clock menu more-arrow no yes

Filed under:

The Catch: No Banks Means No Banks

New, 11 comments

What/Where: 2BR, 1BA co-op at 454 West 152nd Street in Hamilton Heights.
Looks Good, Right?: While two bedrooms crammed into a 750-square-foot space may feel a little cramped, you can't argue with the price: $150,000. Sure, there are income restrictions, but the $81,800 limit for a single person means we're not just talking welfare cases here. How can this apartment possibly still be on the market?
The Catch: Oh, right: "ALL CASH purchase from a checking account with no bank financing (no bank means no bank)." Definitely a warning sign, but hey, we're talking $200/sf here! Wait, what's this: "There is some risk in purchasing this home. The building owes $700,000 or more in debt and if the owners are forced to sell their homes you could lose $25,000 (for example)." That clicking sound is your financial planner hanging up on you.
· Listing: 454 West 152nd Street [Elliman]