Why would a building desire only all cash purchasers? 230 East 79th St

Usually it's because they are in a big hurry. The other possibility is that they were just burned by somebody who couldn't get financing after all.

no financing contingency -- better risk profile.

sometimes this is the SPONSOR unit, meaning that you don't have to go thru board approval, I know that building and 49% of units are still in control of sponsor, he doesn't wanted to be bothered to wait for bank approval, and since he doesn't need board approval he can be more restrictive in his own requirements since not having to be bothered with board approval is a BIG thing for many buyers, so he calls the terms. Not a bad building, apts. are rather small, somewhat, good location, but the maintenance is rather high there, be careful!!

Thanks, teeman! That makes sense.

It's probably harder to get a mortgage for a 49% sponsor-controlled building (i.e., rentals). I wonder how many of those sponsor units may be rent-stablized...