building at 55 East 9th Street

Most, if not all of those coops on E. 9th do not allow students to sublease or have parents purchase the unit, so I wouldn't bank on having them as a limitless pool of potential tenants.

Prices in 60 E. 9th have always been a bit lower than other neighboring coops... and for good reason! It's a terribly built, unattractive, noisy building. If you like to stay awake at night listening to your upstairs neighbors stomping around, this building is for you.

hejiranyc - I never heard that about 60 East 9th before. Can you say how you know this?

Um... I used to live there!

Oh. I wasn't doubting you (just so you know). I was curious how you knew. Some people visit friends in the building, others hear from a cousin's friend's sister and the best info is from the people who lived in a building.

I appreciate you sharing those details. People should know this.

Discounting the sublet ideas, what are your thoughts?

I think the location is a very good, but the issues raised by hejirnyc will matter to many people.

except I'm not talking about 60 e. 9th.

nycjunior1 - I have no suggestion about short term prices. I view real estate as a form of consumption not an investment (except an investment in one's quality of life - owning is simply nicer than renting long term, whatever the economic geniuses on here say).

That said, I looked at a lot of post-war doorman buildings in the general central village area, and I think that one is very nicely built and one of the better ones. As opposed to the two red brick buildings across the street (60 and 30 e 9th), 55 has an internal staircase, not an external fire escape (a higher building standard) and the red brick buildings do have wooden floor beams (possibly leading to heji's complaint), while 55 is more solid with steel. It also has central air for the summer, and I do not think the others on that street do (don't fully remember, but I seem to recall this). My family is in building, and I think it is better built physically than some pre-wars, and certainly better than many glass box modern condos.

The location is great, near multiple transportation stops, NYU, can walk to half a dozen great 'nabes.

One possible problem with e 9th is that there is a bus route along it. If you have one of the south facing apartments you get good light, but there could be some street noise. Some people care, some people don't. I would think a higher floor south apartment there would be better.

Also, be sure to check (or have your lawyer check) the buildings' financials. Some buildings keep the maintainance artificially low with a flip tax. That helps old people who have been there forever, but hurts resale value and may not be for a young person who might sell someday.

I think that building is one of the better post-war doormans in the central village, perhaps not quite as nice as, say, 2 or 11 Fifth (which would be more expensive, of course), but one of the better ones.

Hi,
I use to live at 55 East 9th Street and sold my unit. I love this building & I know you are allowed to sublet or rent to students and that parents can purchase for their children. This building has great staff especially the super Jimmy and maintenance staff! If you purchase, here I would recommend a unit that has a view of the incredible garden & its trees. I live in sunny California now, surrounded by beauty in San Francisco and I still miss those trees in the garden courtyard on East 9th Street.