Sponsor unit

More important than your (lengthy) time horizon is the unit itself. how large? full-service building? how much work will it need on the front-end?

@pinecone,

Thanks for your help. This is a studio ~400 sq ft. that is in reasonable condition but will require new floors, painting, appliances and complete bathroom renovation. The maintenance includes taxes, heat, hot water, electric and live in super but no doorman. The building is land lease (lease valid for 69-70 yrs). Has a laundry room, lobby and elevator. Unlimited subletting after two years.

Yes this maintenance seems reasonable, However if you were looking into a New Development Building maintenance would be lower. Maintenance also depends on the services providing in the building. If you have more questions please feel free to email me.

Not enough information.

As a minimum you need to provide square footage, floor number, apartment condition etc. You may want to get professional advice as well on how the apartment is priced relative to comps. In general, coops right now are well-priced relative to new developments.

BTW even if I'm right and everyone else is wrong and we are at the beginning stages of a huge market correction you would probably still be ok in 20 years.

Thank you.