An under-$400,000 co-op in one of the best neighborhoods for first-time buyers

By Lucy Cohen Blatter | April 10, 2017 - 2:59PM

Last week we brought you our picks for the top neighborhoods for first-time buyers. Topping that list: Forest Hills, Queens. The bustling area is affordable, offers several transportation options (subway and LIRR) and it also happens to have good pubilc schools. (We featured open houses in the neighborhoods this past weekend, too.) This week, we're spotlighting a co-op pick in that neighborhood that might be attractive to more budget-minded first-time buyers looking for condo-type elements.

This $399,000 one-bedroom, one-bathroom is in Lane Towers, a postwar cooperative building that's recently been renovated, with apartments that now boast high-end appliances, central heating and air conditioning and hickory wood plank flooring.

The kitchens feature stainless steel appliances by Bosch, Liebherr and KitchenAid, and custom bathrooms have vanities, quartz tops, and fixtures from high-end brands Kohler and Grohe. (All these extras may help explain why the apartment is over $100,000 more than the median price for a one-bedroom in the neighborhood.)

Building amenities include a full-time doorman, live-in superintendent, a parking garage for residents and visitors, a shared terrace and lounge, and laundry on every floor.

Also, the building is fairly centrally located, sitting less than 500 feet from the E, F, M, and R trains, and walking distance from Austin Street—the restaurant and shopping center of the area; it's close to the Long Island Rail Road, too.

A big plus: The fact that it's a sponsor unit means you'll probably get away with bypassing the co-op board interview.

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