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Sale at 201 West 89th Street #7G

Started by front_porch
about 9 years ago
Posts: 5321
Member since: Mar 2008
Discussion about 201 West 89th Street #7G
I am the listing agent: Flip tax is 10% of profit, not 10%. SF representation shown is from a prior listing; my firm, Upstairs Realty, is making no SF representation. This is a nonsmoking building. Storage units currently have a wait list. ali r.
Response by 300_mercer
about 9 years ago
Posts: 10577
Member since: Feb 2007

Looks very nice. A unique, affordable 3 bed with maintenance which can not be beat. I think it will sell fast.

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Response by 300_mercer
about 9 years ago
Posts: 10577
Member since: Feb 2007

BTW, why even list flip tax, if it is paid by the seller.

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Response by front_porch
about 9 years ago
Posts: 5321
Member since: Mar 2008

I'm glad you like it 300. I think it's very attractive too, and I expect good traffic.

As far as flip tax, seller questioned why I wanted to bring it up as well. My reasoning is this: I think it's a material disclosure because it defines the buyer's exit.

If you as potential buyer are looking at two similar apartments with identical list prices, and one has a flip tax higher than the other, than I think that can be the basis for a decision to go with the one with cheaper flip -- even if you're not paying it on the way in.

ali r.

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Response by 300_mercer
about 9 years ago
Posts: 10577
Member since: Feb 2007

I like the transom about dining area to bring in natural light.

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Response by front_porch
about 9 years ago
Posts: 5321
Member since: Mar 2008

Architect was Jennifer Swee; I think she did a spectacular job.

Heavy heavy OH traffic, FWIW.

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Response by 30yrs_RE_20_in_REO
about 9 years ago
Posts: 9881
Member since: Mar 2009

I think it is a good idea to list the flip tax: why wait until the deal has been fully negotiated and the buyer's attorney does their due diligence and then gives them an excuse to renegotiate because of a "material undisclosed fact"?

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Response by jelj13
about 9 years ago
Posts: 821
Member since: Sep 2011

Lived in the building for many years and knew the original owner of this apartment. Very nice renovation. I still know people in the building. Moved to another building for a larger apartment because there was too much controversy with the Board.

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Response by front_porch
about 9 years ago
Posts: 5321
Member since: Mar 2008

Contract signed.

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Response by 300_mercer
about 9 years ago
Posts: 10577
Member since: Feb 2007

Nice. Guessing above ask?

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