Wednesday, September 24, 2014

Roosevelt Island Real Estate Deathmatch, $1.3 Million Dollar Riverwalk Court Condo Or $1.275 Million Rivercross Coop - Which Would You Choose Asks Curbed?

New York City real estate web site Curbed tweeted yesterday:

and asks:
Imagine you have around $1,300,000 to spend on a place and you've narrowed it down to two apartments. How do you make up your mind? The answer is simple: you shove them into a metaphorical cage and let them battle it out until one emerges victorious. It's time for Real Estate Deathmatch....
The Roosevelt Island apartment comparison is between the $1.3 million asking Riverwalk Court Condo (Curbed Tweet picture on left)

Riverwalk Court Apartment Floorplan From Streeteasy

 and $1.275 Rivercross Coop (Curbed Tweet picture on right).

 Rivercross Apartment Floorplan From Streeteasy

According to Streeteasy, the Riverwalk Court condo has been on the market for 5 days. It was purchased in 2009 for $760,000.

According to Streeteasy, the Rivercross coop apartment has been on the market since May 2014, originally listed at $1.625 million

So, if you had $1.3 million, which Roosevelt Island apartment would you buy - Riverwalk or Rivercross?


APS said...

The Rivercross apt is poorly represented in the photos. Why put a pic of an outdated kitchen in and not the balcony? There's also WAY too much stuff in the apt to see the bones. They should switch brokers.

sam1602 said...

No brainer - Rivercross has over 300 sqft more, the building has a suberb pool and health club. If the Riverwalk unit has an eastern exposure at all it will soon be partially/fully blocked by the hideous crap the Kramer is putting up north of Firefighters field.

KTG said...

In general agree with you Rivercross, and if I had 500-600k in cash on hand would love to buy it. But for realities of Manhattan Market at +1 million price tag Rivercross has draw backs.

Remember Rivercross is a coop much less appealing to oversea investor crowd who are more frequently buying as a corporate entity to avoid state/federal income taxes for residents, it limits on use as a rental property and has no tax abatement.

sam1602 said...

Valid points all. I still think its a no-brainer for those planning to live on RI for an extended period. Rivercross is definitely not for non-resident investors.

Incidentally, do you think that a high percentage of Riverwalk condos are being purchased by overseas investors? I know that they are in Miami, but never thought that RI was much of a target for them.

KTG said...

On first point absolutely, and yes I know a few people who bought in Riverwalk who have told me that.