514 West 50th St. #4FE

HDFC INCOME RESTRICTED (see below)
FIRST TIME AVAILABLE IN 27 YEARS!

This approximately 450sf cooperative 1-bedroom/1-bathroom in Midtown West (Hell’s Kitchen) has separate dining, living, cooking and sleeping areas as well as the benefit of unobstructed Eastern light that cover the apartment throughout the day. The apartment has central heating, dual washer/dryer and king-sized bedroom.

4th floor walk-up.

HDFC Cooperative with income restrictions set at 120% of the 2021 AMI (below). This income limit is based on Tax Returns from 2019 and 2020 as well as employment letter/paystubs from 2021:
1 Person- $100,320
2 Persons- $114,600
3 Persons- $128,880
4 Persons- $143,160

There are no asset restrictions and no future income restrictions once you’ve purchased the apartment.

BUILDING
This HDFC cooperative consists of eighteen apartments, is a financially healthy, and has an outside management company in addition to the board.

This apartment must be used as the owner’s primary residence. Parents buying for their children (all cash) and gifting (of down payments) are allowed but is done so with approval from the co-op board.

Flip tax for sellers is calculated as follows:
(1) for sales of shares in which the profit represents 50% or more of the gross sale price of the Apartment, the Corporation shall receive 30% of the profit amount; or
(2) for sales of shares in which the profit represents less than 50% of the gross sale price of the Apartment, the Corporation shall receive 10% of the gross sale price minus (if applicable) the capital improvement deduction allowance (with a minimum capital improvement deduction of $10,000.00*).