Prospective Shareholders
Welcome to NaBors Apartments — a great place to live. We are a co-op in Inwood, Northern Manhattan. We are located within steps of Fort Tryon Park and the Cloisters and within walking distance of Inwood Hill Park, which has the only remaining natural forest in Manhattan.
Take the A-train uptown to see our affordable cooperative apartments, featuring low maintenance charges and wonderful amenities.
In this section of our Web site — created just for you — you will find practically everything you need to know to help you decide whether you would like to live here. If you don't find the information you're looking for, please send us your question, and we'll do our best to answer it.
So, click around and explore our co-op. Welcome!
About Us
NaBors Apartments — also known as Nagle Apartments Corp. — is a cooperative complex
that consists of three buildings connected by an inner, private garden/courtyard.
The buildings were erected in 1952. They are all six storeys tall, with a red
brick exterior and elevators.
We have a total of 111 apartments — studios, one-bedroom, and two-bedroom — in
a variety of configurations.
The sponsor is no longer in control of our buildings. The co-op took permanent
control in early 1997, after several years of litigation. (Read a history
of the litigation.)
At the moment, 94% of our apartments are "occupied" by shareholders
(from the point of view of financial institutions, co-op-owned apartments count
toward this magic number). The co-op bought the 12 remaining sponsor-owned
apartments in June 2002.
The current occupancy statistics (12/1/07) are as follows:
|
92 owner-occupied
|
83%
|
|
12 owned by the co-op
|
11%
|
|
7 owned by investors and/or sublet
|
6%
|
Just 10 years ago, only 38% of our apartments were owner-occupied, but we
have taken great strides in a relatively short period of time.
We are aiming for 100-percent owner occupancy because the presence of tenant-shareholders
in the building makes for a vital, exciting cooperative community, and a viable
investment. To reach our goal, we will continue to pressure investors to sell
their apartments to bona fide tenant-shareholders, and the co-op will sell
its 12 apartments (which are occupied by rent-stabilized tenants) to shareholders
as they become vacant.
We are in great legal and financial shape (check out our financial
statements), and because we are 94%-occupied by shareholders, prospective
shareholders should be able to get mortgages from any bank without difficulty.
And the National Cooperative Bank considers us a good investment.
Our co-op is maintained by a wonderful superintendent, porter, and painter/handyman.
Our management agency is Blue Woods Management Group, an exceptional company
based in Riverdale, just beyond the northern tip of Manhattan across the Harlem
River.
Take a look at some pictures from our co-op.
For more information, take a look at our Frequently Asked
Questions page. Or contact us, and we'll be
happy to answer any other questions you may have.
Amenities
We are proud of our buildings. Check us out and find out what makes us special:
- 94% owner-occupied (includes co-op–owned apts.)
- Financially sound
- Low maintenance charges
- Fitness room
- Laundry facilities
- Private garden
- Toddler playground
- Newly expanded community room
- Parking garage on the premises (10% discount for shareholders)
- Video security system
- Pets welcome!
- Storage lockers at low cost
- Bike storage racks
- Close to the A and No. 1 subway lines
- Close to three wonderful parks: Fort Tryon Park (The Cloisters), Inwood Hill Park, and Highbridge Park.
- Take a look at some pictures from our co-op
We are currently in the process of implementing other major renovations; among these are renovating the entrances and an energy
overhaul of our buildings,
including
installation of a new heating system and state-of-the-art, energy-efficient
windows. In the future, we are also
planning to renovate the private courtyard, install a sun deck and container garden on top of the garage roof, and install a dedicated connection to the Internet in order to provide
high-speed, wireless
Internet services to our residents at low cost.
Apartments for Sale
To view floor plans of apartments you’re interested in, click on
their respective numbers. To visit them, please get in touch with the
owners or their representatives listed below. NaBors Apartments boasts great amenities.
| 1L |
1 bedroom. $295,000. Monthly maintenance: $585.
Building: 31 Nagle Avenue.
Contact: TyLu Mosebach, tylutom[at]gmail.com, 212-567-4073.
