Looking to buy a 2bed/2bath 1000 to 1200 sqf condo for ~$650k. Any suggestions?

you can barely get a 1 bed coop for that price and thats 750 sq ft in manhattan...condos are more expensive..esp if you want a 2 bedroom.....if you cant settle for 1 bedroom coop in manhattan than you should go to brooklyn ...

I think you will need to go to Brooklyn or upper manhattan.

check out near 4th ave in park slope

Consider Spuyten Duvil, the southermost part of Riverdale. Not especially "happening" in terms of nightlife but you can definitely get what you are looking for in a building with lots of amenities--and amazing views of the Hudson and/or Harlem Rivers and Upper Manhattan. If Grand Central is a convienent commute for you, you can get there in 25 minutes!

http://www.streeteasy.com/nyc/building/371-west-117-street-manhattan ... especially the 5th floor one.

They've both been on the market long enough that you should take the asking price with a grain of salt. Also, they were bought at much (much much) lower prices than those asks.

35-year tax abatement/exemption with more than 25 years left.

If interested, I recommend you make contact through a good, smart broker (like frequent helpful-poster Ali R. on this discussion board).

I was looking in Manhattan but am now considering Riverdale. Anyone have any insight on RiverPointe condo?

In prime Manhattan your not going to find what your looking for. MAYBE you can find a junior 2 bedroom with 1 bathroom. But that is about it.

toby didn't specify prime Manhattan. In fact, he didn't specify very much at all besides price, BRs and sf.

I agree that the 2nd bath might be hard to find, and it might wind up being more in 850-950 sf range.

http://www.streeteasy.com/nyc/sale/437525-condo-58-60-west-106th-street-manhattan-valley-new-york

http://www.streeteasy.com/nyc/sale/443728-condo-7-west-104th-street-manhattan-valley-new-york

nothing to add, just always hated the name toby... almost keeled over when wife suggested that for the wife..... always like Lance... : )

Lance is a great name for a wife...stupid name for a boy tho.

I think you should look Upper East, far east like York. I think you are on the edge of what is doable. Its not out of the question. Also maybe Upper West in the low 100s around Broadway or West End.

The Kalahari has hit that range. They were extremely negotiable recently. Don't know what they'd take to get the last ones sold.

http://www.streeteasy.com/nyc/sale/378750-condo-40-west-116th-street-central-harlem-new-york

This one's not that far off.

http://www.streeteasy.com/nyc/sale/349734-coop-444-east-86th-street-yorkville-new-york

alpie, your ignorance is usually just annoying. but in circumstances like this it is also misleading.

sorry, that second one was a coop. the kalahari is a condo.

Aboutready you are so right about Alpo. Don't get into a discussion about prime manhattan with him. For one, the person who started this thread never said prime. Secondly, he once railed on me that 95th between Madison and 5th Ave was not prime. And for thirdsies, this PS 290 gets rated very highly.

This Yorkville place is exactly what I was talking about. Don't buy in Harlem yet.

one suggestion: WAIT

Thank you everyone.
Aboutready - I like the location of the Yorkville co-op. General question, can I rent out a co-op if I had to leave the city for a couple of years. My understanding is that co-op boards to allow rentals.
Thanks

Most dont allow renting. Many that do have many restrictions. They are a peculiar NYC/near burbs concept.

rhino, it depends on the coop. tobytoby, many of the coops have owners that are under some economic pressures currently, and wish to rent. most of the less restrictive coops allow for some rental period, although it might just be one year. some will be stricter now. it would be difficult for you to rely upon it as it wouldn't really be something that would endear you to a coop board right now.

if you don't think you'll need to rent out a unit for a few years, and the coop has a limited history of rentals, and the by-laws allow for a certain rental period, you'll probably be OK but i'd still be very careful. if you can wait, i strongly believe that condos will hit a similar price point in the next yearish. i'll keep my eyes open for you.

