Welcome to It Happened One Weekend, our weekly roundup of The New York Times real estate section...
Every "The Hunt" column begins with the Hunters describing the apartment they want, and ends with them rationalizing whatever they came away with. This is The Hunt: Dreams vs. Reality
The Hunters: a couple looking to buy
Dream: Hamilton Heights
Reality: Hamilton Heights
Dream: 1BR, spacious, HDFC
Reality: 1BR, spacious, lots of windows
his weekend's Hunt is both interesting and refreshing: the Hunters are longtime New Yorkers looking to move from a tiny Gramercy Park studio into an affordable (and spacious) one-bedroom. However, with a fairly limited income, they decided to focus on Housing Development Fund Corporation co-ops. They started in Hamilton Heights, specifically looking for buildings with income caps of $80,000 or $90,000 for a household of two. They weren't happy with anything, but eventually, when their studio sold for a cool $680,000, they found a pretty nice one-bedroom in a building constructed in 1917 on Edgecombe Avenue. The apartment was spacious, with high ceilings and lots of windows, and it was asking $325,000. They negotiated the price down to $300,000 and paid all-cash, and though the place needs a bit of work, they seem pretty thrilled. [The Hunt/The Target Neighborhood: Hamilton Heights; photo via H.L.I.T./Curbed Photo Pool]