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That may be what they say in Boston, but not in NYC.
If you don't believe me, check the NY Times. Here's an example: "After renting a one-bedroom for seven years, Catherine and Peter Bertazzoni had saved enough for a down payment and were ready to buy their first apartment together. They knew it would be a challenge to find a move-in-ready two-bedroom on the Upper West Side within their $1.5 million budget, but with a baby on the way, they needed more space." https://www.nytimes.com/2015/11/22/r...me-buyers.html
Here's another:
"According to the Corcoran Group, the real estate brokerage, the median price of all apartments in Manhattan is now $916,000. The median price of a one-bedroom apartment in Manhattan is $710,000." https://www.nytimes.com/2015/01/18/r...york-city.html
Whoever wrote the articles has probably never lived in anything other than a rental, so refers to everything as an apartment, and NYT proofreaders aren't that compulsive any more :-). But Corcoran markets apartments only if it intends to find a tenant, and co-ops/condos if it intends to find a buyer.
I never said or thought I was such hot stuff because I owned a condo in Parkchester (I actually said a number of times that I owned it because it was the CHEAPEST option that was still reasonably safe, if I intended to visit NYC frequently/for extended time). I never said either Parkchester or myself were high-class. You are the one obsessed with high-class UES rentals, I don't care :-).
I said that owning in Parkchester Condo (like myself) was a more substantial connection with PC than frequently passing through PC - because the other poster was bizarrely arguing that passing frequently near or through PC is a more substantial connection with PC. I know exactly what the issues are or aren't within PC, the issues are discussed to death between HOA members in writing, I have had tenants there for 11.5 years, and I have spent blocks of time ranging between 10 days and 6 weeks there after I stopped renting out. I know everything there is to know about how and for whom Parkchester was built, included architectural books that discuss Parkchester in detail.
Parkchester Preservation had a written rule that it did not accept Section 8 or any other subsidized programs until about 2 years ago, when some "activists" planned to sue them for it, at which point they removed that wording from their written rules. They retain the requirement for a minimum income of $60k per year for a 1-bdrm, which exceeds the highest theoretically possible income of a person on Section 8. Regarding small landlords in the condo complex, those who own 6 or less units are not required to take Section 8, and are not taking it. Regarding those who own more than 6 units - there are two of them right now selling their portfolio because they don't want to be bound by requirement to take Section 8.
Where exactly did you get the info that there are "plenty" of Section 8 tenants in PC? I own in PC, I have access to plenty of info about other owners and tenants, and am not aware of any major presence of Section 8 tenants in PC. About 2,500 units in PC are owner-occupied, about 6,300 are owned by Parkchester Preservation ($60k minimum income for renters), and about 4,400 are owned by smaller landlords (overwhelmingly Chinese). Out of those 4,400, very few clusters are owned by landlords with more than 6 units who must take Section 8 if they list their condos as rental apartments for a rent lower than the Section 8 voucher.
At one time, Parkchester accepted Section 8 vouchers, and it wasn't that long ago either. Owning or renting in that Parkchester complex isn't that big of a deal. That whole complex needs to be updated. I've been in Parkchester many times. Some of the grounds could definitely use new sidewalks. Elevators are quite dated. Everything is dated.
At one time, Parkchester accepted Section 8 vouchers, and it wasn't that long ago either. Owning or renting in that Parkchester complex isn't that big of a deal. That whole complex needs to be updated. I've been in Parkchester many times. Some of the grounds could definitely use new sidewalks. Elevators are quite dated. Everything is dated.
Parkchester Preservation had it in writing since at least 2008 until recently that it did not accept Section 8 or any other subsidized housing programs. Some of the smaller landlords occasionally took Section 8, but it is uncommon (and has been uncommon since at least 2008). In my 11.5 years of landlording a single unit in PC, I advertised the unit three times, and every time got a lot of interest from overwhelmingly unqualified people, but even among those nobody was with Section 8. PC is so well known for not having much Section 8 that Section 8ers don't even look into it. Plus, every rental application package in PC (to PP or private landlord, doesn't matter) has to be processed and approved by the rental office, and there is a fee for that which Section 8ers don't want to pay :-).
The complex "needs" to be updated? Who needs it? Your personal needs are some other people's trivialities. I personally don't need anything updated there. For some people "dated" is a plus, or at least is irrelevant.
Parkchester Preservation had it in writing since at least 2008 until recently that it did not accept Section 8 or any other subsidized housing programs. Some of the smaller landlords occasionally took Section 8, but it is uncommon (and has been uncommon since at least 2008). In my 11.5 years of landlording a single unit in PC, I advertised the unit three times, and every time got a lot of interest from overwhelmingly unqualified people, but even among those nobody was with Section 8. PC is so well known for not having much Section 8 that Section 8ers don't even look into it. Plus, every rental application package in PC (to PP or private landlord, doesn't matter) has to be processed and approved by the rental office, and there is a fee for that which Section 8ers don't want to pay :-).
