Hello Yong, it's Debbie Fugazy and I am the Director of Sales at the Knickerbocker Lofts so I can speak with tremendous knowledge concerning this property. I want to address first your question and concerns about the financials and common charges for the Knick. We have been an operating condominium for two years. There was no increase in common charges from year one to year two. If there is one for year three it would be modest - we anticipate no assessments at this time. The minutes of the board meetings would be available to you if you would like to peruse them. The sponsor performed substantial upgrades prior to converting ( $1 MM +). Electric was upgraded building wide, the parking loft was repaved, landscaping was done, below grade drainage added, gutters and leaders were repaired as needed as were many windows and a new security system was installed. The Knickerbocker is a true old industrial building converted to true lofts- complete with all the charm and warmth and character you would expect in a 100 year old + factory. Every loft is unique and special. There is a great deal of new construction out there but not many rustic true lofts . It is supply and demand. They are selling - we just accepted an offer yesterday on our original model, #12, and we will be closing soon on #28, #34. Contracts are out on #16. We just sold #6, #7 and #14. Did you notice that they sold for? very close to list price or well above!

As far as the market- read the articles all posted this week. It is looking up. I hope to see you at the open houses this weekend on Saturday and Sunday from 12:30- 3p.m. Debbie Fugazy, Associate Broker of Houlihan Lawrence in New Rochelle, 1329 A North Avenue; Director of Sales at the Knickerbocker Lofts 52 Webster Aenue New Rochelle, New York

Great question. I will review the financials and find out if they have project approvals with any particular lenders already in place. If you would like a detailed report and opinion please email me directly.

Deborah@DeborahCamacho.com

You always have the opportunity to review financial documents before you sign the purchase contract. Keep in mind that common charges, like taxes, DO increase over time. They just have to in order to keep up with inflation & maintaining the property.

When you read over the financial documents, determine if there are small yearly increases, or if they tend to wait for years & do an increase on an as needed basis.

It's similar to owning a single family home in that unexpected repairs/needs crop up from time to time. Make sure you don't over-extend yourself & can put some money aside each month to take care of those "surprise" expenses.

Have you talked with your Realtor about your concerns?