Is this a condo or a coop?

Asked by triciayoon, New York, NY Sun Aug 5, 2012

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This question is about this property: http://www.trulia.com/property/3082551215--Carnegie-House-10…

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3
Jeannette Ba…, Agent, Brooklyn, NY
Sun Aug 5, 2012
Definitley a coop, but if you're interested in a great agent Adina would be the one. I work in brooklyn, you're in good hands with Adina. Wish you the best!
1 vote
Jenet Levy, Agent, New York, NY
Sun Aug 5, 2012
Hi, Triciayoon,

This property, which is the Carnegie House, located in Midtown West, is a co-op. The important thing to know about this building, however, is that it is on land lease. That is a very important fact, because it means that the building does not own the land it is on. The maintenance for all units in this building are extremely high, because you are paying not only for the usual things included in maintenance, but for the rent for the land that must be paid. The purchase prices are lower to offset this, but you are much better off with a building that is not on land lease for a variety of reasons.

I certainly hope that you are using a skilled, experienced agent to help you search for the right property, negotiate on your behalf, and take you through all the steps of buying. There are things that you, as a consumer, would not know on your own, such as what I've outlined regarding purchasing in this building. An experienced agent knows what to look for in a property to get you the most value, the best investment, the best fit for you and at the right price.

Best,
Jenet Levy
Halstead Property, LLC
jlevy@halstead.com
212 381-4268
http://jenetlevy.halstead.com for all NYC listings
0 votes
Adina Greenb…, , New York, NY
Sun Aug 5, 2012
It is a coop. If you click the link for more information you can see the details. It says maintenance $2852.

Property
Listing Provided Courtesy Of: Prudential Douglas Elliman Real Estate MLS Number: 1376738
Type: Cooperative

Additional Information
Concierge: Yes Doorman Fulltime: Yes
Doorman Parttime: No Film Location: No
Health Club: No Laundry Central: Yes
Laundry Each Floor: No Maintenance: $2,852
Private Outdoor: No
0 votes
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