Sponsor co-op of the week

A renovated Sutton Place two bedroom with a gourmet kitchen, no board approval required

The apartment has original prewar details including oak floors, plaster moldings, and high ceilings.

Compass

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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 newly renovated two-bedroom co-op, 419 East 57th St., #12F, in Sutton Place, is on the market for $1,300,000, slightly below the neighborhood’s median of $1,450,000 for two-bedroom apartments, according to StreetEasy. 

The apartment has two bathrooms, a gourmet kitchen, and an in-unit washer/dryer. The pet-friendly building’s amenities include a resident manager, 24-hour doorman, bike room, gym, and a roof deck.

There is a 2 percent flip tax that will be paid by the buyer, and a $2,858 monthly maintenance fee.

The kitchen features new stainless steel appliances, quartz countertops, and lots of storage.

Both bedrooms have walk-in closets.

Both bathrooms are windowed.

The roof deck was recently expanded and replanted.

The floor plan shows the apartment has two additional walk-in closets off the entryway.

The full-service building is within walking distance of Bloomingdale’s, Whole Foods, and popular restaurants like Neary’s and Serendipity 3. There are two subway stations within a 10-minute walk where you can catch a total of eight trains.