This building still has quite a few sponsor owned units in it. Which is not necessarily a problem, especially if you are planning on living there for a few years. Just be sure that your attorney looks at all the financials on the building very well. Also some Banks may pass on it, but ask the management company what Banks lend in the building.
And if you do buy, get on the Co-Op board and make sure the sponsor keeps selling their units as they come vacant and as more owners move in your investment goes up!
You are right, there is always a reason something seems cheaper. Knowledge makes for easier choices.
Kathryn Lilly, Broker
Realty on the Greene, LLC