A recent segment on CNBC (January 6 or 7th?) looked at price appreciation in NYC of co-ops vs. condos and it was not even remotely close. Condos were about ten-fold better in terms of the price increase rate of coops over the last several years, and the panel attributed it to the difficulty of getting them SOLD to new buyers. In other words, coop investments are not as liquid, therefore do not command the same attractiveness in the marketplace as condos.... more
It is one thing to prefer cash but quite another to only accept cash.
1. The building can not get financing
2. The seller priced the property too high and knows it won't appraise and knows a lender will not loan at the sale price.
As an all cash buyer, you will lose your deposit unless you have a financing contingency. It is in the seller's best interest. There are advantages to a buyer that can pay all cash but not when it is required unless it is being sold below market value.... more
I agree with all the answers, Pre-War is certainly solid constructions and with a good management firm the building will be properly run. The rooms are built larger, the walls and floors are solid, the lobby are usually grand adn wide. Hamiliton Heights was highly sought after in the turn of the century. I'm sure you have a gem, but if you need assistance feel free to contact me for all your real estate needs and best of luck.
Licensed Real Estate Salesperson
Gail is correct your attorney will review it, read over the minutes and make changes when necessary. If you need a referral to an attorney feel free to contact me, (I donâ€™t receive compensation for referrals I), I want your deal to go smoothly. Good luck and have a great Labor Day weekend!!!... more