Stay away from this one
Started by beholder
about 16 years ago
Posts: 113
Member since: Dec 2008
Discussion about
50 west 106 in Manhattan Valley: an HDFC (couldn't tell from the brokers' shpiel); probably corrupt because flagged by the NY tax agency; run like a medium-security prison by a giant entrenched board and incompetent management. The board allows families of 4, with children, to live in a 540sf one-bedroom; the building is overcrowded for its old bones and minimal services. An ex bought in there recently and is ready jump out the window.
"An ex bought in there recently and is ready jump out the window."
So, if you are worried about your ex jumping out the window, I take it you are the one RECIEVING alimony, because if you were PAYING, the jump might be a good thing.
FYI..If you really want to trash a building, best to post multiple times and mention mouse infestations.
There are mice in NYC? I thought that was an urban myth, like alligators in the sewers. And fully grown tigers in public housing in Harlem.
http://gothamist.com/2003/10/06/tiger_tiger.php
Jim, no reason to assume ex-spouse; "an ex" is most likely an ex-boy/girlfriend, no reason to assume alimony is involved.
jimstreeteasy, do you live there? My condolences, baby.
I don't live there.
One would have thought that this many people living in a few square miles using all manner of chemicals to clean their abodes and themselves would have killed all living things. But mice are resilient. I saw a squirrel or two in Tompkins park that was the color of a rat.
whatever happened to palimony?...
beholder, are you sure you mean 50 W. 106th? That's a 16-story prewar doorman building, and doesn't seem to be HDFC. I've been in it in the past, and it seems very well-run.
As for families of 4 in 1BRs, while not ideal, it doesn't seem so wrong for an affordable-housing coop.
Was looking it up yesterday. The co-op's corporate name includes "Housing Development Fund", so is/was HDFC. (No clue what that implies.)
Apparently the city took it for taxes a long time ago, as there're deeds from the owners to the finance dept, from them to NYC, from them to some agency, and finally to the co-op.
alanheart, 50 w 106th is HDFC. Managed by David Associates. Call them.
NWT: it implies income restrictions, weird boards, artificially lowered maint., difficulties in re-sale, and the cherry on the cake -- 15% flip tax. The minute they tweak the HDFC thing, the maintenance goes up 200%.
There are some weird HDFC-esque co-ops out there. The Grinnell, 800RSD, is such a beast. Apts there can go for 1m+, yet there is an income restriction in place (I was told that there was some tax benefit to the building). This isn't right, obviously for 1m+ apts to have this kind of tax benefit (w/o at least the sop of buying abatements).
What's more, there shouldn't be any tax benefits for a building where there are no more "original" buyers (who got the apartments for $500). Once there are resales, no tax benefits. Somehow we're paying for thus.
Especially with this new property tax jump.