Philip Howard Apartments

Does anyone own or know anything about the Philip Howard Apartments? I have been looking at a few units in the building and would love to hear peoples opinions on it. Thanks!

pacha25

in Co-Op Related 11 years and 7 months ago

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ombuilder | 11 years and 7 months ago

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tjbk | 11 years and 7 months ago

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Pacha25, I would seriously take a look at the co-op’s financials and the length of time a lot of the units have been on the market before making an offer. Most of the recent sales were all cash deals which did not require financing. I was in contract on an apt in the Philip Howard Apartments for 4 months from 2/2013 – 5/2013 when the interest rates were in the low 3.25% rates and could not receive a mortgage commitment form HSBC, Chase and Bank of America due to the management office making multiple mistakes on the co-op questionnaire we paid $200 for them to complete. Our attorney gave us the best advice which led us to walk away from the deal – “If it is this hard for you to purchase today, how hard will it be for you to sell one day in the future?” The revised financials for 2012 might be out by now, I strongly suggest reviewing the financials and co-op questionnaire before you money doing an inspection, mortgage application and attorneys fee.

joearchitect | 11 years and 7 months ago

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If the location works for you there are some great deals and I would do it. I looked at an apartment in that building with a client and the building seemed to be pretty well managed, the apartments are pretty spacious, with good light and amazing views. The apartment we looked at needed an updated kitchen and bathrooms, but it was still a great deal, and I think the building will only improve over time.