A Washington Heights one bedroom with a bonus room for $749,000, and no board approval
![image](/sites/default/files/styles/new_blog_entry_primary_image_sm/public/blog/images/SCWashingtonLiving.jpg)
There's a breakfast bar between the kitchen and living room and this picture gives you a glimpse of the adjoining bonus room.
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 co-op unit, 158-18 Riverside Dr. West, #5N50, is on the market for $749,000. Prices in Washington Heights have been rising steadily since 2013 and the last one bedroom in the building sold in October 2018 for $715,000, 5 percent below the asking price of $749,000. Of course, with this purchase, you avoid the board approval process and there's often a premium for that.
The building, known as The River Arts Complex, is right on the water and the amenities include a full-time doorman, a package room, gym, community room, live-in super, additional storage for rent, and a garage, although parking spots are currently wait listed. Monthly maintenance is $789.
The unit is on the corner so it has three exposures, with the kitchen and living room getting the southern and eastern light. There's also a bonus room that isn't large enough to be a bedroom but could be used as a home office or den or used to potentially expand the kitchen or living room.
![image](/sites/default/files/SCWashingtonKitchen2.jpg)
There's a breakfast bar between the kitchen and the living room. All the appliances are brand new and as it's a prewar building, it has some of the original arched doorways throughout the unit.
![image](/sites/default/files/SCWashingtonKitchen.jpg)
Units in the building are allowed washer/dryers and the sponsor has them stacked in the kitchen. There's plenty of countertop space as well as a dishwasher and a new cooker.
![image](/sites/default/files/SCWashingtonLiving2.jpg)
The unit opens into a small foyer and the living room. The breakfast bar is a practical addition and there appears to be enough room for a dining table in the living room. Narrow plank hardwood floors are installed throughout.
![image](/sites/default/files/SCWashingtonRoom.jpg)
The bedroom is spacious enough for a king-sized bed. There's a narrow closet along the wall to the left of the bedroom door.
![image](/sites/default/files/SCWashingtonBath.jpg)
The bathroom has a tub, a vanity with a marble countertop, and floor-to-ceiling white tile with decorative trim.
![image](/sites/default/files/Screen%20Shot%202019-04-17%20at%209.15.34%20AM.png)
The layout shows the bonus room with two windows.
![image](/sites/default/files/SCWashintohExterior.jpg)
Buyers are allowed one dog per apartment although there are restrictions on certain breeds. The building also allows unlimited subletting after one year of ownership.
Trains are within a 10-15 minute walk, but the commute to Midtown is relatively short. The closest subway line is the 1 at 157th Street.
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