1635 Lexington

I tried to buy 7F in 2015. On closing day the mortgage company realized that the building was insufficiently insured for this area of NYC which is in a high flood zone. The owner would not increase insurance coverage and therefore we could not close. After that owner increased the sales price. The owner refused to up the insurance which was not very expensive. I believe the owner felt that the property was worth more than the closing price and was not concerned about failing to close. It appears not to have sold since then. The bottom line here is that if you are interested in this property to be aware it is in a high flood zone and building may not meet insurance requirements for a mortgage.