Park Avenue Type Boards

Started by eastsideaptsearch

over 15 years ago

Posts: 24

Member since: Jun 2010

Discussion about

So the other discussion about co-op board rejections got me thinking....I'm looking for a one bedroom on the UES....have looked at some in the 80s - Park Avenue, Madison Avenue, and the side streets in that area. Any experience (or advice) with specific boards? I'm not a zillionaire but have a good net worth....there's a very limited inventory of one bedrooms in this area and obviously all co-ops with a random cond-op here or there...

Response by kharby2

over 15 years ago

Posts: 279

Member since: Oct 2009

Every building is unique. I've been working the Upper East Side a lot lately, and I find a range of expectations. My sense is that the Great Recession has had an impact on how some boards look at applications, so any information you get needs to be current.

As an aside, the word "cond-op" in its proper use doesn't necessarily tell you anything specific about the board's expectations. All cond-op tells you is that part of the building has commercial tenants, and that part is organized as a condominium. The residence portion is organized as a co-op.

Unfortunately I think, some people use the word cond-op to refer to a co-op with a very relaxed, condo-like board, but when you see cond-op in official city documents, that is not what is meant by the term.

I have an FAQ on my blog that might be helpful:

http://gothamcityhomes.posterous.com/faq-for-buyers-of-new-york-city-apartments-ny

Karla Harby
Rutenberg Realty
kharby@crrnyc.com

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