Co-ops

[aceofclubs26]

The other advantage of coops, that hasn't been mentioned, is that they tend to be owner-occupied, since the boards usually restrict rentals, while codos tend to attract a fair amount of investment property deals, hence more rental tenants.

Not always the case. Many....okay maybe not many...but enough buildings still have a significant amount of sponsor owned units. Matter of fact...even before lender's tightening up on mortgages, it was sometimes hard to get a good mortgage in a co-op building that was less than 50% owner occupied. Lenders would be a lot more lax on a condo that had a similar owner occupancy.

 

[tomjohnson]

I own me a coop in queens and its value is already doubled from what I bought it. I think that the maintenance is decent compared to anywhere else I've seen in NYC or queens.