Top Five Co-ops That Are Currently For Sale In The Big Apple
Buying a co-op means an opportunity to own relatively cheap real estate in the Big Apple.
Oh, the ordeal of getting approval from a co–op admissions committee. This notorious process is rigorous, painful, and makes you question your own sanity. We at Agorafy wouldn’t wish that on a worst enemy. Dealing with co-op boards means torture. It also means—when and if you manage to get that approval—an opportunity to actually own real estate in the Big Apple. You see, NYC co-ops are significantly cheaper than, say, apartments or condos. And by “significant,” we mean half the price.
We know, we know, technically, you don’t “own” a co-op—you get a proprietary lease. That means, if there is any legal issue, the court will view and treat you as a tenant. In the same time, co-op is harder to exit. There are lots cons of buying this type of property—but there are pros, too, the price being the most important factor. So do talk to your real estate agent first before embarking on a full-scale co-op hunt.
Meanwhile, we at Agorafy browsed through the co-ops for sale listed on our platform and cherry picked the best ones. We also compared prices on these co-ops and similar-sized condos in the same areas. And, might we say, the differences in numbers are truly stunning. Here comes—Agorafy’s top five list of co-ops for sale.
Greenwich Village / 40 East 10th Street
2 BR | $2,550,000 | Same-size condo in this area: $3,675,000
Lower East Side / 475 FDR Drive
2 BR | $499,000 | Same-size condo in this area: $829,000
Murray Hill / 117 East 37th Street
Studio | $399,000 | Same-size condo in this area: $819,000
Chelsea / 4 West 21st Street
2 BR | $1,999,000 | Same-size condo in this area: $4,500,000
Harlem / 1901 Madison Avenue
2 BR | $350,000 | Same-size condo in this area: $899,000
AGORAFYDo you know how the so-called “affordable” real estate in New York is getting less affordable by the day whereas the city’s luxury market is softening? #luxury #condo https://goo.gl/Avx5AS
AGORAFYOne of the most iconic buildings in Boston has officially been sold and hopefully, the iconic station will be upgraded. #Boston #SouthStation https://goo.gl/rzWxXS
AGORAFYThis week, three of the apartments in the starchitect-designed West Chelsea condo have hit the rental market. #zahahadid #chelsea https://goo.gl/7Z7LBF