TheFaustianMan

TheFaustianMan t1_j0uo5v5 wrote

I bought a coopshares because the price was far more affordable than “high end” condos that have no regulatory oversight on building fees, and are overpriced for what you get. My friend moved into one for a fortune only to find out she doesn’t have a doorman! Because the management company held a vote and most people didn’t vote because they were subleasing. I know it’s not a popular view, but vetting people to make sure they can afford shares and aren’t going to rent it for exorbitant rents, have foreigners buy it and use it as an “investment” while it falls into disrepair, sits empty and you can’t sue the owner because their in China for damages (broken pipes) is one of the advantages of a coop board. I don’t live in a super high end coop, but they’re not changing and still have to most desirable addresses in Manhattan.

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