BoogieDowner Real Estate Watch: $10,000 Price Reduction for 1,400 sq. ft 3BR Co-o at 2199 Holland Ave

Here is one of listings that was just reduces by $10,000. The present asking on the 1,400 sq. ft. 3 bedroom co-op is only $179,900!!!! My contact information can be found below for any readers looking for a large loft style co-op in the Pelham Parkway Section of the Bronx. Interest rates are STILL in the mid 4% range and market prices are GREAT.

2199 Holland Ave, #2E
Loft style 3 Bedroom, 1 Bath
Maintenance: $944, (included heat, hot water, real estate taxes and gas)









Here is the MLS discription;
"1,400 sq. ft. sun drenched loft style 3 bedroom co-op with 10 large windows. Pet friendly, pre-war, elevator building. Walk to Pelham Parkway, Lydig Ave shopping district and the Botanical Gardens. Quick access to city via the 2 & 5 subway line. Express bus service and BX12 also accessible. Recently refinished original hardwood floors throughout. All new appliances, including Bosch dishwasher. 6 large closets. Live in super and porter. High owner occupancy and strong financials. Gas include!!!"

Mortgage calculation at full asking with 20% down:

Price: $179,900
20 % ( 35,980)
----------
Mortgage Amount $143,920

Monthly mortgage expense at a 4.5% rate for a 30 Year Fixed mortgage = $ 729
Monthly Maintenance (heat, hot water, real estate taxes and gas included $ 944
--------
Monthy expenses (mortgage and maintenance) $ 1,673


NYC Department of Housing Preservation & Development, standard rental
cost for a 3 bedroom unit including gas as of October 2010 = $1,829.00
(not adjusted for recent rent hike increase)

As you can see the Bronx makes sense due to purchasing opportunities costing less than average rents for similar rental units. For further information or to set up a showing contact please call or e-mail.

Gregory Tsougranis
Associate Broker
Century 21 Metro-Star
2017 Williamsbridge Road
Bronx, NY 10461
(845) 304-5745