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

FULL LISTING

~ErLu

Listing of the Day: Price Chop in Kingsbridge

180 Van Cortlandt Park South, #5c, 2 Bedrooms - $239,000

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. The chopping resumed in late August and after a few whacks with the old price ax the asking price is down to $239K. One nice improvement to the hood since the last time we posted about this is the opening of the Bronx Ale House. That's a pretty solid local if you ask me.

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.

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 (although you'd be crazy to pay the asking price for anything in this market). The maintenance isn't listed, so that is a kind of big X-factor. A super high maintenance could be a deal breaker; high maintenance usually means a poorly managed building and it's a monthly fee that in all honesty doesn't provide much (horribly regulated heat? a super?) and builds no equity.

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

FULL LISTING

~ErLu

Listing of the Day: Kingsbridge House

3442 Corlear Avenue, 3 Bedrooms, 1.5 Bathrooms - $525,000

This is a one family house in Kingsbridge, which is roughly on the outskirts of Riverdale. The house has a car-porty-garagey type thing, which is a real bonus for anyone who has ever had to supplicate themselves to the street parking gods of the Bronx.

The price has been chopped from a $595K listing price in January. The taxes, while not listed, have to be relatively low - at least in comparison to Long Island, New Jersey and Westchester. I'd certainly pull up that teal carpet, but that is a cosmetic and easy type of upgrade. The rest of the house looks pretty good. And how can you not like a little front porch action?

This house and hood are in walking distance to Van Cortlandt Park (most under-rated park in the City) and also to the much smaller, but nice, Ewen Park. You'd be close to Riverdale for some foodie options and also still be close to the Target in Marble Hill for shopping. Manhattan College is close by for lectures and some MAAC hoops (which can be pretty fun when the Jaspers are good). The transportation would be easy with the 1 train at 238th and Broadway.

FULL LISTING

~ErLu

Listing of the Day: Sensible Kingsbridge Co-op

3123 Bailey Avenue #3a, 1 Bedroom, -$130,000

This is a nice 700 square foot apartment wedged in the middle of Kingsbridge, Marble Hill , and Van Cortlandt Village. The kitchen and bathroom look like they have been recently remodeled. Overall the apartment looks to be in good shape, and at $130K and 700 square feet breaks down to a little over $185/square foot. Where else can you find this people?

It even looks like the building's lobby has just been remodeled and spruced up (see pics after the FULL LISTING jump). While that is certainly a sign that the building and the board are proud of the co-operative and do what it takes to keep it up, I'm pretty sure any significant remodeling costs lots of dough. I'm also pretty sure that extra dough would be passed on to the shareholders through maintenance increases and assessments. But to be honest, I'd rather see my maintenance dollars at work then to pay for nothing. No mention of what the monthly maintenance would be here.

Transportation would be good because you're right down the block (and across the Deegan) from the 1 train. You'd be close to the Target et al. in Marble Hill.

FULL LISTING

~ErLu

Listing of the Day: Kingsbridge Road Building

2693 Morris Avenue, 32 units, -$3,150,000

This is an entire building near Kingsbridge Road for less than $100K per unit. Most BoogieDowner readers are not in the market for such a building, but I like to bring you the crazy stuff on Fridays. Hence an entire building listing.

The building is pre-war (1922), which could be good for original old-school details, or bad because it is 87 years old. Who knows how many of these units are rented or what type of rent-control, rent stabilization or other types of occupancy issues are connected with this building, but the low price per unit makes it look somewhat attractive.

In terms of the hood, there is some shopping on Kingsbridge Road, and a 4 train stop at Jerome and Kingsbridge Road. You wouldn't be that far from Poe and St. James Parks. And if anything ever happens to the currently fallow Kingsbridge Armory, you'd be close to whatever is developed there (big box shopping? movie theater? normal grocery stores?, some utopian community paradise that won't impact the neighborhood negatively at all and will create well paying jobs?).

FULL LISTING

~ErLu