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Is this Building a land lease?
No. The co-op bought the land when the building converted in 1983.
Any idea why the prices seem lowish compared to similar properties in the area? Is it the high(ish) maint?
Looks to be a standard post-war First-Avenue co-op. The underlying mortgage is a bit high at $13,700,000, but an average unit's share would be only $43,000, so wouldn't jack the maintenance up that much.
nice building....walk by everyday......common charges are just to high..
If you look back seems like the maintenance was quite reasonable. What happened? Did they upgrade the building and pass the expenses off to the owners?
We have just started our search for a co-op in Manhattan and we're interested in this building. Maintenance seems quite LOW to me. Anyone live there who can comment on it?
what line are you looking at? the maint is pretty high comparable to other bldgs, and we have had 5-6% increases the last 2 years and a 18 month 13% assessment is still going on.
What is the deal there? Do they plan on increasing the maintenance forever? Seems like every year there is one
What is the assessment for?
I am looking at the g line.... One just sold for 725k.... That must be a record for cheapest 2conv 3 bedroom in the city , besides a land lease
@erlto9: Although that one sold for so cheap, another one sold for 100k more right after. The issue w/ those are that the maint is 3,200ish and w/ the assessment close to 3,500.