It has exploded - anything below 14th Street is a homerun - less expensive in the East Village, than West Village. I have a 1BR for sale 212 East 13th St, 4D. Hope this answer somewhat what you're looking for.... more
I checked at www.BankForeclosuresSale.com which has a huge database of discounted properties that are currently available for sale. These include properties under foreclosure, REO, short sales and auctions. I was able to find 20 listings. You could stop by and check it out.... 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
In a market that is gaining, fringes are fine...in a market tthat is stagnant or in decline you want to be careful, if you plan to live there quite a while you should be OK.
I began in the depths of the market in 1991, I saw a number of buildings that had just been built or redeveloped on the fringes...they were like islands in the desert. You coul end up in a coop or condo that gets in serious financial trouble if owners cannot sell or rent and have to dump their units or be foreclosed upon. Even if the Coop/condo can ultimately get the money from a sale they may have to cover nonpaying owners in the interim. You can see assessments to cover ongoing expenses. (Bank gets its money first remember--and they only care about getting theirs as fast as possible)
BTW I lived on Ave A and East 10th back in 1991, Great Townhouse on the Park...a very "Rent Musical" time, yes I even frequented the Life Cafe! When it was not scary it was fun, but it was more scary than fun. I would be wary of Ave C & D. But I am older now!... more