We are selling a coop, very reasonably priced in Forest Hills. Email me at hecledesma@yahoo.ca!

Wed Jul 2 2008, 18:52

You should choose a coop which has established itself and financials are in order. I personally was looking for a condo over a coop however I was unable to find one. My husband and I bought a coop in Floral Park, Queens and have been very happy here. We are actually selling now; if you are interested take a look http://www.forsalebyowner.com/listing/SRJ1K# either was good luck!

Sun Jun 8 2008, 12:48

I don’t know what you consider reasonable but we own a condo in Queens. (Kew Gardens Hills). 2 bedroom, 2 bath, parking, doorman, pool, gym that’s around $400,000 -$430,000. There are new buildings that cost a lot more but frankly I think some of these places are getting carried away with the amenities and then charging a fortune for a modest sized apartment. (Seriously, I love having a 24 hr doorman, but I don’t really need a 24 hr in-house massage therapist.)
When we bought in 1998, we definitely preferred a condo to a co-op and there were even fewer condos available back then. There are a lot more new condo buildings but I've been checking them out and honestly I've been kind of shocked at the common charges. My husband saw several that were over $1100 per month and the property taxes are separate. (Our monthly charge is $497/mo and $2200/yr in tax) When we were buying back then, the lower charges was one of the reasons why we preferred condos to co-ops. But of course at least with a co-op the maintenance charges include taxes.
The other reason was that as others have said, co-op boards can be hard to deal with and with a condo you don't have to apply, get references, sit for interviews etc. and then wait to see if the board will accept you. Condos do require board approval but it's far less strict and at ours (maybe all?) if they turn the buyer down they have to buy the condo at the negotiated price to compensate the homeowner for ruining their sale.

Wed May 28 2008, 15:47

you should look at coops on case by case basis
#1 do they let you sublet. most are changing their rules now with the condo competition
#2 little to no flip tax. There are some with 5%, but if its more than that I wouldnt buy
#3 20% or less down. This depends on you, most are 20% but some have come down to 15% in Briarwood.

Best of Luck!

Wed May 21 2008, 14:33

Hi Wayne,

Co-ops are more reasonably priced for a reason. You get more space with more restrictions on what you can do with and to the property.
Condos are more expensive for two reasons, first, many are new construction in Queens or conversions.
Secondly, you get less restrictions and usually less space for the dollar per square foot that you pay.

If you are thinnking long term investment for primary residence, go co-op.
If you are thinking short term investment for secondary home or subletting, think condo.

Your budget will ulitmatley affect this directly.
Hope that helps!

Mon May 19 2008, 18:22

Wayne,

I specialize in condos in Queens. Call me.

Tue May 13 2008, 10:56

Hello,

My name is Michael Marsilio with Century 21 Benjamin. I specialize in residential and investment properties in the queens area. Yes, there are many Condo's and Co-op's available in the queens area. Where exactly are you considering to look??? As far as the prices go generally Co-ops are priced lower than Condos but there are considerable differences with the two. As far as the types go that really depends on your personal preference, do you like garden style or do you like the mid or high rise style??? When purchasing a co-op your main concern should be financials of the development as you are purchasing shares of the cooperative. You should have your attorney review them prior to signing contracts. This will determine if the co-op is a good investment or not!!! If you like you may contact me and I would be more than happy to answer any additional questions you might have. I can be reached at 917-681-5475 or e-mail me at michael.marsilio@century21.com

Mon May 12 2008, 12:24

Hi Wayne,

Trulia currently displays 397 condos for sale in Queens. I recommend that you use our filters on the left side of the page to refine the list to what you are looking for specifically.

Best Wishes,

Emily Gibson
Customer Service Representative

Mon Nov 12 2007, 14:52

Wayne,

I've done a preliminary search on one database. There are approximately 379 active listings for condos in Queens. The search parameters began from $100,000 - $5 million. The prices and neighborhoods vary, of course. Unless you have a U.S. credit history or a U.S. guarantor, I recommend purchasing a condo, rather than a co-op. Many co-ops require in-person interviews as well as having strict financing and financial requirements. Many also do not allow pied-de-terres or investors.

Feel free to contact me with any further questions or if you're interviewing Realtors to represent you.

Sun Nov 11 2007, 12:36