This search turns up quite a few: http://www.streeteasy.com/nyc/sales/nyc/type:D|price:-660000|beds=2|baths=2

NWT, if you include coops the listings are getting significantly better. and for anyone who is serious i'd suggest the $10, although the general search options suck so horribly it's unbelievable. but for a given building the info can be invaluable.

many think 2001 pricing won't return. 8 years ago, and two huge bubbles. for those of you who prefer to keep the dream alive, remember that coop prices for two bedrooms was around $500psf then. And that was considered crazy high at the time.

the people i feel very sorry for are the first time buyers. so little info. so little perspective.

for your info Rhino, when most people say Manhatan, they mean prime. I doubt the OP is interested in living on 150th St.

alpie, yo fucktard, i didn't see anyone suggesting 150th st.

get your facts straight, although i know it's tough for you.

I would suggest to not buy a coop if you think you might have to rent it. We try to rent in 3 different coops and got refused each time. Yet we had offered to pay upfront 2 years in one case, and one year in another case. Excellent stable job with big US company, 3 bedrooms + DR for three small children. One of the owner was so furious, he came back from Asia to make a big scandal. It is true that we are foreigners but you don't want to have to restrict yourself to a small market.

Alpo you fucking moron do you forget when you denied 95 and Mad was prime? The best part about that example is that the block is prime within prime south of 96th manhattan.

I say York and you say hey Rhino who wants to live at 150th street. Seriously do better. Be a better fucking idiot. You are somehow managing to fail at being an imbecile.

why do you still post here? WHy don't you just move your fat ass to CT already?

dog shit breath: he who lives in a dog house should keep his mouth closed.

150th St. ... 150th St. ... hmmmm .... isn't 150th St. opposite ... wait ... Alpine NEW JERSEY, where you live your nonprime little life?

haha... nice view to the palisades from there esp. from 60/70/80/100 Haven, a Columbia Med housing...

lmao "be a better...idiot" LMAO.... gotta peel myself from anonymous board and get some ice cream...

Alpo, I am not sure how you make fun of me considering CT someday while you own in shithole NJ? You are never going to be able to sell that place. So actually, why don't you take your sorry ass to NJ and stop posting? You get nothing but negative feedback here. What keeps you coming back? Are you a glutton?

Honestly, I think this is a great thread. This is the basic question - who is out there at what price points to support the market. This could not have been as much of a discussion at the peak. I honestly think when there is a bigger selection of 2 bed/2 baths in the $500s and $600s that could put in a floor. Gonna take time .

I suggest you get a realistic budget

broker in the house.

asshole too.

Also stupid, after we have found a number of reasonable options.

You should look at Long Island City too. Especially if you want a place that can be easy to rent if need be.

You mean because of Section 8 vouchers?

If you buy in LICC and plan to rent, plan to lose money unless you plan to put 50% or more down. If the rental market is weak in Manhattan, I can't imagine what it is in LICC.

Thanks everyone for all the information. It seems with our price range, our options are Central Harlem, Long Island City, Rosevelt Island and some part of Brooklyn.

Hey Eric, why do you suggest to wait?
I agree that prices will drop further but don't you think that buyers now have a good negotiation upper hand. From what I see, it seems that deals are made at about 20% below asking. That's pretty good I think, don't you?
Also with interest rates so low, it is very tempting.
Any thoughts?

The rental market in LIC has come down far less than it has in Manhattan. Rents for 1-bedrooms are down only slightly from the peak.
Rhino is clueless when it comes to the rent v. buy ratios. Always has been. He just basically admitted that he knows nothing about LIC but he comments anyway.

Toby, pretend you were paying cash. Now look at an equivalent rental. Calculate your savings (rent minus maintenance). Divide that by your purchase price. You should get a number like 3%. This is very expensive on a historical basis. Further, there is no reason for prices to rise in the near term. There are many unsold condos. Further, buying when interest rates are low is not a good idea. Why? Because they have more scope to rise and impact prices negatively. Prices adjust to interest rates, so buying when interest rates are low actually just has you paying a high price. There is no reason to buy now, especially in the fringe areas your price range puts you into.

