Gramercy Park : Questions & Answers

change location

cancel or

Q&A

15
Ron Thomas, Real Estate Pro in Fresno, CA
Ron Thomas answered:
Is legal that the Astoria bank charge me flip tax on my loan? the seller is going to pay this rate
If I could understand your question,
I might have an answer for it.

My bet would be, that the Bank isn't going to do anything ILLEGAL.
Especially if you signed the papers.
0 votes Share Flag Thu Oct 25, 2012 Home Buying in Gramercy Park
Janet M. Nat…, Real Estate Pro in Baldwin, NY
Janet M. Nation 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
If it's part of your proprietary lease you and you do not have the same privilege as the previous owner, then yes you will have pay when you sell.
0 votes Share Flag Sat Sep 22, 2012 Home Buying in Gramercy Park
Josh Rubin, Real Estate Pro in New York, NY
Josh Rubin answered:
I am brazilian, and I would like to pay all,do you think it will be a reduce price?
This market is funny. Assuming you meant all cash, you might find a 5% discount but more than likely you'll be up against other cash buyers if it's an otherwise attractive pro ... more
0 votes Share Flag Tue Apr 9, 2013 Market Conditions in Gramercy Park
Barry Salott…, Real Estate Pro in Westport, CT
Barry Salottolo answered:
Brokers fee on sublet
Sounds like a bait and switch, totally unethical. If the broker did not fully disclose to yo that it was a fee apartment and you did not sign anything I would go directly to his owner ... 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
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?
Hi Anti Flipper,

Not that I know of but I think a de=escalating flip tax is a fair way to impose a flip tax. The flip tax was originally introduced back in the 70's/80's wh ... more
0 votes Share Flag Wed May 25, 2011 Home Selling in Gramercy Park
Jeff Brenner,…, Real Estate Pro in New York, NY
Jeff Brenner, MBA answered:
are all apts sold at 36 gramercy?
Hi Dee,

Units are still available at 36 Gramercy. Many of the units were snapped up by insiders (e.g. existing tenants) at prices of approximately $1800/sf, but the existing market- ... more
0 votes Share Flag Sun Aug 18, 2013 Home Buying in Gramercy Park
Voices Member,  in
Voices Member 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?
Hi Kirsten, here on Long Island, the Flip Tax is common. The Co-Op board charges this fee to the shareholder only when they sell and it doesn't matter how long you owned it. Below ... more
0 votes Share Flag Wed Feb 3, 2010 Home Buying in Gramercy Park
Scott Godzyk, Real Estate Pro in 03109
Scott Godzyk answered:
Is there any law that would require the seller to notify the buyer that the property doesn't have a seasoned title?
Chuck first your loan officer should have told you about this law before you starte dto look so you could ask, if your buyers agent knows you are getting an fha mortgage then they shoud ... 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
Sean Dawes, Other/Just Looking in Philadelphia, PA
Sean Dawes answered:
Where are the pictures? Where is the floor plan? On what floor is this apartment?
We need an address to the property that you are asking about in order to help you.

So if you can provide some more info that would be great.




Sean Dawes
0 votes Share Flag Fri Nov 20, 2009 Home Buying in Gramercy Park
CJ Brasiel, Real Estate Pro in San Jose, CA
CJ Brasiel 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
Sudie -

I am sure the NY Trulia voices will chime in with better information, but I found this article that you might find helpful.

http://www.nytimes.com/2005/02/13/realestate/13 ... more
0 votes Share Flag Mon Apr 11, 2011 Home Buying in Gramercy Park
Aileen-Manha…, Real Estate Pro in New York, NY
Aileen-Manhattan-NYC answered:
what info should be included in a professional letter to be submitted to a co-op board?
I believe a professional reference letter should include: date of the letter, how long the writer has known the applicant, the writer's status in the business, background on the writer' ... more
0 votes Share Flag Tue Feb 15, 2011 Home Buying in Gramercy Park
Bruce Lynn, Real Estate Pro in Coppell, TX
Bruce Lynn answered:
How can I research an area's Crime Rate and the quality of that area's Schools?
For crime rates there are online stats, but I think the better info and stats might come from your CRO...or Community Resource Officer at the police department. If you live in NYC I t ... more
0 votes Share Flag Thu Jul 23, 2009 Quality of Life in Gramercy Park
JOSEPH RUNFO…, Real Estate Pro in Staten Island, NY
JOSEPH RUNFOLA JR, BROKER, GRI answered:
Where is the Gramercy neighborhood in NYC and what's it like to live there?
Boundaries: 17th St. to 22nd St.,Park Ave. South to Second Ave. One of the more expensive neighborhoods to live and to eat in. Centered around a small private park (you need to have a k ... more
0 votes Share Flag Thu Feb 28, 2013 General Area in Gramercy Park
Search Advice

Followers

2495
Email me when…

Learn more

Meet the Trulia VIPs
Steve Hirsch, Broker in 11375
Steve Hirsch
Broker
11375
JOSEPH RUNFOLA JR, B..., Broker in Staten Island
JOSEPH RUNFOLA JR, B...
Broker
Staten Island
Marjorie Dybec, Broker in 10011
Marjorie Dybec
Broker
10011
Home > Q&A > New York > New York County > New York > Gramercy Park
Copyright © 2014 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer