HDFC's have been touted the best deal in Manhattan real estate, in a traditionally not very affordable housing market. It's true. Take a look http://ezinearticles.com/?HDFC-Coops---The-Best-Deal-in-New-York-City-Real-Estate?&id=2267922. Maybe you have never even considered BUYING instead of RENTING in a place where demand always excees supply, maybe you thought prices and maintenance charges were astronomical.
Well, I am here to tell you, it isn't so! Not only are prices and maintenance fees low and affordable in HDFC's but your purchasing power is greatly enhanced with low interest rates. And there is Down Payment Assistance available to help with the upfront money you will need.
Let's take a look at the facts:
$1190 is the average price sq ft for Manhattan co-op's/condos.
$484 is the average price sq ft for $242,000 for 242 W 112th Co-op. Less than HALF the average!
But what about astronomical maintenance fees?
$1.76 is average price sq ft for Manhattan co-op's/condos in 2010 (1 YR AGO)
$0.61 is average price sq ft for this co-op sale, OVER $1 LESS THAN THE AVERAGE!
Many similar sized Co-op's in the surrounding area ae $400-900/monthly!
$307/Monthly Maintenance is Unbeatable!
So what are you waiting for, jump on the homeownership train! And if you aren't ready to buy yourself, refer someone and get a little cash reward. I will even sweeten it with some homemade cookies! Just sayin'!
Time to take the challenge!
Saturday, September 10, 2011
Monday, August 29, 2011
The Challenge is ON!
Find a qualified buyer for 242 W 112th St (HDFC Co-op) and you get $1000 at closing.
The Beatles sang it "I get by with a little help from my friends."
And so I am asking for a little help from my friends, some help in finding the right buyer for a ridiculously affordable Manhattan Co-op.
That's it. No gimmicks, no loop holes, no caveats, nothing to buy, nothing to lose. If you can find a qualified buyer for a ridiculously affordable Manhattan apartment, I give you $1000 for your benevolence in this quest. I don't care if the buyer is you, your hair dresser, your roommate, your dog walker, your ex, as long as they qualify to purchase an HDFC co-op and sign the papers the $ is yours.
Asking: $242,000 for 242 W 112th (Monthly Maintenance $307)
Located just two short blocks from Central Park, borders Morningside Heights, UWS, and steps from Columbia.
Spacious studio with high ceilings, warm hardwood floors, lots of light & windows. Approx 500 sq ft. Spacious closet space, separate eat in kitchen, large enough to divide the space for bedroom or office from living space. Washer/Dryer in building. Fully furnished (if you want it to be)!
Only $307 for maintenance, I promise you will not find a lower maintenance for a Co-op in town!
Qualifications for an HDFC CO-OP:
- 10% minimum down payment
- Income not to exceed $96,240 for 1 person, $113,563 for 2 persons
- Owner Occupied with desire to stay long term (5+ years)
- Max of 18 months unit can be rented in 5 yr period of ownership
- Understand 30% flip tax on the sale of the unit
- Approval of Co-op Board
For more info on HDFC properties visit here.
Interested buyers only, no investors, no brokers please.
Viewings available Tues & Wed eve 7-9pm, Sat 10am-12.
Please contact me at yogacookie@gmail.com or 801.809.2120.
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