Welcome to Brick Underground’s sponsor apartment pick of the week, where we feature a co-op for sale by the owner of the building. You do not need board approval to buy these apartments, they are often newly renovated, and they typically require a down payment of only 10 percent, versus the 20 to 25 percent that most co-ops demand. In exchange for the condo-like ease of acquisition, expect to pay a bit more than a regular co-op, but considerably less than a condo. For more information, check out "Everything you ever wanted to know about sponsor apartments but were afraid to ask."
This newly renovated, four-bedroom unit, 440 East 62nd Str., #17BC, is on the market for $2,000,000, and while there's no data on the median price for four-bedroom units in Lenox Hill, the asking price is well below the $3,295,000 median sales price for a three-bedroom unit in the neighborhood, according to StreetEasy.
The apartment is a combination of two units (17B and 17C) and has hardwood floors, white walls with subway tile and quartz countertops in the kitchen. It also has a washer/dryer in the unit, which is unique to the building and additional space for a den or play area. The building is pet friendly and amenities include a 24-hour doorman, a live-in super, parking spaces for an additional fee, a laundry room, bike room and a shared roof deck. Of course, this comes at a price—monthly maintenance for the unit is $3,105.