The complex "needs" to be updated? Who needs it? Your personal needs are some other people's trivialities. I personally don't need anything updated there. For some people "dated" is a plus, or at least is irrelevant.
I would think when people that live in the complex complain that there is no heat, that would be a need...
If they stopped, I suppose that's a good thing, because they certainly did back in the day. I guess Parkchester is moving on up... LOL Nothing wrong with it either way, but it's just annoying that she makes this place out to be made of gold or something. It's just a working class neighborhood where some people are able to own at CHEAP prices. That's it... I can assure you that with what I pay at market rate, I can certainly afford to purchase my own apartment if I so chose to. What I do find funny is most of the apartments in that complex don't have a laundry room or a washer/dryer in the apartment. Talk about "luxury" living in 2020...
Whoever wrote the articles has probably never lived in anything other than a rental, so refers to everything as an apartment, and NYT proofreaders aren't that compulsive any more :-). But Corcoran markets apartments only if it intends to find a tenant, and co-ops/condos if it intends to find a buyer.
Wow, you are such a know it all. AND YOU ARE WRONG.
Since the NY Times appears to be over your head, I found this one written for dummies that's probably better suited for you.
What’s the Difference Between a Condo vs Apartment in NYC?
An apartment is a general term for a separate residence within a larger building. Apartments in NYC can either be individually owned condominium units, co-op apartments or one unit of a rental building that is entirely owned by one landlord.
Many folks moving to New York City for the first time will be confused by the difference between a condo vs apartment. Often times properties will be listed as simply an “apartment” on major real estate search websites, and home buyers will become confused to later find out that it is actually a condo or a coop. We’ll explain in this article the difference between a condo vs apartment in NYC.
Condo vs Apartment – What’s the Difference?
As we’ve discussed above, an apartment in New York City is a blanket term for a form of living that involves separate residences within a building, or simply having neighbors with whom you share a building with.
I would think when people that live in the complex complain that there is no heat, that would be a need...
Correct, that would be a need, but PC has fulfilled that need in my unit ever since 2008 when I bought that unit. The condo complex has a service department that fixes that type of problems. I did have something banging loudly through the night in the heating pipes at some point, tried to call the service dept, nobody was answering the phone, went to the management office to complain, and it was fixed the same day. I don't know who has no heat in PC or why.
Wow, you are such a know it all. AND YOU ARE WRONG.
Since the NY Times appears to be over your head, I found this one written for dummies that's probably better suited for you.
What’s the Difference Between a Condo vs Apartment in NYC?
An apartment is a general term for a separate residence within a larger building. Apartments in NYC can either be individually owned condominium units, co-op apartments or one unit of a rental building that is entirely owned by one landlord.
Many folks moving to New York City for the first time will be confused by the difference between a condo vs apartment. Often times properties will be listed as simply an “apartment” on major real estate search websites, and home buyers will become confused to later find out that it is actually a condo or a coop. We’ll explain in this article the difference between a condo vs apartment in NYC.
Condo vs Apartment – What’s the Difference?
As we’ve discussed above, an apartment in New York City is a blanket term for a form of living that involves separate residences within a building, or simply having neighbors with whom you share a building with.
That link is a phenomenally complex over-elaboration of "information" which approximately nobody needs (because anybody searching online for housing, and using the search term "apartment", will easily see that the search returns only rentals) - about as pointless as most of this thread :-). I copied the definition of "apartment" from Merriam-Webster dictionary in a previous post, and I intend to continue using "apartment" in the same meaning as the dictionary defines it. I don't have anything else to say on the subject :-).
That link is a phenomenally complex over-elaboration of "information" which approximately nobody needs (because anybody searching online for housing, and using the search term "apartment", will easily see that the search returns only rentals) - about as pointless as most of this thread :-). I copied the definition of "apartment" from Merriam-Webster dictionary in a previous post, and I intend to continue using "apartment" in the same meaning as the dictionary defines it. I don't have anything else to say on the subject :-).
Wrong, Elgrby. Rental, Coop, condo doesn't matter. Doesn't matter if an owner paid 250K or 250M. Everyone calls it an apartment.
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Nothing wrong with it either way, but it's just annoying that she makes this place out to be made of gold or something. It's just a working class neighborhood where some people are able to own at CHEAP prices. That's it... I can assure you that with what I pay at market rate, I can certainly afford to purchase my own apartment if I so chose to. What I do find funny is most of the apartments in that complex don't have a laundry room or a washer/dryer in the apartment. Talk about "luxury" living in 2020...
