For investing, I think a condo provides a more liquid asset. You can rent it while you wait to resell-- you may not be able to do that in a co-op. A co-op also has an underlying mortgage-- a condo does not. Depending on the terms of that underlying mortgage, it may weaken the value of the co-op. Just my opinion A.

Ther are a lot of coops that have more flexibility than the building you mention. From my experience buyers are always looking to have some flexibility on being able to rent out at some point.....Even if for a year or two within a certain period of time , which is not uncommon for coops to allow. My assumption would be that it would definitely reduce the pool of potential purchasers down the line when you want to sell and it is something to seriously consider against how much you love the property and it's other values.

I think it helps. I would prefer to live in an "owner occupied" building. Who else to take better if the unit.

Henry
917-497-0729
http://www.QueensLIRealtor.com

Not only does every board have their own set of rules, rules can end up changing. My feeling is that this will be your home...find something you like and will be happy in and take the plunge.