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."
This Jackson Heights apartment, 79-01 35th Ave., #6F, is a one-bedroom in a prewar co-op offered for $439,000. The asking price is above the median of $350,000 for one bedrooms in the area and a similar-sized unit sold in the building for $390,000 last year. This apartment is in good condition though, and retains some of the prewar features, like arched doorways. It also has a renovated kitchen that’s open to the living room.
The Arlington was built in 1939 and has 47 apartments and six stories. Most of the units are studios or one and two bedrooms. There’s an elevator, laundry facilities in the building, a live-in super and shared a courtyard and garden. Monthly maintenance fees are $682.
The kitchen alcove has a breakfast bar that's open to the living room. Prep and pantry space is limited. There's a small window and plenty of lighting. No sign of a dishwasher or microwave though.
There's a slim foyer area by the entry. The living room has herringbone hardwood flooring that looks to be in good shape.
The bathroom has subway tile. There's not a lot of storage in here but you might be able to put a few things on the window sill.
The bedroom has windows on two walls and there are are two slim closets by the door.
Pets aren't allowed in the building but the co-op rules allow guarantors, subletting and parents buying for their kids. Trains are within a 10- to 15-minute walk, but the commute to Long Island and Midtown Manhattan is relatively short.
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