What Rhino says, plus also unlearn the "percent off ask" way of looking at it.

Focus on percent off 2007 peak pricing; recent actual closings (especially for resale, which has a shorter contract-to-close timeframe); and non-mortgage monthlies WITHOUT tax abatement (especially when the abatement is very short, like 10 or 15 years).

toby, prices would be lower but for an enormous amount of stimulus that's being provided, in a number of forms. it won't continue forever. and while they hope that the economy will have started on an upswing by the time they've spent us into a grave, likely that won't be the case. they can't lower interest rates any further, and there will be huge consequences to our overspending. prices may bump along for a few quarters, but long-term i don't see any real hope for them.

how long have you been actively looking in the market? it takes some time to get perspective, and absent a bubble prices don't fluctuate that greatly. with a propped up market, which is the only way prices won't fall, you want to be far away from the action, unless speculation sounds like a fun parlor game to you.

Even if this doesn't end badly...as they withdraw support for lower interest rates, the ensuing rise in interest rates will dampen the impact of economic improvement on the demand side.

no alanhart, Alpine is opposite the Bronx. You can't see it from Manhattan. At 150th St., you see Fort Lee.

I will sell my house in less time that it will take Rhino to pack all of his books.

That's funny, given that you have already been trying in vain for months. Guess what, you are asking too much. Let it go. Its not worth what you think or it would be sold. You're a market cliche.

Leave it to Alpo shit for brains to think reading is something to poke fun at, while stubbornly sitting on a piece of shit house in New Jersey is something to brag about. Bravo stupid. At least this is you being a good moron again.

no, listen here shit face. Your the one who is priced out of Manhattan. THat is why your moving to CT. Your never going to have your library. Your just a broke loser who can't afford anything. Your not bying in Manhattan, yet you post here. Your not buying in the Hamptons, yet you post on the Hamptons forum. Your just a window shopper who looks at stuff at expensive stores they could never afford. And if you do buy a house in CT, it will be a thousand times shittier than mine.

Aren't you asking like $600k? I could buy that multiple times in cash you silly bitch. You are the VILLAGE IDIOT of Streeteasy. How many people have to tell you that you're a dope before you slink away, back to NJ? No one here compliments you. You have a half dozen people who routinely call you stupid. There are another half dozen who cheer the people who do.

no shit face. rhino would like a decent qol without stretching, along with good schools for the kiddums.

i'm not priced out in the slightest. you're a broke loser who nonetheless feels the need to call others, who are more rational about their situations, losers.

I never said you were priced out AR. And there are good schools in NYC. PS6 anyone? And with the buget cuts and teacher layoffs in the burbs, I'm not even sure if good schools will keep their high quality.

no, I am not asking $600k. My price is higher than that. Hell, accordng to ALlstate, my replacement cost is $650k, and that does not include the value of the lot.

And where exactly did this thread start? And where did it wind up? Relevance? Anger? What the hell is going on here?

Moron, replacement cost is always higher than value, and the older the house the more so.

Did you go to PS 6 in Staten Island?

PS6, k-5? then?

allstate probably would like you home to burn. better return.

Either way Alpo, you are still a moron...your house is a fraction of my budget...you are long a bunch of real estate into a major downturn...and no one here respects you.

ph41, you don't like this party? go find another one.

about ready - what IS your problem?

It would seem that the SE board has become a royal court - about ready is the "queen" columbia county is the "king" and then there are the various loyal courtiers - a veritable cabal. Anyone questioning, or with a different opinion is subjected to "off with their head" or "hang them at dawn".

ph41, what is it that you are waiting for to grace us with an actual opinion or substantive comment. You swooped in to tell us how angry we are and now just proceed to play with yourself. As stupid as Alpo is, he offers opinion. He is usually wrong, but he offers. For example, in this case he pisses on the budget even though a very decent apartment was found near the price range in Yorkville.

how silly. you just don't seem happy. why would you willingly subject (no pun intended) yourself to something you don't seem to enjoy?

