Co-op of the Day: 16 Lincoln Place
The asking price on this third-floor 2 1/2 bedroom co-op at 16 Lincoln Place in Park Slope was just trimmed from $615,000 to $599,000. The apartment next door, which is of a similar size but probably not identical layout, sold for $615,000 back in September of 2006 so this has to be in the right…
The asking price on this third-floor 2 1/2 bedroom co-op at 16 Lincoln Place in Park Slope was just trimmed from $615,000 to $599,000. The apartment next door, which is of a similar size but probably not identical layout, sold for $615,000 back in September of 2006 so this has to be in the right ballpark. The apartment is pretty non-descript, though we suspect most potential buyers will at least think about tweaking the bathroom and kitchen. The maintenance is a reasonable $611 per month. We suspect a deal will get done pretty quickly at the new price. Agree?
16 Lincoln Place [Corcoran] GMAP
This place and places like it will be had for a FRACTION of this price, when the shirt hits the fan in the next year, and prices get their arses kicked!
This RE hype makes me sick!
There should be no shame involved either way.
Finances do not make a person.
That’s my point. Sure…to pass a co-op you need to show a certain financial stability, but once you move into said co-op, the financial conditions are not what has created friendships among neighbors. Nor is it what has created a really incredible sense of pride all of us take in our building and neighborhood. It’s the person.
Some on here seem to think that their financial situation IS who they are thus feel uncomfortable in a co-op situation.
I do not agree.
Your wanting your neighbors to know about your finances makes you a little different from most, I’d guess.
The junk mail situation is more anonymous.
Perhaps you don’t mind because you handle your finances well, so there is no shame involved.
My point is that I do not understand the issue with people knowing your finances.
Half the world knows your finances.
How do you think you receive all of the tailor made spam and junk mail with credit card offers etc?
You are naive if you don’t think this information is already out there.
Personally I’d rather have my neighbors know than a total stranger using it to sell me stuff through the internet.
11:00 AM,
What are you talking about?
Of course you were only approved because of the money in your account. I have no money, I’m a musician and I’m nice. Would they approve me too?
75% of homeowners in New York City live in co-ops.
Clearly those who despise co-ops are in the minority.
I’ve had no problems with my neighbors knowing my financial situation. My live does not revolve around money. My neighbors know me as a musician, our gardener and hopefully a nice guy.
Not as someone with $ xxxxx in his checking account.
Sounds like that’s all some of you really care about though.
You reveal all the same stuf to your mortgage brokers when you apply for loans. The people in the coop live with you afterwards, and probably aren’t going to steal your checking acct.
Exactly 1 a.m. Does no one else see an issue with revealing every detail of your financial life, your income, assets, liabilities, to a group of absolute and total strangers? Is privacy just not valued? Based on my income and assets, I’m sure I would be accepted by a co-op board. But I’m not in the market for this type of living arrangement because I have no interest in undressing in front of my neighbors. Also, my husband was recently the victim of identity theft, which makes the issue all too concrete and tangible. Money was withdrawn from his account, credit cards and e-trade accounts were opened. I’m much more careful now. It can happen to anyone.
3:08 “Not sure they are afraid to go through the board per se, they usually just don’t have the financial credentials to be accepted by the board.”
Wanting to buy a condo doesn’t always have to do with the lack of financial credentials.
In this age of identity theft, co-op boards acting like the popular clique (they can deny buyers for whatever reason but don’t have to tell them what that reason is) and all your neighbors knowing ALL of your business, I still can’t figure out why some people want co-ops.