Sale at 20 East 9th Street #9E

Oops, try http://decisions.courts.state.ny.us/fcas/fcas_docs/2011MAR/3001092622010001SCIV.pdf

I can't read legal dox - who won the suit?

Nobody, yet. The decision dropped the co-op and managing agent as defendants, leaving it just between the two neighbors. Now that the Southerns have moved, Sherlock will probably drop it altogether.

Sorry to take this thread in a different direction, but I have a question on affordability of this place:

Purchase Price: $625,000

Down Payment (20%): $125,000
Mortgage Amount: $500,000
Mortgage Payment: $2,684
Total Monthly Payment: $3,834

Monthly post-tax income needed to budget 30% to housing: $11,502.00
Yearly income: $138,024.00
Taxes (40%: city, state, fed): $55,209.60

Total income to afford this place: $193,233.60*
Does not include: electric, gas, cable, internet, insurance.

So an individual has to earn two hundred thousand dollars for the next thirty years in order to be able to afford an alcove studio...

Question: what am I missing here?

A $250k/yr lemming fairy that'll come and buy it for $800k in 5 yrs when the current owner gets married, has children, loses a job or decides to live in a Greek isle.

-remember boys and girls, there will always be another more successful buyer that'll take you out plus 30% or 150% return on your initial investment in 5 years- that's a borker guarantee in nyc

You're missing the bank of mommy and daddy, which often does not want to subsidize rent forever, but would prefer to put up a lump sum buying something and then let the gifted progeny handle the maintenance. In my building, the last three purchasers fit that profile.