Reply to Buying a pied-a-terre in NYC…good or bad idea?

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Reply to "Buying a pied-a-terre in NYC…good or bad idea?"

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]My in-laws have one and they travel up from DC at least once a month and stay for a week or so at a time. It's worth it for them. They are extremely generous about letting family use the apartment (for which I am really grateful) and have a shared Google calendar to keep track of everyone's comings and goings. [/quote]
OP here. I also have the intention of being generous with letting family use the place but my understanding is that this would not be allowed in a coop, only condos? [/quote]

Correct. Coops want a community of neighbors, not various people whizzing in and out like it’s a hotel.[/quote]

The entire city is transient, you may not want to live there or enjoy it if people whizzing in and out bothers you. Not all coops are restrictive.  Many do allow pied-a-terre and subletting an don't necessarily police your guests. This is something to ask sellers agents about, they should know the rules of the building.  Prices often reflect how flexible or inflexible the place is, with the most inflexible places where this has to be your primary residence and no subletting is allowed being the cheapest. [/quote]

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