Apartment sold as condo

[sunshine79]

We just received notice that our apartment complex was sold to another company, who is now selling them off as condos. This is ridiculous! I had to move out of my old apt. because this happened, and we've only lived in this one for 4 months! Luckily we can stay till the end of our lease in Jan, but it's just so stupid. The worst part - our 3 br, 1200 sq foot apartment in Orlando is being sold as 272k!! That's insane! I'm looking to buy a house soon, but no way would I spend that much on a little apartment that doesn't even have a garage or much of a dining room! It just makes me so mad that prices are being driven so far up in this area... I mean, come on, it's not a big city, how can they justify selling a condo for that price!?!?

Thanks for letting me vent!

[Bugsey34]

Welcome to the world of real estate. I am looking for a studio in Manhattan so no one's pain compares to mine. I can barely find 300 square feet for $272K.

[kitalyn414]

yeah it is pretty crappy. my bf and i were looking around and alot of places do that in LA. this one place we looked at was going for $630K... 2 bdrm, 2 bath but it was fairly small. and NO washer and dryer hookups. so... ummm.... yeah... spend close to three-quarters of a million dollars to live in an apartment. no thank you.

[winneythepooh7]

Yup. This goes on all the time in NYC. That's why it is so difficult to find a decent, affordable apartment to rent because all the bldgs are going co-op. Then from what I understand the co-op board makes it damn near impossible for many people to purchase an apartment in a bldg even if they can come up with the money. Then there are rules too that you can't rent out the apartment if you buy it as a co-op so you are damned if you do, damned if you don't.

[lilyflower]

Yup. This goes on all the time in NYC. That's why it is so difficult to find a decent, affordable apartment to rent because all the bldgs are going co-op. Then from what I understand the co-op board makes it damn near impossible for many people to purchase an apartment in a bldg even if they can come up with the money. Then there are rules too that you can't rent out the apartment if you buy it as a co-op so you are damned if you do, damned if you don't.

On a somewhat related note, did you see the thing they've been doing on "Today in New York" the last few days? They're trying to see what kind of apartments one can find in NYC for $1000 a month. Some of them? Well, have been pretty scary - like the "penthouse" with the outside closet and the basement apartment where one has to walk by all the pipes. It actually makes me glad I live in Jersey.