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What will it sell for: misallocated shares edition

Started by likestocook
over 6 years ago
Posts: 28
Member since: Jun 2015
Discussion about 150 West 87th Street #1BF
I have no info about the actual share allocation other than comparing maintenance for the 2BR 2.5BA penthouse that sold for $3M last year ($3,476). If you're allowed hand the keys over to the coop at any point, then it could be worth buying it and living until the maintenance is higher than comparable rent...
Response by likestocook
over 6 years ago
Posts: 28
Member since: Jun 2015

Nothing from the peanut gallery? Is there any way that the corporation doesn't end up owning this in 20 years?

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Response by Aaron2
over 6 years ago
Posts: 1698
Member since: Mar 2012

What in the world is happening out on that 'side terrace' that you need a 'mud room'?

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Response by truthskr10
over 6 years ago
Posts: 4088
Member since: Jul 2009

Cant respond cause I cant figure it out.
To add to the confusion, previous listing, pre reno has it at 1100 square feet and less 1 backyard. It is now an extra floor (or basement) of additional 900 sq ft plus an additional yard.
This might have provided the answer except the '11 sale listing maintenance is already obscenely high and seemingly normal inflation from 2011.
So this pretty much eliminates a typo and/or additional shares for the extra floor and yard now in the floorplan as an explanation.
Maybe a much previous owner paid a ransom for the yard(s) in shares.
Instead of laying out cash, eating more shares which in effect reduced the rest of the shareholder's costs.
There has to be more to this story.
You'll only get the answer engaging the sales broker to find out.

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Response by nyc_sport
over 6 years ago
Posts: 809
Member since: Jan 2009

I assume that this was once a Dr. office or other commercial unit. The commercial units frequently are over-allocated shares/common interest.

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Response by truthskr10
over 6 years ago
Posts: 4088
Member since: Jul 2009

Sport that is an excellent possibilty

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Response by 30yrs_RE_20_in_REO
over 6 years ago
Posts: 9878
Member since: Mar 2009

Professional space a possibility, commercial not.

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