real estate craziness

Every now and then I post a little something about the real estate market out east here. Now of course Manhattan and some of the surrounding boroughs are perhaps pricier than most areas in the country, but even so, the NY Times Real Estate section, each week caters to all levels of income generators in this great area who are looking for a new place to call home.

Today's "steal" for 250K or under is as follows:

A studio Co-op (note: vs a condo or apartment, a co-op by definition is a legal entity—usually a corporation—that owns real estate, consisting of one or more residential buildings. Each shareholder (read: tenant) in the legal entity is granted the right to occupy one housing unit, sometimes subject to an occupancy agreement, which is similar to a lease. The occupancy agreement specifies the co-op's rules (side note: which often there are MANY and you have to usually be voted in before you can move in).

In a Pre-war building (note: as are TONS of buildings here. Pre-war means built prior to WW II and while many have been restored--some have not meaning no elevators and definitely no air conditioning or even dishwashers/garbage disposals).

Located on the Upper West Side (note: totally cool area, not too uppity but for sure a classy cool area... one I would LOVE to live in... but I digress. Sorry).

With an elevator in the building and a marble bathroom in the unit.

There is no doorman, which is a negative. Doormen add much more safety... but also much more $$.

No washer and dryer in the unit (note: this is common)

All of this can be yours, for the price of $250K PLUS $425 a month maintenance.
Oh wait, I almost forgot----the size. its 200 SQ FT.

Now that marble bath doesn't seem so fancy huh?

To give you a visual, the NY Times ran a piece last summer on small living areas and featured this place owned by Rose (posing in the picture on her Murphy bed). The only thing not visible is the toilet and small shower which are behind the door behind her head--otherwise, this is her entire living space and its 320 sq ft--- nearly double the size of the one I describe above.


  1. Andrea said...

    Wow! That really is craziness:)  

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