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Bldg at 342 E 119th St

Started by MTH
about 4 years ago
Posts: 574
Member since: Apr 2012
If anyone living in this building has information/impressions to share I'd be grateful. Also wondering about the neighborhood and general safety at night. Thanks!
Response by Krolik
about 4 years ago
Posts: 1370
Member since: Oct 2020

1) The building's tax abatement will expire soon and monthlies will go up significantly. You can figure out how much exactly by pulling tax bill for this and the sister building (333 and 342 119TH), multiply by your shares, divide by total shares in the coop, and divide by 12 months.
2) Monthlies are already high for a non-doorman, tax abated building, due to a sizeable mortgage.
On the other hand, coops in the area are much cheaper than condos, and this is construction from this century!

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Response by Anton
about 4 years ago
Posts: 507
Member since: May 2019

the area is always up and coming in the last 15 years, but looks like the whole city has a halt now

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Response by Krolik
about 4 years ago
Posts: 1370
Member since: Oct 2020

Apartment valuations doubled in that time frame based on price history in the building. A lot of appreciation has already happened. But 2brs are still much cheaper than a similar one in a more desirable area of Manhattan. Big part of the story was Q line extension which was promised but I am guessing it is no longer coming due to budget issues in NYC.

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Response by Admin2009
about 4 years ago
Posts: 380
Member since: Mar 2014

Living in that area is a bit challenging

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