Hello Gloria, are you looking to buy as an investment or live-in? That is huge because it can narrow the search down significantly. I have some questions to better answer yours. Email me at firstname.lastname@example.org.
It may be by mistake or it may be a marketing trick by a listing agent, since condos are more popular and their price is in general 35-40% higher.
To make sure the apartment is a condo, you should see 2 separate monthly charges there in the listing, common charges and real estate tax. Coops only have maintenance charge.
You can also ask your agent to verify all the info. This is what we are for. Would be glad to help you in your search.
646 593 7297
According to the 1Q2013 report by Real Estate Board of New York, average condominium price in East Village was $1,713/ PSF in 1Q13 and $1,730/ PSF in 4Q12.
Average Coop prices in East Village were $763/PSF in 1Q13 and $869/PSF in 4Q12.
Contact me if you would like a full report or need any help finding the right property in the East Village or any other area of Manhattan.
646 593 7207
The IRS lets you write off the property taxes on your second home. However, the way that you use your second home will determine how you write it off. If if is truly a personal residence, which means that you rent it out fewer than 14 days a year, you can write it off with the property taxes on your first house. If it is rented out more than 14 days a year, you must allocate the deduction by the percentage of personal use and rental use.... more
A typical coop that I am currently working with requires a minimum of $300,000 in general liability coverage and requires that the coop corporation is named as an "additional insured." Each coop will have varying requirements but I think if you start with this, add enough coverage for the replacement of your own personal belongings, maintain enough flood insurance to satisfy your mortgage bank, and add coverage for any improvements you make to your apartment such as new kitchen cabinets, new floors etc, you should be in good shape. Check your coop's requirements first. Many don't specify but those that do, are firm about it.... more