Identical Apartments, Shocking Price Gap #realestate #propertytips

15 Dec 2025 · 1 min

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1:24

In this short on‑site commentary, Conrad Vass of Space Property Agency stands at 265 Crown Street to market Apartment 8, an east‑facing unit that fronts Crown Street. He references a recent sale in the same building—Apartment 2, which sold for $950,000—and explains why the two seemingly identical units command different values. Vass highlights concrete local factors that influence price: the presence of an internal courtyard, proximity to two restaurants, the shared outdoor area, and the higher noise level on the courtyard side. He argues that understanding these micro‑location nuances—how often a buyer will actually use an amenity and the impact of street‑level activity—constitutes true local market knowledge that can prevent buyers from over‑paying.

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It's Conrad Vass here from Space Property Agency. We're just here at the building at 265 Crown Street. We talk a lot about market knowledge and your local area expert, and I just had a chat with some buyers at a viewing we held here earlier today just to demonstrate you don't know what you don't know. We're currently marketing apartment 8. Apartment 8's on the front side, eastern Faces east over Crown Street. Now, they were chatting with me with regards to the most recent sale in the building, which is the one just behind me, apartment 2. You're wanting way too much. That one sold for $950,000. I said, yeah, it did, but as you can see, there is a courtyard and there are 2 restaurants. And yes, you have a Lovely outdoor area, as long as you're okay with sharing it with the patrons just, you know, a few meters up. That matters. You may have the amenity, but how often will you use it? Now it sounds a bit counterintuitive, but the internal courtyard of the building has more noise than what it does on the other side. And that's what local knowledge gets you.