Gramercy Park : Questions & Answers

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Anna Brocco, Real Estate Pro in Nassau County, NY
Anna Brocco answered:
when looking in the gramercy park location what are the better deals? For example: coops or condo? I am confused with the maint fee? thanks
Ask your agent about any necessary clarifications; co-op ownership represents an interest (i.e. stock) in realty; condo ownership is actual ownership of realty. Condominium ownership is ... more
1 vote Share Flag Mon Aug 25, 2014 Market Conditions in Gramercy Park
Christopher…, Real Estate Pro in Westchester, NY
Christopher Pagli - ABR, GREEN answered:
In regards to a flip tax, is there a usual percentage amount . My co-op is imposing a 50% flip tax. I am all for the fee, but is this fee excessive?
Unfortunately they can charge whatever they want, 50% is excessive.

Chris
0 votes Share Flag Sat Jan 11, 2014 Home Buying in Gramercy Park
Florin Hoxha, Real Estate Pro in Upper East Side, New...
Florin Hoxha answered:
Hi, what is the median price per square foot for rentals in the gramercy/flatiron area?
Rentals range from $50-80/SqFt per year. This is the median range and it really depends on exact location, building type (luxury vs walk up), unit renovations, floor, and renovations. I ... more
0 votes Share Flag Mon Dec 16, 2013 Market Conditions in Gramercy Park
Shahar, Real Estate Pro in New York, NY
Shahar answered:
are all apts sold at 36 gramercy?
I can find you an apartment anywhere on that block or area
contact me
1(516)637-2024
0 votes Share Flag Sun Aug 18, 2013 Home Buying in Gramercy Park
Catherine An…, Real Estate Pro in New York, NY
Catherine Andrusenko answered:
anything for sale in a co-op in flatiron or unions sauare?
Dear Amy,

I employ an amazing platform, that allows my clients search the available properties on their own time. Setting up the criteria profile will only take you a couple of minut ... more
0 votes Share Flag Mon Jun 24, 2013 Home Buying in Gramercy Park
Alison Hillm…, Other/Just Looking in San Francisco, CA
Alison Hillman answered:
nearby shopping
Hi there, I would recommend checking out Yelp.com for local insights!

Thanks,
Ali, Community manager
0 votes Share Flag Tue Jun 4, 2013 Shopping & Local Amenities in Gramercy Park
Fern Hamberg…, Real Estate Pro in 10026
Fern Hamberger NYRS CBR answered:
I am brazilian, and I would like to pay all,do you think it will be a reduce price?
Hello Maria,
Cash is king and it may win you the sale. And depending on the seller, it may reduce the price
by a few dollars. since paying cash will also reduce the time waiting for t ... more
0 votes Share Flag Tue Apr 9, 2013 Market Conditions in Gramercy Park
Amy Rea, Real Estate Pro in New York, NY
Amy Rea answered:
Will the Tropical Storm Cycle effect future sales in the Downtown Area?
Very good question. Seems that question is on the Sealed Lips of the Silent Majority downtown.
Until some barrier in the Ocean can be created to staunch the increasing stormy reaches, ... more
1 vote Share Flag Tue Nov 6, 2012 Agent2Agent in Gramercy Park
JOSEPH RUNFO…, Real Estate Pro in Staten Island, NY
JOSEPH RUNFOLA JR, BROKER, GRI answered:
Is legal that the Astoria bank charge me flip tax on my loan? the seller is going to pay this rate
A Flip Tax is a tax imposed by the cooperative on the sale of a unit, it is not charged by Astoria bank. The flip tax can be paid by the purchaser, seller, or shared by both parties; bu ... more
2 votes Share Flag Thu Oct 25, 2012 Home Buying in Gramercy Park
Elena Ravich,…, Real Estate Pro in 10019
Elena Ravich, Manhattan Expert answered:
If you purchase a coop unit from a sponsor not required to pay the coop's flip tax are you the new owner exempt from paying a flip tax if you
when you are buying from a sponsor, you are usually paying transfer tax...not flip tax
flip tax is paid on re-sale transactions, i.e. is triggered after they have been sold by the spon ... more
0 votes Share Flag Sat Sep 22, 2012 Home Buying in Gramercy Park
Jason, Renter in New York
Jason answered:
Brokers fee on sublet
thanks to everyone that answered, i spoke to the sub landlord and its his broker who put the ad up. I negotiated the one month fee to $1800, down $700 after I made it abundantly clear ... more
0 votes Share Flag Tue Nov 1, 2011 Rentals in Gramercy Park
Mitchell Hall, Real Estate Pro in New York, NY
Mitchell Hall answered:
Is there any legal problem with a de-escalating flip tax, one that is lower the longer ou've held the unit?
No, In a coop any change in the proprietary lease including implementing flip tax usually requires a majority or 2/3 vote by shareholders. If the flip tax is based on net profits the co ... more
0 votes Share Flag Wed Jul 27, 2011 Home Buying in Gramercy Park
Anna Brocco, Real Estate Pro in Nassau County, NY
Anna Brocco answered:
Is there any legal problem with a de-escalating flip tax, one that is lower the longer ou've held the unit?
For any legal advice needed, do consult with an attorney who specializes in real estate; changes would need to be voted in...
0 votes Share Flag Wed May 25, 2011 Home Selling in Gramercy Park
Vincent Carr…, Real Estate Pro in New York
Vincent Carrieri answered:
I was not informed of a flip tax that the seller has to pay to the co-op board. I am the buyer and now the
i know this answer is about 2 years late but i didnt like any of the answers on saw on here. any flip tax over 3% ajusts your ltv. this is a fannie mae guideline. if your flip tax is mo ... more
1 vote Share Flag Mon Apr 11, 2011 Home Buying in Gramercy Park
Jeff Brenner,…, Real Estate Pro in New York, NY
Jeff Brenner, MBA answered:
what info should be included in a professional letter to be submitted to a co-op board?
Hi Allison,

