Citylights: 9% maint. increases for at least 5 yrs

Yes, I have been looking at units in this building for past year. Avoided them and although prices are coming down in the units still on the market, being very careful still. Some of these current owners trying to sell their places should have their heads examined. They are acting like it is still 2016 with the tax assessment not solidified yet. And what's with the underlying building loan of $ 80 mil. why haven't current owners paid that off yet? It keeps adding to the maintenance!!

@Sarah we had the same concerns when we considered buying in Citylights in late 2017. For us, the decision to ultimately buy in the building came down to wanting to be in this neighborhood. There are only a few options for purchasing on the water with city views. So you can buy in Citylights with a lower price tag and higher maintenance OR go down the street and pay 50% more to purchase and pay slightly lower maintenance. Everyone acts like Citylights is so high - check out other buildings in the neighborhood, they are paying $600 to $1500 for maintenance on top of a huge mortgage. And btw, their tax abatements are all ending soon as well - so who knows what happens with their fees after that happens. At the end of the day, would we prefer maintenance to not be going up over time? Of course. But this is one of the nicest neighborhoods in LIC - so we feel it's worth every penny.