Questions To Ask - 27 East


Southampton Press / Opinion / Letters / 1801031

Questions To Ask

Regarding my recent Letter to the Editor, per Aiden Corish’s observation, I recently saw the least expensive studio co-op in the Hamptons: $115,000. I happened to meet the owner, too, but I didn’t ask for the plan, because co-op living is no longer for me.

But what the potential buyer should look for in the plan are (1) the percent of shares, (2) other living spaces with equal shares, and (3) percent maintenance increases over the years.

With that data they can track whether they’re making money on the monthly maintenance or funding the co-op inequitably.

Billy Sternberg