owner/broker sales

Yes, but there seems to be some wiggle room on how and when the disclosure is made.

Yes:

Part 175.6 of Title 19 NYCRR:

"Before a real estate broker sells property in which he (sic) owns an interest, he shall make such interest known to the purchaser"

Thanks, mjsalisb. You can see the ambiguity regarding the timing and placement of the disclosure. Ideally, all on-line and hard-copy versions of the listing should state "owner/broker", and that's often the case; but I don't think the law specifically requires it. Personally, I would hesitate to buy from a broker who omitted the disclosure from the listing. In itself, the omission probably doesn't matter; to me, though, it's a red flag (or at least a yellow one) regarding the seller's ethics.

http://www.streeteasy.com/nyc/sale/430441-condo-50-west-15th-street-chelsea-new-york

06/21/2009 Listed in StreetEasy by The Malley Group at $7,950,000.

and look at 10/28/08 recorded sale. but maybe i'm wrong.

ar you're probably not wrong. i've found in my search that many brokers buy pre-construction then jack up the prices for resale. the stratus is a good example of that. i feel bad for him because those days are so over. in a way it's good because these people getting "insider prices" never felt particularly fair to me. it seems like it should be something that is more regulated or made illegal. it certainly contributed to the nyc boom and bust.

yikes a simple search of his name reveals 5 such flips in a relatively short amount of time. at least he made money while he could.

this one's going to be a reach, however. doubling the price. the party's over.

i will resist to cackle with glee

I went through this last year with a listing I liked, the broker did not disclose when we looked at it, in the listings, or the handout sheet at the open house -- that he owned it. But a very brief search in ACRIS showed he owned it. Naturally he was asking more than 3x the price he paid for it, just a few short years ago. Last summer, the consensus here was that his asking price was probably just right. I for one was so turned off that he didn't immediately disclose that he owned it (meanwhile posting he would not co-broke with anyone!! the gall!) really bothered me.

doh that was supposed to say resist the urge....