$242,000 for 242 W 112th St.
A spacious convertible studio, approx 500 sq ft.
RIDICULOUSLY LOW MAINTENANCE! Seriously, take a look around town, you will not find a maintenance fee this low that covers so MUCH!
$307 covers heat, water, taxes, cooking gas, building operations, building maintenance! All you pay is a small electric bill.
- Located two short blocks from Central Park and B/C, 2/3 trains.
- Beautiful Hardwood Floors
- High Ceilings
- Tiled Eat-In Kitchen
- Great Light from two Exposures - North & South
- Immaculate like new condition since building renovation in 2007
- Spacious enough to convert to a one bedroom
- Coin Washer/Dryer in Basement
Requirements to qualify for purchase:
- 10% minimum down payment
- Income not to exceed $96,240 for 1 person, $113,563 for 2 persons
- Solid Finances
- Owner Occupied with desire to stay long term
- Understand 30% flip tax on the sale of the unit
- Approval of Co-op Board
With 10% down payment:
$24,200 Down Payment
Monthly P&I to finance remaining $217,800 @ 4%
= $1039 (P&I) + $307 (maintenance) = $1346 TOTAL
With 20% down payment:
48,400 Down Payment
Monthly P&I to finance remaining $193,600 @ 4%
= $924 (P&I) + $307 (maintenance) = $1231 TOTAL
Did you know there are several different options for DOWN PAYMENT ASSISTANCE, loans up to $15,000 that are 100% forgivable and NO PAYMENTS.
Yes read more about under Planning to Buy a Co-op.
