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Updated over 6 years ago on . Most recent reply

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Ray T.
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<NYC> HDFC co-op in Harlem vs co-op in Jackson Heights

Ray T.
Posted

Hi everyone. I am completely new to the forum and the real estate market in general. I am looking to buy a one or two bedrooms co-op for house hacking in New York City in the next few months and looking for some advice. I'm currently looking at co-ops in Harlem and Jackson Heights due to how convenient they are. The HDFC co-op in Harlem is around the same price as in Jackson Heights. Here are a few pros and cons I noticed:

Pros:

HDFC in Harlem (125th or 145th)

  • Close to work, especially my company is going to move to Hudson Yards in the next few years.
  • Easy to get home even at 2 am on a weekend.
  • Gym, supermarkets, and most importantly, central park close by.
  • Easy to sublet a room out on Airbnb.

Co-op in Jackson Heights (Roosevelt Ave)

  • Close to work, less than 20 minutes door-to-door. 
  • Close to gym and supermarkets.
  • Close to both airports (although I don't travel often, I am dreaming of taking more vocation abroad).
  • I have a friend who's willing to rent a room there.
  • No flip tax.

Cons:

HDFC in Harlem (125th or 145th)

  • Flip tax.
  • Hard to sell in the future due to the income restriction. 
  • Relatively poor co-op management. I heard many are facing financial issues.
  • More strict on subletting.  

Co-op in Jackson Heights (Roosevelt Ave)

  • Will be a bit far after my company moved or if I change to another job.
  • Takes forever to go back on the weekend.  

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