building at 225 East 79th Street

Started by appraiserny

almost 12 years ago

Posts: 16

Member since: Jun 2007

Discussion about 225 East 79th Street in Yorkville

I was looking at the maintenance in this building isn't it a bit too high? Studios are the 1160 range 1 bedrooms are in the 1560 range and 2 bedrooms 4000 range while other buildings in the neighborhood are cheaper 325 E 77th St Studios are the 500 range 1 bedrooms are in the 1200 range and 2 bedrooms 1600 range

Response by crescent22

almost 12 years ago

Posts: 953

Member since: Apr 2008

The mortgage on the building is $3m, which is about $40,000 per unit and is high. I don't think that accounts for all of it but is a factor. Property taxes look reasonable per unit.

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Response by Aaron2

almost 12 years ago

Posts: 1705

Member since: Mar 2012

Other possibilities:
Heating systems less efficient, thus higher fuel costs?
Taxes higher?
Only 80 units to spread expenses around. How many other staff in addition to super & doorman?
Board trying to build up reserve fund or save for upcoming large expense.
More expensive to maintain/repair (nice brickwork & cornice on that building)?

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Response by pismo10

over 8 years ago

Posts: 19

Member since: Jan 2010

Not a land lease bldg.

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building at 225 East 79th Street

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