Sponsor Owned Coops

When you’re browsing New York City real estate, sponsor-owned co-ops will likely show up during your search. Some people, especially those new to New York City, find co-ops intimidating. Because of their uncertainty, these people might miss out on some of the city’s best housing options.

When you partner with Asking Price Realty, you don’t need to avoid co-ops! Our agents are experts in sponsor-owned co-ops, and we’ll tell you everything you need to know to determine if co-op life is right for you.

Facts About Sponsor-Owned Co-Ops

When it comes to co-ops, take your advice from the experts. There are a lot of myths about co-op living that have been circulating for years. Here are three facts that might make you give New York City co-ops a second look:

• Co-ops are NOT tiny. Many co-op units are comparable in size to luxurious urban condos! You can certainly find a modest studio co-op, but you are just as likely to locate a three-bedroom unit with plenty of room to roam!
• Co-op rules are manageable for most residents. Sometimes co-ops get a bad rap for being strict, but their regulations are in place to ensure that the building remains peaceful.
• Monthly maintenance fees vary widely. If you’re looking for a building with minimal costs, select one with a solid financial history and fewer building amenities.

Sponsor-Owned Co-Op Benefits

As native New Yorkers know, there are several benefits to co-op living. Here are a few of the most popular:

• In many cases, co-ops are cheaper than other housing types.
• Many co-ops offer amenities, such as pools, parking or enhanced security, at an affordable rate.
• Co-ops offer a low-maintenance lifestyle.
• Even though co-op residents own shares instead of property, they still have access to many of the same tax benefits as traditional homeowners.

Contact Us Today!

If you’re interested in learning more about sponsor-owned co-ops, we can help! Contact Asking Price Realty today to explore the pros and cons of co-op living and determine if this housing option meets your needs.