Reply to Thoughts on this Co-op in Cleveland Park?

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[quote=Anonymous]The window unit AC and no in-unit laundry are a pass for me. The condo fees would not freak me out if I could look at the condo's financial docs (which I would obviously request) and understand where the money is going.

I'm not sure where the PP is getting that the fee only covers water. It will also cover building insurance, electric to common areas (which includes the laundry room), landscaping, and capital improvements. That fee is high but not astronomical, I'd want to know why it is what it is. I'm betting they hire a management company and that adds some money to the fee, but it also might reduce stress for owners if you can complain to the management company regarding issues and have them addressed, rather than internal management which in a small building can mean a lot of just doing it yourself.

I'd also request a 10 year accounting of special assessments. If the building has no special assessments, that might justify a higher fee.

A lot of condo buildings in NW have some challenging hurdles because the buildings are older and need more maintenance. I do think you could offer lower on this unit and might get a bite because of the higher fee.[/quote]

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