CactusBoyScout t1_jbhymr3 wrote on March 9, 2023 at 4:10 AM

Reply to comment by cocktails5 in With an absentee corporate landlord, Upper Manhattan tenants unite to demand repairs by natekrinsky

I’m not sure why you’re confidently asserting that it’s only the explanation you’re offering.

I’ve looked into the HDFC buildings near me. The all-cash ones were cheaper than ones that took mortgages when you looked at comparable units. Clearly they’re not getting more money.

And I asked my realtor friend who lives in an HDFC unit and she said it’s almost always bad finances and an inability to get approved by banks.

Sounds like you’re looking at some pretty extreme cases likely in Manhattan based on the pricing.

cocktails5 t1_jbi3lea wrote on March 9, 2023 at 4:56 AM

Here's a recent example:

https://streeteasy.com/sale/1648536

$220k/yr income limit for a family of 4. Nobody is ever going to get a mortgage approved for that place within that income limit.

https://streeteasy.com/sale/1631168

1.1 million studio, 154k income limit.

Chewwy987 t1_je0j55y wrote on March 28, 2023 at 3:20 PM

These buildings might have better financials csudd ask price I’d higher or the old owners of the hdfc unit decided to cash in and make bsnk