The Regency East 301 east 64th

This bldg has pigeons all over the windowsills hanging out. Just about every apartment, doesn't matter what exposure. The Con-Ed plant is across the street and there are millions of them that go back and forth all day in flocks. I would deinitely stay away from this bldg no matter what anyone tells you. It's like something out of Alfred Hitchcock's THE BIRDS.

o jeez.....thats pretty crazy.......thanks

I looked at this building, unit 16 something 3 years ago during the recession. The broker kept saying the building is in great financial shape and there is bulk discount with coned and time warner cable. But he could not answer why the maint was so high especially they have retail space leasing. I skipped the place since $1,400 a month in maint for a regular 1 br is not cheap. But did not notice any birds flying around though.

The b line is almost 3k.....seems like a lot...and the sq ft. Goes from 1300 to 1500 for the same line...

I think there was a lawsuit between a shareholder and the coop a couple of years ago.

I've seen the financials. The building has a fairly large mortgage, over $6m, that is amortizing (not interest-only). Further, the retail income is largely shunted off to the old sponsor, leaving only a flat nominal amount to the co-op through 2026. Commercial income < interest expense.

I also wonder about the second avenue subway- it's right at this building that it is to curve west to connect to Lexington/63rd.

Crescent, why do you worry about the curve of the subway? Do you think that it will be loud or will shake the building?

I just wonder when they build it if there will be above ground disruption or if there is structural risk to the building.

The Phase-1 tunnel starts its westward curve over to 63rd and Third at 65th and Second.

The tunnel straight down Second from 65th won't be bored until a later phase, the 3rd IIRC.

All of that will be deep tunnel, bored through rock, so no street-level impact at 63rd and Second.

That's all good, but in the end 63rd and Second will be stuck halfway between the 55th and 72nd St. stations. Closest station will be 63rd and Third, so no real change in accessibility.

just seeing this thread after 16-mos, but I will add my "2 cents" since I know about the building.

First - there is definitely no pigeon problem. Not sure what the point of that bit of information was about, but I would challenge that poster to provide any substantial empirical evidence showing this building being subject to any more pigeon dwelling than other buildings in the city.

Second - as it relates to the high maintenance, it is greatly attibuted to the "sweetheart" master lease on the commercial space that is denying the corporation from reaping the benefit of the commercial leases. The mortgage is approx. $6MM with a 30-yr amortization, so it is shrinking. And not too out of line with typical debt on most buildings this size. The building has an antiquated physical plant that is not very efficient. The building burns oil for both heating AND cooling, which results in slightly higher than average fuel costs, but not overly so. The biggest expense factor, as is the case with almost all NYC co-ops, is TAXES. So without the benefit of the commerical lease cash-flow to offset the tax burden, you end up with high maintenance. But that is the current trend in NYC, and sadly, it looks like it will be the trend for the foreseeable future.

I should add that the building is run exceptionally well, with a great staff. Spotless from top to bottom.

I agree with gutter86. There is no pigeon problem. I lived there for over 7 yrs and never saw a pigeon. The B line has open views and layout was great. I would have bought a B line apt if I had stayed in the city. The building has a great location, close to many subway lines. Staff was super friendly and helpful and so were our neighbors. I still miss them!

Any updates on the subway construction near this building? Anyone know where I can find more information about the 63rd extension (aside from MTA, there wasn't much there about long-term plans for the area)?
Thanks!

Drilling subway tunnels is boring.

Ugly building, tons of construction on second, and even if there wasn't construction there's very little in that neighborhood. Sure, if you walk to third there's Dylan's Candy Bar and Bloomingdales a few blocks down, but second and further east on 64th is like a no man's land. To me, that's an extremely undesirable location.

Don't know how you can say the area 86th/2nd is interesting while 64th/2nd/1st is barren. There is plenty of day-to-day stuff on 1st in the 60s without being annoying/overwhelming like 86th.

Plus much of Lenox Hill close to the park is more charming than it's equivalent in the 80s.

There is plenty of day to day stuff on 64th and 2nd. You have Queensboro Bridge traffic from 3pm to 7pm. And the days where the cops don't show up on 63rd and 2nd to help direct traffic makes the array of horns sound like the NY phil. throw in the constant ambulances you'll hear b/c of the hospitals and the occasional rice rocket fire down 63rd off the upper level at 3am and the blasting rap music of unconditional love by TuPac and it's just magical.

I've live a block south. Ride or die!

hi, looking to make an offer and wondering if anyone has any info. about this building - for e.g., financial condition, expected assessment increases, openness of the board (how strict), sub leasing policy, etc. absence of a flip tax seems like a strong benefit.

open to your opinion on the building location and future appreciation prospects. thanks in advance!

I am a current resident. Based on my knowledge the financial condition is excellent. Current owners have recently paid to update the elevators, roof, HVAC and to purchase the commercial spaces on the ground floor....the income from which has significantly lowered our maintenance. I'm not an expert but my assumption would be that new owners should expect little in the way of additional assessments since we just made such a large investment into the building. As for the board, in my experience they have been very accommodating. Sub leasing policy is you can lease 3 years out of every 5 in perpetuity which is very generous compared to most other co-op's...the sellers realtor hopefully shared this all with you.