Sponsor co-op pick of the week

A convertible two bedroom in Manhattan Valley for $799,000, no board approval required

By Austin Havens-Bowen | November 22, 2019 - 1:00PM 

The recently renovated living room is open to the kitchen. (Keep in mind the listing images are virtually staged.)

Property Profile/Streeteasy

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."

If you want to be in a quieter part of Manhattan, this two-bedroom, one-bath co-op, 200 West 108th St., #15G, in Manhattan Valley, on a tree-lined street near Central Park, might fit the bill.

Currently on the market for $799,000, it's priced well below the median for two bedrooms in the neighborhood, which is $972,500, according to StreetEasy. The monthly maintenance fee is $1,495. Transfer taxes will be paid by the buyer. 

The price is lower because it's not a true two-bedroom—the second bedroom would be the dining room. If you close that off to make a bedroom, the only natural light is coming from a small window in the kitchen.

The 17-story prewar building was built in 1929, and has a total of 111 units. Amenities include a part-time doorman, live-in super, laundry room, bike storage and storage bins. The co-op allows pets, pieds-a-terre, and co-purchasing. 

The kitchen is on the small side, and has granite countertops and stainless steel appliances, including a dishwasher. 

There are hardwood floors and high ceilings in the bedrooms.

The bathroom was also recently renovated. 

The neighborhood is served by the 1, B, and C subway lines. Local attractions include Lion Head's Tavern and Smoke Jazz & Supper Club. 

 

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