408 W 25TH Street #4FW

Rare opportunity for an affordable apartment in Chelsea. Low price and low maintenance. IMPORTANT: 50% downpayment required. This is an HDFC co-op with restrictions for income, resale and subletting. Total household income cannot exceed $54,000 per year at the time of purchase. The co-op does not require considerable liquid assets after closing. Gifting is allowed. Must be your primary residence. Applicants cannot own other property. No investors or pieds a terre. Owner can sublet for two years after their first four years of ownership. They can then sublet for two years again after another four years. Short term sublets are not allowed. $10,000 flip tax for future resale. Note that similar market rate apartments sell for much more and require considerable liquid assets after closing. Decorative fireplace. Exposed brick. High ceilings. Eat in kitchen with window. Nice renovated bathroom with window. Washer/dryer allowed in the apartment. Good move in condition. Fourth floor of a walk-up (three flights up). Nice open street views facing uptown so great morning light. This charming building has undergone improvements (including new front entrance, intercom, staircase and hallways) with more planned (including the facade, a new laundry room, new mailboxes and possible backyard). Pet friendly. The wonderful Chelsea Recreation Center is on the block (moderately priced gym, swimming pool and various other activities). A supermarket, pharmacy, post office and numerous other conveniences are also right on your doorstep. Trader Joe's, Whole Foods, Fairway and Chelsea Market are all within walking distance. Steps to C and E subway, The Highline, Hudson River Park, Chelsea Piers sports complex, the thriving art gallery scene, restaurants and nightlife.