Skip Navigation
StreetEasy

Lower Owner Occupancy - Bad Sign?

Started by brooklearner
about 18 years ago
Posts: 4
Member since: Feb 2008
Discussion about
I'm mid-negotiation on a Brooklyn coop. According to the building, the owner occupancy is around 55%, which seems pretty low. Is this something to be worried, or I am just being paranoid?
Response by bluerain
about 18 years ago
Posts: 47
Member since: Feb 2008

For a coop, that *is* low, I think. I lived in a condo with a higher rate.

Ignored comment. Unhide
Response by urbandigs
about 18 years ago
Posts: 3629
Member since: Jan 2006

YES that is very low! Many lenders will NOT lend on a building with OO rate that low because it is considered to be of higher risk. Def get a discount on the deal because of this if you go through with it. I think 75% is considered the balancing point, below its a red flag, above its OK. Obviously, lenders prefer higher OO rate!

Ignored comment. Unhide
Response by Jerkstore
about 18 years ago
Posts: 474
Member since: Feb 2007

loo=flush

Ignored comment. Unhide

Add Your Comment

Most popular

  1. Mamdani heading towards raising property taxes
    182 Comments
  2. Eric Adams weighs in on housing
    9 Comments
  3. Dentist and gold crowns
    23 Comments
  4. Beautiful Fake Reno
    19 Comments
  5. Why Are More Millionaires Renting?
    40 Comments