Fees in NYC

Login to find out (August 31, 2005 at 9:15am)

FYI, I have a Manhattan real estate guide from dougles ellman for the last year...

The average drop in price for real estate, despite the boom is about 4%thus for 500k place that is about 20k at least....so I dont know if the drops described are just part of the norm anyway.

Login to find out (August 30, 2005 at 11:11pm)

katayon it's a personel decision based on your own needs and desires...i'd read the links that sam gave...

Login to find out (August 30, 2005 at 9:40am)

wow 200k lower. thats crazy though. i dont understand the reasoning though. is it just that a condo is more independently yours and a coop is just an obligation to the board.

as an investor, what is the best strategy, condo or coop?
which is the better real estate move, in two cases, if money is an issue, and if money was no object.

Login to find out (August 29, 2005 at 10:57pm)

Coop you can sell your 'shares" and profit/loose BUT the coop board has to approve who you sell to..depending on the board it could make it problematic.

I know that in manhattan condo vs coop coops are about 200k lower...I don't know if the average rise was equal for both...or slower for coops.

Login to find out (August 29, 2005 at 9:36am)

so if the property value of a coop goes up, and you decide to sell, do you get any profit from that?

actually, can you even sell your property or you are just ending your agreement?

Login to find out (August 28, 2005 at 2:02pm)

The main distinction between a housing co-op and other forms of homeownership is that in a housing co-op you don't directly own real estate. You are buying shares or a membership in a cooperative housing corporation. The corporation owns or leases all real estate. As part of your membership (being a shareholder) in the cooperative you have an exclusive right to live in a specific unit (this is established thorough a occupancy agreement or proprietary lease) for as long as you want, as long as you don't break any of the rules or regulations of the cooperative. As part of your membership, you also have a vote in the affairs of the corporation.

Login to find out (August 28, 2005 at 12:40pm)

I think Sam is talking about a chicken coop. Or coop d'etat? :)

Login to find out (August 27, 2005 at 2:21pm)

thanks for the info and helpful links.

i own a condo in northern virginia, but i have never heard of a coop. what is a coop?

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