Co-op of the Day: 167 Sands Street, #215
As you may recall from this post in 2008, 167 Sands Street is a bit of an unusual co-op building. Wedged in between the BQE and the Farragut Houses, the 120-unit building is beautiful from the outside but the interior seems like it’s seen better days. Which might have something to do with this two-bedroom…
As you may recall from this post in 2008, 167 Sands Street is a bit of an unusual co-op building. Wedged in between the BQE and the Farragut Houses, the 120-unit building is beautiful from the outside but the interior seems like it’s seen better days. Which might have something to do with this two-bedroom is listed in the Marketplace for an eye-catching $149,000, even with a maintenance of only $649. For what it’s worth, the building residents appear to be almost entirely Chinese.
167 Sands Street, #215 [Fillmore] GMAP P*Shark
I viewed a “2 bedroom” unit in this building a few years ago because I was intrigued by the price. It was a dump back then. There was noone at the “security desk” who spoke English. The unit I saw was basically a studio with removable partitions to make up the bedrooms. It had an efficiency kitchen, very small bathroom and living area. The building hallways were long and poorly lit. The elevator was also dimly lit, very unsafe vibe.
One of the interesting facts about this building is that it seems to be the only Sands St building remaining from when the area was a major built up strip complete with trolley’s theaters etc. This stretch was almost completely demolished for the BQE and now it remains a semi-isolated area. Despite its current state, I’m imagining that it could have a lot of potential if ownership ever cleaned up its act.
Yes, many, many places in this city for under $300/square foot, including safe and convenient areas such as Jackson Heights.
I take it back.
I just did a search on SE, and apparently, there are lots of places under $300 sq/ft. Many in the Bronx, Riverdale, and a few in Queens and Brooklyn.
But, this place is still extremely cheap, considering how close it is to Manhattan and desirable parts of Brooklyn.
You can sublet this building immediately…Id buy it for 60k max. Im sure you canrent it for 1200-1400. Make a few hundred a month and hope that the building will change…either you make a huge profit or you sell it…cant sell it for much less than the 60k you paid for it…that’d be scary.
Rob is right that there are some nice coops that could be had for 100k or lower but those are usually all-cash deals. at that price, it’s usually decent size studios. decent hoods (sunset park, forest hills, jackson heights, bay ridge). It’s also not prevalent but do see them once in a while.
“Very nice coops under $100K in other parts of the city.”
How many of them are in locations where you’d personally be willing to live for free?
rob-
Where are there 2BR apts in NYC for under $300 sq/ft?
Plus, it says “PRESENT ALL OFFERS!”, so it will probably sell for less than $150K. Maybe it’s really only $250 sq/ft… that IS cheap, no matter where you look in NYC.
i love how people in this thread keep saying omg it’s so cheap it’s so cheap. it really isn’t. you can very nice co-ops for under 100K in other parts of the city. i guess the location here is good, but who wants to live like that if all these things about the place are true? i’d rather live next door in the farrugut houses actually.
*rob*