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This is what you get for $1,900,000.00 in NYC

9/4/2013 - By Marea Edynak

Many visitors to NYC can’t understand why the hotel and vacation rental rents are so high in Manhattan. In many areas of the world you can buy a lot for almost 2 million dollars. In some places you can even buy a castle.

 

Two million dollars does not go far even in northern Manhattan. Look at what you get for $1,900,000. The fireplace mantle looks nice and you get a 5 bedrooms and 4 bathroom townhouse. The rest....to put it mildly....leaves a lot to be desired.

It might take you well over a year and another million dollars to fix it up and get a Certificate of Occupancy.  On the plus side the taxes are low at only $5619 a year at the monthly mortgage payment is estimated at $9828 a month with 20% down ($380,000). The taxes will go up for sure once the house is fixed up.

 

The seller will entertain offers so you will probably be able to shave a little off of the asking price. For more photos go toTrulia.com.

 

How much rent would you have to charge a month for this townhouse to break even?

 

Listing Details

 

1,464 views

200 Below 125th Street

200 Below 125 St Price is $1,900,000 or best offer. Seller prepared for a quick closing so bring offers. NOT and SRO; bldg does not have CO but most recent I-card from 1942 specifies bldg class as D1. NOT within landmark district (although it's in proposed expansion zone of MMP). Taxes are low - $5619/year. Building Dimensions 20' x 48' ~ 960 S.F. Lot Dimensions 19.92' x 80' ~ 1594 S.F. Maximum allowed FAR ~ 3.0 S.F. ~ 4871 S.F. w/ leftover 621 S.F. for penthouse. 1-story garage estimated at 20' x 16'. Zoning R6A/125 but 125th district was re-zoned in Nov '12. New 125th St. district includes FAR bonuses...for Arts & Entertainment uses. Located very close to 4-5-2-3 (express) Subway Stations at respective 125th St. Stations Walking distance < 3 minutes to new Whole Foods @ 125th St. (Summer 2015)
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·         Provided by: Harlem Lofts Inc. 

·         Broker: Harlem Lofts Inc.

·         Listing Agent: Holly Williams

 Write a personal note about this listing

·         Price: $1,900,000

·         5 Bedrooms

·         4 full Bathrooms

·         Townhouse

·         Deck 

·         Status: For Sale

·         Victorian Architecture

·         Rooms: 10

·         MLS/Source ID: 901673



http://www.vacationrentalsinnyc.com/blog/274/1020
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