New York City is one of the most exciting cities in the world. And one of the most popular of New York’s five boroughs is Queens. Queens boasts a multitude of different neighborhoods, each with its own distinct personality and style. Transportation in Queens is incredibly convenient. Several subway lines and the Long Island Railroad crisscross the borough, as do several major highways. Commute time to Manhattan from most neighborhoods in Queens ranges from five to 45 minutes. Two of the most popular types of real estate in Queens are condominiums and co-ops. Both offer homeowners a private residence within a larger development. Both also require homeowners to pay a monthly fee to maintain the exterior of the building and the common areas within the development. The difference between condos and co-ops is the type of ownership they offer. Condo buyers own their unit. They can sell it to any qualified buyer whenever they like. Co-op buyers own stock in the company that owns the building. Their shares allow them to occupy their unit. When co-op owners want to sell, the co-op board must approve the new buyer. Condos offer homeowners greater freedom to sell, while co-ops tend to be far more affordable. In fact, for people who have a preconception that New York is unaffordable, the co-ops in Queens defy conventional wisdom. In neighborhoods like Rockaway Park, studio units in a co-op can sometimes be purchased for less than $100K. Even in more affluent neighborhoods like Forest Hills, studio units in co-ops can often be purchased for less than $150K. For buyers seeking luxury, Queens is home to some of the most desirable condominium real estate in New York. Whether it's a high-rise condo in Astoria with views of the Manhattan skyline, or a Mid-Century unit on a tree-lined street in Kew Gardens, Queens offers a huge range of high-end options for those desiring the lock-and-leave lifestyle. Are you considering buying or selling a condo or a co-op in Queens? If so, call us! Asking Price Realty is the expert on listing and selling Queens real estate. If you're buying, one of our expert agents can help you narrow down your search. If you have property in Queens you're considering selling, as experts on the different communities in Queens we'll price your property perfectly and prepare it for the market so you can find the perfect buyer quickly.
To get Pre-Approved for a Coop or Condo Mortgage call (718) 520-4000 or visit MortgageDepot.com