Done Deals
Published: 11/3/2005Source: The New York Sun1-bedroom condo
Asking price: $650,000
Selling price: $625,000
Time on market: about 3 months
WHAT THEY NEEDED The couple who bought this apartment wanted a co-op but worried about passing muster with a co-op board. She works in business; he earns a modest salary working for a church but does get a generous housing allowance.
This 769-square-foot condo required only 10% down, with no board approval necessary. "It has the amenities of a condo, but the lower closing costs of a co-op," the Citi Habitats broker who represented the buyers, Noah Rosenblatt, said.
"And they were buying shares in a corporation like a co-op. It was the perfect solution for what this couple needed."
Amenities included a washer and dryer in the apartment, 24-hour concierge service, and a free health club. The unit faces north and east, and the 30-foot living room could be converted to a second bedroom, the GHK broker who represented the seller, Rita Fisher, said.
Kim Rand of Corcoran also represented the seller.