building at 160 East 38th Street

Curious about this building as well. The maintenance seems a bit high. Does anyone know if this is a landlease building? Does have a pool/healthclub though. Also, what about about traffic is this area?

Any insight is appreciated!

It's a busy area with the tunnel traffic on 37th st. But close to tunnel and midtown.
Seems like the prices have fallen off quite a bit.

15E would need a lot of work IMO. (I saw it months ago)
But it's a nice building. Nice roof gym/pool/lobby. If you want to tackle a reno its a good space. (no closets though)

I was wondering what some of the cons/ negatives are of this building? Is the land owned/ leased etc.? Much appreciated.

I lived here in the late 90s - early 00s. Great building and great amenities. It's not a land lease building. There were a few a-holes on the board when I left but an overall easy application process for most.

Hihi it seems there is no much discussion on this building... anyone has any insights pls? it seems in the past two year, priced dropped a lot in this building... why maintenance is so high? thx for any info

"why maintenance is so high?"

Full-time doormen, gym, roof deck, and pool.

More important question is: Why are the current ask prices unreasonable high? They are obviously too far off from comparable apartments that sold over the last year.
For example: 34D was sold for 790k, but 10D and 5D are asking for >800k even though they are 24 floors lower (all 1000 sqft)? Also other apartments on higher floors with more bedrooms have sold at a price of 650-750 per sqft in the last year. Based on that 10D and 5D should be in the range 600.
Especially taken into account that buyers are not allowed to rent out there apartments according to the board rules.

Hi. For current residents, how do you like living in this building? How is the overall upkeep of the common areas? Thanks in advance!

mmost:

1. you are becoming a pest
2. please stop spamming the postings here

In reviewing the building's financials to buy here, we found them to be perfectly sound. The maintenance has not been raised very much over the years, which to me is a good sign.

Commercial tenants pay about 24% of the operating expenses.

Currently, the maintenance breaks down like this:

45% goes to taxes
18% goes to labor
17% to utilities
9% to underlying mortgage
5% to maintenance and repairs
4% to admin / management costs
1% to gym
1% to insurance

We lived there 3Y as tenant in one of the best unit (line A).
Great building: from what i have seen low maintenance as they have 2 entrances with doorman, guarded swimming pool...) well maintained rooftop. Best Halloween party for kids ever seen in any coop...
This said the elevators are really small and old, limit unsafe...
Another down side is the sound polution: no sound proofing whatsoever on windows or walls and finaly coakroaches are quite common even by NY standard

I'm a current resident now, and absolutely love it here. Love the amenities, love the staff. We added some soundproofing in our renovation, just to be safe, but the apartment is super quiet and we probably didn't really need it. I imagine the lower floors can be noisy, though, with the restaurant underneath and traffic. BTW no roaches in my place... yuck!!

Adding soundproofing was a good idea. You never know what can change in the future and it is close to impossible to effectively add it later after the renovation has been finished.