Racial / Gender Profiling
Started by JoseIR4
about 2 years ago
Posts: 4
Member since: Apr 2021
Discussion about 125 East 74th Street in Lenox Hill
Beware - if you're not white, straight, or inherited money, you're likely to get turned down by this board. Working class people - despite proving success and showing many multiples of the purchase price post-close - are not welcome. This is one of these "understated" buildings on UES that is "just ok" - if I am honest, it's on the shabby side - yet its residents think they live in a prime 5th Avenue establishment. Let us not forget why Co-ops in New York were created in the first place: https://therealdeal.com/magazine/national-may-2021/not-our-kind/ This building seeks to perpetuate this thinking.
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just move on. doesn't look like a well managed building anyway
I hadn't seen your response @Rinette. Yes, I have moved on. But I think it's important to try to 'out' these buildings (if even possible) for this type of behavior.
I am sure whoever is in the process of buying this apartment is perfect for the building - straight, white and has a large trust fund.
@JoselR4, The listing says that 50% financing is allowed. So the board probably requires multiples of cash reserves. What kind of cash reserves did you have?
@jsw363
And why might the board require multiples of purchase price in cash reserves instead of the standard requirement of two years of monthlies? Isn't the poster right that this is simply a tool for discrimination against working folks of all stripes, in favor of those born into the "right (rich) families"? with the ability to relax the financial requirement for some folks with the right skin color or pedigree?
Look on the bright side…if this building really discriminates so as to only allow “rich/right families “, it’s a good thing all those “rich/right families” are contained in this and similar silly Coops. I would not want these people to be my neighbor in my condo, which I can say is pleasantly diverse like NYC. If I want to join some old white guy country club, that’s what I’ll do. Sometimes getting rejected from a fancy Coop is a blessing in disguise…
small apartments, high maintenance per square foot, not a luxury building, and on a noisy avenue
Depends on what you call luxury. 30 units full time DM plus gym = high monthlies.