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Underlying Mortgage

Started by DTDWIH
about 15 years ago
Posts: 106
Member since: Nov 2008
Discussion about
Does anyone happen to know how many COOPS (percentage-or generally how common is it) have paid off their underlying mortgage?
Response by Topper
about 15 years ago
Posts: 1335
Member since: May 2008

I think it is relatively few. Most have modest underlying mortgages whose cost gets reflected in maintenance charges - and the percentage that is tax-deductible.

If I'm interested in a coop I always ask for this information. Amazing how very few brokers know the answer and they have to get back to me. (I'm particularly interested in the mortgage that is ascribable to the unit in which I'm interested.)

Sorry I couldn't be more macro-quantitative. Hopefully, someone else will have this information.

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Response by NWT
about 15 years ago
Posts: 6643
Member since: Sep 2008

Not very many. Here're some: http://streeteasy.com/nyc/sales/manhattan/type:P1%7Cdescription:underlying

For statistics, you might want to try the Council of NY Cooperatives. If they don't know, your best bet would be an accountant, lawyer, or managing agent with a broad representative base of clients. Or maybe a big brokerage house keeps track of stuff like that.

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Response by w67thstreet
about 15 years ago
Posts: 9003
Member since: Dec 2008

I'm going on a cruise this weekend. Does anybody know how many state rooms have double wide balconies?

I think it's called the titanic..... FLMAOZzzzzzzzzz

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Response by DTDWIH
about 15 years ago
Posts: 106
Member since: Nov 2008

Oh yeah w67 I forgot this forum is only here to be snide and cutting on. OOPS

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