Notes: Very quiet first-floor apartment. Faces courtyard. View
floor plan.
|
(List updated 21 March 2008.)
Note: When an apartment is labeled IN
CONTRACT,
it means that it is no longer available for sale.
Note to shareholders: If you’re planning to sell your apartment,
read about the procedure in the Co-op
Handbook, and when you’re ready, you’re welcome to list it
for sale on this Web page by filling out the Apartment
Listing Form.
Mailing List
To receive announcements of apartments that become available for sale in our co-op, subscribe to our e-mail list. The list is completely confidential — your e-mail address will not be given out to others.
Apartment Floor Plans
NaBors Apartments consists of three buildings with six floors each. Each floor
in 31 and 37 Nagle Avenue has six apartments (except the first floor of 31
Nagle, which has only three). Each floor in 14 Bogardus Place has seven apartments.
It adds up to a total of 111 apartments with 19 different layouts.
Click on the apartment images below to see larger versions of the apartment
layouts. (Drawings courtesy of former co-op member D.J. Squibbs.)
FAQ
What is a co-op? How does it differ from a condo?
How are the shares in the co-op corporation allocated
to each apartment?
I’m interested in one of the apartments listed on your
website. Can I make an appointment to see it? How do I go about purchasing
shares in the co-op?
At the moment I’m not interested in buying
any of the apartments you have listed, but would you let
me know when new apartments become available for sale?
Do you have any apartments for rent in your co-op?
What is included in the monthly maintenance
fee of an apartment?
Is the co-op planning any major repairs or renovations
in the near future? How will they be paid for?
Can I take a look at your rules and regulations
and any financial information about the co-op?
Is there a fact sheet with all the relevant information
that I can give to my attorney to evaluate?
Do you allow pets?
Is there a parking garage in the buildings?
What is a co-op? How does it differ from a condo?
When you buy a house or a condominium, you are getting real property. When
you buy a co-op apartment you are not actually purchasing the physical apartment.
You’re buying shares in the cooperative corporation that owns the
building in which the apartment is located. You will own the number of shares
allocated to that apartment. Instead of the deed you receive when you buy a
house or a condo, with a co-op you get a stock certificate and a proprietary
lease. The lease spells out the rights and obligations of the co-op and
the shareholder for the use and occupancy of the apartment. The shareholder
becomes part owner of the building and has a proprietary lease for a specific
apartment. A more detailed explanation of what a co-op is and the benefits
of living in one is available on the website of the National
Association of Housing Cooperatives. There are also several
books that can teach you practically everything you need to know about
how to buy shares in a co-op and how to live and thrive as a co-operator.
(back to top)
How are the shares in the co-op corporation allocated to each apartment?
The shares were allocated when our buildings were converted to a co-op back
in 1982. The number of shares allocated to each apartment depends on its size
and location within the buildings: larger apartments and apartments in higher
floors are considered more “desirable,” so they were allocated comparatively
higher numbers of shares. The co-op corporation has a total of 12,120 shares
allocated among 111 apartments as follows:
| |
2-bedroom
|
Larger
1-bedroom
(W line)
|
Standard
1-bedroom
|
Smaller
1-bedroom
(R line)
|
Studio
|
|
Floors 1 & 2
|
130
|
105
|
100
|
85
|
55
|
|
Floors 3 & 4
|
135
|
110
|
105
|
90
|
60
|
|
Floors 5 & 6
|
140
|
115
|
110
|
95
|
65
|
The number of shares determines the voting power of the shareholder as well
as the proportionate share of the operating expenses of the co-op that will
be charged to the shareholder (the maintenance fee).
(back to top)
I’m interested in one of the apartments listed on your web site. Can
I make an appointment to see it? How do I go about purchasing shares in the
co-op?
The process can be distilled pretty much as follows:
-
Contact the owner of the apartment you’re interested in or the owner’s
representative. Their names and phone numbers or e-mail addresses are listed
on the apartments available for sale page.
-
Visit the apartment and check it out carefully.
