Done Deals

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The New York Sun

EAST HARLEM


167 1/2 E. 115th St.
6-bedroom, 3-bathroom townhouse
Asking price: $625,000
Selling price: $575,000
Time on the market: 6 months


FIT FOR A ‘PIONEER’ With about 2,900 square feet, this four-story brownstone townhouse with a cellar has six bedrooms, three bathrooms and a huge eat-in kitchen. The building is currently arranged as a one-family residence, but can be converted to a triplex, with a one-bedroom, floor through apartment for a tenant. The seller is an investor who owns properties throughout Manhattan and the Bronx. The buyer, a young woman and her son, plan to keep the one-family arrangement, but will probably have friends move into the spare bedrooms


There was high interest among investors in the property, said Jeffrey Gardere of Dwelling Quest, who represented both the buyer and seller But, he said, after seeing the 12-foot wide building, they backed away when they couldn’t figure out how to divide the home into enough rental properties to make it worth the in vestment.


He said if it had been easier to divide, it could have sold for more than $700,000. “For months, we were going back and forth trying to get this thing done. It was a tough deal,” Mr Gardere said. “She was really, really lucky because she wants to live in it,” he said. The townhouse was built in the early 1900s and offers original details such as three marble fireplaces 12-foot ceilings, original moldings and ornate staircases. The buyer plans to strip the stairs, which have been painted white, to return them to the original wood. “It’s a very interesting neighborhood,” Mr. Gardere said. “At one time, it was considered a rough place to be. She’s a bit of a pioneer.”


UPPER WEST SIDE


303 W. 66 th St.
2-bedroom, 1-bathroom cooperative
Asking price: $625,000
Selling price: $590,000
Monthly cost: $677
Time on the market: 3 months


SERIOUS TLC This apartment is one of 420 units in the Lincoln Guild building, which was built in 1960 as middle-income housing. It was turned into a co-op shortly after, when the seller bought it.


The approximately 1,000-squarefoot apartment has never been upgraded. The buyers, a couple with a child, are moving from a smaller apartment in the building. They plan to do a gut renovation, and expect the new wiring, plumbing, and floors to cost at least $100,000.


While the apartment needs a serious dose of TLC, it does offer some nice perks, including a balcony with open views of Lincoln Center. The building offers a doorman and laundry room.


“This is probably the last two-bedroom in Manhattan that will ever sell under $600,000,” said Madeleine Dale of Halstead Property, who represented both parties in this transaction. “I’m still getting phone calls,” she said.


LENOX HILL


400 E. 70th St.
1-bedroom, 1-bathroom condominium
Asking price: $599,000
Selling price: $599,000
Monthly cost: $538
Time on the market: 10 weeks


CITY LIVING A New Jerseyan looking for a weekend getaway condo in the city got everything she asked for in this apartment. She was pleased with the price, size, and, most importantly, its location, close to the city’s cultural institutions. Madalyn Robbins of the Century 21 William B. May Company represented the buyer, a middle-age woman with grown children.


The buyer owns a farm in Spring Lake, N.J., where she has her primary residence. She was in the market for an apartment that she and her children could enjoy for long weekends in the city.


The apartment is in a high floor of the 42-story Kingsley Building, which was built in 1984. Amenities include a doorman, laundry rooms on every floor, and a roof deck. One of the main selling points was the apartment’s convenient access to transportation, Ms. Robbins said.


“It’s total city living in a fabulous building. Everything is right here at her fingertips.” The apartment features large windows, great floors, and a huge marble bathroom with a Jacuzzi tub and sauna shower.


“It was the third apartment we looked at, but I knew it was the one she would buy,” Ms. Robbins said. “She was just absolutely thrilled. It went very smoothly.”


Sonya Orley of Halstead represented the seller, a single man who moved downtown.


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