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Kennedy House Co-op Real Estate.
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Yes, we got the deposti back within a couple of months..took longer that we would have liked, but we did get it.



As for the realtor I mentioned, she was the seller's broker, not ours...she lives in Kennedy, talks to the Board when she's not supposed to...the feeling we got was that she wanted the full commission for herself and was not happy that she'd have to split it with our brokers...our brokers thought that she might have planted a few "seeds" in the minds of the Board to discourage them from accepting us...I should mentionthat our brokers have had other problems with this realtor...



the other proglems? well, our brokers showed a woman an apartment, the other one showed this same woman a different apartment...the woman decided she liked the one our brokers showed her better...this broker sayd, "oh, I can sell you that apartment, I'll do the paperwork for you" and basically stole the sale...I believe that may have put in a foram compalint against her.

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RE: KENNEDY HOUSEDoes anyone have any advice on preparing the board pkg for the Kennedy House building? What about advice on facing the board in an interview as a relatively young buyer?

I live in the KH- Sorry that some have had a bad experience but I did not have the attack dog experience during the board interview - I am VERY happy living in this building. If you still are looking for info on the board package etc. - feel free to post back- I will try to help you out.
2007-07-22 15:28:09

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I agree the building overall is nice in and out but the co-op has some problems on a few fronts. First, the 33% down requirement is absurd. I live in Forest Hills Gardens, there is not one building that requires more than 20% down. The interview process is a hastle there. I have heard story after story and you know it really isn't as bad for the buyer, sure you get turned down, imagine what a nightmare it is for the seller. The Board also makes it unreasonable by not allowing any open houses in the building. Again unheard of even in the most prestigious buildings of FHG and even Manhattan. Again another hinderance there. lastly, the biggest problem faciing Kennedy House, I heard you guys, besides your getting pricey maintenance, is it correct you have 2 assessmants tacked on now? I hear the maintenance along with the 2 add ons is running about a thousand on a 1 bedroom. Ouch!

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TR - I have heard that The Continental building requires 35% down!! Also Gerard Towers I think is 25%. This is what I have heard anyway, I would love to be wrong. I am in Birchwood Towers and they just banned open houses due to increased crime rates they said. I am looking to sell and move at year end so have been doing some research. I am the poster interested in the KH.



Jane

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TR - I have heard that The Continental building requires 35% down!! Also Gerard Towers I think is 25%. This is what I have heard anyway, I would love to be wrong. I am inBirchwood Towers and they just banned open housesdue toincreased crime rates they said. I am looking to sell and move at year end so have been doing some research. I am the poster interested in the KH.Jane

email me if you want to talk about KH
2007-07-23 19:24:33
jkny321

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Don't bother.
My credit score is very high (even brokers were shocked).
I have been at my job almost 10 years.
I had the 33% down.
What I didn;t have was over 6 figures left over in my bank account.
If I did, I would buy a house!

I know sellers in that building JUST as frustrated!

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$%*'`[anti-Kennedy]%*'`@Reply to : jkny321

Don't bother.My credit score is very high (even brokers were shocked).I have been at my job almost 10 years.I had the 33% down.What I didn;t have was over 6 figures left over in my bank account.If I did, I would buy a house!I know sellers in that building JUST as frustrated!



exactly..



our credit score was "through the roof"

we not only had the 33%, but we were paying for the apartment in cash as we were selling our house--we were getting a short term home equity loan as a "bridge" between the apartment purchase and the house sale, so there wasn't even the matter of a mortgage..



In terms of IRAs and bank accounts we had in the 7 figure range--what we didn't have as much of was job-related income as we're semi-retired...but, as I said, our assets were/are huge..



The apartment seller had already had one potential buyer turned down by the Board--she worked in Finance and "hand-picked" us as people who would definitely not get turned down by the Board...yes, she's the one I really feel sorry for.



As I said before, I think the seller's broker, who lives in the building, talked to the Head of the Board and suggested that, maybe, we weren't really selling our house, even though it was listed and we almost had a contract...our brokers thought that she wanted the full commission herself and purposely poisoned our chances...don't know for sure as they never questioned THAT at the Board Meeting, just everything else..

If someone thinks it's worth a try, well go for it..but I'm just telling you what happened to us.

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Interesting comments all around. I am probably going to seriously look close to year end. I am mostly in the online research stage still. One thing I do know is that the same 2 Jr 4 apartments have been on the market there for probably a year each. They've got to be overpriced. I would move faster if something top floor became available, that is my dream. But I was told they very rarely come on the market.

Btw anit-Kennedy - what percent is the down payment requirement at Gerard Towers? Do you know if it really is 25%?

Thanks

Jane

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wow...surprising that they are still able to maintain high prices with such a board. hard on both sellers and potential buyers!

