Underlying Co-Op Debt/Mortgage
Started by anonymous
about 6 years ago
Discussion about
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How worried should we be about buying into a a building with $20MM in an interest only mortgage? It's a large building upper east side coop (~200 units) and the portion attributable to our potential shares is $150k. The coop doubled their existing mortgage a couple of years ago to do a $9MM capital project.. All other financial metrics (reserve, current ratio, outstanding receivables) seem okay...Am i overthinking it, or is this potentially a land mine?