I have a question, Why are so many apartments in Southridge/ Northridge coops for sale. I heard the board is very strict.

Asked by Ana Cardenas, Jackson Heights, NY Fri Jul 27, 2012

I am looking into those apartments since they are so affordable. Any one could share their experience. Thanks,

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Tania Flavia, Agent, Fresh Meadows, NY
Wed Oct 3, 2012
Yes, Southridge and Northridge board application are complex and the board examine every detail regarding financing as well as previous household lifestyle.

The financial qualification approximately range from 8 times the maintenance (for one person) and 9 x maintenance for 2 people, plus 1 year monthly mortgage (See Commitment letter) in most cases. If cash, or fixed income they also accept. In most buildings they have different qualification standards.

Those buildings are elite in the area since they cover all expenses and utilities with the exception of AC, parking and intercom (if it applies). Very conformable area, near shops, schools and transportation. Very attractive area for NYC buyers.

If you wish to get more information, please contact me. I'm an agent in the area and know how these building work. I have a listing in Southridge. 2 Bedroom.

Please email me if you are not working with any agents at the moment. I will be glad to help you.
Hope to hear from you soon.
1 vote
How hard would it be to rent the apartment after purchasing one?
Flag Wed Apr 30, 2014
Kris, Home Buyer, Jersey City, NJ
Mon Oct 6, 2014
You have to understand how STABLE these Co-Ops are!! Southbridge, for example, has NO MORTGAGE underlying the COOP, I was told by a board member! A dream situation of financial stability!
0 votes
Pedro Cabral…, Home Buyer, Jackson Heights, Queens, NY
Tue Apr 23, 2013
I live in northridge the board used to be strict but now younger people are filling the spots and are more understandable. Been here for 8 years and its been nice
0 votes
Jeff7c, Home Buyer, Irvington, NJ
Sat Apr 13, 2013
well my sister and her husband have a 105k a year they been working for this company for 12 years they have clean record and exelent credit they were rejected is not just about to buy think about when you decide to sale is going to take a long time because is not easy for approval wish you good luck
0 votes
Richard Morr…, , Vancouver, WA
Thu Mar 28, 2013
Be very cautious when buying up in a very strict hoa board. There are many issues that can arise...
0 votes
Chung-deh Ti…, Home Seller, Queens, NY
Mon Jan 28, 2013
Hello Ana. My name is Chung deh Tien. I am selling my 1 bed room in southridge co-op section 3 right now just to get in on the buy for a 2 bedroom in the same section. my wife and i pay off the mortgage on our co-op in 6 years and now save enough to buy a 2 bedroom. its a $55,000 basic income requirement and background check via criminal and financial, letter of proof of employment, detail statements on income statements,banks and personal investment dating back for 3 years. but the people who live in these co-op all have gone through this to live here, my wife and i think this is a great place for our family.
if you are interested in my 1 bedroom. email me at chungdehtien@yahoo.com
0 votes
Caroline Qui…, Agent, Jackson Heights, NY
Tue Oct 9, 2012
Hi Ana
Yes Southridge/ Northridge are strict but that keeps the Coops in really good condition. You just need a certain income depending on Coop and a steady job. Please call me at 917-696-1839 I can show you a great 2 bedroom 1 1/2 baths that are great for kids. Or even a 3 bedroom ! Regards, Caroline Quintana.
0 votes
I guess you did not recognize me..... LOL... , I'll give you a hint, 5th Community :).
Flag Tue Oct 9, 2012
Billynorthea…, Home Buyer, Queens, NY
Sat Sep 8, 2012
i live in Southridge 4.
these apartments are apart of a very stable cooperative community.
there are so many for sale because this is a naturally occuring retirement community.
many people, live very long lives ( my neighbor is 103) and then die.
I have lived here for only a few years and several of my older neighbors have since died.
make no mistake, this is no frills living. no grand lobby or beautiful details you will find at the western end of jackson heights. but what you will find is one of the last true native ny/ assimilated immigrant working class communities in NYC. Downpayments are high. some boards are more intrusive than others. no subletting. and of course there is the flip tax which turns many people off. i dont care b/c i plan on dying here too and in exchange for the fip tax -- i pay no, yes I said NO, utilities.
0 votes
Therese L Ko…, Agent, Bayside NY 11361, NY
Sat Jul 28, 2012
Hi Ana, Just closed on a 2 br 1.5 ba in Southridge Section 2- no problems...as long as you qualify you are a shoo- in. If you are looking for a 1 bedroom- I have totally gut renovated gorgeous apartment facing front of the building, recessed lighting, granite counter and SS appliances, new tiled bath, hardwd flrs. Income req cash $53K 2 people, financing $60K. Great area 4 blocks to #7 train, 1 blk to Northern Blvd for buses. It iis located at 33-45 90th St, if you would like more info Terry K 718-614-3167 or email TKorahais@elliman.com
0 votes
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