-
Ask questions about the apartment and the co-op and determine whether
the co-op community would be a good fit.
-
If you decide to buy the apartment, make an offer to the owner.
-
If the owner accepts your offer, then you can start making formal arrangements
to purchase.
-
Get a real estate lawyer to handle all the paperwork and protect your
interests (highly recommended).
-
Shop for and apply for a mortgage with a financial institution.
-
Fill out the application material, which includes a copy of the Proprietary
Lease. (This material will be forwarded to you by the owner from the co-op.)
-
Once all the paperwork is ready, including the mortgage commitment letter
from the financial institution, submit it to the co-op’s managing
agent.
-
The co-op Board will review the application material and invite you for
an interview.
-
The co-op Board decides whether to approve the sale.
-
If the co-op Board approves, then the closing can be scheduled.
-
After you close, the shares in the co-op corporation are yours and you
can move in.
For more information, see the Cocoran Group's Buyer's Guide and Checklist and Timeline for Purchasing. Read also The
Purchasing Journey: An Overview of the Home Buying Process, an article
in The Cooperator.
(back to top)
At the moment I’m not interested in buying any of the apartments
you have listed, but would you let me know when new apartments become available
for sale?
You can subscribe to our mailing list. We will inform you as apartments are
added to the list of apartments available for sale.
Our e-mail list is completely confidential.
(back to top)
Do you have any apartments for rent in your co-op?
Unfortunately, the co-op (and the co-op’s web site) does not keep track
of sublets or rentals while
they’re being advertised for rent. Sublets and rentals are usually listed
by the owners with rental or real estate agencies. The co-op Board gets involved
only at the end of the process, when a shareholder seeks approval for a sublessee
or tenant.
You should be aware that our co-op is trying to encourage purchases rather
than rentals. In the past 10 years — since the sponsor gave up control
of the co-op to the shareholders — we have increased the proportion of shareholder-occupants
from 38% to 94% (this number includes co-op-owned apartments, which financial
institutions count as “occupied by shareholders”). The co-op bought
the 12 remaining sponsor-owned apartments in June 2002.
The current occupancy statistics (12/1/07) are as follows:
|
Unit Breakdown
|
14 Bogardus
|
31 Nagle
|
37 Nagle
|
Total
|
%
|
|
Owner-occupied
|
31
|
30
|
31
|
92
|
82.8%
|
|
Co-op-owned
|
7
|
2
|
3
|
12
|
10.8%
|
|
Investor/Sublet
|
4
|
1
|
2
|
7
|
6.3%
|
|
Sponsor-owned
|
0
|
0
|
0
|
0
|
0.0%
|
|
Total
|
42
|
33
|
36
|
111
|
100%
|
We are aiming for an even higher proportion of owner-occupants — we dream
of 100%. Owners tend to care more about the welfare of the buildings and their
neighbors than do renters, and the presence of tenant-shareholders in the building
make for a vital, exciting cooperative community, and a viable investment.
To reach this goal, we will continue to pressure investors to sell their apartments
to bona fide tenant-shareholders, and the co-op will sell its 12 apartments
(which are currently occupied by rent-stabilized tenants) to shareholders as
they become vacant.
(back to top)
What is included in the monthly maintenance fee of an apartment?
The maintenance fee for an apartment is the apartment shareholder’s share
of the costs associated with the upkeep of the buildings. These charges include
payments on the buildings’ underlying mortgage, real estate taxes, water
and sewer fees, heating fuel costs, utilities for the common areas, salaries
for building employees, insurance, and other expenses of operating the co-op.
