E 87th Condo Under $500 psf

$473 specifically. Is there something wrong with this place?

Its a walk -up...did you see the high monthlies....

a 5th floor walk up!

Good luck with this one! It looks good...but you can find a nice space now for that in a doorman building..it needs to be like 750k to make up for the high monthly fees...can't imagine moving in to this...just the cost for the 5th floor walk up...could only imagine!

This apartment has been discussed elsewhere on this site. The problem is that the 4th and 5th floors are not connected. To go between the two, one must leave pass through the common hallway and use the shared stairway. It would work better as multiple units, but then a kitchen needs to be added. Look at the floorplan and you'll understand why it's priced as it is.

Yeah, I totally missed that.

Maybe the plot is, you buy the other half of the top floor and combine...
But, agreed... 4th floor, ouch.

Still, the road to $400 psf has to start somewhere..

The CCs and taxes aren't bad for the size. Taxes usually are low for shitbox tenements at the ass-end of Yorkville. Problem is, as bardamu points out, so much of that space is useless. If you open those airshaft windows to get some air, you're going to hear every fart from downstairs and next door. If you want to see what living in those spaces is like, go see the Tenement Museum on the LES. I lived in one once, and know.

I like hearing farts. It's fun. That alone is worth a least $900 psf.

Yes, but the owners never, ever, live in those buildings. They know better.

Let's see, you could split it back into three railroad flats (just one wall to restore) and rent each one out at, say, $1500. (That's $500 each for the three 22-year-olds who'd be sharing.)

That'd be $1700 per month net. Never mind, you could do much better with treasuries.

I think there's more to the story here. The description on Corcoran's site states the two floors can be easily combined by a staircase, but I can't think of a good reason why the current owner wouldn't have done this already. The kitchen is new and from the picture the place appears to have been renovated sometime in the past few years. And since the lower floor doesn't have a kitchen, it's not as if they're being used as mother-daughter units or in some other independent manner.

I was going to say the owner just ran out of steam, but turns out it's still owned by the sponsor. One unit, block 1584, lot 1106, not a combo.

Agree with NWT. Maintenance is fine for the size. Floorplan is the big problem. Even for neighborhood and walk-up, price would be an amazing deal if it was a usable 2100SF. But it's not.

2.495 in a tenement. BONZO BARF. 995K. BARF.

Isn't that a horrible area by FDR, with projects and hospitals a few blocks up?

ny212, no.

It's half a block from EEA. Location isn't bad if you don't mind being that far east. That row of tenements is pretty much surrounded by much-taller buildings on 86th and EEA, though, so not much sun for much of the year.

> Isn't that a horrible area by FDR, with projects and hospitals a few blocks up?

No, its actually a nice super kid friendly spot (one block off express train block, though a bit over).

End of the block is Carl Schurtz Park.... FDR isn't really a factor (its on the other side of the park, and below).