23 west 116th street Manhattan

https://streeteasy.com/for-sale/nyc/building:5988232

This one https://streeteasy.com/for-sale/nyc/building:5988232

2BR set up so you can easily rent out the other BR.

not looking to rent but looking to buy

What do similar 2brs rent for?

What is attractive about that area? May be works for some Doctors at Mount Sinai. It is only Manhattan geographically but in real estate terms it is Harlem.

Then what happens to taxes in 2039? Does it go to $1000 or $1500 per months for 6B?

Watching the video for 7G there's an unfortunate loud siren coming from the street at the very start of the tour. So the windows aren't very well soundproofed.

How do folks feel about wide plank flooring in Manhattan apartments? 7'', 8'' - seems a little rustic. It's not a barn. I can see 4 or 5 but maybe I'm missing something.

On floor plank width, it depends on the size of rooms. But 7 inch are more expensive and have fewer seams and deemed to be luxury feature.

Any new ultra luxury you see will use wide plank floors as people know that they are more expensive. Look at Dinesen in high end Reno. Most Manhattan apartment with less than 12x15 rooms would do better with 5 inch. More important is thickness of wear layer and quality for 7inch or wider as most of them are engineered to minimize gaps.

I really dislike the planks being installed crosswise rather than lengthwise

I live near there (FWIW, the broker phrase would be "Central Harlem.") 300, the appeal of the neighborhood is you're near a wide, European boulevard in a pluralistic community with a lot of restaurants and great transportation access.

The Adeline is a little more expensive per square foot than some other properties, probably because it's a full-service building with a tax abatement. I think the question to ask is -- what are the taxes going to look like when the abatement rolls off, and are you good with that?

ali r.
{upstairs realty}

Yeah the floors are not to my taste.

If I were going to splurge on floors I'd get herringbone but only if the room were big enough.

I think the price is still attractive for full-service building, 6 blocks to central park and excellent transpiration options. Also, tax abatement for the next 13 year will save you 200K and those money can be invested during those years and you can make double or triple of it.

Also, where in NYC you can find 2 br 2 ba in full-service building for 1300 $ /month including common charges and RE tax?

It looks like you have made up your mind. Good luck!!

Why not rent and double or triple your down payment? Just curious.

Rent is too expensive nowadays, around 60K/year

So based on the recent rents for 2 bedroom in that building, around $4500-5000 per month. If you buy a 2 bedroom, based on the StreetEasy calculator, you monthly cost will be $8000 plus per month if financing with current mortgage rates. Plus when you rent you never have to worry about repairs or an expiring tax abatement. I know that area and it’s ok but are you really confident the property values would go up long term? I would rent based on those numbers but maybe I’m missing something

My observation is the rents are relatively low compared to the sales price. For example 7G was asking $835000 but it’s now under contract to rent for $3600? That seems like an attractive rent for such a nice building. My one bedroom condo in Hells Kitchen is nowhere near worth $835000 but based on recent rental comps, I’m very confident I could rent it for $3700-3900. To me it seems to indicate that that area is not so desirable and may never be, but If YOU like it, renting maybe to better way to go

Turbo, What if you already owned in the area? What would you do?

I just looked at the listing of 7A at $6800. 1640 sq ft in full service building. Seems like a good deal to me for call it $1.6mm apartment.

I have no issues /problems with that area, I like that you are one mile from an Aldi and 0.6 miles from LIDL, I run often in Central Park and I prefer the Northern part of the park as it is hillier and less crowded, I’m also 2 miles from Riverbank park which has an awesome 400m running track. In short, I don’t think I would be dissatisfied living there and it looks less expensive for sure than Hell’s Kitchen. I don’t think my partner would approve, and I think the younger crowd definitely would want to live closer to downtown. Rents are lower. For me to live, I would definitely consider that area but I would want to rent first for a year to see how I really feel. I would not want to buy for investment, but honestly, I want not want to buy for investment anywhere in NYC.

Price per sq ft and tax abatement still make it attractive

Sell already!!

do you have a buyer?

muromec let me know if you make the leap. First glass of wine at Barawine is on me.

woww, they still open!!

Lets refresh this chat