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2 bed/conv 3 on upper west

Started by skeptical
almost 17 years ago
Posts: 101
Member since: May 2007
Discussion about
I am looking to purchase with in the next 6 months. What are the odds I can find a 2 bed/2 bath (convertible to 3 bed) with maintenance below $1,800 for 900k or lower? I guess I need to check out Lincoln Towers as that seems to be the only apts that pop up on my search that fit that criteria. I do not want to go above 90th street. If anyone has any apts in mind or ideas, I'd appreciate it.
Response by West81st
almost 17 years ago
Posts: 5564
Member since: Jan 2008

Can we use Google? ;o)

Seriously, you're on the right track with Lincoln Towers. 2166 Broadway tends to be a price leader too, though it will push your upper limit for maintenance. Neither of these has hit your price point yet, but they are headed in your direction and it never hurts to ask.

I think your chances are quite good, as long as you can do without a doorman or amenities. We're already starting to see decent listings like this one, asking slightly under $900K: http://www.bhsusa.com/detail.aspx?id=944489. An offer was supposedly accepted on that one last week; don't know the amount. BTW, there's an FSBO on the fifth floor of the same building that has already been converted to 3BRs. The asking price is much higher, but it will have to come down.

There are tons of mid-block, non-doorman coops in the 70s and 80s - especially between RSD and WEA or between Amsterdam and Columbus - that are approaching your range. In the current environment, anything asking under $1.2MM could easily drop to $900K. If you need a doorman, you might have to go above 90th for now, but maybe not for long. Good luck.

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Response by skeptical
almost 17 years ago
Posts: 101
Member since: May 2007

thnx West 81st...We could do without doorman.
I've seent that one you linked too but that would be tight as a 3 bed. 2166 maintenance kills it for us.
"ton of midblock..." on SE? I haven't seen that many convertible to 3. Are they on NYTIMES?

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Response by uwsmom
almost 17 years ago
Posts: 1945
Member since: Dec 2008

this one's been on the market for awhile, http://www.streeteasy.com/nyc/sale/368361-coop-245-west-74th-st-upper-west-side-new-york

they're asking $5600 for rent, so....

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Response by alpine292
almost 17 years ago
Posts: 2771
Member since: Jun 2008

In the Lincoln Towers 2 bedroom, there is a dining alcove right off the living room that can be converted to a bedroom very easily. You might be able to buy there for $900k if the unit needs work. However, don't hold your breath waiting for the prices to fall because a lot of people who own there bought during the conversion for pennies on the dollar and have no mortgage. So it's not like a desperate seller is going to pop up.

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Response by Trompiloco
almost 17 years ago
Posts: 585
Member since: Jul 2008

West81st, I know the east side is not your area of expertise, but are there also many non-doorman coops there (below 96th) or are they more common in the west side? I'm somewhat in the same situation than skeptical, although with less budget and focused in lower maintenance.

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Response by xellam
almost 17 years ago
Posts: 133
Member since: Sep 2008

http://www.streeteasy.com/nyc/sale/391077-coop-309-west-86th-st-upper-west-side-new-york

It's 2 bed / 1.5 bath...but you could probably cram a small shower into the 1/2 bath if needed. Looks to be about 1100sf.

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Response by skeptical
almost 17 years ago
Posts: 101
Member since: May 2007

need a convertible to 3 but thnx xellam

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Response by ord
almost 17 years ago
Posts: 32
Member since: Feb 2009

Have you considered Morningside Heights? I know you said that you didn't want to go above 90th, but that area around Columbia has a nice feel. I'd choose to live up there over Lincoln Towers any day--at least there are cafes, bookstores, etc when you walk out your front door. West End in the 60s is just much more isolated.

Here are two possibilities for that neighborhood.
http://www.streeteasy.com/nyc/sale/211270-coop-600-west-111th-st-morningside-heights-new-york
http://www.streeteasy.com/nyc/sale/349623-coop-500-west-111th-street-morningside-heights-new-york

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Response by West81st
almost 17 years ago
Posts: 5564
Member since: Jan 2008

skeptical: Sorry... didn't mean that there are tons of current listings; I haven't checked. But there are plenty of modest fives and sixes that can be pressed into service as 3BRs. Here's an example of the sort of building I was thinking of, though this particular unit is still well above your budget:
http://www.streeteasy.com/nyc/sale/391420-coop-324-west-83rd-street-upper-west-side-new-york

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Response by West81st
almost 17 years ago
Posts: 5564
Member since: Jan 2008

Trompiloco: On the East Side, in that price range, I think you'd be looking at a post-war five, east of Third. As you said, not really my turf.

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Response by uwsmom
almost 17 years ago
Posts: 1945
Member since: Dec 2008

This probably doesn't qualify as a conv 3 right? http://www.streeteasy.com/nyc/sale/384271-coop-136-west-75th-street-upper-west-side-new-york

The Brickhouse appears to be a very well maintained building.

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Response by skeptical
almost 17 years ago
Posts: 101
Member since: May 2007

ORD - no desire to go up there but thnx. Looked there in 2007 and thank goodness we didn't pull the trigger.
West 81st - looks ok and the maintenance is great but looks like 1.5 bath and would need it come in 25%.
UWS - eh, not great. Guess I will keep holding out and hope I find something decent. I know I will have to compromise on some aspect. If not, it will be off to buying in the 'burbs!
thnx guys

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Response by Trompiloco
almost 17 years ago
Posts: 585
Member since: Jul 2008

This is a convertible 3, although the 3rd br would be minuscule. The price looks good, maint. high but not insane. I think the zoned school is not great.

107 West 86th Street #8A

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Response by newbuyer99
almost 17 years ago
Posts: 1231
Member since: Jul 2008

Why do you need to buy or else move to the suburbs. Why not rent?

We are currently renting what you describe, with a doorman, huge outdoor space, for under $5K. And I think we're overpaying, since we signed lease in early december, and rents have continued coming down.

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Response by West81st
almost 17 years ago
Posts: 5564
Member since: Jan 2008

Skeptical: Right - I should have given an example in the "W" line instead of "E". The low 80s tend to be a little pricey anyway.

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Response by skeptical
almost 17 years ago
Posts: 101
Member since: May 2007

Trompilico - Looking for a conv 3, this is only a 2 but thnx.
Newbuyer99 - I want to take advantage of the dip in the market and low mortgage rates and just time to own for our family personally (next 6-9 months is our time horizon). Just tired of renting, want a home of our own. Just personal preference (not meant as an attack on the career renters on the board...of which I have been one for 10 years but see this as a great opportunity to buy in the city or the 'burbs)

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Response by uwsmom
almost 17 years ago
Posts: 1945
Member since: Dec 2008

FWIW - http://www.streeteasy.com/nyc/sale/380554-coop-35-west-82nd-street-upper-west-side-new-york

I just stumbled upon this listing and it made me think of this post...nice apartment (i think spinnaker wrote this one up somwhere), nice location, only one bath, but....I think there's hope skeptical.

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Response by lajeep405
almost 17 years ago
Posts: 124
Member since: Jul 2007

Chances are, as the closer you get to your 9 month wait the selection will be getting larger.

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