Wednesday, July 7, 2010

Listing of the Day: Price Chop(s) in Kingsbridge

180 Van Cortlandt Park South #5C - 2 bedroom, 1 bathroom, $199K

BoogieDowner has been semi-watching this unit for a while. We profiled it a few times when it was first listed at $265K back in May and then when it was chopped a week later down to $259K. Then a little more off the top brought it down to $254K. The chopping resumed in September and settled at $239K. This had been off my listings loop radar for a while, but it caught my eye again today with a chop all the way down to $199K. Not that anyone's counting, but that's a 25% cut in a little over a year - ouch! Maybe the $265K wasn't entirely realistic? Death of a thousand cuts is tough. If the chop had been a bit steeper, sooner, they might have sold this before the expiration of that federal tax credit. In any case, it seems like a decent deal at $199K.

This is a big unit (950 square feet) at the foot of one of the prettiest parks in the City. The building looks well kept - it even has one of those fancy Co-op names ("the Van Cort" - I guess brevity is their thing). This apartment is also right near Riverdale and all of its amenities. One nice local amenity is the opening of the Bronx Ale House. There's also some shopping on Broadway.

The kitchen and bathrooms look like they've been updated and the apartment doesn't appear to need that much work. All in all, this is a pretty solid apartment for a pretty decent (and falling!) price. When we were asking about the maintenance in a previous LOD profile of this unit, the listing agent actually left a few comments. Laura also clarified that the maintenance is $791/month, which is 40-50% tax deductible.

The transportation is very nice with the 1 train a block or so away




Anonymous said...


paperpest said...

If it doesn't sell at this price then the housing market is really in the tank.