I've collected a bunch of sample "de-personalized" letters for co-op board that may be useful to you or others. Feel free to email me at jbrenner@citi-hab ... more
0 votes Share Flag Tue Feb 15, 2011 Home Buying in Gramercy Park
JOSEPH RUNFO…, Real Estate Pro in Staten Island, NY
JOSEPH RUNFOLA JR, BROKER, GRI answered:
Do co-ops typically impose a flip tax only if you sell the unit within a certain period of time or even if you didn't sell it for 25 years?
Flip Tax is a tax imposed by a cooperative (co-op) on the sale of a unit within the building. This fee can be based on a percentage of the gross sale, net sale, gain, or the number of s ... more
0 votes Share Flag Wed Feb 3, 2010 Home Buying in Gramercy Park
Robbie Vaughn…, Real Estate Pro in Nassau, NY
Robbie Vaughn, Esq. answered:
Is there any law that would require the seller to notify the buyer that the property doesn't have a seasoned title?
You appear to be in need of immediate legal advice; you should consult with an attorney immediately.

Do you have a contract signed by the seller in your possession? If so, then consu ... more
0 votes Share Flag Tue Jan 26, 2010 Home Buying in Gramercy Park
JOSEPH RUNFO…, Real Estate Pro in Staten Island, NY
JOSEPH RUNFOLA JR, BROKER, GRI answered:
Anyone know if Gramercy Park is open to the public for Christmas eve carols?
Yes, it traditionally has been open for Christmas eve carols. The park was at one time opened to the public on Gramercy Day (which changed yearly, but was often the first Saturday in Ma ... more
0 votes Share Flag Thu Dec 24, 2009 In My Neighborhood in Gramercy Park
Jenet Levy, Real Estate Pro in New York, NY
Jenet Levy answered:
Where are the pictures? Where is the floor plan? On what floor is this apartment?
Hi, Cathe.
There is no link to your question to show which property you are asking about. Can you provide it? I see you are listed as "Home Buying in Gramercy Park." There a ... more
0 votes Share Flag Fri Nov 20, 2009 Home Buying in Gramercy Park
Jay Batra, Real Estate Pro in New York, NY
Jay Batra answered:
Where is the Gramercy neighborhood in NYC and what's it like to live there?
It's on the east side, from 17th to 24th. In my opinion one of the nicer neighborhoods in manhattan. Good selection of restaurants and bars. Relatively well priced compared to other ... more
0 votes Share Flag Sat Oct 24, 2009 General Area in Gramercy Park
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