Is REI feasible for co-ops in NYC (Harlem specifically) area?

[Mandy Hildebrand]

Let me start this by saying that I am not in the least familiar with REI in NYC! Been to the city several times, love it, know people who've lived in various types of housing there, but that's it.

Someone found my company and reached out regarding a co-op in south Harlem that isn't selling as fast as they'd like and wanted to know if there is anything I could do to help.  It's listed with a broker (she's actually already fired one and is on her second) at $1.25M and she's not willing to come down in price for now.  It is a co-op building.  

Right off the bat, it's not a good investment opportunity from the usual perspective as it's listed at a price per sf higher than other units have sold; it's only been on the market 3 months, which doesn't seem like a terribly long time to me, but again I don't know the area.

Mainly I'm curious as to whether or not a 'typical' investment strategy can even be followed in a co-op situation since they must approve all buyers.  Just looking for general info at this point from those who know the area.  Even if it were a good opportunity, it's not something I would want to tackle - too high a price point for my comfort level!