Residential deals

Mar.March 01, 2015 07:00 AM
206-front

206 Front Street, #3C

Vinegar Hill
$1.16 million
206 Front Street, #3C

Two-bedroom, two-bath, approximately 1,173-square-foot apartment in a 31-unit condominium with 421-a tax abatement until 2023. The unit has wide-plank maple floors, a kitchen with Nero Impala granite countertops and walnut cabinets, breakfast bar and washer/dryer unit. The master suite includes a deep soaking tub and a private balcony. Taxes: $59 per month (abated), 21 weeks on the market. (Broker: Caroline Bass, CitiHabitats, representing both parties.)

“Apartment 3C was a fantastic find for the buyer who could see beyond cluttered living areas, dark drapes and a very territorial pooch. Selling a tenant-occupied apartment always comes with its own set of challenges, but in this case the tenants’ dog created the biggest obstacle. Thankfully, his bark was worse than his bite, but many clients were scared to even enter the apartment due to the vicious sounds coming from inside. I dealt with this issue by bribing the pup with treats and stowing him on the balcony for a bit while potential buyers looked around. Luckily, a newly married couple who lived in the neighborhood recognized what a great deal this apartment was, and they weren’t scared off by the large barking dog. They wanted to be in Vinegar Hill and needed a two-bedroom, and the fact there was a washer and dryer in the apartment sealed the deal.”
Caroline Bass, CitiHabitats

136-E-56th12C

136 East 56th Street, #12C

Midtown East
$720,000
136 East 56th Street, #12C

One-bedroom, one-bathroom, 900-square-foot apartment in a co-op building. The renovated unit features an open kitchen with quartz countertops and stainless steel appliances. The apartment, built in 1959 and converted to a co-op in 1981, also features double-paned windows with city views and a full-time doorman. Maintenance: $1,756 per month. Asking price: $699,000; four weeks on the market. (Broker: Maria Appel, Bellmarc.)

“The apartment showed beautifully, and my client told me, “This has my name on it!” We made the offer that same afternoon at their first open house. My buyer was thrilled to find a newly renovated apartment in Midtown East, close to Grand Central, with washer/dryer hookups. She only wanted to look at buildings that either had a washer/dryer or allowed one to be put in the apartment. We found it the second time out. The apartment was so perfect for my buyer that she paid all cash and over asking to finalize the deal.”
Maria Appel, Bellmarc

Murray Hill
$3.375 million
140 East 37th Street

140-E-37

140 East 37th Street

Five-bedroom, four-and-a-half-bath, 5,342-square-foot, single-family townhouse. The five-story prewar residence, built in 1901, features a 900-square-foot basement and is buildable up to 6,230 square feet above ground. Zoning also permits the site be used for live/work, medical facilities, government offices, or nonprofits. The first floor includes an eat-in-kitchen, garden and outdoor space, terrace and cedar closets on the fourth floor and master bedroom with a 270-square-foot dressing area. Taxes: $39,264 per year. Asking price: $4.25 million. 48 weeks on the market. (Brokers: Chris Halliburton and Brandon Himmel, Halstead Property for the buyer; George van der Ploeg, Douglas Elliman for the seller.)

The buyer was a long-time client who liked the neighborhood and the ability to create a two-family. They had been looking for 12 months. I liked the architecture and neighborhood. We had to do a sit-down contract, which was signed five days from showing. A hard-money loan was eventually used for financing. A permanent loan will be placed once the conversion to two-family has been completed. Closing was the most difficult part about the deal.” Chris Halliburton, Halstead


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