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Sale at 655 Sixth Avenue #3F

Started by 300_mercer
over 15 years ago
Posts: 10723
Member since: Feb 2007
Discussion about 655 Sixth Avenue #3F
Does any one know why the taxes are so high (realize it has no abatement)? In the previous listing they were almost $1000 lower per month. Total maintenance and taxes already at $2per sq feet. Is it the fate of all new conversions? Would love to get thoughts from brokers who have represented buyers for properties with $2 per sq ft in maintenance and taxes? How do the buyers become comfortable?
Response by SkinnyNsweet
over 15 years ago
Posts: 408
Member since: Jun 2006

Don't know about the taxes -- but it is a great rent to buy comparison.

>> Currently occupied through July.31.2011, tenant paying $8250 per month.

Listed at 2.8MM with $4526 of monthlies.

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Response by 300_mercer
over 15 years ago
Posts: 10723
Member since: Feb 2007

Well the rent is likely to go up when they renew but curious what make people buy the properties with such a high maintenance and taxes.

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Response by somewhereelse
over 15 years ago
Posts: 7435
Member since: Oct 2009

It's an "investment". ;-)

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Response by SkinnyNsweet
over 15 years ago
Posts: 408
Member since: Jun 2006

It's not a choice; they were born this way.

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