Sponsor co-op of the week

A spacious one bedroom in the West Village for $1,595,000, no board approval required

The virtually staged photos show off the 28-foot long living room. 

Warburg Realty

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2019
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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 apartment, 61 Jane St., #10L, in the West Village, is on the market for $1,595,000, which is no small sum. Although the asking price is above the median sales price of $1,175,000 for similar-sized units in the area, the price likely reflects the fact that it has been newly remodeled, has an oversized living room, large bedroom, windowed kitchen, and shared roof deck.

The monthly maintenance is $1,819 but, be warned, there's a $1,085 assessment in place for the next few months as a result of upgrades to the elevator, lobby, and garage, as well as the installation of a new fire alarm system. Amenities in the building include a full-time doorman, shared laundry services, a bike room, and live-in super. 

The virtually staged photos show off the 28-foot long living room. There are new hardwood floors and through-wall Friedrich air conditioning units in the living room and bedroom.

The kitchen has new stainless steel appliances, Caesarstone countertops, ceramic floors, a subway tile backsplash, and glossy white wood cabinets. 

The bedroom has a wall of closets and faces northwest with views to the Hudson River and Empire State Building. The co-op is surrounded by low-rise buildings but views in NYC are never guaranteed and owners near this co-op are allowed to build higher if they choose to. This means that the unit’s waterfront view may be blocked or obstructed in the future.

The bathroom is just outside the bedroom but not an en suite. There are no pictures of the bath, although the listing says it has been renovated and includes a radiant-heated porcelain tiled floor, ceramic wall tiles, a new sink, vanity, toilet, and tub.

The area is well connected for public transportation and you can access the E, A, C, 2, 3, and 1 trains at 14th Street. The L train is a five-minute walk at 8th Avenue. 

The co-op has 19 stories and 261 units including studios, and one and two bedrooms. It was built in 1963 and converted into a co-op in 1987. Four one-bedroom units have been sold in the building this year and the last one to change hands this month went for $1,430,000, 4 percent below asking.