Welcome to Brick Underground’s sponsor apartment pick of the week, where we feature a co-op for sale by the owner of the building. You do not need board approval to buy these apartments, they are often newly renovated, and they typically require a down payment of only 10 percent, versus the 20 to 25 percent that most co-ops demand. In exchange for the condo-like ease of acquisition, expect to pay a bit more than a regular co-op, but considerably less than a condo. For more information, check out "Everything you ever wanted to know about sponsor apartments but were afraid to ask."
The renovation of this one bedroom in Chelsea, 130 West 16th St., #62, was completed in the past year and the unit is being offered at $969,000, which is on a par with the current median price of $972,000 for similar sized units in the area. The unit was listed last year for $979,000 but didn't sell. Three other one-bedroom units changed hands in the building last year for prices ranging from $700,000 to $970,000.
The prewar building has 42 units and six stories; amenities include a live-in super, laundry room, bike room, and a shared roof deck. Monthly maintenance fees are $971.
The kitchen has white gloss cabinetry and a Calacatta waterfall island countertop. There's a 36” refrigerator, a microwave, a wine cooler and a six burner stove.