Just to let you all know that there are still co op's available in the complex that i'm buying. it is a transition from garden apartments to co ops. there is a workout room and laundry facilities and the last time i was there 1 bedrooms were going for 140,000. i think the maintanence is 700 including heat, water and taxes. 58 percent deductible. located in smithtown. they are huge units. fm me if you want more info.. we could have a liweddings complex..lol
anjerandunder
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Re: anyone need a co op?
wow i sound like a realtor..just wanted to let everyone know because it really is a great deal with the market the way it is and i just love the unit..lol
palebride
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which complex is it? we were looking in smithtown and almost got a co-op there...and we have friends that have a co-op there as well
anjerandunder
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sherbrook..please don't tell me anything bad about it..well okay you can because we're just in contract so...
palebride
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no, that's not the one i was looking in, nor is it the one they live in......i was just going to tell you to be careful - the people that we dealt with seemed to be a little tricky...which is why we didn't get the co-op there....and i was talking to my friend this weekend - seems they had similar trouble. but it's not the place you're looking, so no worries
anjerandunder
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which places were you or your friends looking at? tanglewood?
nov04LIbride
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Posted by anjerandunder
Just to let you all know that there are still co op's available in the complex that i'm buying. it is a transition from garden apartments to co ops. there is a workout room and laundry facilities and the last time i was there 1 bedrooms were going for 140,000. i think the maintanence is 700 including heat, water and taxes. 58 percent deductible. located in smithtown. they are huge units. fm me if you want more info.. we could have a liweddings complex..lol
We almost bought there! Honestly the reason we didn't was because our lawyer advised us against it after he saw how little $ the complex has in reserve finds--it is about 1/10 of what they should have given the size of the complex. If something ends up happening with water pipes or the roof, the monthly fees will drastically increase because of the lack of reserve funds (and there is no history to look at to see if there is a trend in fees increasing). Also the woman in the office was very unprofessional--she actually had us sign contracts for 5 different units, and then said whoever got the contract to their lawyer first would get it. The owner promised us our 2nd choice if we didn't get our first--then it turned out they promised it to other people too. They offered us a 2 bedroom for cheaper, and threw in free new appliances, but that wasn't what we wanted, and I thought it was almost illegal to promise the same unit to different people. Ugh, I had a bad experience with them tho--good luck!
anjerandunder
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i know what you mean..she actually gave us the same thing but we lucked out and actually got the unit we wanted. our lawyer explained all that to us but i think we are at the point where if we don't buy from her we won't be able to afford anything else..the price went up 30000 from march so we want to get it now. and the reason there is no history is because it was an apartment complex before without the maintanence fee so you can't see if it's been raised because it was never in effect..i'm sorry you had such a bad experience with it..hopefully it will work out for us.
palebride
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Posted by anjerandunder
which places were you or your friends looking at? tanglewood?
yes, that's where we were looking...the co-op we put a bid on was amazing - a fireplace, vaulted ceilings, looooooong hallway, tons of closets........sigh....we're better off - it was more money than we're paying now, and would have been too far for me to commute
anjerandunder
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we wanted to look at tanglewood but it was more expensive..that's why i like these because even though there is no history yet, they are cheap for what we are getting..
DjPiLL
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Man I would never touch a co-op that my lawyer said had a low reserve fund. Especially if its a new co-op and just starting out.
This co-op declared bankruptcy. All the owners lost everything. They were either given $30k to move out. Or they wouldn't get anything and they would be ALLOWED to rent their apartment at market value. Forget owning.
anjerandunder
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oh well that would be just my luck but we'll give it a shot...hopefully when enough people take the risk which she sold almost half by now then we will be situated and ready to go..i'll stay positive..
DjPiLL
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Yeah stay positive. I always said if my parent's apartment ever went co-op... i would jump right in to buy their place as an investment property. That would be a new co-op... but I would get a rock bottom price on it and just hope its run well.
She has a 3br apartment and those are very rare.
anjerandunder
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i'll say...we searched high and low for a 3 bedroom on the island..there are some in hauppauge but that is too far out for us being that his kids are in oyster bay..
DjPiLL
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3brs 2baths are going for 285k in my complex with about $1000 a month in maintenance. This is what I am going to compare to if my paren's place ever goes co-op.
azoodie
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where was that palebride??? i'm still looking!
Dee7772
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Posted by DjPiLL
3brs 2baths are going for 285k in my complex with about $1000 a month in maintenance. This is what I am going to compare to if my paren's place ever goes co-op.
What town are you living in?
vhollo01
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Holy crap... 285 for a co - op. Is that one in smithtown? Actually I'm in sticker shock a bit... but how could you go wrong with Smithtown.? Its a great area...
anjerandunder
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Posted by vhollo01
Holy crap... 285 for a co - op. Is that one in smithtown? Actually I'm in sticker shock a bit... but how could you go wrong with Smithtown.? Its a great area...
my thoughts exactely that's why we're buying there.. ours is not that price at all though..
palebride
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Posted by azoodie2
where was that palebride??? i'm still looking!
It was in Smithtown, the Tanglewood complex...the sellers screwed with us, and I think the co-op might still be for sale!! Look on MLSLI in SMithtown, and it might pop up.....it was very nice - just watch out for the sellers!!!
