Waiting Out a Profit in Washington Heights


Could this be the cheapest three-bedroom in Manhattan? If not, then it's close, at $320,000. Sure, it's smallish (a little under 800 square feet, based on the floor plan) and it's in a prewar co-op at 478 West 158th Street that has a flip tax in place, but it's tempting. Especially considering it's been overhauled from floor to ceiling. (The hardwood's so new it's practically sparkling.) The building's pet-friendly, and there's no board approval, either. Common spaces are slated for renovations and living in a construction zone could easily turn into a colossal headache, but considering the upside — you wind up in a prettier place than the one you moved into — it may be worth the agita. Besides, after all that work, your property values will likely rise. That should ease the pain, too. —S. Jhoanna Robledo