Located in the Boston West End is a co-op building, 150 Staniford Street. The building does have some nice features such as large floor plans and indoor parking. But from what I see it doesn’t appear that Boston buyers are attracted to the co-op concept. According to MLS three co-ops are available for sale at 150 Staniford Street. Let’s see how they’re doing:
150 Staniford Street #732
First listed on 4/6/09 for $409,000.00
Today listed for $389,000.00
150 Staniford #917
First listed on 10/1/08 for $499,000.00
Today (242 days latter) listed for $425,000.00
150 Staniford St #61B
First listed on 10/3/2007 for $559,000.00
Today (647 days latter) listed for $399,000.00
Let’s say you did purchase 150 Staniford St #917 along with your monthly mortgage payment you would need to pay what is called a “blanket mortgage” of $746.00 per month, plus real estate taxes of $221.00 per month and a monthly co-op fee of $632.00 month.
Hmm…I wonder why these $400,000 Boston co-op’s are having trouble selling?
File Under: I’ll take my condo over a co-op.