Why Manhattan Luxury Co-Ops Are Losing Their Luster

The video discusses the decline in luxury co-op sales compared to condos, highlighting the appeal of condos due to fewer restrictions and more amenities. It explains the challenges of co-op ownership, such as board approvals and investment liquidity. The video also touches on the impact of these trends in NYC boroughs, particularly Brooklyn.

What is one reason for the decline in co-op sales compared to condos?

• There are more new luxury condos available.

• Condos have stricter buying requirements.

• Co-ops have better amenities.

• Co-ops are more expensive than condos.

Why might a buyer prefer a condo over a co-op?

• Condos are older buildings.

• Condos require board approval for purchase.

• Condos have more restrictions.

• Condos offer more amenities and fewer restrictions.

What is a challenge associated with owning a co-op?

• Co-ops are easier to sell.

• Co-ops have no restrictions on renting.

• Co-ops require board approval for selling.

• Co-ops are more liquid investments.

Why do investors generally prefer condos over co-ops?

• Condos are less expensive.

• Condos require living in the property.

• Condos have more restrictions on renting.

• Condos offer more flexibility for investment purposes.

What is happening in Brooklyn in terms of luxury real estate?

• Luxury co-ops are more popular than condos.

• There is a surge in luxury condo developments.

• There is a decline in luxury condo developments.

• There are no new luxury developments.