If you’re looking to buy a sponsor co-op in New York City right now, you have more options to choose from, possibly a result of Covid deaths. Brick has found that listings of these apartments are up about 50 percent from before the pandemic.
Buying a sponsor co-op means that you’re exempt from co-op board approval, and you can forgo the board meeting. So the process is easier—and faster. Other benefits: You can put down a lower deposit and many are usually newly renovated.
But, there are also downsides to buying these types of apartments that you should consider. Sponsor units are usually priced higher than co-op resales, but are still less than buying a comparably sized condo. And, closing costs tend to be higher because you usually have to pay a transfer tax.
So, if you are considering buying a sponsor co-op, consider these five for under $1,000,000 in Turtle Bay, Jackson Heights, West Village, Washington Heights, and Hunters Point.
321 East 43rd St., #405, Turtle Bay
This two bedroom, one bath is listed for $795,000. The gut-renovated co-op has hardwood floors, beamed ceilings, custom lighting, moldings, stainless steel Bosch appliances, and four closets. Amenities include a full-time doorman, laundry room, and access to a gym in a nearby building. The United Nations Headquarters and restaurants like Tudor City Steakhouse are nearby.
73-12 35th Ave., #C1, Jackson Heights
This three bedroom, two bath is listed for $899,000. Apartment #C1 features hardwood floors, recessed lighting, high ceilings, crown molding, several windows, original archways and stainless steel appliances. Located in a landmarked building, amenities include a live-in super, part-time doorman, bike room, laundry room, storage, and gym. Restaurants like Arepa Lady and the Roosevelt Avenue-Jackson Heights subway station are nearby.
33 Greenwich Ave., #5H, West Village
This one bedroom, one bath is listed for $975,000. The apartment has hardwood floors, oversized windows, stainless steel appliances, granite countertops, and three closets. Amenities include a 24-hour doorman, live-in super, gym, roof deck, laundry room, and bike room. Rosemary’s and Quality Eats are nearby.
159-00 Riverside Dr., #6M-70, Washington Heights
This two bedroom, one bath is listed for $975,000. The apartment has original hardwood floors, arched doorways, recessed lighting, stainless steel appliances, four closets, and an in-unit washer and dryer. Amenities include a full-time doorman, live-in super, gym, bike storage, laundry room, and parking garage. Fort Washington Park and the Hispanic Society Museum & Library are nearby.
42-14 Crescent St., #8A, Hunters Point
This two bedroom, two bath is listed for $985,000. Apartment #8A has hardwood floors, recessed lighting, stainless steel appliances, a breakfast bar, walk-in closet, southern exposures, and an in-unit washer and dryer. Amenities include a doorman, roof deck, gym, bike storage, and private storage. Queensboro Plaza and The Baroness are nearby.
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