ATTN Investors: 328 West 86th Fire Sale
A: Check out this listing that is less than 3 weeks on the market in a Pre-war UWS Co-op at 328 West 86th street. With a rent stabilized tenant in place paying a low $745/Month, this seller is chopping the asking price down to under $400K while another 1BR in the same building and line is asking $750K!
I told you deals will popup every once in a while! This deal has a catch though. The catch is you can't live in the apartment because of a rent stabilized tenant that is living there. What I do not know is how long of a lease the tenant has and if the tenant has an option or right to extend the lease. Still, here is your chance to own a 1BR Co-op in the Upper West Side with NO BOARD APPROVAL at way below market value. Here are the details:
328 West 86th Street: Apt 14B
Size: 750 Sq. Ft.
# Beds: 1
# Baths: 1
maintenance: $696 (LOW - includes taxes as well!)
Asking: $399,000
Price Per Sq. Ft.: $532 (Holy Snikees!)
Marketed By: Ray Kiswani of Bellmarc Realty
Apt. 14B Floorplan
FYI: Apt. 10B in this building is currently being offered for sale at $750K, with maintenance slightly lower at $584/Mth because of the lower floor. Assuming the same total size, this apartment is asking $1,000/Sq. Ft. which shows the value for the above referenced apartment.
Good Luck!
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