On Dec 10, 5:43*pm, "charlie" wrote:
Jim Elbrecht wrote:
On Thu, 10 Dec 2009 14:12:19 -0600, "HeyBub"
wrote:

"[NEW YORK] Zaarath and Christopher Prokop -- and their two cats --
live in the smallest apartment in the city, a 175-square-foot
"microstudio" in Morningside Heights the couple bought three months
ago for $150,000 [$857/sq ft]."

With pic and detailed floor plan
http://www.nypost.com/p/news/local/m..._couple_makes_....

So they live in a 'house' that is smaller than either one of my
'garden sheds'. * But. . . * upper Manhattan for $150K ain't bad.
People pay a lot more than that for a parking space.

"The couple will pay off their mortgage in two years, *. . . . They
will then be saddled only with their maintenance fee, which is just
over $700 a month.

Don't know which is more beyond my comprehension - that they only will
have a 2 yr mortgage-- or that their 'rent' will still be $700. * Do
you still have property taxes in a co-op- or is that part of the
maintenance fees?

Jim

think hoa fees. you still have property taxes. maint fees are for everything
from your wall paint outwards in your condo.

I'm not so sure...

Excerpted from:

http://www.bankrate.com/brm/news/rea...te/condos1.asp

"Condo or co-op? What's the difference?"

Property taxes: Because condos are owned individually, they appear in
the property tax rolls as separate entities and, accordingly,
individual owners are taxed separately.

The entire property co-op is owned by the corporation, so it appears
on the tax rolls as a single piece of property. The corporation pays
the property taxes and passes along the cost to the tenant-
shareholders, usually as part of the monthly maintenance fee.