Tuesday, September 9, 2008

Listing of the Day: 1 Bedroom Co-op in Almost Mott Haven

675 Walton Avenue - (apt 2L), 1 bedroom, $168,000

First of all, you know Mott Haven is hot when real estate agents are lying about apartments being there. The listing for this unit proclaims that it is in Mott Haven, but it is clearly 5 blocks to the north of 149th street, whichis the furthest northern border of Mott Haven.

In any case, this is still a nice apartment in an area that will get caught up in the whole Yankee Stadium development. It is literally across the street from Franz Sigel Park and a quick walk to the Stadium.

The apartment itself, which is a co-op, has a decent amenity that a lot of buildings in the South Bronx do not have: Part-time Doorman (Mon-Fri 3pm -11pm & holidays). Pretty serious business. Of course it has all the other normal stuff, like laundry, elevator and live in super. Maintenance and tax together are $522.

Transportation is nice with the 2,4 and 5 trains at 149th and the Concourse.

At $168K, this is the prime buy low property. Lots of upside with the new Stadium. And where do you think all those displaced Bushwickites and newly minted SVA grads are gonna go when Mott Haven has been gobbled up by hipsters and the prices are through the roof? You got it, a little further north. And we all know what demand does for prices....
Full Listing


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