Reading the building, not just the apartment
In New York the apartment is half the purchase. The other half is the building's financial condition: reserve levels, the underlying mortgage and its maturity, assessment history, the ratio of owner-occupants to investors, and whether a capital project is coming.
The offering plan, recent financial statements and board minutes together tell you what your carrying cost looks like over the next five years. They are worth reading properly.
Co-op versus condo, decided on your facts
The generic comparison is available everywhere. What matters is which structure fits your financing, your timeline, your intent to sublet, and your tolerance for board process. Flip taxes, sublet policy and board approval risk are the variables that actually decide it.
The comparison is worth working against your situation rather than the general case.
Assessments and capital exposure
A building carrying a Local Law 11 facade cycle, an elevator modernization, or a boiler replacement has a cost coming that may not be reflected in the asking price. Sometimes it is disclosed clearly; sometimes it is visible only in the minutes and the reserve trend.
Finding it before you sign is the difference between a known cost and an unwelcome surprise.
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