Sale at 103 East 84th Street #PHD

wouldn't a weensy ph studio with a terrace like this rent for >2000/month?

say it traded 100k, why so crazy??

I just think it's disproportionate to the apartment price. And, what exactly is that money going towards? Certainly not the actual unit's maintenance? How a far bigger unit in this building can (understandably) sell for >2 million but have a coop fee of only 1K more just doesn't make sense. Who knows - maybe this building's mortgage is lagging and someone has to chip in.

Say you buy something bigger that costs more but the monthly fees are half of what they are here. And spread out over 30 years, they equal out in terms of money spent. I guess people just don't project that far into the future....

mntnce is based on shares in a coop corp--number of shares per apt relates only partially to size--all else equal, the "better" the apt the more shares--higher floors pay more--apts with terraces pay more--penthouses always pay more--

a lagging mortgage or other financial problem would be shared by all owners via assessment or maintenance charges based on share proportions--

i dont understand what you consider odd about this

Anony - you can live in my closet for cheep. I'll even do a per usage deal to let you play on the terrace. But first go apologize to my uncle.

It seems odd, simply because 135K is cheap, but there are many many more things that don't have such disproportionate MMs.

I dont know...what does a studio rent for? 1500 seems pretty low assuming some tax deduction on the maint. as well. Why not buy it for your daughter to live in for a few years. Certainly not the worst deal out there.

Maybe PHE bought it. Medium sized 1bed with decent terrace in a nice UES building. Whaddya think.

nyc10023 - might actually be that. Especially when you look at what PHB - combined unit - ia asking in the same building - $2,850,000. Okay, so it's totally renovated by a famous architect, but REALLY?

Something happened in 4 years to jack up mtce. Old listing circa 2006 for PHB (another combo) as a 1-bedroom lists mtce as 1700ish.

I love Seldorf, but would need to be child-free to live in a place like that. Can only drool.

Actually, that combination for just over $200,000 looks positively reasonable compared to this:

Hatfield House at 314 East 41st Street, New York, NY 10017 (prewar, but not grand)

314 East 41st Street #PH3 1 bed 600 ft$550,000
314 East 41st Street #PH2 440 ft² $369,00
Needs total renovation, and they were actually asking MORE than this is someone actually bought both!!!
And, hard as it is to believe, with that maintenance, and weird layouts, they're both in contract.

nyc10023 - IMHO the increase in maintenance was caused by the combination of PHB with the apartment next door after the purchase.

No, I'm comparing PHD to the original PHB (which is bigger).

Good point jhochle, I keep forgetting about the tax deduction from maintenance fees... :-)

Ya gotta love NY: it's a big closet with a bath & a terrace. Love how they list it as 2 rooms. I bet it'll close for less than $135K.

The bldg. is nice..