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Real Estate
Reply to "Advice selling coop townhouse, River Park"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Americans, save nyc, just don’t get coops. I’ve given up trying to explain them. To a far lesser degree they don’t understand condos either. [/quote] We get them…we just don’t like them and have better ownership structure alternatives in condos townhomes and fee-simple rowhomes. Can you explain why it’s worth paying $36,000/ year in fees/taxes for this co-op?[/quote] Coops are actually a better set up. But people can’t get over you own shares instead of real property and the fear of board approval of you and rental restrictions. I owned a well run coop and it appreciated 300 percent during my ownership. We had an amazing board. When we were newly married we lived in a one bedroom and I recall people thought I was very rich as it was well maintained and beautiful. I even had a dentist and doctor in building. [/quote]
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