In fact, three-bedroom apartments aren’t necessarily impossible to find in New York City, and they aren’t all priced into the millions. Here are three co-ops, all under $1.6 million, holding open houses this weekend.
575 Grand St., #E1405, Lower East Side
Three bedrooms/Two baths
Approximately 1,300 square feet
Common charges: $1,047 a month
Open House: Sunday, April 24, 1:30-2:30 p.m. by appointment
Lowdown: This is “the type of three bedroom you don’t outgrow,” according to Realty Collective broker Tina Fallon.
The buyers moved in from a loft, so “they wanted lots of built-in storage and lots of doors,” she said.
Potential buyers, she noted, “have the same priorities as the sellers: they’re looking for an apartment with light and air.”
Fallon said the apartment has “a great, rambling flow” with a long hallway that runs from the entryway to the back bedrooms. Big windows from the 14th floor look out toward the East River.
The current owners upgraded and enlarged the kitchen.
“When you stand at the sink you have sweeping views of Lower Manhattan,” said Fallon. “You can watch the sunset while you cook.”
The owners, who are very athletic, also redid the entryway closets to fit two bicycles and “every coat and piece of sports equipment possible,” said Fallon. “You’re so close to the East River State Park, you can just grab a soccer ball and go.”
The asking price was recently decreased by 5 percent “as an indication of the seller’s flexibility, and to refresh the listing,” she said.
Location: This co-op is located within the East River Co-ops, a 1950s development with more than 800 units.
“It’s a little bit of an adventure to get there,” said Fallon, noting that it’s located along the East River. The closest subway is the East Broadway F train, about a 10-minute walk away.
Why put it on your open house calendar? “The building is a surprise… people are amazed by the amount of sky we get out here,” Fallon said. She added, “if you haven’t visited the Lower East Side lately, you’ve got to see how beautifully refurbished the parks are.”
79 Hamilton Pl., #17, Hamilton Heights
Three Bedrooms/One bath
Approximately 800 square feet
Maintenance: $746 a month
Open House: Saturday, April 23, 12 to 2 p.m.
Lowdown: This three-bedroom unit is well priced because it’s in an income restricted building, according to broker Willie Kathryn Suggs.
The income cap for buyers in this HDFC co-op is $74,000 a year for one person and $110,000 for a family of four.
“The co-op wants middle-class buyers to stay in the neighborhood,” said Suggs.
Still, she said, the apartment is a good investment as the income cap will likely be raised in the next five years, and though there are income restrictions on buyers, as of now, there are no price caps.
“We’ve closed 10 units here in the past three years and have seen prices rise from $141,000 up to $499,000,” Suggs said.
This renovated unit is on the fifth floor of a walkup building. One of its nicest features, Suggs said, is a new, windowed kitchen with a built-in television and wine fridge.
“With a wine fridge and TV you never have to leave!” she said.
The apartment is particularly quiet because the walls are “one foot of brick,” according to Suggs, and there are only four units per floor. The windows look down onto the building’s courtyard.
It’s not a landscaped courtyard, but the co-op is considering renovating it. The board recently approved a roof deck addition, which will be added in the next two years.
“They’re even thinking about putting a hot tub up there,” Suggs said.
Location: The building is within walking distance of Hudson River Park and Riverbank State Park. Also, it’s a block away from the Hamilton Grange National Memorial, a popular spot since “everyone has Hamilton on the brain.” The closest subways are the 1 at 137th Street and the A/C at 145th Street.
Why put it on your open house calendar? “It’s the least expensive high-end apartment on the market uptown,” Suggs said.
7901 4th Ave., #B17, Bay Ridge
Three bedrooms/One bath
Approximately 1,250 square feet
Maintenance: $864 a month
Open House: Sunday, April 24, 1:30–2:30 p.m.
Lowdown: Corcoran broker Peter Bracichowicz was quick to point out that “an apartment like this is not available often in Brooklyn.”
On account of the low price for three bedrooms, there have been crowds at two previous open houses.
“You expect open houses like that in Park Slope,” he said. “It’s a high response for Bay Ridge.”
The sellers, who moved into the second floor apartment about four years ago, want to move quickly and priced it to sell, he noted.
The apartment was renovated right before they moved in. A third bedroom with a window was carved out of the formal dining room. Bracichowicz said it’s the ideal space for a study or a nursery.
The 130-unit co-op building is well maintained and boasts a recently-upgraded laundry room and garden that’s accessible from the lobby, Bracichowicz said.
“The management company is easy to work with, which is not the case at every building,” he said.
Location: “It’s halfway between Fifth Avenue and Third Avenue, which have all the restaurants, stores and bars,” said Bracichowicz. The R train at 77th Street is two blocks north.
Why put it on your open house calendar? “The layout is very convenient… every square foot is well laid out,” he said.