Sale at 16 Park Avenue #16A
Started by wershoven
over 13 years ago
Posts: 5
Member since: Nov 2010
Discussion about 16 Park Avenue #16A
Anyone here with any insight as to why this 2BR has a maintenance approaching $3K/mo.?
No, but my ex used to live here, I know it has one of those manual elevators the doorman takes you up in. I'm sure he costs a shiny penny.
The real question is, why would you buy this apartment with a $3K a month maintenance when you could rent it for $4500 a month?
http://streeteasy.com/nyc/rental/952248-coop-16-park-avenue-murray-hill-new-york
The underlying mortgage of $3,300,000 comes to $52,000 per average apartment and about $81,000 for 16A. They just re-fi'd in June. The co-op started out with debt less than $1,700,000, and tends to add to it at every re-fi.
The offering plan with amendments through the early 2000s is at www.offeringplanet.com. There might be more clues there.
A former poster bought there, so it's been discussed quite a bit. E.g., at the bottom of http://streeteasy.com/nyc/talk/discussion/21214-coop-mortgage