Thursday, February 16, 2012

1920s Apartment

1920s Apartment by susanvg
1920s Apartment, a photo by susanvg on Flickr.
As I continue my hunt for an apartment to buy, I keep this building in mind. This venerable apartment building was aging and no one seemed to notice. Suddenly the board realized that extensive repairs were needed and the contingency fund had been under funded for years resulting in large assessments for all the owners. You can read about it here.

We'll be checking out the financials of any building in which we choose to buy. I don't want surprises like that.

3 comments:

  1. Smart of you to check the financials...and sad that the building is in dire straits, because it looks like a classic.

    ReplyDelete
  2. So much to consider. Decisions and things to make sure of. Hope your transition goes as smoothly as it can.

    ReplyDelete
  3. That looks like a great building, but I agree. I have friends who bought into a building that subsequently had extensive stucco repair. The former owners were required by law to divulge but didn't. It required a lawsuit - not fun!

    ReplyDelete