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."
The listing for 200 West 86th St., #19J, says there’s "an opportunity to create your dream home" at this two-bedroom, two-bath co-op. That kind of wording should make you wonder how much renovation needs to take place before you can reach that lofty goal. Since there are no pictures of the kitchen or bathrooms, you know immediately which rooms you’ll have to gut. Still, the co-op has a lot going for it.
First, it's in a great location—a five-minute walk from Central Park with access to all the bars restaurants, big box stores and boutiques the Upper West Side has to offer. Next, it's being offered at $1,450,000, which is below the median price of $1,795,000 for a two bedroom in the area.
The virtually staged sunken living room looks like a good spot to hosts friends for the evening. The step down gives the space extra height and the stylish herringbone wood floors look to be in good condition. The iron railing is a distinctive Art Deco feature that fits the style of the prewar building. The living room window fills the end wall and is south-facing, which is the best orientation for maximizing sunlight.
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That said, it's time to talk about the kitchen, which frankly looks more like a walk-in closet to the left of the living room, with a slatted folding window shutter for a door. There is a window in the kitchen as well as refrigerator, dishwasher, and range but it's safe to assume it needs a total overhaul. The area outside the kitchen is listed as the dining area and there's certainly scope here for opening up the room into a more practical eat-in living space.
The bedrooms look like they will both comfortably accommodate king-sized beds and even some additional seating. The south-facing bedroom has two walk-in closets. Both have hardwood floors and have en-suite baths, which give you a little extra privacy—until your guests need the bathroom and have to go through your bedroom to find it.
Without pictures of the bathrooms, it's hard to tell what kind of state they are in, but they probably need gut renovations.
Monthly maintenance fees are a sizable $2,668 and go towards the building's full-time staff including a 24-hour doorman, concierge, and live-in superintendent. Other amenities include a roof deck with city views, a gym, a large playroom, bike room, laundry room and storage rooms in the basement. It is pet-friendly as well.
Built between 1929 and 1931, the building has an impressive lobby with etched glass doors and a black, white, and silver color scheme throughout. There are three separate wings and four apartments on every floor. Each wing has its own set of elevators.
The area is well served by transit, just a block from the 1, 2 and 3 trains and two blocks from the A, C, B and D lines. Improvements to the A and C lines are in the pipeline. Central Park and Riverside Drive are on your doorstep and there are planned upgrades to nearby skate parks, bike paths, and two playgrounds under construction are expected to open next year.
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