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."
It’s one thing to find a one-bedroom apartment priced below the median for a neighborhood, it’s even more of a coup when that apartment is newly renovated and comes with a private garden.
That’s the story for this sponsor co-op, 435 East 85th St., #Garden-2, located in the Yorkville section of the Upper East Side, where the median for a one bedroom is $799,000, according to StreetEasy. The apartment is listed for $650,000.
Features include high ceilings, 4-inch solid rift-sewn white oak floors, recessed lighting, wiring for both cat 5 and HDMI connectivity, a new through-the-wall Friedrich AC, and new exterior windows.
The kitchen has Silestone countertops, custom-built cabinets, and Bosch and Fisher Paykel appliances, which include a dishwasher. Based on the photo, there appears to be a wall of cabinets at the end of the room. The area outside the kitchen is large enough for a small dining table. There’s also a washer/dryer closet off the entrance foyer.
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The bedroom overlooks the garden and has an 8-foot-by-3-foot walk-in closet. There’s an additional closet in the foyer (separate from the laundry closet).
Bathroom finishes include Grohe and Hansgrohe hardware. The description also mentioned plumbing and faucet by Toto and Kohler.
The 540-square-foot L-shaped private garden is accessed off the apartment’s living room.
The four-story building was constructed in 1958 and has a live-in super. All purchasing types are allowed for this apartment, including co-purchase, gifting, and pied-a-terre. Monthly maintenance is $1,293. There is currently a monthly assessment of $189.35 through March 2019 for a new boiler.
Located between First and York avenues, the building is close to the Second Avenue subway Q station at 86th Street. Carl Shurz Park is a block and a half east. Shops and restaurants line the bordering avenues.
An open house is scheduled for Sunday, August 19th, from noon-1:30 p.m.