Amityville Condos (Massapequa, North Amityville, Brunswick: section 8, for sale, apartment)
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I am looking into purchasing a condo in the Amityville area (Newpointe Estates on Lounden Ave). Beautiful condos, nice community, fair price. I don't have children, so the school district isn't an issue for me.
However, i do have an issue with the old Brunswick Hospital property for sale. If they are going to build more condos, or 55+ residences, fine. Section 8, or affordable housing, not fine. I know that the owners are in a lawsuit right now, so who knows when, if ever, it will be sold.
... Is this a risky investment not knowing what would be across the street? Is it worth it? Does anyone know of anything more that is going on w/ the hospital? Does anyone live in these condos, is the area safe?
I don't see anything really wrong with that area and those condos do appear to be quite nice. The location can also be considered a plus since you would be very close to the mall, 110, Sunrise Highway and the train station. Don't know what's in store for Brunswick but it seems like it has just been sitting there for years with nothing going on.
I have lived in Massapequa all my life. I know, I know, what does a girl from Massapequa want to move to Amityville for? I can't touch anything around here in my price range that is half way decent and not get killed with taxes. It might not be the nicest areas but it would be a starter home/ investment property.
Prices for that development start at $349,990. I don't consider it a bargain at all for an apartment that's not in a high end area. The taxes (including Village) come to $6,000 a year (and you can count on them RISING exponentially every year too). You probably couldn't even rent it for what the mortgage, taxes, and common charge fee ($286) comes to, so as an investment property it would not pay. Also, remember the problems with resale that co-ops and condos have: everyone (132 units in the case of this development) has something very similar, so the only thing you can compete on to get it sold is whoever is willing to sell it for the lowest price.
Prices for that development start at $349,990. I don't consider it a bargain at all for an apartment that's not in a high end area. The taxes (including Village) come to $6,000 a year (and you can count on them RISING exponentially every year too). You probably couldn't even rent it for what the mortgage, taxes, and common charge fee ($286) comes to, so as an investment property it would not pay. Also, remember the problems with resale that co-ops and condos have: everyone (132 units in the case of this development) has something very similar, so the only thing you can compete on to get it sold is whoever is willing to sell it for the lowest price.
Well considering the prices quoted above, you could probably buy a house in that range somewhere along the E. Massapequa/Amityville border. Just a thought.
Newpointe Estates isn't technically in North Amityville btw...(que Walter in 3,2,1,...)
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