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52 East 78 street

Started by Miamia
almost 13 years ago
Posts: 19
Member since: Feb 2013
Discussion about
Small 2 bed listed for 1.295 (900 sq ft ) maintenance seems pretty high around $2800 (part time doorman). Would it be a bad choice and tough to resell. Appreciate your advise.
Response by NWT
almost 13 years ago
Posts: 6643
Member since: Sep 2008

Is the idea to be in the PS6 zone? This one looks to be as cheap as you'll find, but for a little more money and quite a bit less maintenance you could get more space, e.g. at 65 E 76th or in the chunk of the zone that's east of Park.

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Response by Miamia
almost 13 years ago
Posts: 19
Member since: Feb 2013

Yes PS6 is the idea, the one on 76th is pretty attractive and larger but again a 50% cash down is over my capacity.
I can do a max 35% down. I just know the space will be tight in 4-5 years and to resell with this high maintenance might be an issue?

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Response by NWT
almost 13 years ago
Posts: 6643
Member since: Sep 2008

Something is off about 52E78. The last sale with financing was in 2008, and it doesn't even show up in . http://worldonefinancial.com/wp-content/uploads/2012/10/coop-listing-citi-2012.pdf. I don't think it's the $100K in underlying mortgage per average apartment, which is high but not that high, but you should ask your mortgage broker what's going on with it.

Doesn't matter, though, as 4-5 years isn't long enough to be selling then buying again.

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Response by Miamia
almost 13 years ago
Posts: 19
Member since: Feb 2013

The broker mentioned a bad deal with the retail/ doc space on the ground level.

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Response by crescent22
almost 13 years ago
Posts: 953
Member since: Apr 2008

You could drop the west of Lex thing. There are four blocks 79th to 84th ok for PS6 to 3 Av.

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Response by jim_hones10
almost 13 years ago
Posts: 3413
Member since: Jan 2010

i hear good things about the schools in westchester.

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