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Flexible Board Sweetens Deal for $280K 2-Bedroom Co-op in Astoria

By DNAinfo Staff on August 13, 2012 2:43pm

21-37 33rd St., #3E

2-bedroom, 1-bathroom


Maintenance: $529

By Jessica Glazer

Special to DNAinfo.com New York

ASTORIA — With roughly 700 square feet of living space, the third floor two-bedroom apartment for sale at the Acropolis Gardens may have been smaller than some prospective buyers had hoped, but the appeal increased because of a motivated seller and a co-op board that makes it easy for buyers to rent out. 

"It's a good investment because you don't need to go through board approval to rent it or do renovations," said Dora Buzan, the Modern Spaces realtor showing unit 3E at 21-37 33rd St. on Sunday.

The owners moved to Brazil about a year ago and were renting the apartment to a group of Irish students who were spending the summer in the city.

Because the complex — built in 1923 with brick buildings facing leafy green courtyards — requires no board approval, the percentage of renter-tenants versus owner-tenants was unknown. The board is also fine with renters, so some home hunters were considering the unit as an investment property.

"It's definitely too small. We have a one-bedroom [in Astoria], and it's much bigger," said a musician with his newlywed wife.

She agreed, saying she would live in it as a renter not as a buyer until she found something better. 

"It's definitely rentable," she said. 

What the apartment lacked in space, it made up for in location and light, with windows in every room. 

"One of the things we are looking for is natural light and air circulation," said Andrew, one half of a young couple. "This is very quiet and very airy." 

Sure enough, all the windows were flung open and a breeze wafted through the apartment with little noise coming in from down below.

"The location is great," said Albert, a resident in the building since 1991, standing in the tree-lined courtyard with a cigarette. "It's 10 or 13 minutes to Manhattan." 

But he added: "They're a little slow to do repairs, and the security could be beefed up."

The gated complex has 24-hour security. 

Buzan recently sold an apartment with the exact same layout in this section of the 615-unit complex for $270,000.

That unit also started at $280,000, she said.