The great NFL quarterback, Joe Namath, forever known as Broadway Joe after leading the New York Jets to the Super Bowl, recently purchased a co-op in Manhattan for approximately $1 million. But the football legend doesn’t appear to be moving to the Big Apple from Florida, as he bought the place for someone else.
Curbed NY—a real estate website that updates readers on current listings and recent transactions in the area—reported that Namath bought the co-op for his daughter Jessica and her husband. It includes an outdoor area, an elevator, two bedrooms (and a potential for a third), lots of storage space, and an open kitchen that flows right into the dining room and living area.
Located on the Upper West Side, the pet-friendly co-op is not far from Riverside Park and the Hudson River Park promenade, making it a desirable location for home buyers, with no shortage of restaurants, shops and bars nearby.
The building itself was built more than a century ago, but was converted into individual apartments for buyers back in 1982.
A Big Price Tag
A million-dollar price tag like this might be easily affordable for some buyers, such as Joe Namath, but for others—with or without Super Bowl rings—buying a piece of real estate at this cost wouldn’t be within their range—at least not without a little help.
Before you start seriously looking at homes, you need to apply for a mortgage pre-approval to see what you can actually afford. Spending time looking at homes that are too expensive for you only makes your house-hunting a waste. Fortunately, several programs for home buyers are available to enable you to buy a home that you may have thought was out of reach.
Some people would need a mortgage that helps them make their down payment if they wanted to buy an expensive property in Manhattan like the one Namath recently purchased for his daughter and son-in-law. But that doesn’t mean it’s a deal breaker. A jumbo mortgage, for instance, is specifically intended for luxury homes, and buyers in New York can receive anywhere from $626,000 to $10 million to make their dream come true.
As long as you know what mortgages you are eligible for, who knows, maybe you’ll end up as a neighbor of Joe Namath’s family on the Upper West Side.
Photo Credit: Corcoran.com