2025 Broadway, Nevada Towers

Likely the mtc (which is wicked). But also, that building was built with only 1BRs. Therefore, although many apts have been combined, its not exactly a "family" building. Construction across Amsterdam will have temporary negative impact (perhaps longer term depending on scale and what floor you are considering). Its tough to compare this one to others.

A few questions about a 2/2 for rent in this building for $4999. http://streeteasy.com/nyc/rental/599603-rental-2025-broadway-lincoln-square-new-york

It seems to be the same layout as 12AB that has sold many times and is now renovated. It seems HUGE for the price ... haven't seen anything like it on my search of a 2/2 under $5000 on the UWS and UES. Is the building really that bad???

This building is a disaster. Avoid it at all costs. The sponsor loaded it up with debt and structured the coop so that it does not benefit from the retail space. Apartments are small, with low ceilings and it's 1970's construction at its worst.

My wife rented a studio here for about 7 years, until 2002. If you like the non stop sound of every emergency vehicle in Manhattan zipping with sirens on, this is the place for you. It's like the Times Square of the UWS.

Thanks for the input. We will stay away!!!!! The space and price were too good to be true!

The building has entered into a refinancing agreement for the mortgage at a savings. Good news!

It would have been a feet to do otherwise

Methinks martinjaye is on the board.

broker looking to unload units..

I think this is great, incredible location and PS 199 how can you beat that! Also that new Condo Down the Rd, our mkt. value just sky rocketed!
Units are selling like hot cakes!
With this new Mortgage things couldn't be better.
Sq ft is going to go up in $$$$$

Hey:

I know you are a board member (from what I remember). Last name R? The underlying issue remains. The sponsor, whatshisface Krasnow, saddled the bldg with a big mtge (19m+?) And the mtce on same apts are rapidly approaching market rents (ex. studio mtce 1300, rent ?)

Location is great, PS 199 zone sure (but not a guarantee these days). Architecture bleh, no amenities.

You want me to continue?

New mtge, same story. You're not paying down the principal, mtge rate is good for what, another 10 years? And what other piece of the bldg is gonna require work in 10 years? The roof? And what if rates go up?

The only people who like living in Nevada Towers are the few renters who are in at rent stabilized rates. The building is just bad news. Poorly constructed and saddled with high maintenance charges due to a huge mortgage and no commercial rent to help offset residential common charges.

Well, RS. Don't exaggerate. I got into the Nevada at 500/sqft, 4.25% mtge. What's not to like about that? If not for the looming issue of the huge mtge, I would have stayed.

If you really want 199, rent in the Trump towers for a couple of years until your last kid gets into K. Then move to Harlem and drive 'em down in your big honkin' SUV. Or move crosstown to D2 (better zoned middles) and commute. Win-win-win.

what's the common charge on 500 square feet?

Like I said, it all depends on your buy-in.

the current cc. all owners have the same charges based on offering plan allocation.

It's good to use different words for different things. This is a co-op, so it's called maintenance.

The one-bedroom 25A, which just sold for $490K, has maintenance of $1900. Back in 1993 its maintenance was $1211.

The maintenance roll for October 1993 is at the end of http://a836-acris.nyc.gov/Scripts/DocSearch.dll/Detail?Doc_ID=FT_1250000449425.

Paying $500k for maintenance that approaches rent is nuts.

It is, but a sig. # of people bought a 1br for say, 200ishk.

I have recently financed a unit in this building, and have it approved for great rates and cheap closing costs. Call or email me to find out more.

Michael Most
Senior Mortgage Consultant
917-841-8096
Email: michael.most@citi.com

The "MOST" Trusted Name in Home Loans !