NYC studio buyer looking at $2M apartments? Times are good.

Janet is right about looking at Condos. You are working with a price range which will give you many options, if you are in the Million range. This coop board being 50% financing will be tough, very tough. They allow pied a terres, but may not allow flexible subletting. They may for a year or two and that's it. I can call one of the brokers to get that information or the managing agent to be 100% sure.
Also when you will be looking for tenants they will have to go through the board and show the financials. Not many renters will want to bother.
Can I ask why you chose this building? Maybe there will be other better options in the area.


Kind Regards
~Alen

Which unit are you asking about - there are several for sale in the building? This building requires 50% down, which would take longer for qualified buyers to surface. If you think you may relocate in two years you are most likely better off with a condo. If you would like assistance in finding the right condo for you, please feel free to contact me to discuss your needs.

Jenet Levy
jlevy@cbpreviewsnyc.com