Co-op of the Day: 154 South 3rd
If you made more than $59,500 in either of the last two years, you can stop reading now. That’s the income cut-off to qualify as a buyer of this affordable one-bedroom co-op at 154 South 3rd Street in Williamsburg. Of course, just because it’s “affordable” doesn’t mean that it’s affordable. In this case, the asking…
If you made more than $59,500 in either of the last two years, you can stop reading now. That’s the income cut-off to qualify as a buyer of this affordable one-bedroom co-op at 154 South 3rd Street in Williamsburg. Of course, just because it’s “affordable” doesn’t mean that it’s affordable. In this case, the asking price of $279,000 for what’s not exactly a large-looking apartment doesn’t seem like a deal to us; and even if it were, the monthly nut on this place is still going to come in around $2,000, hardly a lay-up for someone pulling down $50,000 or $55,000 a year. The seller has to try for a high price, though, if he wants to make any money: The building has a 40% flip tax.
$279000 1 Bedroom Co-op [Pari Passu] GMAP P*Shark
awwww- struck a nerve? I do make dough. I don’t need to live off daddy to pay for my ferragamos. I even know what marxism and communism are. But then, I had a better quality education than you did. And better manners. Even better shoes. Try again, little elitist.
Oh lurker, you’re such a scary old Marxist.
your just make me quake in my Ferragamos.
Get a life asshole. Your side lost the Cold War.
Sell your vintage Che Guevara T-shirts on Ebay and
make some dough for once in your life.
11211- that would be gary cooper.
gary- please. run home to daddy in your little bmw and please please please get an education before you post again. Please. Or take your own advice and live in public housing until you can retire. You’ll be such an American. Like George!
“the monthly nut on this place is still going to come in around $2,000”
what is monthly nut
i dont understand why the members dont elect to erase the income restriction.
they could double/triple their equity overnight.
I don’t get these kinds of buildings. They seem un-american.
This is the kind of thing you see in countries that are uncomfortable with the concept of private property.
Better to live in public housing, save your dough, and buy a retirement home in Pa or NC. You know? at least by buying a real home some day, you will be followng the American, rather than the Soviet, model.
hey – i know someone who did this in another building nearby -almost the exact same scenario. she moved into a pretty crappy place negotiated her a** off to get in crew to do renovations and now has a small 2 bedroom and rents out the second room. i know you all here are not burg fans per se, but the rents in the area are quite high. anyway, it’s all really worked out, and she’s even on the board now.
fyi – she had the cash from a payout to get out of a rent controlled place in the east village. also, she’s mostly a free lancer who meets the income restrictions.
remember, you just have to find one person not thousands to make a sale.
This is utterly ridiculous.
I fit the salary range – alone – but the notion that I would eliminate my wife’s income and then afford a $279,000 purchase personally… Lunacy!!
More important, does anybody have an idea how somebody making the prescribed income manages to obtain a mortgage with a ~$2,000/month payment??
In this market that Bank would have to be psychotic.
Unless, could you have a co-signer and still qualify??
Some more info on affordable housing:
http://www.nyc.gov/html/hpd/html/buyers/lotteries.shtml