Home Buying in New York>Question Details

Henry, Home Buyer in Queens, NY

What are the disadvantages of co-ops built in 1950s in Queens?

Asked by Henry, Queens, NY Fri Mar 29, 2013

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It's really a matter a personal preferences; if the building is well maintained, no reason not to consider it...
1 vote Thank Flag Link Fri Mar 29, 2013
Hi Henry. Most Coops are older buildings. There are esentially no "new" Coops as these are former rental buildings that have converted to fractional ownership of shares and a proprietary lease. I suppose the thing to know is older buildings will have a fire escape while relatively "newer" Coops might be fireproof and require no fire escape. Basements may also be somewhat dreary.

I would tell you an older building can have a lot of architectural appeal with large room size, high ceiling height, eat-in Kitchens, arched doorways and crown mouldings as features. More recent buildings while having an updated feel may be smaller. If you've seen new Condo construction, you know current living spaces are much smaller.

Bottom line, it really depends on what you want and also what your budget will allow for. The major plus about Queens is, there are well sized Coops at very good prices. A well maintained building with close proximity to shopping and transportation are things to look for. If you want to discuss this further, please feel free to contact me directly. Thank you and good luck.
0 votes Thank Flag Link Fri Mar 29, 2013
Great question. And you have the answer. Make a list of all the features you are looking for in your perfect residential building. Then speak to the property manager of the building asking for the same things. You can then use the list to ask more questions of any real estate professional, but most importantly this manager, about overcoming anything that misses your list. It's a good idea to prioritise your features list first.

Good luck. Happy Spring!

Albert Capozzelli, Licensed Real Estate Salesperson
AC Lawrence, a Bellmarc Company
+1 (646) 258-1199
acapozzelli@aclawrence.com
0 votes Thank Flag Link Fri Mar 29, 2013
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