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Priced well? Or is the maintance too high for a 1million dollar price tag...
Seems rich to me
Maintenance is a bit high, and prices correspondingly lower, because the co-op carries a hefty underlying mortgage.
It used to lease the land, but bought it in 2004, taking out the mortgage to do so.
How big is the mortgage?
$13,500,000, $12,000,000 of which was for the land.
It is my understanding that the commercial space is independently owned.
Worth it at 900k ?
Don't know. There're lots of Third Avenue 1960s buildings that went co-op in the early 1980s. Pick a few and run their numbers. They might even out, roughly.
On ACRIS there's a 1980s 50-year lease of the commercial space to the sponsor. Don't know what the story is now, but the co-op does own the commercial space.
You'd think that the broker for a place with unusual numbers would have the financials ready at the get-go, to answer the obvious questions.