301 East 63 Street   Unit 8C

Southern exposure and an open view equals tons of light! 8C is an L shaped studio with four great closets and a spacious tiled bathroom. The kitchen, with tiled backsplash (added after main kitchen photo), is open to the dining area and looks out to 63rd Street and 2nd Avenue.
There is NO maintenance increase for 2023 (10th consecutive year of no maintenance increase despite increases in labor, taxes and supply costs across the city). Heat, water and gas are also included in the maintenance. The building allows pied-a-terre, gifting, guarantors, parents buying for children and co-purchasing (pending board approval). Sublets permitted. Pet Friendly (1 dog or 1 cat up to 40lbs – max height 20"). Roof can be rented privately by shareholders for a fee.
301 East 63rd Street is NOT A LANDLEASE. The land IS OWNED BY THE COOP. The maintenance includes principal and interest payments for the ‘mortgage on the land from the land purchase'. The higher maintenance means that apartments are priced below comparable apartments in the neighborhood to offset the monthly. All recent capital improvements have been paid for with reserves – NO ASSESSMENTS currently or planned.
The original mortgage from the land purchase was $51,000,000. The corporation refinanced the amount of $39,800,000 on March 11, 2020 at a “FIXED RATE of 3.4%” for 10 years with a 30 year amortization schedule. There is also an option to extend for an additional 5 years at a specifically defined formula. As per a recent year end memo the balance will be $36,329,348 the end of the year 2022.
Bulk rate cable & internet are offered at $61.34 through Spectrum to shareholders who opted in to the program – opt in opportunities occur one time per year. There is a bulk rate deal on electricity as well. Total shares in the co-op are 135,879. The commercial space that Health Nuts and the parking garage occupy also offer income to the coop since the space is leased. Financials available upon request.
**For more details SEE building description. Apartment is tenant occupied – 24 hours notice required for access.