board requirements for 25 Sutton Place North
Started by sa181
about 7 years ago
Posts: 5
Member since: May 2014
Discussion about 25 Sutton Place South at 25 Sutton Place South in Sutton Place
Does anyone have some recent information about board requirements for buyers in this building? Other discussions about this building say the board is "crazy," and requires 150% of the purchase price in cash, but these posts are several years old at least. I'm seeing quite a few recent sales from 2018 and 2017, so perhaps the board has become more reasonable. Any info would be very helpful!
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While I cannot comment on this particular building, most Sutton Place boards are typically on the strict side. I understand that these are not Park Avenue addresses, but some boards treat their building as such. Do not be surprised if these boards ask for the purchase price left over in post-closing liquidity after your down payment.
Are you using a broker who is knowledgeable with the buildings in the neighborhood?
Look for Latest Discussions at the bottom of this page. Maybe you will find what you are looking for.
https://streeteasy.com/building/cannon-point-north
Thanks for the response ximon. I don't see any posts from less than 3 years ago. I was wondering/hoping that there was some change. Any info would be much appreciated!
Does anyone have more information about the board requirements, lawsuits and how the expansion of the East River walkway will impact this building?
50% down payment , then 100% liquidity after closing
If one is a retiree but also an all-cash buyer, how much liquidity would the Board require?