The Hunt
Heading Uptown With $250,000 and Some Hope. Could They Afford a Co-op?
A couple searched in East Harlem and the Bronx for a modest new apartment that would allow them to entertain friends and commute easily to Midtown. Here’s what they found.
At their 2017 wedding, Dante Olivia Smith and John Estep made two unconventional vows: Their home would always be open to their community, and Ms. Smith would get Mr. Estep a dog.
They didn’t know how long it would take to make those vows a reality.
Ms. Smith, a television lighting designer, and Mr. Estep, a theater props manager, were renting a three-bedroom townhouse with a terrace in Borough Park, Brooklyn. Dogs weren’t allowed. But their rent, at $1,850 a month, was well below market rate, and Ms. Smith, 40, and Mr. Estep, 43, couldn’t bring themselves to leave.
The pandemic only tightened their finances, but after a year of isolation, they were eager to move closer to friends. The time had come to fulfill those wedding vows. “We needed somewhere that felt like home,” Mr. Estep said.
They also needed something priced well below the average cost of an apartment in New York City, which was hovering around $650,000. The couple capped their budget at $250,000 and hoped to find something with a nice kitchen — they love to cook and entertain — as well as in-building laundry and an elevator, if the apartment was on a higher floor. And they didn’t want to have to make any repairs.
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“It couldn’t be a bunch of compartmentalized rooms,” Mr. Estep said. “It had to be at least a little bit open concept.”
As for location, their main concern was commuting to Midtown Manhattan. “We weren’t tied to any specific neighborhood,” Ms. Smith said, “but we asked our Realtor to keep our commute the same length.”
Allison Deutsch, an agent with Oxford Property Group who assisted with their search, was confident they could find what they wanted.
“Artists sometimes don’t think they can possibly buy in New York City because of the prices they see,” Ms. Deutsch said. “But if you look, there are neighborhoods that have easy commutes and are good choices.”
During their yearlong search, the couple focused on Harlem and Kingsbridge, in the Bronx, where several friends had moved recently.
Among the properties they considered:
No. 1
A Balcony in Kingsbridge
This one-bedroom with a balcony and a renovated pass-through kitchen was on the seventh floor of a brick co-op building in Kingsbridge, across the street from friends. It was a short walk from the 1 train, which meant a direct commute into the theater district in Manhattan. Dogs were allowed, and the unit had new hardwood floors. But the bathroom needed updates, and the layout was a bit awkward. The asking price was $225,000, with a monthly homeowner fee of about $675.
No. 2
Two-Bedroom in East Harlem
The couple were surprised to find an apartment in Manhattan for $269,000 — especially one with two proper bedrooms. The prewar co-op building allowed dogs and had beautifully manicured grounds, and the location would mean a much shorter commute. The third-floor unit had five closets, but it didn’t get great light, and having two bedrooms meant that the common space was fairly small for entertaining. The monthly homeowner fee was $900.
No. 3
Water View in Kingsbridge
Mr. Estep and Ms. Smith hadn’t considered a nice view among their must-haves, but they were stunned by the view of the Jerome Park Reservoir from this sixth-floor one-bedroom in Kingsbridge. The apartment had a big living room and a windowed flex room that could be an office or sleeping area, and it was near friends. On the other hand, dogs weren’t allowed, the kitchen was in bad shape, and the carpeting was terrible. But the price was right, at $210,000, with monthly homeowner fees of about $800.
Find out what happened next by answering these two questions:
Which Would You Choose?
A Balcony in Kingsbridge
Two-Bedroom in East Harlem
Water View in Kingsbridge
Which Did They Buy?
A Balcony in Kingsbridge
Two-Bedroom in East Harlem
Water View in Kingsbridge