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440 East 79

Started by apt55
over 12 years ago
Posts: 127
Member since: May 2012
Discussion about
Does anyone no why there are always rentals for this CO-OP building. Do they just have a very liberal sublet policy or are these sponser units? .
Response by NWT
over 12 years ago
Posts: 6643
Member since: Sep 2008

Looks as if it's loose, but you might want to call one of the listing brokers and ask.

The sponsor still owned 63 apartments in 2003. Since then 17 have sold. Of the remaining 46, 44 are rent-stabilized. Of the remaining two, the sponsor's rented 3A several times. I can't tell which other one is renting at market.

Apparently the sponsor keeps one or two to rent at market, helping to offset any rent-minus-maintenance shortfall while waiting for the 44 to become vacant and saleable.

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Response by apt55
over 12 years ago
Posts: 127
Member since: May 2012

Thanks for the info. Do you know who the sponsor/managing is for the building?

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Response by NWT
over 12 years ago
Posts: 6643
Member since: Sep 2008

The sponsor was the late Peter Sharp. The successor is 92 Cooper Associates. Agent is Century Property Management.

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Response by apt55
over 12 years ago
Posts: 127
Member since: May 2012

Thanks

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