A Tudor City two bedroom co-op for $975,000, no board approval required

By Donna M. Airoldi | August 10, 2018 - 10:00AM

Welcome to Brick Underground’s sponsor apartment pick of the week, where we feature a co-op for sale by the owner of the building. You do not need board approval to buy these apartments, they are often newly renovated, and they typically require a down payment of only 10 percent, versus the 20 to 25 percent that most co-ops demand. In exchange for the condo-like ease of acquisition, expect to pay a bit more than a regular co-op, but considerably less than a condo. For more information, check out "Everything you ever wanted to know about sponsor apartments but were afraid to ask."

If you’ve been dreaming of living in a renovated two bedroom in a prime Manhattan location for less than $1 million, this prewar co-op may be for you.

The median price for a two-bedroom apartment in Midtown East is $1,850,000, based on current listings on StreetEasy. But this apartment in Tudor City, 321 East 43rd St., #405, is going for $975,000. Just note that while you save on the price, the monthly maintenance of $1,737 is on the high side.

Still, the apartment has a large living and dining area, wide plank wood floors, 9-foot ceilings, and custom ceiling lighting. It’s been on the market for just over a week.

The bright kitchen has two windows and is large enough for a small table. It’s been updated with Bosch stainless steel appliances—including the gas cook top, dishwasher, microwave, and oven. There are also Caesarstone countertops and a good amount of custom cabinets. The downside is that according to the floorplan, the kitchen is located on the opposite end of the apartment from the living/dining room.

The listing claims the master bedroom can fit a king-sized bed, plus additional furniture. It’s on the corner so it gets two exposures. There also are two closets. The second bedroom is located between the master bedroom and the living room.

The windowed bathroom features a large shower, marble walls, and custom cabinetry.

Amenities include a full-time doorman, laundry room, and access to a fitness center at 5 Tudor City Place. Cats and dogs are allowed.

Tudor City is a 1927 apartment complex in Midtown East. The apartment is in a building named The Cloister and is located between Second Avenue and Tudor City Place, and there are plenty of shops and restaurants are nearby. Ralph Bunche Park is down the block, toward the nearby United Nations headquarters. Grand Central Terminal, with access to the 4, 5, 6, 7 trains, and shuttle to Times Square, as well as Metro North trains, is a little more than three blocks west.

There’s an open house scheduled for Sunday, August 12th, from 3-4 p.m.

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A sponsor co-op unit at 311 East 25th St #6A.

Co-ops Buying a co-op sponsor unit means you don't need board approval, but you'll likely pay a premium

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