I want to but this Coop...rip me a new one!
Started by falcogold1
about 17 years ago
Posts: 4159
Member since: Sep 2008
Discussion about
OK team, I'm a first time buyer but I've been looking for a while. Found this Coop...180 East End Avenue #4F in Yorkville which I like. (http://www.streeteasy.com/nyc/sale/361975-coop-180-east-end-avenue-yorkville-new-york) This apartment will require a gut renovation. Please evaluate this property and give me all the advice you can. Ready...set...go!
Buy it!!!!!!
It comps out nicely vs. #8F. The demand-supply imbalance in Yorkville would scare me.
Basic maintainence is $2302 plus $410 for all utilities for a monthly total of $2712.
Percent Down: 50%
2% flip tax payable by seller
Priceless!!!
I've only been up on East End with clients once, but I like it up there. With a low floor apartment, you want to make sure you're comfortable with noise levels, so you might be able to hear traffic from the highway. And of course with a 50% down co-op you and your broker want to be extra careful with your co-op package. I've got some posts on how deal with packages and boards on my website, which is searchable . . .just go to www.frontporchllc.com and type "application" or "board" in the right-hand search box.
ali r.
[downtown broker}
^^ "SINCE you might be able to hear traffic" not "SO you might be able to hear traffic"
sorry fingers don't work.
ali r.
{downtown broker}
EEA is REALLY far from everything. I lived on York for a while and really loved the neighborhood, but hated walking for 15min to the subway or having to take super slow buses to work that took 40 minutes to get to midtown. From EEA it'll take a bit longer to get everywhere. I also agree about the supply/demand point. There are TONS of apartments available and limited number of people are willing to move that far east. Pool is really nice though, and if you reverse commute or just don't mind the inconvenience, then go for it (bet you can get it for under $1M). I'd take a few strolls to the subway on a rainy or really cold day and think about whether that is something you want to be doing on a regular basis.
fgold..I go over to 120 eea a fair amount, have some friends in the building. Very family neighborhood. Tons of kids. Only negative I know of is that you are not near ANYTHING. AT ALL. Go over there this weekend, walk to CPW, a few times. If no biggie, then do it. Good Luck.