No-Fee Apartment of the Week: Two-bedroom luxury 'nondo' at the William Beaver House, $5,300/mo

By A. Ready | February 10, 2011 - 12:46PM

The William Beaver House, located at 15 William Street in the Financial District, has seen some troubled times. But following a recent change in ownership, 209 unsold condos will be made available for rent. Our no-fee apartment of the week is 11E, a 1,300 square foot two-bedroom, two-bathroom brand-new unit with an in-unit washer/dryer. The building has a full slate of amenities, from an outdoor jacuzzi to penthouse sky lounge with catering facilities.

The asking price of $5,300 seems reasonable for a condo with high-level finishes. Making the price even more compelling is a comparison to the earlier sale of unit 8E in February 2009 for $1,725,668. With a hypothetical mortgage involving 20% down at 6% interest, total monthly costs to buy, before tax benefits, would be slightly less than $9,500.

No-Fee Apartment of the Week is writer A. Ready's weekly independent selection of a no-fee rental that she believes reflects good value given current market conditions. It is not an advertisement, nor is it paid for by any company/website mentioned.

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