Buying a Second Co-op?

If you are buying for onvestment try Emigrant Bank

Is this co-op for Brian or the girls.

Is the 2nd coop for someone else in the family or investment?

we purchased 2 co-ops (studios) in 2008 and had to swap from Chase who we bank with day to day to Citibank because Chase didn't do "combination" loans.

fair enough no big deal.......

here we are in 2012 and we want to buy a third co-op to join to our other apartment....F-me....guess what Citibank no longer do combinations BUT....Chase does and approved us in less than a few weeks.

lol so we shifted all out banking back to Chase.

You can really win with banks can you.

deanc, I shudder merely thinking of your combined maintenance.

At Citi, I had different experiences with different bank attorneys. When we refinanced, we were first told we would have to combine our stocks/leases. (We have a second stock/lease for additional space we purchased from the building in a cash deal.)

Then, halfway through the refinance, Citi shifted us to another bank attorney, who was just fine with two stocks and leases.

We do have an agreement with the building that we can't ever sell the additional shares except in conjunction with the main shares, so perhaps that made a difference. Who knows.

@Buster....why? maintenance is based on square footage. Its the same as if we bought a single apartment in the first place.

(lol having said that....our combined 3 studio apartment is going to be no bigger than our apartment in Australia which costs us about 1/4 of the maintenance fees due to the high NYC taxes).

in general the maintenance psf is higher the smaller the apt in a given bldg.

so combos usually have higher mntnce psf.
now if the bldg is all studios, say, that my explain dean's comment.