Woodstock Towers

320 East 42nd Street, 3204

Tudor City   |   Second Avenue & First Avenue

Co-op [Concierge]
$ 395,000
Rooms 4
Bedrooms 2
Bathrooms 2
Status Active
Maintenance [Monthly] $ 2,872
Financing Allowed 80%
Listing ID: 238299

Property Description

INVESTOR OPPORTUNITY in legendary Tudor City co-op 320 East 42nd Street: RENT-STABILIZED tenant in place, so this property is an INVESTOR PURCHASE ONLY SHOWING BY APPOINTMENT ONLY. 320 E. 42nd Street Apartment 3204 is a two bedroom/two bathroom view apartment conveyed with a rent-controlled tenant for investor purchase only, but should be considered for its rarity: on the top floor (only two apartments on this floor) of 320 E. 42nd Street Tudor City, Apartment 3204 has legendary views of the East River, UN and Midtown from north and east exposures. In addition to the protected views, the two bedroom/two bathroom coop unit has prewar details including hardwood floors, beamed ceilings and casement windows. Direct views to the iconic UN buildings, Chrysler Building, multiple water views of the East River and endless sunlight make 320 E. 42nd Street Apartment 3204 in Tudor City the ultimate investor purchase. Please contact exclusive broker for more information. Woodstock Towers is a landmark prewar coop building with excellent financials, central to all subways, Grand Central and Penn Station with easy access to every part of NYC Gardened backyard and laundry room on main floor lobby level. Fitness center and storage available for a small additional fee. Near 2 landmark parks both with playground. Pied a terre and co-purchasing allowed. Woodstock Towers is a full-service building with 24-hour staff, electronic mail check-in system, exclusive Garden, Fitness Center and Laundry Room. Bike Room and Storage available for a small fee. Pet friendly with Heat, Hot Water, and Electric included in maintenance. "Under the existing tax code, when real estate investors generate losses from gradually writing down the value of their properties, a process known as depreciation, they can use some of those losses to offset other taxes. The result is that people can enjoy big tax breaks stemming from only-on-paper losses, even if they enjoy big cash profits in the real world. But the use of those losses was limited by the 2017 tax-cut package. The losses could be used only to shelter the first $500,000 of a wedded coupleÂ’s nonbusiness income, such as capital gains from investments. Any leftover losses got rolled over to future years." -NY Times 3/26/2020
INVESTOR OPPORTUNITY in legendary Tudor City co-op 320 East 42nd Street: RENT-STABILIZED tenant in place, so this property is an INVESTOR PURCHASE ONLY SHOWING BY APPOINTMENT ONLY. 320 E. 42nd Street Apartment 3204 is a two bedroom/two bathroom view apartment conveyed with a rent-controlled tenant for investor purchase only, but should be considered for its rarity: on the top floor (only two apartments on this floor) of 320 E. 42nd Street Tudor City, Apartment 3204 has legendary views of the East River, UN and Midtown from north and east exposures. In addition to the protected views, the two bedroom/two bathroom coop unit has prewar details including hardwood floors, beamed ceilings and casement windows. Direct views to the iconic UN buildings, Chrysler Building, multiple water views of the East River and endless sunlight make 320 E. 42nd Street Apartment 3204 in Tudor City the ultimate investor purchase. Please contact exclusive broker for more information. Woodstock Towers is a landmark prewar coop building with excellent financials, central to all subways, Grand Central and Penn Station with easy access to every part of NYC Gardened backyard and laundry room on main floor lobby level. Fitness center and storage available for a small additional fee. Near 2 landmark parks both with playground. Pied a terre and co-purchasing allowed. Woodstock Towers is a full-service building with 24-hour staff, electronic mail check-in system, exclusive Garden, Fitness Center and Laundry Room. Bike Room and Storage available for a small fee. Pet friendly with Heat, Hot Water, and Electric included in maintenance. "Under the existing tax code, when real estate investors generate losses from gradually writing down the value of their properties, a process known as depreciation, they can use some of those losses to offset other taxes. The result is that people can enjoy big tax breaks stemming from only-on-paper losses, even if they enjoy big cash profits in the real world. But the use of those losses was limited by the 2017 tax-cut package. The losses could be used only to shelter the first $500,000 of a wedded coupleÂ’s nonbusiness income, such as capital gains from investments. Any leftover losses got rolled over to future years." -NY Times 3/26/2020

Listing Courtesy of The Corcoran Group

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Apartment Features

A/C [Window Units]
320 East 42nd Street Tudor City New York NY 10017

Building Details [320 East 42nd Street]

Ownership Co-op
Service Level Concierge
Access Elevator
Pet Policy Pets Allowed
Block/Lot 1334/41
Building Type High-Rise
Age Pre-War
Year Built 1929
Floors/Apts 32/454

Building Amenities

Bike Room
Fitness Facility
Garden
Laundry Rooms
Private Storage

Building Statistics

$ 905 APPSF

Active Sale Listings

$ 890 APPSF

Closed Sales Data [Last 12 Months]

Mortgage Calculator in [US Dollars]

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Loan Amount

Klara Madlin

License

Licensed Real Estate Broker


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All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.