unless the Roosevelt Ave address is used. Presumably the brokers want to have the positive image of Jackson Heights, but the negatives associated with Roosevelt ave address.
The site is in Elmhurst on the Jackson Heights border. Not much ambiguity on that score, since everybody seems to agree that Roosevelt is the border between JH and Elmhurst and that the BQE is the border between JH and Woodside.
Yup, Elmhurst.