Monday, January 26, 2009

Listing of the Day: Listing Stalker

91 Van Cortlandt Avenue, 1 Bedroom - $1100/month

So BoogieDowner has just frightened itself. We ran past an apartment that looked pretty familiar. It wasn't entirely clear why, and then it dawned on me - the weird cubical shelf things! BoogieDowner had profiled this exact unit back in September when it was for sale at $155,000. Back then they were still trying to call this Kingsbridge Heights, when it is clearly Van Cortlandt Village.

It was actually a pretty memorable posting because a lively debate erupted in the comment section about whether Riverdale residents use Riverdale, NY or Bronx, NY as their mailing address.

In any case what would have cost the buyer $1357/month with mortgage and maintenance (with a 20% down payment) now will cost the renter $1100/month. You would not get the tax benefit of writing off that mortgage interest and a portion of you maintenance. Nor would you get to build a little equity, but it's not a bad price for a decent apartment in a decent nabe.

Transportation is a little isolated with the 1 train across the Deegan at 238th or the 4 train at Mosholu Parkway and Jerome. Although, I will say it's nice to be close to Van Cortlandt Park.



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