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$299K 2BR, 2BA in the East 60s Too Good to Be True?

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Welcome back to The Six Digit Club, in which we take a look at a newish-to-market listing priced under $1 million, because nice things sometimes come in small packages. Have a nomination? Send it to the tipline.

Price: $299,000
Address: 301 East 63rd St. #4AL
Size: 2BR, 2BA, 930 sq. ft.
Common Charges: Unclear

Is something afoot here? A 2BR, 2BA in this part of town would normally go for at least double the ask of this co-op, which was, in fact, listed for $749,000 in 2007. Now it's back and asking only $299,000. It's not small at 930 square feet. The kitchen appears to be a kitchen. The master bedroom appears to be spacious. Sure, the second bedroom is barely big enough for a bed, but it could probably fit a desk and a desk chair easily enough. So what gives? The brokerbabble, rather than providing clues, is equal parts mystifying and captivating. "Assessment Of $1740.00 per month Is In Essence For Your Share In The Mortgage Of The Land." Well, yeah, of course. Wait, what?

· Listing: 301 East 63rd Street #4AL [KWNYC]
· Six Digit Club archives [Curbed]