Sell before buying?

Your lawyer is correct. Is your 1 bed in the UWS a condo or co-op?

If co-op, what is the boards history when it comes to reviewing applications? It can be anywhere between 60-120 days to get approval. How long did it take you to get approved when you bought? We are already in mid-September and if you were to assume selling in the next two weeks (a big assumption), you would need everything to go perfectly for a February move in. Seems tight to me.

If condo, you should be ok assuming the 1 bed is priced market competitively and is in a decent location on the UWS.

One other thing, if the 2 bed in Brooklyn is a new build, being told ready in February and being actually ready are two very different things. Either way, you are rolling the dice.

Thanks for your input JuiceMan.

My 1 bedroom is in a condo in a building with great amenities (gym, rooftop garden, laundry, doorman, live-in super). It is in the mid 90's, around the corner from the nearest subway station (2/3/1). I think it will sell relatively quickly based on how other units have sold in the building. - although I know it's a different market these days.

The 2 bedroom I am moving into is a new development, so you are right, a February closing is not guaranteed. I guess I'm just trying to figure out how long it will take for my place to sell so I can time it with my estimated closing date.

Let's put it this way. The place you're interested in Brooklyn will NOT be ready in Feb. The safe thing to do is put up your place for sell now and then rent. You don't want to be stuck with two places.

I personally would sell now and not try to time it. Last thing you want is a scenario where you have to dump it quickly. Maybe you can find a buyer that will rent back to you until you close on the new apartment? Worse case scenario is grabbing some temporary housing in between closings, not ideal but less risky. That said, as seen on this board new developments can push indefinitely, so I would want to be pretty sure on February. Good luck!

Thank you both for your advice, it really helps to have other people's perspectives. Based on what you and my lawyer have said, I will probably put my apartment on the market in the next few weeks.