(The portion of the maintenance fee that constitutes the shareholder's portion
of the underlying mortgage interest payments and real estate taxes can be declared
as a tax deduction on IRS Form
1040.) The maintenance fee is calculated proportionately according to the number
of shares allocated to each apartment, and it applies whether the apartment
is occupied or not. The current monthly maintenance fee schedule is as follows
($5.85 per share per month as of 1/1/08):
| |
2-bedroom
|
Larger
1-bedroom
(W line)
|
Standard
1-bedroom
|
Smaller
1-bedroom
(R line)
|
Studio
|
|
Floors 1 & 2
|
$760.50 |
$614.25 |
$585.00 |
$497.25 |
$321.75 |
|
Floors 3 & 4
|
$789.75 |
$643.50 |
$614.25 |
$526.50 |
$351.00 |
|
Floors 5 & 6
|
$819.00 |
$672.75 |
$643.50 |
$555.75 |
$380.25 |
(back to top)
Is the co-op planning any major repairs or renovations in the near future?
How will they be paid for?
Capital improvements currently being implemented include:
-
Revamping and landscaping of the entrances.
-
Energy overhaul and installation of state-of-the-art, energy-efficient
windows.
We plan to pay for these improvements with an up-front payment we received
for our new garage lease ($120,000), additional rent from the garage (approximately
an extra $90,000 per year), sales of 12 co-op-owned apartments as
they become vacant (although it’s impossible to predict when this will
happen), and loans.
Other ideas that we are contemplating include installing a high-speed, wireless Internet
line for all apartments, new landscaping of our courtyards/gardens and a sundeck and container garden on the garage roof. These are our best
estimates at the current time.
(back to top)
Can I take a look at your rules and regulations and any financial information
about the co-op?
The following legal and financial documents about the co-op are available
on our web site: the Proprietary Lease, the House Rules, the Co-op
Handbook, and audited financial statements for the past three years. It
is recommended that you hire a real estate lawyer to help you evaluate these
documents. A good lawyer can help protect your interests in
a real estate transaction.
(back to top)
Is there a fact sheet with all the relevant information that I can give
to my attorney to evaluate?
Yes, there is. Click here to view it and print
it out. You should also give your attorney copies of the following documents:
the Proprietary Lease
and audited financial statements for the past
three years.
(back to top)
Do you allow pets?
Yes, we welcome pets, so long as they are not a nuisance and do not create
noise, hygiene, or pest concerns for other residents of the co-op. The “Pets” entry
in our Co-op Handbook has more details.
(back to top)
Is there a parking garage in the buildings?
Yes, there is a garage in one of our three buildings: 31 Nagle Avenue. The garage is leased by an independent garage operator. Shareholders receive a discount of 10 percent on the monthly rates. In addition, residents are entitled to the Manhattan Resident Parking Tax Exemption; the application form for the exemption is available on the web site of the NYC
Department of Finance.
(back to top)
Fact Sheet
Last updated: 18 January 2008
NOTE: This fact sheet is for information purposes only and does not
constitute a representation, warranty or estoppel on the part of Nagle Apartments
Corp. or any of its officers or agents. This information is subject to change.
Building Type: Cooperative
Corporation Name: Nagle Apartments Corp.
Building address: Three buildings:
(1) 31 Nagle Avenue, New York, NY 10040
(2) 37 Nagle Avenue, New York, NY 10040
(3) 14 Bogardus Place, New York, NY 10040
Property Manager: Justin Verret
Blue Woods Management Group, Inc.
5701 Arlington Avenue
Riverdale, NY 10471
Tel: 718-549-7036
Fax: 718-549-7076
EM: manager(at)naborsapts(dot)org
Transfer Agent: Arlene Marin
(for all sublet, refinance, resale questions and packages)
Blue Woods Management Group, Inc.
307 Seventh Avenue
Suite 603
New York, NY 10001
Tel: 212-645-7333
Date Built: 1952
Co-op Conversion Date: 1982
Expiration Date of Proprietary Lease: 30 September 2080.
Is there a ground lease? No.
Number of Storeys: Each building has 6 storeys.
Total Number of Units: 111
Unit Breakdown
(as of 12/1/07)
|
14 Bogardus
|
31 Nagle
|
37 Nagle
|
Total
|
%
|
|
Owner-occupied
|
31
|
30
|
31
|
92
|
82.8%
|
|
Co-op-owned
|
7
|
2
|
3
|
12
|
10.8%
|
|
Investor/Sublet
|
4
|
1
|
2
|
7
|
6.3%
|
|
Sponsor-owned
|
0
|
0
|
0
|
0
|
0.0%
|
|
Total
|
42
|
33
|
36
|
111
|
100%
|
Mortgage (established 4/16/03):
Amount: $2,700,000. Term: 20 years.
