167 Sands Street

I don't know the bldg. but they were previously selling for $180k.

The best way to find out is check it out. TIPs: Check out the residents' profile and the condition of the building and how it is run if it is self managed by tenants themselves (HDFC'tenants took over due to inrem proceedings-the building was taken over by the city due to non payment of taxes and tenants bought the building from the city. Nothing wrong with this as long as the ownership is legit.

Prospective buyers should proceed with abundant caution. I tried to purchase here and ended up wasting a lot of time and money on a deal that (it eventually became clear) was never going to happen. Rely on your intuition regarding this place. There are good reasons why the units are priced so low and sell so infrequently.

Why didn't the deal happen? What's wrong withe building?

Yes, please fill in... what happened? Why couldn’t you buy it???

I looked at a 2 bedroom unit in this building earlier this year. The co-op board requirements, as described by the listing agent, were the most ridiculous income requirements that I've ever heard of. My broker was at a complete loss for words!

Basically, the income required to buy matched that of the unit purchase price. Since the unit I was looking at was priced at $325k, I would need an annual income of $325k in order to purchase it.

And its not as if the building was demanding cash buyers only - conventional mortgages were allowed for purchases.