Eliminating Amenities: Know When to Walk Away
When buyers purchase apartments, they also purchase access to the condo or co-op’s shared amenities. Depending on the scale and financial demographics of the building, those amenities could be substantial; during the real estate boom of the early 2000s, free Continental breakfasts and in-house pet spas weren’t unheard-of. Even in more modestly appointed co-op and condos, pools, gyms, and so forth are often part of the package marketed to buyers. In a post-Recession economy however, boards in some buildings are re-evaluating the importance of certain amenities. Read the article……………
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