Interest rate: 6.27% per annum
Monthly payment: $19,766 (includes interest and reduction of principal)
Payable to: National Cooperative Bank (NCB)
Maturation date: 1 May 2023
Note: This is a self-liquidating
mortgage on a 20-year amortization schedule. The mortgage will be completely
paid
off
on
the maturation
date of 1 May 2023.
Windows Replacement Project Loan (established 11/26/07):
Amount: $1,150,000. Term: 10 years.
Interest rate: Tranche A ($565,000), 1% per annum (NYSERDA);
Tranche B ($585,000), 7.5% per annum.
Monthly payment: $11,847
Payable to: Amalgamated Bank
Note: The proceeds of this loan ($1,081,856) have been deposited in the capital reserve fund (see below) and will be used to finance the windows replacement project.
Revolving Line of Credit:
Credit limit: $250,000
Balance: $0 (as of 12/1/07)
Interest rate: 2% over the NCB Base Rate Index
Payable to: National Cooperative Bank
Maturation date: 1 May 2023
Reserve Funds: $1.3 million (as of 12/1/07) — includes $1,081,856 proceeds from the Windows Project Loan (see above).
Maximum Financing Allowed:
New purchase: 90% of purchase price
Refinancing: 80% of appraised value
Flip Tax: None.
Resale Application Fees: $300 payable to management company; $75 payable to Nagle Apartments Corp.
Refinancing Fees: $250 payable to management company; $75 payable to Nagle Apartments Corp.
Credit Check Fee: $75
Tax deductibility (2007 tax year):
Mortgage Interest = $11.7113 per share
Real Estate Tax = $13.4198 per share
Thus, 37.4% of 2007 maintenance charges is tax deductible.
Maintenance: $5.85 per share per month (effective 1 January 2008).
Late Fee: $0.75 per share if payment is not received within
the grace period (by the 16th day of the month). An additional late fee of $1 per share is charged if the account is still past due on the last day of the month.
Electricity included in maintenance? The monthly maintenance fee does
not include electricity. Electricity usage is added to the maintenance
bill as a separate charge.
Current Assessments: None.
Subleasing: Permitted for a cumulative maximum of 2 years out of every
6-year period. For more information, see the Sublet
Policy.
Subleasing Fee: $25 per share per year, prorated for subleases that
are shorter than one year in length. For more information, see the Sublet Policy.
Access to the Board minutes? Yes. Contact the managing agent.
Open houses permitted? Open houses are permitted only with the prior
consent of the Board of Directors, via the managing agent.
Doorman? No.
Fitness Room: Available to shareholders only. Monthly fee
is $20 per month per household, included in the maintenance bill.
Storage lockers: Lockers rented at $20 per month, included in the maintenance
bill. Available to shareholders only via a waiting list, on a first-come, first-served
basis. (All lockers are currently rented.)
Bicycle Storage: Spaces available for rent at $5 per month,
included in the maintenance bill. Available to shareholders only on a first-come,
first-served basis.
Garage: Available at street level in 31 Nagle. The space is rented
to an independent garage operator. Residents get a 10% discount off the monthly
rates.
Washer/dryer permitted in apartment? No, they are not permitted. There
are convenient laundry facilities in
the basements of the buildings.
Wall-thru A/C permitted? No. Only casement-type air conditioners are
permitted. A/C installation permitted only with prior approval of the board
of directors, via the managing agent. Read more.
Allow Pets? Yes. Pets are permitted only if they do not create
a nuisance. Dogs must be licensed by the New York City Department of Health.
Cats must be spayed or neutered and must have received all customary immunizations.
Read more.
