Co-op of the Day: 175 Willloughby Street, #10H
University Towers isn’t the sexiest place to live but the middle-class housing complex does end up giving buyers a bigger bang for their buck than some of the other big buildings in the area. Take, for example, this apartment on the tenth floor: Three bedrooms, 1,500 square feet, nice light, recently renovated kitchen and baths….
University Towers isn’t the sexiest place to live but the middle-class housing complex does end up giving buyers a bigger bang for their buck than some of the other big buildings in the area. Take, for example, this apartment on the tenth floor: Three bedrooms, 1,500 square feet, nice light, recently renovated kitchen and baths. Price? $649,000. Pretty cheap, right?
175 Willoughby Street, #10H [Corcoran] GMAP P*Shark
cspam, assuming 20% down, those numbers are true. How anyone gets that magic 20% however, is beyond me.
I’m confused. 20% down would leave a mortgage of $400,000-$449,000, depending on what you could get this for. I typed in interest rates and they are below 5%. That would leave you a mortgage around $2000-$2500 a month, yeah? For a 3 BR with parking? That’s way cheaper than rent.
Until relatively recently, most working class and middle class — and many upper middle class — people in NY rented. You CAN live in NY making a modest (single) income and rent! Yes, these days, you have to be willing to commute some to do that, but it is possible. Not only is it possible, but NY is one of the few cites in the US where it is often more financially sound to rent than to buy. Didn’t we just see this the other day: http://trulia.movity.com/rentvsbuy/
Maybe it’s because I fail at math, but I don’t understand how paying $4K a month on $200K makes any sense whatsoever. Believe me, I wish I did, because everything I want to buy costs about that much.
Well, bdeis01, I disagree with you on some of your Kingsview opinions. IMO, the hallway floors were clean enough to eat off and the setting is much prettier than U. Towers. But perhaps your comment about the board is on the money. Their subletting committee was very tough so I can only imagine what they are like with prospective buyers.
yep! pretty soon youll have to be a doctor with three working wives just to afford a decent one bedroom in the outer boroughs!
*rob*
That’s a good point… Polygamy would be *very* economically attractive in this town!
i agree 100 percent with tybur. nyc’s economy is very anti single person! it’s really annoying. im shocked manhattan isn’t an island that consists primarily of polygamists and trust fund brats
*rob*
There is also the *other* quirky (irrational) thing about NYC. There is a bottom end where a property shouldn’t be owned! These are the MAJORITY of the 210 Brooklyn properties on Street Easy for under $200k. These are crappy ass rental units, but you can own them!