Sponsor co-op of the week

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

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

StreetEasy 

Share this Article

2020
BRICK UNDERGROUND’S
Holiday Tipping Poll
Holiday Tipping Poll
How much do you plan to tip the building staff this year?

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.