Move-in fee: $250 fee to help defray costs of extra cleanup work on
the part of the superintendent and porter, plus a $250 refundable deposit in
case of damage.
Move-out fee: $250 fee to help defray costs of extra cleanup work on
the part of the superintendent and porter, plus a $250 refundable deposit in
case of damage.
Financing
To assist you in figuring how affordable NaBors Apartments are, we provide the following mortgage calculator. It can be used to calculate monthly payments of a home mortgage loan, based on the home's sale price, the term of the loan desired, buyer's down payment percentage, and the loan's interest rate. This calculator factors in PMI (Private Mortgage Insurance) for loans where less than 20% is put as a down payment.
Key Documents
The following legal and financial documents can help you evaluate and decide
whether you would like to become a shareholder in our co-op.
Our financial statements can tell you about how well our co-op is
doing financially. Our latest three financial statements are available here
in PDF format (to view them, you must have Adobe
Acrobat Reader installed on your computer):
The Proprietary Lease is the legal document that delineates the rights and responsibilities
of the shareholder and the co-op toward each other. Read it to find out the
terms you will agree to if you decide to become a shareholder.
The House Rules document forms an integral
part of the Proprietary Lease. It focuses on shareholders' rights and
responsibilities toward one another and aims to preserve a high quality of
life for all our residents.
Finally, the Co-op Handbook compiles,
in an easy-to-use format, answers to the most common questions residents and/or
shareholders might have about living in NaBors Apartments.
Map & Directions
31 & 37 Nagle Avenue
14 Bogardus Place
New York, New York 10040
A bird’s-eye view . . .
We’re located amidst 620 acres’ worth of parkland
. . .
You can reach us by highway:
- Drive north on the West Side Highway to the Dyckman Street Exit, turn
right on Broadway and drive south for a few blocks, then turn left on Nagle Avenue when you see Rancho Jubilee Restaurant. We’re located
halfway up the block on the right-hand side.
- Drive north on the FDR Drive to the Dyckman Street Exit, turn left on
Nagle Avenue. We’re located about four blocks down on the left-hand
side of the street.
You can reach us by subway:
- Take the A-train (it’s express till 11pm) uptown to the 190th Street/Cloisters
stop. Walk down the tunnel to the Bennet Avenue exit doors. Turn left on
Bennet Avenue and walk down the hill to the intersection. Nagle Avenue
is the diagonal street that bears left. Cross the street and walk up Nagle
Avenue half a block. We’re on the right-hand sidewalk.
- Take the No. 1 train (unfortunately, it’s always local) uptown to
the Dyckman Street stop. The exit is at the intersection of Dyckman Street
and Nagle Avenue. Walk about four blocks down Nagle until you reach our
buildings on the left-hand sidewalk.
“We don’t care how you get here,
Just get here if you can.”
NaBors in the News
NaBors Apartments has been featured in stories in the news media — read them here. Also listed here are stories and websites about our residents and neighborhood.
Articles About NaBors Apartments
Stepping Up to the Plate.
When a Manhattan co-op faced foreclosure, one woman made a difference. Habitat,
January 2002.
Rita Henley Jensen Wins Habitat
Management Achievement Award, Habitat, November 2001.
Neighborhood Profiles
Uptown
Moving Upscale, The New York Times, March 28, 2004.
Inwood:
Away From Manhattan Without Leaving, The New York Times, December 15,
2002. Five of our tenant-shareholders are mentioned in the article!
Close
Up On: Inwood, The Village Voice, October 14, 2002.
Washington
Heights Is at Its Height: A Neighborhood on the Rise, The Cooperator,
October 2001.
Washington
Heights: New Hopes in a Patchwork Neighborhood, The New York Times, December
27, 1998.
Inwood:
Life on the Northern Tip of Manhattan, The New York Times, January 22,
1995.
Recommended Reading
Before you decide to purchase a co-op apartment in our buildings, read up
about it. Republic National Bank’s Co-op
Guide and Attorney General Eliot Spitzer’s Before
You Buy a Co-op or Condo provide basic information on what to keep in mind
during the process. Read also The
Purchasing Journey: An Overview of the Home Buying Process, an article
in The Cooperator. Finally, Realty
Times has a lot of great articles for prospective homebuyers.
