Condo on Riverside at 158th

I assume the maintenance on this place is quite low. 300,00 for a Condo is fairly modest. This doesn't sound that bad and there's nothing be gained by crying over spilled milk. Since it's a one bedroom, my assumption is you would have considered trading up at some point. If the market goes down a larger apt will go down more. If the market goes up, at least you bought an asset that will go up with it. Enjoy, home ownership has some benefits, this is your home and nobody can tell you what to do with it and you do get deductions..

Life is long and you have to live somewhere. Relax and enjoy your space and the park. You made a fine choice. Worry about other stuff that you might have some ontrol over..........like.......
does my ass look big in these pants?

My ass don't look that big, it just feels big when u sit next to me on a 10 hr flight.

As to an apt bought in 158th, well let's just say when all is said and done you could've probably gotten something south of 96th in another year. But on the upside traffic out of g w is easier from 158th. ALL perspective really.

w67th....it's pretty hard to imagine a good sized 1 bedroom condo (not co-op) below 96th on the west side for 300k, don't you think?

LET the betting commence! FYI, my friend bought her 900 sq Ft 2 bd 1 bath on 70 haven for $100k in 2001ish. So let's just say BUBBLE together exactly at 6:25.

I've lived in NYC for 17 years and have always rented at market prices. In retrospect, I think that was a big mistake. It seems to me that all the smart people I know were smart enough to buy a one bedroom or studio apartment as soon as they could afford one and build equity. I have nothing to show for my 17 years of paying rent.

That's cause you are q lobster. They don't do mortgages for lobsters.

Otoh, WTF didn't you buy when interest rates were high, rent/buy ratios were in your favor and prices were fucking ridiculous in 1992? I bought commercial shit in 1995 and made a killing. Don't miss this bottom coming up.

Anyway, my rather obvious point to aptdude09 was that most likely if he holds the property for a while that he will make money in the long run. Also it's nice to own your own home.
w67thstreet, sounds like you're enjoying your Saturday evening. Have fun.

Can't cry over spilled milk. What's done is done. Are you lying awake nights worrying about values? If you are truly unable to sleep over your purchase, put it on the market FSBO and take a small loss (or maybe not even). Otherwise, if you are happy with the location and apt, life is short. Anything could happen tomorrow. Enjoy.

Come on nyc10023!!!!!!!! Let him squirm a little!!!!!! Why come on se if you want someone to pat you on th ass and say 'good job!'? He wants to worry. Just give him his doubts and be done with him.

I'm not squirming or losing sleep over it. I'm just doing some research to keep up with whats going on...just an honest assessment. This isn't the first place I've invested in and it won't be the last. I'm just keeping my ears open and was actually hoping to hear more from people that had experience in the immediate area.

Okay, I was up there summer '04 to look at potential investments. My unscientific gauge of prices up there - prices have come up too hard and too fast, not commensurate with any improvements in QOL. Beautiful (though mostly dilapidated) housing stock anchored by the Dakota of the North aka Grinnell. BTW, if anyone is interested, the Grinnell has low mtce because of insanely low RE taxes - it has income limits but they're pegged to price of apt - perfect for trust fund kids. My thoughts were - why pay 300k or even 200k for some place that is in Manhattan but so lacking in services when (at the time and now) you could get a similarly sized placed in prime-ish Bk, Qns, etc.

I don't see how 300k for a 1bed could possibly be construed as an investment - please don't say that you consider it one. But hey, if you enjoy living there, and consider the premium worth it, fine. Doesn't sound like you are, though.

If you bought on 158th, then you are probably in one of the Riverside Condos marketed by Sandy Edry, right?
He has that market up there pretty locked up. Any of the buildings that are still open up there, and I am also looking at those and saw a few, all range within the 300k-350k range for 1BR, with some amenities like doorman, but mostly space. I really would not worry, you got a pretty good deal in that neighborhood, and if you stay in it for a bit, like the others said, just enjoy it. From what I have been seeing there is not much stock up there that isn't Co-op HDFC with crazy income limits, really not that many condos...so just enjoy!

I would sell and rent for the next 5 years.

I live a few blocks from you and pay $1464 for a large 2 bedroom, pt dm,elevator(moved in almost 2 years ago). I like the easy street parking and we are on the GWB in 5 minutes. Can shop at fairway and park in the lot just like the burbs, easy access to upstate and I golf at Van Cortlandt. Other than good Dominican food not many other amenities we can walk to. Love our building and the neighbors are great, we have a nice caring community of diverse folks.

Honestly though I can't imagine paying more than $200k max for a mint one bedroom in this area. At $250-$300 dollars a square foot I would consider a purchase, maybe I'm delusional?
But I am seeing some properties below 96th street selling at $600-$700 hundred F2 and would expect to pay half in Southern Washington Heights.

Another way to look at it - assuming a condo on Rvsd Dr & 158 loses 20% value since your purchase, imagine having bought something on the UWS at that same point and how much $$ 20% X purchase represents. In fact, threads here document sales price reductions on large apartments of $500,000 and up, each of which represents a multiple of the total price you paid. Good thing you didn't buy something below 96th St!

Yeah, but you still have to live at 158th & RSD.

to KeithB: for 200K you get zip! (or a run-down, bug-infested total renovation one) Even in that neighborhood! ...most "mint" places, as you so nicely say, are at least 250-300K, even up there....I have been looking since Spring, mostly for information, but that's really what's been going on, not many price cuts either...and most coops are HDFC, it sucks if you are not in that demographic.

ACH:
That's been my observation for the most part. I haven't seen price cuts on 1 bedrooms in the area (and keep in mind these are condos, not co-ops...which are less expensive). Also in this area these is a significant price difference between east of Broadway and west of Broadway. I have seen price cuts on larger apartments, but 1 bedroom condos do appear to at least be listed at similar prices. Does anyone with "insider info" on SE have information on recent sales?

Flamo. Your stmt above is akin to saying.
'I have insider info buffet is a ponzi, but the ask is still $10k, damn!!!! Let me buy at $10k'. Dude you are nervous and asking for affirmation data. Sucks to be you.