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Posted on 7/7/24 at 1:46 pm to hikingfan
If an apartment on Park ave is going for under 600k, you need to buy it immediately 
This post was edited on 7/7/24 at 1:51 pm
Posted on 7/7/24 at 1:52 pm to TheOcean
Yes, I work in the mortgage industry and high rises always have huge HOA and CoOps make them even higher. I rarely see CoOps outside of NY but it’s super common in the city
Posted on 7/7/24 at 1:53 pm to hikingfan
Condo HOA dues are generally calculated by SF of the unit.
$ 6,975 / month for a 1400 SF is $5.00/SF - - insane.
The highend condos in BR (Crescent, Perkins Rowe…) HOA dues are in the 50 cent/SF range or approx $700/month
$ 6,975 / month for a 1400 SF is $5.00/SF - - insane.
The highend condos in BR (Crescent, Perkins Rowe…) HOA dues are in the 50 cent/SF range or approx $700/month
Posted on 7/7/24 at 2:01 pm to hikingfan
More like 15mil
Posted on 7/7/24 at 2:03 pm to hikingfan
This is common. The HOA owns the property. The "buyer" is really just renting.
Posted on 7/7/24 at 2:06 pm to hikingfan
No idea why TF would anyone want to live somewhere like that.
Just to say you live in manhattan?
Just to say you live in manhattan?
Posted on 7/7/24 at 2:10 pm to hikingfan
That has to be a typo. A 1400 sq ft condo in Manhattan easily goes for $1.2 - $1.5 million.
Posted on 7/7/24 at 2:15 pm to Fat and Happy
quote:
No idea why TF would anyone want to live somewhere like that. Just to say you live in manhattan?
Probably because NYC has one of the most powerful economies in the world. If NYC got hit by a meteor, our country would collapse.
Posted on 7/7/24 at 2:15 pm to hikingfan
Here I am thinking the "typo" is that they added an extra zero
and all the comments say the "typo" is that they didn't add enough zero's
and all the comments say the "typo" is that they didn't add enough zero's
Posted on 7/7/24 at 2:17 pm to Supermoto Tiger
quote:
The highend condos in BR (Crescent, Perkins Rowe…) HOA dues are in the 50 cent/SF range or approx $700/month
Is Park Place a high-end condo?
This post was edited on 7/7/24 at 2:18 pm
Posted on 7/7/24 at 3:01 pm to hikingfan
It's a co-op. Pretty common up there. You don't own the actual property. You own stock in the company that owns it.
Posted on 7/7/24 at 3:15 pm to JasonDBlaha
lol at people thinking the 6k HOA is the shocking part/mistake and not the park place 2 bed condo listed at 595k”for sale”
This post was edited on 7/7/24 at 3:17 pm
Posted on 7/7/24 at 3:21 pm to hikingfan
I’ll sell them my downtown Auburn condo for $595,000. The HOA is only $162/month!
This post was edited on 7/7/24 at 3:25 pm
Posted on 7/7/24 at 3:23 pm to hikingfan
You'd have to pay me 595k/yr to live in NYC at this point in my life.
Posted on 7/7/24 at 3:47 pm to Locoguan0
It is not uncommon to see these low price/high maintenance cost for pied a terres in NYC. It’s likely 100% cash purchase as well and your finances as well as every aspect of your life will be evaluated to let you become an owner in the co-op. It’s less about being able to afford the unit than does the co-op want you in their club.
Many condos in established building still require 40% or 60% down payment. Financing/buying a home in NyC is different animal.
The only co-op in NOLA that I know of is the building on the west side of the Columns.
Many condos in established building still require 40% or 60% down payment. Financing/buying a home in NyC is different animal.
The only co-op in NOLA that I know of is the building on the west side of the Columns.
Posted on 7/7/24 at 3:58 pm to hikingfan
Aren't HOA fees not tax-deductible? Would suck to pay $7000/month and not be able to write it off.
Posted on 7/7/24 at 7:49 pm to TheLane2000
quote:
This is in the Beekman. The building is basically run like a hotel. Valet, concierge, housekeeping, gym, etc etc. That’s why the HOA is so high.
So what does the OT think annual gratuities for the staff?
Posted on 7/7/24 at 7:51 pm to hikingfan
quote:I’d buy that right now if it were real
Manhattan condo. For sale for $595,000
ETA:
quote:
It is not uncommon to see these low price/high maintenance cost for pied a terres in NYC. It’s likely 100% cash purchase as well and your finances as well as every aspect of your life will be evaluated to let you become an owner in the co-op. It’s less about being able to afford the unit than does the co-op want you in their club.
Jk I forgot how poor I am
This post was edited on 7/7/24 at 7:54 pm
Posted on 7/7/24 at 8:08 pm to hikingfan
HOA dues would be more than the mortgage payment. No way that’s right
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