Sponsor co-op pick of the week

A renovated Chelsea one bedroom for $895,000, no board approval required

By Austin Havens-Bowen  |
March 6, 2020 - 10:00AM

Apartment #62, shown virtually staged above, was originally listed back in June 2018 for $979,000.


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 one-bedroom, one-bath sponsor co-op, 130 West 16th St., #62, in Chelsea, is on the market for $895,000, which is quite low compared to the neighborhood's median for one bedrooms, currently $1,249,500, according to RealtyHop. 

Apartment #62 was originally listed back in June 2018 for $979,000 and was re-listed in October 2018 with a price drop to $969,000—and has been on and off the market since, with several fluctuations in price.

The apartment is located in a 1927 building with 42 units and six stories. Amenities include a bike room, live-in super, elevator, and roof deck. Pets are welcome with board approval. Monthly maintenance is set at $971.

130 West 16 Street, New York, NY, 10011

The custom kitchen features white gloss cabinetry, Calacatta marble countertops, and stainless steel appliances including a wine cooler.

130 West 16 Street, New York, NY, 10011

The bedroom, shown virtually staged above, has a window and two closets.

130 West 16 Street, New York, NY, 10011

The bath has travertine-tiled floors and walls. 


You can catch the E, F, M, and L trains at the 14th Street Station, about a two-minute walk from the building. If you want a little culture, The Rubin Museum of Art is around the corner. Nearby restaurants include Cafeteria and Freds Downtown. 



Austin Havens-Bowen

Staff Writer

Staff writer Austin Havens-Bowen covers the rental market and answers renters' questions in a column called Realty Bites. He previously reported on local news for the Queens Ledger and The Hunts Point Express in the Bronx. He graduated from Hunter College with a BA in media studies. He rents a one-bedroom apartment in Astoria with his boyfriend and their two cats.

Brick Underground articles occasionally include the expertise of, or information about, advertising partners when relevant to the story. We will never promote an advertiser's product without making the relationship clear to our readers.