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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 one-bedroom, one-bath co-op, 200 Central Park South, #10P, can be delivered vacant or with a market-rate tenant in place, so it may appeal to both apartment seekers and investors.
It’s currently asking $988,000, which is considerably lower than the neighborhood’s median price for one-bedroom apartments, currently $1,500,000, according to StreetEasy. The monthly maintenance fee is $1,148. Buyers take note: You will be responsible for paying the transfer taxes.
In the photos, the bedroom and bathroom seem small with not much space around the furniture, but the seemingly spacious living room makes up for the lack of space. There are a lot of hotel-like amenities here, including a full-time doorman, concierge, manned elevators, live-in super, and valet who does laundry, dry cleaning, and housekeeping for an additional charge. There's also a gym, central laundry room, bike storage and a garage accessible from the basement, also for an additional charge.
The galley kitchen has an oversized sink, stainless steel appliances, and granite countertops.The bath was recently renovated and has a glass enclosed stall shower with a rain shower head.
The bedroom has large windows facing Central Park South.
The apartment is equipped with new A/C units and a Bosch washer/dryer.
The co-op building was built in 1963 and has 35 floors and 309 apartments.
Central Park is basically your backyard, just steps from the front door. You can walk to Columbus Circle within minutes and shop at Whole Foods and The Shops at Columbus Circle. Getting around the city is easy from this pad as 10 subway lines serve the area.