INVESTOR OPPORTUNITY in legendary Tudor City co-op 320 East 42nd Street: RENT-STABILIZED tenant in place, so this property is an INVESTOR PURCHASE ONLY SHOWING BY APPOINTMENT ONLY. 320 E. 42nd Street Apartment 3204 is a two bedroom/two bathroom view apartment conveyed with a rent-controlled tenant for investor purchase only, but should be considered for its rarity: on the top floor (only two apartments on this floor) of 320 E. 42nd Street Tudor City, Apartment 3204 has legendary views of the East River, UN and Midtown from north and east exposures. In addition to the protected views, the two bedroom/two bathroom coop unit has prewar details including hardwood floors, beamed ceilings and casement windows. Direct views to the iconic UN buildings, Chrysler Building, multiple water views of the East River and endless sunlight make 320 E. 42nd Street Apartment 3204 in Tudor City the ultimate investor purchase. Please contact exclusive broker for more information.
Woodstock Towers is a landmark prewar coop building with excellent financials, central to all subways, Grand Central and Penn Station with easy access to every part of NYC Gardened backyard and laundry room on main floor lobby level. Fitness center and storage available for a small additional fee. Near 2 landmark parks both with playground. Pied a terre and co-purchasing allowed. Woodstock Towers is a full-service building with 24-hour staff, electronic mail check-in system, exclusive Garden, Fitness Center and Laundry Room. Bike Room and Storage available for a small fee. Pet friendly with Heat, Hot Water, and Electric included in maintenance.
"Under the existing tax code, when real estate investors generate losses from gradually writing down the value of their properties, a process known as depreciation, they can use some of those losses to offset other taxes. The result is that people can enjoy big tax breaks stemming from only-on-paper losses, even if they enjoy big cash profits in the real world. But the use of those losses was limited by the 2017 tax-cut package. The losses could be used only to shelter the first $500,000 of a wedded couples nonbusiness income, such as capital gains from investments. Any leftover losses got rolled over to future years." -NY Times 3/26/2020