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Michael O, Other/Just Looking in 11360

Which building is in better financial standing, the Tower's @ Waters Edge or Bay Club? Should I buy now or wait another 6 months hoping prices?

Asked by Michael O, 11360 Mon Jan 24, 2011

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Hi Michael, Financial's are good on both...Towers @ Waters edge are coops, but the Bay Club are Condos..... Condos initially cost you more but the common charges are much lower + you have to pay your R E Taxes separately, Coop's ususally cheaper to purchase but maintenance is much higher but includes R E taxes (which is tax deductible on your income tax returns)....Interest rates are supposed to be climbing....even if there is a price adjustment- may cost you the same if rates go higher. Just food for thought...Terry K 718-614-3167 cell or email me Therese.Korahais@elliman.com when you're ready or just want information.
1 vote Thank Flag Link Mon Jan 24, 2011
In order to determine the current financial standings of both complexes, you really should have your attorney review the documents for both before making any decisions--therefore ask your agent and or management for copies. As for to buy or wait--if you need to buy, are ready to buy, have the finances, and have found a unit that you know suits your wants, needs, lifestyle, etc., no reason to wait--unfortunately none of us can answer with accuracy as to where the market will head tomorrow or down the road, as none of us really knows.
0 votes Thank Flag Link Mon Jan 24, 2011
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