Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
I am looking to move back to NY from VA originally from NY. I was thinking about Co-op city? How do I apply is it income based are your really buying a share. Any info would be greatly appreciated!
I am looking to move back to NY from VA originally from NY. I was thinking about Co-op city? How do I apply is it income based are your really buying a share. Any info would be greatly appreciated!
Do a search either on this site or on google for a recent NY Times article about co-op city. Are you familiar with it (have you been there) or were you just thinking it sounds good?
Co-Op City is limited equity, and as such, it does have income restrictions based upon unit size. There are specific minimums and maximums under such programs, as well as other qualifications that are required for application. Co-Op city is the largest co-operative development in the world, I believe, and it has had its share of maintenance issues over the years.
I agree with Henna, that Parkchester is a worthy competitor, and Parkchester's condominiums are pre-war, and are in a more convenient location for a Manhattan commute. They are condominiums, however, so you do not have income restrictions, and some are actually well-priced, for sales and rentals. Much has been changed in the years since the Helmsley organization owned the complex, after the original rental period under Metropolitan Life Insurance, and under the Helmsley period is when the conversions started. Since that time, deferred maintenance issues have been taken care of and the complex has been brought up-to-date in terms of service issues. There are two condo boards in the complex, with the south board being the better side of the neighborhood right now, not to mention the new shops and services opening in the retail corridor of the complex.
Edit: It has been reported recently that maintenance has been a priority recently in Co-Op City, but they have had issues from sinking parking garages due to bad foundations to construction issues from the original development period. And, this has taken a while to be sorted out. I believe that it's in process, but I'd check with Riverbay Management for the state of affairs before I'd commit to the place.
I am a real estate agent and by law we cannot disclose whether or not a neighborhood is "safe". The best way is to go to the neighborhood during the day and especially at night. See how it feels. Look for things that you know would make you feel uncomfortable walking home at night. Also, go to the local precinct and tell them you are thinking of moving to the neighborhood and ask them to see their crime reports, these are public information and you can check for recent activity and arrests. Hope this helps.
I am a real estate agent and by law we cannot disclose whether or not a neighborhood is "safe". Hope this helps.
I guess most of NYC's real estate agents don't know about this law because a search on the "by broker" section of craigslist with a search term of "safe" yields more than 500 results.
Does this mean you are allowed to disclose when a neighborhood is safe but not when it is unsafe? Because when I search for "unsafe" there are only 2 results.
Last edited by Green Irish Eyes; 10-05-2008 at 12:09 PM..
Reason: No links to competing sites, please :)
I guess most of NYC's real estate agents don't know about this law because a search on the "by broker" section of craigslist with a search term of "safe" yields more than 500 results.
Does this mean you are allowed to disclose when a neighborhood is safe but not when it is unsafe? Because when I search for "unsafe" there are only 2 results.
That'll be the day when real estate agents start following legal requirements when trying to capture an unwitting potentail tenant or buyer. You just debunked the myth perpetrated by the poster in question.
I suggets that consumers have all their antennas up when using agents. Their interests and ours are most times adversarial. It can't be helped, it's the nature of their profession.
Last edited by Green Irish Eyes; 10-05-2008 at 12:09 PM..
Reason: Edited quoted text
Some brokers are very good, but with far too many it seems to be a "letter of the law" type of action, not acting in good faith. Some go out of their way to write up such wonderful descriptions of neighborhoods and apartments, only to find out that it's a transitional zone with many cash-and-carry operations that exist on the street at all hours (convenient shopping if you're into the product being sold), and then they cleverly omit facts when discussing a particular area.
This does not apply only to transitional and bad areas, since I have seen many descriptions of Riverdale that neglect to mention that it's part of the Bronx. Now, it does not take a rocket scientist to figure out that far northwest New York City is the Bronx on a map, but when cleverly omitted in marketing speak by a particular agent, I view them with a very critical eye. So, while under the law certain topics cannot be discussed, it does not count the same on the other side of the equation where facts can be portrayed in a different light, which can portray areas as something that they're not.
I'm sure many fellow New Yorkers know this, but I just wanted to state it for those who might not be wise to the way real estate works here. That's why it's so important to do due diligence in selecting a new neighborhood in the first place, since many may feel that they can rely on agents to do all of the legwork for them. The agents work for the owner, unless you retain a buyer-broker.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
