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There's a bunch of units for sale real cheap in that building. The building has a land lease, that's why the maintenance is so high and everyone in the building is trying to sell. Don't buy in that building, never buy in a building with a land lease. A land lease, means the building is leasing the property it's built on, typically a co-op building should own the property it stands on.
No, all cash co-op buildings are common all over NYC, but many are located in Manhattan especially UES, Sutton and Beekman Place. It simply means just what it says; approved shareholders must buy with all cash, no financing allowed.
Because buyers of co-ops don't actually purchase real estate, but shares in a corporation both co-op boards and lenders have reasons for avoiding financing.
Banks usually won't lend for a co-op without something from board that gives them right to get at the apartment (shares) if borrower defaults on loan. Co-op board OTOH may not want just anyone buying a foreclosed note and getting into their building.
Trend in condos has been growing in city because they just like a private house can be wholly or partially financed. Before things hit the fan with 2008 real estate meltdown you had buildings where people had nil to no skin in the game.. unit after unit bought with credit. When borrowers defaulted banks were left holding the bag, and buildings full of foreclosed units.
Ironically it was the staid white glove co-op buildings with their strict financial requirements that withstood that upheaval and subsequent aftershocks rather well. Their insistence on shareholders meeting strict guidelines for approval meant you didn't have hordes of people living in a building who were over extended.
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And the listing notes what 20% down would be for this place, so I imagine they are open to non cash buyers, too. 
