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Buying a place on the Upper West Side. Advice?

Discussion in 'New York Tri-State' started by zjpj, Mar 9, 2004.

  1. zjpj

    zjpj F1 Veteran

    Nov 4, 2003
    5,938
    USA
    I'll be new to the City. Looking for a place near to the 1, 9. What are real estate agents like in the City? Anything to look out for? I like the charm of the pre-war buildings but the mod. cons of the newer buildings - should I lean one way or the other? Any other advice?
     
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  3. Texas Forever

    Texas Forever Four Time F1 World Champ
    Rossa Subscribed

    Apr 28, 2003
    44,826
    Texas!
    LOL, Zack, I suggest that you ask your dad. Although, if I was you, I'd think about buying in London and telecommutting to class. :)

    Dr "London" Tax
     
  4. mrp_e

    mrp_e Formula Junior

    Dec 19, 2003
    632
    NYC, BRK, PlmSprngs
    Full Name:
    Bill
    co-ops are generally more demanding. most pre-wars are co-ops. they can deman high down payments (min. usually 25%, in some cases more), and require an interview and complete financial records. condos are less cumbersome. my building, a condo on east 88th st., takes 10% down. and that doesn't mean it's a dump. dan akroyd lives here.

    biggest broker is corcoran. check out their website for a huge inventory.

    otherwise, it's pretty straight forward. values finally stopped growing at 5%+/month about 2 years ago, so now prices are just really expensive, vs. trully insane. general rule of thumb right now is about $600-700 per sq ft
     
  5. F SPIDER

    F SPIDER F1 Rookie
    Owner

    Jan 30, 2002
    2,873
    NYC, A'dam, W'stock
    Full Name:
    rijk rietveld
    zjpj,

    What are your needs and price range? There are some apartments available in our spectacular building.

    Rijk
     
  6. zjpj

    zjpj F1 Veteran

    Nov 4, 2003
    5,938
    USA
    Dr "Exeter sucks" Tax: The old man is completely gung ho. Wny rent when you can buy?

    mrp_e: I'll check corcoran, thanks. I don't much mind putting 50% down - I can just refinance it after purchase. I don't much like the sound of co-ops but I feel like most apartments are...

    rijk365gtb4: I'd say one bedroom, $400K, give or take.... Less would be great :)
     
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  8. robiferretti

    robiferretti F1 Rookie

    Oct 31, 2003
    3,252
    NYC area
    Full Name:
    rob ferretti
    advice= hoboken
     
  9. sagaponack

    sagaponack Formula Junior

    Nov 2, 2003
    519
    Full Name:
    Rob
    Old Buildings = Resale value, charm, roaches, crappy views, no services, Some smells, older tenants

    New Buildings = Views, Clean, services, no charm, younger tenants

    Buy Market= incredibly hot, Bidding wars galore, No inventory

    Rental Market=Lots of deals, quite soft

    Rob

    www.bridgehamptonmotoringclub.com

    The Finest Collector Car Storage Facility on the Planet
     
  10. Texas Forever

    Texas Forever Four Time F1 World Champ
    Rossa Subscribed

    Apr 28, 2003
    44,826
    Texas!
    So I guess this means that you are going to Columbia?

    Congrats!
     
  11. zjpj

    zjpj F1 Veteran

    Nov 4, 2003
    5,938
    USA
    I went to admitted students week last week - it was SO great. The students, the facilities, the faculty were all wonderful. (NYU was crap, incidentally.) Still waiting on the Crimson folk up north, but I think CLS is the best law school in the country (for me.)
     
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