When you are buying an apartment in New York City, the hefty down payment required by co-op buildings—20 percent or more—can be a major obstacle. For that reason you may want to focus your search on condos—where you often only need to put down 10 percent of the purchase price.
One important consideration: It's easier to buy and own a condo—in addition to putting less down, you don't have to jump through as many hoops to be approved, and you can sublet and renovate more easily—but all of that comes at a price: Condos are on average more expensive than co-ops. You can read more about the differences between buying in co-op vs. condo buildings.
But if a lower barrier to buying is what you're after, here are five condos that allow only 10 percent down in Midtown, Central Harlem, Wingate, Riverdale, and Lenox Hill.
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150 West 51st St., #1510, Midtown
This one bedroom, one bath is listed for $685,000. The corner apartment has parquet floors, high ceilings, stainless steel appliances, central air, and three closets. Amenities include a doorman, concierge, gym, and laundry room. Monthly common charges are $410.
2457 Frederick Douglas Blvd., #4B, Central Harlem
This one bedroom, one bath is listed for $749,000. Apartment #4B has high ceilings, hardwood floors, stainless steel appliances, quartz countertops, central air and heat, an in-unit washer and dryer, and a balcony. Amenities include a virtual doorman and roof deck. Monthly common charges are $381.
401 Rutland Rd., #5C, Wingate
This two bedroom, two bath is listed for $925,000. The condo has a balcony, floor-to-ceiling windows, Samsung stainless steel appliances, quartz countertops, hardwood floors, Bluetooth speakers, and an in-unit washer and dryer. Amenities include a roof deck, terrace, gym, and bike storage. Monthly common charges are $950.
3625 Oxford Ave., #7C, Riverdale
This four bedroom, two bath is listed for $1,195,000. It has two terraces, deeded parking, oversized windows, hardwood floors, recessed lighting, built-ins, stainless steel appliances, and a Bosch washer and dryer. The building has a virtual doorman, roof deck, and gym. Monthly common charges are $1,368 and there’s a monthly $590 assessment through October 2024.
337 East 62nd St., #5A, Lenox Hill
This two bedroom, two bath is listed for $1,695,000. Apartment #5A has a terrace, hardwood floors, high ceilings, floor-to-ceiling windows, Miele appliances, quartz countertops, window treatments, central air and heat, an alarm system, and in-unit washer and dryer. Monthly maintenance is $1,172.
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