He's here to tell us that getting angry is wrong...by calling us assholes.

wasn't it just awful when i found that apartment that met the OPs general requirements? what a prime example of a malfunctioning system. clearly i should be beheaded. or at the very least quit posting, as it doesn't meet ph41s particular needs.

I think what he means is when you did that...and then afterward Alpo said such an apartment doesn't exist and/or is not 'prime Manhattan' which seems to change scope with his whim...and then I called him a moron for denying something clearly established above.

rhino, let's just quit then! because it doesn't make ph41 happy!

My point is made- talk about overreaction to a simple observation - that ranting ended up a thread starting out with a real question. And yes, I have posted information/opinions where I was able to offer some genuine insight / information based on actual experience. And Rhino,your profanity seems a little excessive- I certainly didn't call you an a"""hole" seems to me you just called yourself that.

And watch what happens now!!!

Wow, even when I manage not to call someone an asshole, they pretend I did.

let's just have a look-see at what ph41 DID call us, a cabal. at least we're selective, if evil.

from wiki:

A cabal is a number of people united in some close design, usually to promote their private views and interests in a church, state, or other community, often by intrigue. Cabals are sometimes secret societies composed of a few designing persons, and at other times are manifestations of emergent behavior in society or governance on the part of a community of persons who have well established public affiliation or kinship. The term can also be used to refer to the designs of such persons or to the practical consequences of their emergent behavior, and also holds a general meaning of intrigue and conspiracy. Its usage carries strong connotations of shadowy corners, back rooms and insidious influence; a cabal is more evil and selective than, say, a faction, which is simply selfish; because of this negative connotation, few organizations use the term to refer to themselves or their internal subdivisions. Amongst the exceptions is Discordianism, in which the term is used to refer to an identifiable group within the Discordian tradition, and in the Wawona Tribe, where "Cabal" is used to refer to an internal faction of hedonistic conspiratorial members with a revisionist view of the Crimean War[1].

ph41, keep it up. you are so obviously guileless, a veritable victim (good alliteration for a monday morning if i do say so myself) of our evil machinations. once again, feel free to leave if you don't like it.

Queens-Astoria, LIC are great options. Condos are tough to come by in Riverdale, but there are a few in your price range. You will probably not find a two bedroom in NYC in your price range, so think of Queens, another great option, Roosevelt Island with awesome views of Manhattan. Let me know if you need additional listing info.

Which brokerage do you work for, maryann?

oh, so now your playing the whole "I'm richer than you" game, huh Rhino? Well, people who play that game usually are not rich and are just trying to impress others with their fake welath.

rhino - in your offline world, does your wife have as tight a lock on your balls as AR does in the online one?

you're just so darlin'.

where you been? selling properties for shiti?

fighting is ok
but two things

One, there is nothing wrong with NJ. 9 million people live in NJ and to condemn all of them is unhuman.

Second, one poster suggested that another poster's home be burned down. Such anti-social behavior ought to be condemned more loudly by all.

Thank you

AR - resorting to lots of cursing and then calling me a real estate agent? Is that the best your Sarah Lawrence education can do for you?

that's righ hp42. There is nothing wrong with NJ. You see, NJ is the coolest state. We have mob bosses. And we have terrorist supporting dictators. How many people get to have Moammar Khadafy as their next door neighbor? Those must be some interesting block parties...

http://www.nypost.com/seven/08232009/news/regionalnews/khadafy_sets_up_camp_in_nj___literally_186105.htm

Guile -" craft, shrewdness, AS DEMONSTRATED BY BEING SKILLED IN DECEPTION: actually, it's a compliment to be called "guileless" - (or, is that being too honest) as being skillled in deception would not generally be considered a compliment.

