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 sponsor co-op, 2 Fifth Ave., #6R, in Greenwich Village, is priced at $1,575,000 with a monthly maintenance of $1,941. That's well above the $1,125,500 median asking price for one bedrooms in the neighborhood, per StreetEasy—but you’re getting a lot of space for your money.
The open-concept layout has a foyer, which opens to a 22-foot-long living room with large windows. The living space leads to the dining room, where you’ll find the door to a private terrace.
The apartment is in a full-service, 20-story building with 342 other units, amenities include doormen, concierge services, a library, fitness center, resident’s lounge, parking garage, and laundry room—there’s also an in-unit Bosch washer/dryer. There’s no flip tax so you’ll save some cash on the closing costs.
The area is well-served by the subway, with 12 lines, plus the PATH, within walking distance. Nearby eateries include The Grey Dog, Rosemary’s, and Otto Enoteca Pizza. Washington Square Park is only a couple of blocks away.