For the awesome view, for security and doorman 24/7, for two swimming pools, for being closer to downtown, and for the utilities that are not included in your assessment.
Printable View
i have no bars and no grills!!! sorry to tell you!!! very safe!!!
If you can afford the cost and it comes down to the decision you mentioned above, allow me to put in a good word as it relates to the view.
I lived in a 19th floor southwest corner apartment in Lafayette Towers [[across the street from 1300). The view was incredible and I have such happy memories of having that view every day.
I would often watch the sunrise over Belle Isle, and it brought such a feeling of serenity. The view was like living artwork. I was mesmerized by the movement over in Canada, little tiny matchbox cars zipping down the road. And my favorite thing was watching the freighters.
If it were me, I would go for the view. An opportunity to have that kind of view doesn't come along everyday. I know there are other factors, but all things being equal that would be my vote if I were doing it.
"the movement over in Canada"
I didn't realize they had one too.
I've seen a number of listings for co-ops in 1300 that state "financing not available". Is this particular to certain units, the whole building, and why? I realize co-ops are "wierd" to many in Michigan but surely they're usually able to be financed. Is it like condos where FHA has an approved [[or not) list?
I THINK they mean that "1300 Lafayette" does not finance, and you'll have to get it on your own. There are few banks in MI that finance cooperatives. The big one is NCB, National Cooperative Bank, and Mackinac Savings Bank. Both are active in financing cooperatives in the Detroit area, but are out of State. There might be others I'm unaware of.
I don't know, most of the current 1300 Lafayette listings have some comment such as:
"CASH SALE. FINANCING NOT AVAILABLE."
"CASH DEAL ONLY. NO FINANCING BANK FOR THIS CO-OP."
Most are private sales, not bank or government agency owned. I wonder if there is something about the financial or legal standing of the co-op association that makes units difficult or impossible to finance. Certainly something to research if one is considering buying one. Cash-only will limit the resale market.
Cooperative units are privately owned. A financial and criminal background check is usually required, @ least for the better ones. Maybe current occupants are looking to get out, and are willing to make perspective buyers an offer they can't refuse. I wonder what a 2 bedroom goes for there, and what the monthly association fee is?
first of all..buying a co-op is not like buying into a condo. in a co-op, you are buying a share of a corporation. by purchasing that 1[[one) share...you get a place to live. you control your share by paying your monthly dues.
if my fridge breaks, i get a new one because i pay for that. if my oven wont heat, i get a new one. as part of the corporation that i pay into...i get benefits.