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Originally Posted by al_bundy
where is this? most of the red bricks are around 85 units so if this was in rego park or forest hills i'd probably know a 96 unit building
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This is in Jackson Heights (87st). How often do co-ops go belly up? I'd would imagine that it must be a very rare event, since I'd assume that most of the owners would rather increase the manintenance fee than to loose everything.
One thing that got me confused was that Bank Of America has approved this co-op. Now, why would this major bank be willing to lend me money (at 6% fixed) if this co-op is at any resk of default. I mean, the bank would loose their loan too.
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