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board requirements for 25 Sutton Place North

Started by sa181
about 7 years ago
Posts: 5
Member since: May 2014
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!
Response by JSM31
about 7 years ago
Posts: 34
Member since: May 2017

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?

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Response by ximon
about 7 years ago
Posts: 1196
Member since: Aug 2012

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

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Response by sa181
about 7 years ago
Posts: 5
Member since: May 2014

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!

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Response by Curious21
over 4 years ago
Posts: 0
Member since: Aug 2020

Does anyone have more information about the board requirements, lawsuits and how the expansion of the East River walkway will impact this building?

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Response by Admin2009
over 4 years ago
Posts: 380
Member since: Mar 2014

50% down payment , then 100% liquidity after closing

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Response by Inquiry2022
over 3 years ago
Posts: 3
Member since: Apr 2022

If one is a retiree but also an all-cash buyer, how much liquidity would the Board require?

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