Buying in NYC
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Anonymous
| How much would I need to buy a co-op or condo in NYC, after the downpayment and associated buying costs are taken care of? What are the liquidity requirements they want to see? |
Anonymous
| It varies by building but the fed has said they won’t raise rates for two years and prices are about to correct meaningfully so wait for a year |
Anonymous
| I wanted to lift this back up. Did that end up happening ? Can anyone answer the first post ? |
Anonymous
| It’s impossible to answer this without more information. Where are you looking to buy? How many bedrooms/bathrooms? Do you need a place with lots of amenities (doorman, gym, etc)? |
Anonymous
2 bed room 1 or 1 bath. I dont need amenities. Open to neighborhoods honestly. Tyring to keep mortageg under 3k |
Anonymous
Manhattan or outer boroughs? |
Anonymous
Brooklyn/ Manhattan/ |
Anonymous
| Many of the buildings in NYC are coops not condos. Therefore you have to be approved by the coop board before you can buy. Some coop boards have very strict expectations about your net worth before they will approve. Not sure where condo/coop fees lie now (haven't looked in a long time) but 10 years ago for a doorman building monthly common charges were $1-2 per square foot per month. |
Anonymous
|
I live in the Bath Beach section of Brooklyn and currently new build 2 bedroom 2 bath condos are going for $600k to $1mil with no amenities in a 3+ family building.
https://www.zillow.com/brooklyn-new-york-ny-11214/brand-new-condo_att/ |