hp42, that was just alpie-baiting. keep up. and then alpie posts that. so you see?

yale, printer. yale.

ph41, sarcasm. wow.

yeah -Stanford vs. Sarah Lawrence - not even close

no ph41, again, yale. yes indeedy. first person to graduate from high school in my family, and i got to yale.

affirmative action / geographic distribution is always a good thing

ph41, thanks for confirming that you're an asshole. i guess national merit status had nothing to do with it, nor did years of public speaking awards, or being appointed at 16 to the community 5-year planning board (where i was elected chair of a subcommittee, but that was just kindness on their part, and the fact that i could successfully negotiate such sensitive things as meeting dates), or my grade point, or my essay, parts of which were read at the freshman dinner. but i'll feel diminished because i'm from the northwest, and the lower middle class, and i succeeded.

thanks sweetie. almost as good as being accused of succeeding because one is privileged.

I wasn't privileged - actually, from what you would call NYC middle class( parents, nyc school system supervisors/principals) - just very smart - and nowhere as touchy as you are. What is actually surprising here is that I usually get along really well with strong, opinionated women - in fact, they are usually the only ones I do get along with - until your touchy little self came up.

some of my best friends are.....

how self-involved. i never called YOU privileged. i wouldn't dream of presuming anything about your background from this forum. that's my point.

CC - just keep your inane comments to yourself

but..you're the one who is telling us all about how "I usually get along really well with strong, opinionated women - in fact, they are usually the only ones I do get along with"...

seem a little off your game.

so ph41, deciding you need to set the rules in our oh-so-public discussions? happy to do one on one, but this is a forum, and if you wish to go at one of the participants, the others are welcome to join. even petro, shrimpie and alpie.

i have no issues dealing with anyone really. although a public board where someone thinks that prices should hold steady or decrease at very low levels will not likely endear me to a number of people. i don't quite get it, i'm the one bear who will be significantly supportive of those who wish to buy, who has a tremendous amount of empathy, and yes who is strong and opinionated, and i'd dare add well-informed. what's you're problem?

oh, and by the f'ng way, what affirmative action? a woman? when over 50 percent of the matriculated class were women? you'd do better as a male.

or maybe it's my european background? they were low on europeans with lesser incomes. you know, ph41, this was not a good moment for you. think before you type.

Well informed - or just totally full of wishful thinking? And how sad - your life is set for you, by you, 20 years in advance - really sad - cheap rental - and if they raise your rent in 5-10 years your retirement plan goes down the tubes? Thinking ahead (by 16 years ) to your husband's retirement? You sound as if you're 60 not 46. Really sad

ph41, your sympathy is misplaced. my life is lovely.

ph41, why don't you show this thread to one of those strong, opinionated women? don't identify yourself, ask her to read it and given an opinion.

Can I interrupt this with a request for a $1.1mm two-kid apartment in a favorable school district. :)

Yeah, for crying out loud, thank you Rhino86, I was about to say that I wonder how this discussion which could be helpful to some people looking devolved into whether one woman in particular was deserving of getting into Yale. Who cares. Both of you. To the Yalie, if you think you deserve it, do you really need to be yelling anonymously on a message board? 20 plus years after you graduated? And the other one, like you have any idea about her for real?

Just my $0.02, somebody mentioned an apt. at 444 E86th for 725K, there's another one in that building, basically same layout, for 700K (6F) Must be negotiable, too, because they've been trying to unload it since 1 year ago, and coming down from 900K. Catching a falling knife, not finding the "pent-up demand" so dear to ericho, alpie et al. Maybe those foreign buyers just overlooked poor old Yorkville!. So there you have it: a 2br/2bt (although this is a converted Jr4 actually) roughly 1100 sqft, on a good Manhattan neighborhood, zoned for PS290, for 700K or probably less. Also, if you want to do it just for fun you'll find same line comps of that apt selling for way over a million dollars in 2007/08 no kidding. For some reason that building is a poster boy of bubble-post bubble.