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Should I prioritize building amenities?

Started by millefeuille
almost 19 years ago
Posts: 73
Member since: Jan 2007
Discussion about
Hi all, I found three different properties in West Harlem, between 120th and 145th street: 1- co-op (low $400K) with gym, 24h doorman, laundry room, courtyard: maintenance+tax = $900/month 2- co-op (low $500K) with only a courtyard: maintenance+tax = $700/month 3- condo (high $500K) with no building amenities: maintenance+tax = $200/month Do the maintenance fees make sense for each property? Should I prioritize the building amenities if I want to sublet/rent after a couple of years? Any valuable insights would be much appreciated. Thanks.
Response by anonymous
almost 19 years ago
Posts: 8501
Member since: Feb 2006

well this is all going to be based on opinion, but in my opinion the Condo makes the most sense out of these three options (I would throw out option #2). I would look at the price difference between the first and second and in my opinion the additional ammentities (while nice) aren't worth an extra $700 an month ($8400) a year. You can certainly join a gym and have your laundry done for you at a laundromat for much less than that. The doorman would be nice but when you consider the extra expenses like holiday tips, I don't think the extra fee is worth it.

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Response by anonymous
almost 19 years ago
Posts: 8501
Member since: Feb 2006

In my opinion option #1 may be the better. However, first off, you should check out the subletting policy of that co-op. Not all co-ops have onerous rules regarding that. Furthermore, when it comes to re-sale (and convenience) a laundry room is pretty key. A number of people would never consider a builing without one. A doorman and gym are also strong selling points. As to the prospect of sending laundry out, without a doorman that would not be very convenient.

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Response by spunky
almost 19 years ago
Posts: 1627
Member since: Jan 2007

I wouldn't buy any apt without a 24 hr doorman. A bit surprised the Condo doesn't have one.

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Response by anonymous
almost 19 years ago
Posts: 8501
Member since: Feb 2006

agreed - i dont know harlem well - but i want a doorman and have bought near columbus circle - so i would def want one in harlem too.

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Response by millefeuille
almost 19 years ago
Posts: 73
Member since: Jan 2007

Thank you for the first comments.
I still cannot explain the high maintenance fees for property #2.
Any other opinions on the matter?

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Response by anonymous
almost 19 years ago
Posts: 8501
Member since: Feb 2006

Do you really think a doorman privides that much security? I admit it would be a nice thing to have (especially in harlem) but I think of how many buildings I have gone into where the doorman has told me just to go up that I don't think they are that much of a great expense.

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