BPC CC and Tax

Ed Chen
Home Buyer
New York, NY

I'm interested in a unit in the Visionaire in BPC but have some concerns with cc and tax. Does anyone know
the history of BPC cc adjustments relative to the rest of Manhattan? Also for the Pilot tax, how often does reassessment occur and again how would it scale relative to the rest of Manhattan? I'm fearful that the 2 will rise dramatically over the year and affect resale value. Also cc is not tax deductible so is always a concern.

Answers (2)
First to answer: shong
Glenn Minnick,...
Agent
New York, NY

Generally, taxes everyplace in NYC go up every two years (PILOT in BPC) unless you are in one of the new buildings that offer 10 year tax abatements (the city is phasing this program out the end of this year...so buildings that offer 10 year tax abatements are selling out quickly). You are also subject to increase in land-lease costs, but generally they are negotiated and set for 10-15 years,so in a new building these should stay stable. Common charges tend to go up yearly because most condos don't have huge reserve funds, and with the rapidly increasing energy and labor costs, you can expect an increase in cc each year.

Sun Aug 17 2008, 04:17
shong
Agent
New York, NY
FIRST ANSWER

Hi Ed. Im actually one of the recommended approved lenders for the Visionaire. Please email me directly with any questions. In the meantime, I will find out what I can about the cc and taxes for you. sunny_hong@countrywide.com

Sun Apr 20 2008, 22:04

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