What your describing does not sound right, fair or logical. I suspect you may be leaving out important details or mistaken. Quite often a co-op will have a flip tax or transfer fee that a seller typically pays when they sell their co-op. However, if these fees are too high, it diminishes the value and desirability of the co-op and hence will lower the sales prices in that particular co-op.
Such policies do benefit the co-op and the co-op owners because they bring in more money to the co-op which comes at the expense of people leaving as opposed to people staying. But if those fees are too high it can render your co-op unsalable down the road! You need to investigate further.
Tread cautiously. If you have more questions or want to discuss this further, please contact me direct. good luck!
Mitchell S. Feldman
Associate Broker/ Director of Sales/ e-Pro Realtor
Fillmore Real Estate
Office: (718) 252-2000/ Cell: (917) 805-0783
I can't say that it isn't possible, but I have never heard of such practice in co-ops. Unless I am mistaken, what you're describing would imply a flip tax of 50%. I have heard of 30% but that was in specific buildings over a long period of time. If you would like to speak about it over the phone, feel free to email me directly and let me know when you are available.