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DEAR ANONYMOUS(I KNOW VERY WELL WHO YOU ARE):

THAT YOU ARE STILL SPEAKING POISON ABOUT THE KENNEDY BOARD REJECTION YOU EXPERIENCED WELL OVER A YEAR AGO SHOWS ME HOW BITTER YOU ARE AND TO DRAG THE REALTOR INTO YOUR EMBARRASSMENT AND YOUR ATTEMPT TO BESMURCH MY REPUTATION THAT I HAVE BUILT FOR THE LAST 15 YEARS IS DISGRACEFUL. 1). I POURED OVER YOUR PACKAGE PROBABLY A DOZEN TIMES OR MORE FOR HOURS(THANK YOU). AND WHY WOULD I HAVE DONE THAT IF I DIDN'T WANT YOU TO PASS THE BOARD. 2. AS FOR YOUR DIVULGING THE BROKERS' OPINION ABOUT THEIR DIFFICULTIES WITH ME, THERE ARE ALWAYS TWO SIDES TO THE STORY. 3. THAT I AM INTERESTED IN SELLING LISTINGS WITH MY BUYERS, PLEASE KNOW THAT I HAVE PLENTY OF BUSINESS AND HAVE NEVER SQUEEZED OUT ANY OTHER BROKER WHEN THEY BROUGHT A GOOD BUYER READY, WILLING AND ABLE. 4) THAT YOU MENTION THAT I SPEAK TO THE BOARD WHEN I AM NOT SUPPOSED TO, WHAT BUSINESS IS IT OF YOURS TO HAVE AN OPINION OF THAT AND IT IS A FREE COUNTRY AND IF I NEED HELP OR HAVE QUESTIONS, I WILL INQUIRE TO HELP THE BOARD PROCESS ALONG. 5)THAT YOU HAVE USED MY NAME IN THIS BLOG TO DELIBERATELY BESMURCH MY NAME BASED ON YOUR SOUR GRAPES OPINION IS AGAIN, DISGRACEFUL. AND YOU DID IT ANONYMOUSLY. I KNOW VERY WELL WHO YOU ARE AND I STRONGLY ADVISE YOU TO KEEP YOU UNSUBSTANTIATED SLANDEROUS COMMENTS AND ACCUSATIONS TO YOURSELF.

Reply to : anti-Kennedy [Anonymous]

Reply to : Anonymousanti-Kennedy:It seems like your experience with the KH board was quite unpleasant...did your broker pre-qualify you before you met with the board members? How long did the process take before they gave you a decision? When do you get your deposit back if turned down??We didn't even have to pre-qualify, we didn't need a mortgage as we were selling our house and buying the aopartment outright...we took out a home equity loan as a "bridge"to buy theapartment before selling the house,and already had qualified for the home equity loan...they didn't want to believe we were selling the house, even though it was listed...trust me, we had no desire to keep the house...their modus oper

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What a pathethic bitter person. Your real estate ethics are highly questionable to say the least. Thankfully, you are not associated with any of the brokers in FHG. I hear you live in that building too. Good luck there. Your building has enough problems as it is. I see you guys have 2 seperate assessments in addition to your maintenance. What are those for? And by the way, the Board requirement of 33% down, you are limiting your buyers in a severe way to your sellers.

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What a pathethic bitter person. Your real estate ethics are highly questionable to say the least. Thankfully, you are not associated with any of the brokers in FHG. I hear you live in that building too. Good luck there. Your building has enough problems as it is. I see you guys have 2 seperate assessments in addition to your maintenance. What are those for? And by the way, the Board requirement of 33% down, you are limiting your buyers in a severe way to your sellers.


The brokers in FHG are not any better. They hardly know any more real estate than after a night on the internet. The comparables compared with their listing prices are on average 25-40% lower. It's just out of control.

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I am not sure if most of the people posting on the Kennedy House are realtors or just people who have nothing better to do than to keep track of what everyone else is paying or not paying...I would be interested to know what your living expenses are...For anyone who is actually interested in what it is like living in the Kennedy House - I do live there- Pay one Assessment, Do not feel like a SUCKER when I look out my window from my beautiful apartment, to a beautiful view, in a building that is very well kept. I researched just about every building in the neighborhood before I bought at KH and quite honestly, it is worth every penny. If you can't pay the 33% - stop complaining and live somewhere else. As for the maintenance, it really is not that bad when you consider the maintenance payments in other buildings where you don't get half of the benefits that you get in the Kennedy House. There are plenty of crappy buildings in FH that you can pick on that would truly deserve it....why don't you waste your time complaining about those buildings for a while

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The Kennedy House has financial problems if you need 2 assessments tacked onto your maintenance. You can call it one, I checked it out, there are 2, one called a capitol assessment and one for fuel. In your fuel one, you are paying just over $100 a month for a 1 bedroom. The price for a 1 bedroom maintenance is over $1000 now for a 1 bedroom. I know my real estate. Once you hit that 1000 mark, especially in Queens, your pool of potential buyers shrinks quite a bit. Add the 33% down thing, even more are gone. Your maintenance is out of line even with the best buildings in the Gardens. Oh by the way, your beautiful view is my neighborhood of Forest Hills Gardens.

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$100 a month for fueling a 1br???

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