A recent segment on CNBC (January 6 or 7th?) looked at price appreciation in NYC of co-ops vs. condos and it was not even remotely close. Condos were about ten-fold better in terms of the price increase rate of coops over the last several years, and the panel attributed it to the difficulty of getting them SOLD to new buyers. In other words, coop investments are not as liquid, therefore do not command the same attractiveness in the marketplace as condos.... more
The cost of going green is NOT returned when selling a property at this time. Yes, people like the idea of going green, but at this point there are not enough of them willing to pay for it. I think it does make it a bit easier and faster to sell a home, but so would a reduction in the price. I love the idea of using renewable resources and energy efficient construction, but I think the cost/return ratio needs get a bit closer to really make an impact.
Donald A Mituzas
Licensed Associate Broker
2008 Realtor of the Year
Director - Hudson Gateway Association of Realtors
Douglas Elliman Real Estate
It is one thing to prefer cash but quite another to only accept cash.
1. The building can not get financing
2. The seller priced the property too high and knows it won't appraise and knows a lender will not loan at the sale price.
As an all cash buyer, you will lose your deposit unless you have a financing contingency. It is in the seller's best interest. There are advantages to a buyer that can pay all cash but not when it is required unless it is being sold below market value.... more
Yes it is located in a very nice neighborhood in Hamilton Heights between two subway stations. As you can see there's gorgeous brownstones everywhere and it is close to great restaurants all over. This is a perfect place to be if you are attending school at City College because it is within walking distance to the campus.... more
I agree with all the answers, Pre-War is certainly solid constructions and with a good management firm the building will be properly run. The rooms are built larger, the walls and floors are solid, the lobby are usually grand adn wide. Hamiliton Heights was highly sought after in the turn of the century. I'm sure you have a gem, but if you need assistance feel free to contact me for all your real estate needs and best of luck.
Licensed Real Estate Salesperson
The median sales price for homes in Hamilton Heights, New York for Sep 09 to Nov 09 was $810,000 based on 2 sales. Compared to the same period one year ago, the median sales price increased 31.7%, or $195,000, and the number of sales decreased 33.3%. Average price per square foot for Hamilton Heights was $322, an increase of 20.6% compared to the same period last year.
There are currently 30 resale and new homes in New York on Trulia, including 3 open houses, as well as 7 homes in the pre-foreclosure, auction, or bank-owned stages of the foreclosure process. The average listing price for homes for sale in Hamilton Heights was $662,839 for the week ending Jan 20, which represents an increase of 11.4%, or $67,622, compared to the prior week.... more
Gail is correct your attorney will review it, read over the minutes and make changes when necessary. If you need a referral to an attorney feel free to contact me, (I donâ€™t receive compensation for referrals I), I want your deal to go smoothly. Good luck and have a great Labor Day weekend!!!... more