I'm looking for an appartment in New York City or maybe auch in Queens,?

but some times I read something like Managed or Private and I have not Idea what does that all means. Does anybody knows what's that?
And what is when it says Coop?

Thank you and regards,
Tony

My budget is 2000 USD/Month.

I am a NY Real Estate Appraiser. The previous poster hit the nail on the head in regards to the private vs. managed. Co-ops are not real property, you will own shares of a corporation which owns the building that you are living in. There are much more restrictive in who they let in, you will have to go in front of a board to receive approval. They require a certain percentage down payment, a full review of finances and there are alot of restrictions. I would recommend a condo if you can afford.
Manhattan is very expensive. You should look into Forest Hills, Queens (close to Manhattan 20 minutes, nice neighborhood); you will get a nice apartment for 2k. I bought a 2 bedroom in Long Island for 205k (about 40 minutes away from NYC). My total payments are 2,100 with property taxes, mortgage and maintenance. Just a thought.

Managed means a management company handles the property for the owner. Private means the owner handles the property himself.


Coop is short for Cooperative. In a coop, you own shares of the "corporation" equal to the size/value of your apartment. You don't own the physical apartment like you do with a condo, just the right to use a certain amount of the space available from the corporation in the form of an apartment. It's harder to get a mortgage on coops, and many lenders just don't want anything to do with coops. In many parts of NYC, the coop board has to approve the potential buyer. Way back in 1984, we were trying to buy a $55000 2 bedroom coop in Jackson Heights, and were turned down because we only had $20K in cash. The first house I sold in St Louis was $79000 and the total of down payment and closing costs was less than $10,000. Go figure.

I've been out of NYC for a long time now, but the best apartments we found were on bulletin boards at churches. It's hard to find a place there because there are so few places available at any given time.