521 West 47th St, PHC
1 Bed 1 Bath Co-op Hell’s Kitchen
Here's Why We Love This Home
1. Incredibly low carrying costs
In a year where the city increased taxes across the board and more and more buildings introduce costly amenities, there’s something to be said about a monthly cost around $1,000 for an apartment like this. Sure, you don’t have any building features but you’ll be able to rest easy knowing you’re not paying an outlandish amount to own your home.
2. Unique but sellable
I always advocate for buying a unique property as it will have scarcity value. This is anything but cookie cutter and so while it will not appeal to the masses, it will likely always attract emotional buyers who are looking for something different. Emotionally driven purchases often lead to a higher price. When you can find the same apartment on other floors, it often just becomes a numbers game.
3. Condo flexibility
Despite the fact that this apartment will likely draw the attention of a buyer who wants to call it home, having the condo component allows you to rent it out if need be. Combining that with the low carrying costs and you have yourself a decent investment if you needed it to be that. Always good to have options!