The following books can teach you practically everything you need to know
about how to buy shares in a co-op and how to live and thrive as a co-operator.
The Co-Op Bible: Everything You Need to Know About Co-Ops and Condos: Getting
In, Staying In, Surviving, Thriving, by Sylvia Shapiro (price
comparison). Sylvia Shapiro, a lawyer and board president of a major Manhattan apartment
building, has written what will become required reading for anyone buying or
selling an apartment, or curious about entering the fray of the co-op and condo
market. Shapiro answers all the questions apartment dwellers are afraid of
asking the board, broker, lawyer, or accountant—and she does so without
talking down or a steep hourly fee. Included are such topics as: Is the building
right for you? How can you make the approval process go as smoothly as possible?
The Ultimate Guide to Buying and Selling Coops and Condos in New York City,
by Neil Binder (price
comparison). Real Estate expert, Neil Binder, offers the newest A to Z techniques and strategies
for buying and selling cooperative apartments and condominiums in the hottest
real estate market in the world. The book has cutting-edge, insider information
and is an indispensable guide for buying or selling in today’s changing
economy. It includes worksheets and financial and legal tips to help consumers
find their best options. This book is a must-have for anyone looking to buy,
sell, or relocate in Manhattan in today’s market.
The Condo and Co-Op Handbook: A Comprehensive Guide to Buying and Owning
a Condo or Co-Op, by R. Dodge Woodson (price
comparison). Condos and co-ops are very similar in many ways, but they differ greatly in
others. In this step-by-step guide, Roger Woodson provides readers with all
they need to know when purchasing a condo or co-op and how to get the most
out of their investment. Topics include: tax and legal issues affecting ownership;
the pros and cons of condos versus co-ops; inspecting, evaluating, and rating
potential purchases; working with brokers, developers, and private owners;
negotiating and contracting the purchase; financing factors; investment potentials;
and more.
Co-Op and Condo Ownership: The Complete Guide for Apartment Buyers, Owners
and Boards, edited by Vicki Chesler (price
comparison). Now in its second printing, this straightforward, easy-to-read reference book
is packed with timely, practical information for anyone involved in co-op and
condo ownership, from the first-time buyer to the veteran board president to
the professional managing agent. This invaluable guide covers all aspects of
ownership, from co-op and condo law to building maintenance to board operations
to rights and responsibilities of shareholders to maximizing the value of your
apartment when it comes time to sell. Appendices include a glossary of terms
and a reference guide listing the more than 150 professionals mentioned in
the book. The list includes attorneys, accountants, insurance brokers, educational
organizations and much more, complete with addresses, phone numbers and contact
names.
How to Buy a House, Condo, or Co-Op, by Michael C. Thomsett (price
comparison). Written for the first- or second-time homebuyer, this comprehensive and easy-to-understand
book provides readers with all the information necessary to look for, negotiate,
and successfully close on a home. Includes information on the buying process,
insurance, mortgages, improvements, taxes and other ways to own a home.
Tips & Traps When Buying A Condo, Co-op, or Townhouse, by Robert
Irwin (price
comparison). One third of all homes sold today are condos, co-ops, or townhouses. Irwin
shows what to watch for when buying one of them. These “shared ownership” options
have unique pluses and minuses. The book is packed with targeted, reader-friendly
advice. He shows prospective buyers how to decide if shared ownership is right
for them; read between the lines of bylaws; deal with homeowners associations;
check out the seven warning signs of big trouble; handle disclosures and inspections;
and much more.
Keys to Purchasing a Condo or Co-Op (Barron’s Business Keys),
by Jack P. Friedman and Jack C. Harris (price
comparison). The authors explain the difference between condos and co-ops, and help readers
decide which is best, depending on one’s personal circumstances. Barron’s
easy-to-understand Business Keys take the mystery out of finance and investment
for ordinary consumers.
