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Property Q&A in 11238 : Real Estate Advice

  • All55
  • Local Info1
  • Home Buying24
  • Home Selling5
  • Market Conditions1

Activity 10
Mon Apr 6, 2015
Daniel Ault asked:
I am exploring the option of transferring some ownership interest in my NY property to my children however I cannot find any information on what the parameters are? Does anyone know where…
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Thu Jul 24, 2014
Felicia asked:
Can you provide more information regarding number of bedrooms, floor level and identify the specific pictures that are applicable to the available unit.

This question was asked from…
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Tue Jun 7, 2011
Charles D'Alessandro Sr answered:
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Mon Jun 6, 2011
Dkinny asked:
Thu Nov 26, 2009
Jade asked:
The new building that I am intested in do not get approval for the 15 years tax abatements yet. Will it possible not getting the approval? I am afraid it may not get the 15 years tax abatement…
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Wed Nov 25, 2009
Barbara Ann Rogers answered:
There is always the possibility of a delay in getting the 421(a) benefit on new construction. If you close on the place prior to its approval you will pay taxes at the full effective rate until then and the abatement is not retroactive. I know of one building that started closings a full year before the abatment was approved; residents paid an average of $1000 per month in real estate taxes, and that $12,000 is not coming back.

But remember, you are not obligated to sign the contract once your offer has been accepted. Your lawyer should fully investigate the 421(a) situation as part of the due diligence procedure.

Good luck!
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Mon Jan 26, 2009
Everett Perry answered:
unfortunately you wont be able to determine this for a few months. it takes about 3 weeks to update on ACRIS after the title closes.
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Thu Jan 8, 2009
Ralph Windschuh answered:
Banks don't like to own properties. They are in the business of lending money and collecting interest. It costs them money to foreclose and then hold a property. You or your attorney should contact the bank directly and see what can be worked out, if anything. If I can help, please let me know. Good luck.

Ralph Windschuh
Century 21 Princeton Properties
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Sat Nov 1, 2008
Jenet Levy answered:
Hi, Payal. There are currently no active listings in this building. I would be happy to help you locate a sutiable property. Feel free to click on my contact info and give me a call.
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Mon Oct 27, 2008
Adina Greenberg answered:
Listing ID: 1611925
Price: $575,000.00
Maint: $630.00
Listing Type: Cooperative
Type: Simplex

Residence InformationRooms: 5.0
Bedrooms: 3
Bathrooms: 1.0
Period: Pre-War
Built: 1900
Building Type: Walkup
... more
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