The Garcias' condo has a $16 tax bill. Yes, you read that right.

Previously, we introduced the Garcias—newlyweds confident about what matters most (being together and starting their life in one place) but undecided on the rest (children , pets , and what comes next). So far, they’ve seen just one property—a co-op in Midtown.

Here’s a link to the detailed methodology, and scroll to the bottom for a mini version.

Property #2: 40 West 116th Street #B302, New York, NY 10026

A 1,145 sq ft condo in South Harlem featuring:
2 bedrooms
2 baths
Oversized windows with abundant natural light
Open-concept living and dining area
Built-in wine fridge & recessed lighting
Semi-open kitchen with stainless steel appliances, granite counters & breakfast bar
Oversized pantry for bonus storage
Split-bedroom layout for privacy
Primary suite with walk-in closet and en-suite bath
Washer/dryer access on the same floor… but not in-unit

Located in The Kalahari—a full-service, LEED-certified building with:

24-hour doorman & concierge
Landscaped roof decks & courtyard garden
Fully equipped fitness center
Resident lounges & study rooms
Free Wi-Fi in common areas
Pet-friendly
Investor-friendly with no sublet restrictions
421-A tax abatement through 2034

Close to Marcus Garvey Park, Whole Foods, the 2/3 and B/C trains, and Harlem’s top cultural and culinary destinations.

Details on Property #2

Property Type: Condo
Location: Manhattan / Harlem

Commute Breakdown
Train Stop: Harlem–125th Street (Harlem Line, Stop #1)
Distance from Station: 0.6 miles | 12 min walk
Train Ride to GCT: 10 min
Total Monthly Commute Time: 16 hours
Monthly Commuter Cost: $155.00 (Train only)

Financial Summary

List Price: $999,000.00
Monthly Mortgage (P&I): $5,051.00
Common Charges: $1,188.00
Property Tax: $16
Utilities (Internet & Electric): $200.00
Total Monthly Cost: $6,663.00

Comments
A few things jump out, above and beyond what’s mentioned above:

First, there's a 421-A tax abatement through 2034. That’s why the property tax is only $16/month—amazing, especially for a first-time homeowner. But depending on how long the Garcias hold this unit, they could face a steep increase in taxes come 2034… or struggle to sell if the next buyer has a similar profile and budget.

That’s also why this unit costs the Garcias $2,647 less/month than the Midtown co-op. But! It comes with 10 more hours of monthly commuting on Metro-North. (Yes, they could—and probably would—take the subway, so we’ll set aside the “Faster and Cheaper v. Less Comfortable” debate. Metro-North is just the benchmark here.)

Also, it's three blocks from Levain Bakery (also on 116th Street). Did I mention that the Garcias love chocolate chip cookies?

Methodology
I identified properties priced at or below $1,000,000 near Harlem Line stops (plus one LES subway wild card) to compare commute time, costs, and ownership overhead. Assumptions include consistent walking pace, standard fares, and normalized monthly costs across property types.

Full methodology here.