Analyze This

Sorry, can't get past the maintenance.

Ok the maintence is high but, eveything goes into the formula. A high maintence drives down the price (in throry). This will be a primary long term residence for my family. I know the pros and cons of coops. Just not the specifics of this one.

This is what I don't understand...the world economy is tanking to near depression era with that real estate prices will definitely tumble to record lows and yet people like falcogold are going to buy in this market now...why?????

you said it best:
--feels (and is) small)
--used hard
--location dicey

have read many times on various posts to be wary of allure of outside space---not useful in deep summer months (too hot) and not useful in core winter months. so, maybe 5-6 months of the year, its borderline useless.

buy a cheaper place without the outside space and use the difference to buy a nice place upstate.

>>A high maintence drives down the price (in throry).<<

Not a great way of looking at things. A high maintenance can signify problems with the building's financials. A high maintenance will only continue to increase. A high maintenance will make the unit harder to sell down the road.

Also, I agree with columbia that outdoor space is vastly overrated. I'd rather have a larger apartment whose space is usable throughout the year than a small apartment with a big patio/terrace that gets only seasonal usage. This is just me, of course.

I'm also concerned about your assessment that the apartment 'felt small'. That should send off warning bells in your head. If it feels small now, it will ALWAYS feel small, and that 'small' feeling will likely only worsen. I've rejected perfectly serviceable apartments with great light and views, in good buildings, in our nabe of choice because they just didn't feel spacious enough.

You have to go with your gut in these things.

Just took a closer look at the listing and saw there is only a part-time doorman... in my book, unacceptable for such high maintenance charges. I'd really like to see this building's books--something's not right here.

96 and lex...tough call. Hang around there around 3:10pm-3:15pm any weekday. Report back

This maint refelcts the terrace costs. I had a huge terrace on my lasst place and the building allocated many more shares. if the roof leaks (via your terrace) -- the expense is the buildings. vbery pretty place.

Julia,
This IS the tumble, this IS the time. I'm not wipping out the check book today. It's watch and wait time. If this vanishes off the market fast that will be a big clue for me and, if it sits for a few months, like I suspect, we should see some price capitulation. I agree the market is going down, with some luck, right to my pocket size. All this being said, what do you think about the price, given all the factors. I never saw a piece of RE I didn't like, the problem has always been the price. At the right price everything is good. So, what price am I waiting for, given all the conditions. What do similar places in this hood go for? People say a watched pot never boils, I say bullshit, I'll tell you the second it boils...that's when I pull the trigger.

patient,
I was pleasently suprised at he family crowd in the park on the corner of Lex and 96th. In my youth it was known as 'nickle bag park'.

falco: well put. I have my own expression. There is no such thing as a bad asset, only bad prices for assets.