building at 300 East 71st Street

rats?

The 12/21 sales were of unsold tenant-occupied apartments from one Holder of Unsold Shares to another.

Then the 9M tenant vacated, and the HOS sold it in 2011.

11H also.

does this building have central air or thru the wall?

through the wall

All those sales from 12.21 were purchased as mentioned by NWT from one holder of unsold shares to another. 11H was then sold in original condition to someone and 9m was completely renovated and sold for $982,500. There are others now in contract as well...

Pleasant post war doorman co-op, but unfortunately 2nd subway construction will be an issure for several more years.

Buyer Beware -- apt 17C has had board rejections & apparently the building is demanding requiring 400k+ for a shabby condition $1.1M apt. This was driving open house visitors away visibly, as the agent appeared demoralized and was only really selling the place to folks who could clear that hurdle; assets don't matter btw. The board seems nuts given the condition of the exterior being completely under awnings and 2nd avenue subway ruining the street, they still seem to believe they operate a very exclusive white glove building. Especially love the ash trays STILL in the hallways near the elevator. Blast from the Past.

oops to clarify -- their debt to income ratio is very strained and the board is requiring that purchasers of 17C come in well above 400k regardless of assets.

oops, still forgot to clarify 400+ in terms of annual income. the agent quoted the board in one rejection as having said "400k annual income minimum, 600k ideally" -- this is hilarious given the price of the apt and their own openness to financing. And I wonder what it means about how the building runs their finances.

Also, ashtrays near the elevator are a violation--I haven't unpacked my reference book yet so I don't remember the details--but that means the managing agent is too relaxed for my taste. Plus, if they aren't monitoring the obvious, everybody-knows-better things, you have to wonder about the mechanicals that are invisible to the buyer (and often their "inspector").

A DTI of 20% (which is what $400K backs into, to me) does seem unusual, especially for that location, but given the "shabby" condition, the board is possibly just leaving the new shareholder room to renovate. I would say "strict" rather than "hilarious."

ali r.
{downtown broker}

I just went to the open house in 9L this weekend. The building didn't impress me. It may seem trivial, but what really turned me off was that the laundry room is only open from 8am - 10pm. That made me throw away the flyer because I'm not going to dedicate one night week to do laundry instead of doing it at 6:30am in my current building.

Having lived in this building as a longtime owner, I can state that the board is filled with people who are interested in their own investments rather than the stability of the building's finances. When I ran into an old friend from the building recently and was told that they were building a gym against all previous votes because of the insurance and liability issues, it shook me to the core. The old board is once again ruling the roost. I would not buy in this building with the current board in place.

Would anyone mind sharing their experience living here? Positives and negatives? Cleanliness, bugs, noise?

Dawnleslie — id love to hear more about what you said. Okay to chat over email?

Could anybody who lived/lives here share what they viewed as the positives and negatives? Any issues with building upkeep and cleanliness, bugs, noise? Any pleasant surprises?

dawnleslie -- thanks. would you be open to talking over email about your experience?

any ideas on why there are so many units for sale?

any perspective into what the board looks for (DTI, reserves etc.) and how they account for bonus income? 20% DTI from the post above seems pretty strict from what I hear. curious how strict the board is on these metrics and what is an acceptable range...

Even if the current board goes away, the new people are most likely the same type

is the monthly assessment for the gym?

Too funny reading all of these bogus opinions

@Admin2009 what do you mean? do you have experience with the building/board? Curious to hear you thoughts

Re-posting here in case anybody can share their experiences with the building and board? Lots of units in the market.

would like to know more about the board and the building
what is going on here, why are so many places for sale