building at 305 East 40th Street

Property Shark says it was built in 1963.

ibelieve that washers/dryers are permitted in two bedroom apartments, but not absolutely sure.

Ever seen the traffic into midtown tunnel?

There is very little traffic on 40th street, though it can be heavy on 2nd Avenue

Hi. I've seen the bldg. a while ago. I didn't buy primarily because (1) they don't allow pets; and (2) these cookie-cutter units have SCARY LOW ceilings. Also, I don't think they allow w/d (no hook-ups, either).

The intersection @ 40th + 2nd DOES get crazy around the morning commute time, mostly w/ drivers blocking 40th St. in appraching the tunnel. But 40th St. east of 2nd Ave is generally a quiet area.

I have friends living in that building, and as far as I know the ceilings are standard 8', some slightly higher.

I've seen the 2/3 BR apt. currently for sale, and am pretty sure a washer/dryer could be installed there (don't remember if there is one now).

Thanks for the responses. We will take a look when we return to the City, but 8' ceilings are an issue.

Hi,
Given that Gristede's is on the ground floor of this building, has anyone had problems with roaches, mice or rats?

Nice building, well kept

Does anyone know if there is a land lease

I'll go to an open house this weekend to check out the building. I'm interested to see how low these ceilings are. Plus the roach situation. Anyone else know anything interesting about the building?

A friend lived there for years and really liked it. Married so left city - otherwise he would still be there. Never mentioned any roaches or mice issues.

no roach issue and its a good, well run building

Do anyone know what the sublet policy is? I know that it's a co-op, but the listings do say 'sublets allowed', therefore, the question.

Here's what I have (from 2014, possibly out of date):

THE FOLLOWING POLICY WITH REGARD TO THE SUBLETTING OF SHAREHOLDER APARTMENTS AT 305 EAST 4OTH STREET WAS ADOPTED BY THE BOARD OF DIRECTORS AT ITS MONTHLY MEETING AND WAS ANNOUNCED AT THE ANNUAL MEETING.

1. SUBLETS ARE ALLOWED FOR A PERIOD OF ONE YEAR, AND MAYBE RENEWED FOR TWO ADDITIONAL ONE YEAR PERIODS.

2. APPLICATIONS FOR SUBLETS ARE AVAILABLE FROM THE MANAGING AGENT. THERE IS AN APPLICATION PROCESSING FEE OF $500.00, WHICH MUST BE SUBMITTED WITH THE COMPLETED APPLICATION.

3. IN ADDITION TO AN APPLICATION PACKAGE, THE FOLLOWING OTHER REQUIREMENTS MUST BE MET BEFORE THE BOARD WILL CONSIDER APPROVING A SUBLET:
A) THE SHAREHOLDER MUST PROVIDE WRITTEN APPROVAL FROM THE MORTGAGE HOLDER, IN ACCORDANCE WITH THE RECOGNITION AGREEMENT (IF THERE IS NO MORTGAGE ON THE APARTMENT, ALIEN SEARCH WILL NEED TO BE CONDUCTED BY THE MANAGING AGENT, AND A SEPARATE FEE FOR THE SEARCH WILL BE CHARGED TO THE SHAREHOLDER); AND
B) THE PROSPECTIVE SUBTENANTS NEED TO BE INTERVIEWS BY THE
INTERVIEW COMMITTEE.

4. THE FOLLOWING MAINTENANCE SURCHARGES ARE APPLIED TO ALL SUBLETS:
A) 25% IN THE FIRST YEAR OF THE SUBLET,
B) 25% IN THE SECOND YEAR OF THE SUBLET, AND,
C) 50%. IN THE THIRD YEAR OF THE SUBLET.

5. AN APARTMENT MAYBE SUBLET FOR ONLY THREE YEARS. EACH YEAR THE SUBTENANT MUST BE RE-APPROVED, IF THE SUBTENANTS DO NOT CHANGE, THEN A NEW APPLICATION AND INTERVIEW IS NOT REQUIRED. HOWEVER, BEFORE A SUBLET CAN BE RENEWED, THE SHAREHOLDER MUST PROVIDE WRITTEN APPROVAL TO SUBLET FROM THE MORTGAGE HOLDER, AS DISCUSSED IN 3A ABOVE.