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Real Estate Investing in New York by Christina KremidasAuthor: Douglas Elliman Podcast
I am dedicated to helping people set themselves up for a future of financial success by making intelligent Real Estate investment decisions today. Language: en-us Contact email: Get it Feed URL: Get it iTunes ID: Get it |
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Co-op Requirements vs Condo Freedom
Episode 68
Thursday, 22 May, 2025
In this I'm breaking down the surprising truth about co-ops versus condos in New York City real estate. While co-ops are known as the more affordable option with lower purchase prices, I'll show you the shocking math that reveals they actually require MORE income and cash on hand than their pricier condo counterparts. Through a detailed side-by-side comparison of a $1M co-op and $1.25M condo, I'll expose how co-op down payment requirements, debt-to-income ratios, and post-closing liquidity demands dramatically change the affordability equation.About the Host:Christina Kremidas is a lifelong New Yorker who brings her extensive background in advertising to her successful real estate career in Manhattan. Her personal experience as a property investor and landlord in New York City gives her unique insight into her client's needs, while her negotiation expertise and market knowledge have quickly established her as a top-performing agent, ranking among the top 1.5% of licensed Agents in the United States for Sales Volume and among the Top 10 highest producing Small Teams at Douglas Elliman Real Estate. Beyond her professional achievements, Christina is deeply involved in the NYC community. She is a founding Steward at St. Nicholas Greek Orthodox Church and National Shrine at the World Trade Center, where she serves on the Parish Council and leads social media, marketing, and young adult initiatives.Get in touch with Christina:Instagram: https://www.instagram.com/christina.kremidasTikTok: https://www.tiktok.com/@christina.kremidasCheck out my website: https://christinakremidas.com/Email me: Christina.Kremidas@elliman.comWhat Is Your Property Worth?: https://christinakremidas.com/home-valuationThe Virtual Agent Experience: https://christinakremidas.com/virtual-agentTimestamps0:00 "The co-op math ain't mathing"1:19 Setting up the comparison: $1M co-op vs. $1.25M condo3:47 Breaking down financing options and down payment requirements6:19 Analyzing debt-to-income ratio requirements9:29 Calculating income requirements 11:52 Post-closing liquidity requirements 14:14 Comparing closing costs 16:22 Co-op requires $200K more cash and $30K higher income
