Would you like more information on these 1 of a kind Affordable Condos?
Building Information
Spectacular 2 Bedroom Condo building on beautiful block
in Longwood, Bronx. Each unit features Granite Countertops,
Stainless Steel Appliances, Cherry Cabinets, Hardwood Floors,
Ceiling Fans, Video Intercoms and more. Cheaper than renting!
Neighborhood Information
Physically situated at the borders of up and coming neighborhoods
Mott Haven, Melrose and Hunts Point, the building is on a great
block with Middle School 302 within a half block of the building,
and a park on each side of the building. P.S. 62 is within 2 blocks.
P.S. 161 and P.S. 130 are 3 blocks away. Recently, the South
Bronx has become a great alternative to Harlem properties that have
increased substantially in the past 5 years. Here’s what Barbara
Corcoran recently said on the internet about the South Bronx:
"The South Bronx is the last housing frontier close
to New York City. It lost 57 percent of its population in the 1970s;
now people are coming back. Most importantly, it's attracting
creative energy -- artists and musicians are moving there -- which
can really revitalize an area."
Transit Information
15 minutes to Manhattan. 6 blocks from 6 Train. 4 blocks to 2 and 5
trains. 4 blocks to BX17 and BX4 Bus. 6 blocks to BX19 bus.
SoBro Condo Video Walk Through
Sobro Condominium
Offering
Unit #
Sq Feet
Type
Price
Maintenance
Taxes
Status
1A
595
1 Bedroom
$293.65
$47.83
SOLD
1B
727
2 Bedroom
$318.12
$51.82
SOLD
2A
659
2 Bedroom
$293.65
$47.83
SOLD
2B
727
2 Bedroom
$318.12
$51.82
SOLD
3A
659
2 Bedroom
$293.65
$47.83
SOLD
3B
727
2 Bedroom
$318.12
$51.82
SOLD
4A
659
2 Bedroom
$293.65
$47.83
SOLD
4B
727
2 Bedroom
$318.12
$51.82
SOLD
Want more information?
Would you like to schedule a personalized showing?
Open House Schedule
Day
Time
None Scheduled
Call us for an appointment anytime!
Brokers Protected and Welcomed
Rent vs. Own
Comparison
2
Bedroom Rental vs. 2 Bedroom Condo
Rent
Own
$1400 - $1600 per month for 700 square foot apartment in
the Bronx w/ granite, hardwood, cherry cabinets + other cool
features that Sobro Condominium offers (click to
craigslist to see if you can find one).
Tax Deduction: $0
Appreciation: $0
Pride of Ownership: N/A
Mortgage Payment: $1092*
Common Charges: $293.65
Taxes: $47.83*
Monthly Out of Pocket: $1433.48
* Deductible
Federal Tax Bracket: 25%
State Tax Bracket: 6.85%
City Tax Bracket: 3.65%
Total Tax Bracket: 35.5%
Assumptions: First you will have to find an
apartment. Sobro Condominium is not for rent. You will have to post 1 or 2 months
security plus your first month's rent plus a broker's fee. Then you get to sit back
while your greedy landlord gets all the benefit of tax deductions.
The only thing that appreciates when you are a renter is your
rent. In 2006 rent guidelines allowed increases between 2.25% and
5.5% of total rent per year.
Assumptions: Purchase Price of $217,000
plus 6% sellers concession to help cover your closing costs. 5% Down
Payment ($11,501). Mortgage amount of $218,519 @ 6.0% 30 year fixed,
10 year interest only period. 2007 Federal Tax Bracket of 25%
includes single taxpayers earning between 31,850 and 77,100 and
married taxpayers earning between 63,700 and 128,500. Consult your tax advisor and
mortgage professional to verify these assumptions.
MONTHLY SAVINGS BY OWNING A 2 BEDROOM CONDO
AT SOBRO CONDOMINIUM: $370
THE COMPLETE OFFERING TERMS ARE IN AN OFFERING PLAN AVAILABLE FROM
SPONSOR. FILE NO. CP07-0184. Project: SoBro Condominium, Bronx, New York. Sponsor: Copo Management, LLC,
3361C East Tremont Avenue, Bronx, NY 10461.
