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re: Manhattan condo. For sale for $595,000. Monthly HOA dues $6,975.

Posted on 7/7/24 at 8:09 pm to
Posted by BigAppleTiger
New York City
Member since Dec 2008
10950 posts
Posted on 7/7/24 at 8:09 pm to
quote:

So what does the OT think annual gratuities for the staff?


Usually a few hundred for the doorman. Less than a hundred is frowned upon. Not referencing condos/co-ops over 10 million.
Posted by SoDakHawk
South Dakota
Member since Jun 2014
10166 posts
Posted on 7/7/24 at 8:10 pm to
quote:

Probably because NYC has one of the most powerful economies in the world. If NYC got hit by a meteor, our country would collapse.


Doubtful. Those of us out in the country would be just fine. The economy would suffer for a while but we would all survive because we have the ability to grow our own food, hunt, fish, etc.
Posted by deltaland
Member since Mar 2011
100830 posts
Posted on 7/7/24 at 8:12 pm to
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.



For that price it better like the Continental in John Wick
Posted by baldona
Florida
Member since Feb 2016
23453 posts
Posted on 7/7/24 at 8:16 pm to
quote:

HOA dues would be more than the mortgage payment. No way that’s right


That’s not unheard of in high cost of living areas. The building tries to do absurd projects and that’s why the HOA dues go up.

Buildings like this often have laundry service, bellman, gyms, etc. It’s not just a home it’s a lifestyle.

Idk about this building fwiw
Posted by dovehunter
Baton Rouge
Member since Sep 2014
1748 posts
Posted on 7/7/24 at 8:24 pm to
Th incomes up there are reflective of the costs. People make 4-5X’s what we would consider good incomes. Unless you have 3-4 kids you don’t need a car. It’s a totally different lifestyle. That HOA fee includes a lot of services.

I’d rather have 100 acres and a tractor.
Posted by KirbySmartass
Member since Jul 2020
3024 posts
Posted on 7/7/24 at 9:05 pm to
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.


For nearly $84k a year, I want on call drugs and escorts too.
Posted by Tarps99
Lafourche Parish
Member since Apr 2017
11679 posts
Posted on 7/7/24 at 10:59 pm to
quote:

HOA dues $6,975.


If you can afford this, you just assume purchase Boysie’s place in the Four Seasons in NOLA.
Posted by PowerTool
The dark side of the road
Member since Dec 2009
22933 posts
Posted on 7/7/24 at 11:37 pm to
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.


Bro, I know all about New York co-ops; you think I ain't seen Only Murderers In the Building?

Posted by PowerTool
The dark side of the road
Member since Dec 2009
22933 posts
Posted on 7/7/24 at 11:38 pm to
quote:

For nearly $84k a year, I want on call drugs and escorts too.


Who has escorts sent to their own home? Is that you, Patrick Bateman?
Posted by sparkinator
Lake Claiborne
Member since Dec 2007
4980 posts
Posted on 7/8/24 at 12:17 am to
Cash price is doable. The HOA fee needs to be recoverable on the rental side. I’d like to have it, but have little desire to have to check on it periodically.
Posted by MSTiger33
Member since Oct 2007
21470 posts
Posted on 7/8/24 at 6:14 am to
quote:

Got to be a typo


Nope. It’s the way the building can exclude certain buyers. It depends on staff, location, and maintenance. My guess it’s a smaller building in a desirable neighborhood that is fully staffed

ETA: just saw the address. TBH, surprised it’s not more
This post was edited on 7/8/24 at 7:01 am
Posted by Motownsix
Boise
Member since Oct 2022
3153 posts
Posted on 7/8/24 at 7:04 am to
The HOA fee can include all insurances, utilities, parking, amenities, and security. It’s really not ridiculous. I feel like I get my dollars worth from the HOA’s I belong to in different states. There are times a temporary special assessment is put into place to pay for a specific project.
Posted by MSTiger33
Member since Oct 2007
21470 posts
Posted on 7/8/24 at 7:14 am to
I just looked it up. This is the Beekman. C'mon man. $6,975 a month is steal. Utilities are included. Biggest issue is that there is a land lease until 2046.

quote:

Designed by George F. Pelham in an Italian Renaissance style and completed in 1927, the Beekman is one of the most prestigious white glove cooperative apartments on Park Avenue. This fully staffed, high security building features twenty four hour doorman and concierge, as well as hotel style amenities including valet, five days per week maid service, and fitness center. Foreign buyers and pied-e-terre are welcome.
This post was edited on 7/8/24 at 7:17 am
Posted by Shiftyplus1
Regret nothing that made you smile
Member since Oct 2005
14299 posts
Posted on 7/8/24 at 7:19 am to
One way to ensure only a certain type moves in.
Posted by crazy4lsu
Member since May 2005
39298 posts
Posted on 7/8/24 at 7:24 am to
quote:

Doubtful. Those of us out in the country would be just fine. The economy would suffer for a while but we would all survive because we have the ability to grow our own food, hunt, fish, etc.


Read what he wrote again. He said the country, as in the US, would collapse. He didn't say anything about people surviving or not. Do you dudes ever read what you reply to?
Posted by BayouBengal
Member since Nov 2003
28288 posts
Posted on 7/8/24 at 7:26 am to
In Houston at 2016 Main, years ago I was shopping around and was curious as to why these condos were so cheap. Ignoring that it was across the street from the now closed but very notorious McDonalds and Greyhound station. It was under market for similar size and condition units. The condo fees were exorbitant. Likely because upkeep on an older building is very expensive and the HOA asking for special assessments is a pain.
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