It grew 600SF

Crazy!! Does the listing broker not worry about being sued by the buyer? Also, most buyers will know the previous listing and will be pissed off at lying. Buyers may ignore in a strong market but this price point has too much supply.

What do you think is the real square footage on all three levels? Does not even seem 7500.

The prior owner went to prison for 12 years. The extra 600 sq ft is perhaps where he kept the illicit gains from stock frauds. Prior "sale" was US Marshall asset forfeiture that effectively turned property over to lender

Wow!!

According to the 4th amendment to the condo declaration (Jan 2006), unit 2 and unit 2C (commercial) were merged to be called 1/2C.

as per the declaration
cellar - 2707 sq ft
1st floor 2364 sq ft
2nd floor 1999 sq ft

total 7070 square feet

13% sq footage creep well above the industry standard of 8% square footage exaggeration :)

for those interested in further digging on acris as the standard search doesnt seem to hit, its block 00212 lot 1003

Thank you. So really 4400 sq ft plus 2700 sq ft cellar where a full bath may not be allowed.

wow taxes in 2012 were $11K now they are $25K! That is criminal.

Indeed. This is govt taking away your property in an increasingly left leaning city.

Some thing seems odd with $25k taxes. Perhaps a mistake.

just looked it up at nyc finance it appears correct

It appears to me that the last tax bill before the federal government took ownership (and thus owed no tax) was about $87K. It will be higher

Account History Summary
Year Period Charge Type Due Date Interest Begin/Process Date Charge Paid Balance
2019 3 TAX 01/01/2019 174,588.44 -174,588.44 0.00
2019 1 TAX 07/01/2018 01/01/2019 119,194.98 -119,194.98 0.00
2017 3 TAX 01/01/2017 0.00 0.00
2017 1 TAX 07/01/2016 158,353.50 -158,353.50 0.00

https://a836-pts-access.nyc.gov/care/datalets/datalet.aspx?mode=acc_hist_summ&sIndex=3&idx=1&LMparent=20

I believe it will clearly be candidate for tax commission protest and the taxes will get reduced. Taxes are based on this condo renting for $120k per month.

You can't really do an individual tax protest on a condo unit. It's based on the valuation of the entire building and then you get your portion based on percentage of common interest. But back when the building went condo, commercial units were valued much higher. So this unit is probably a victim of the commercial unit which was incorporated. Remember this building was a very early conversion and i think the first condo in Tribeca.

The "highest and best use" is probably to turn this unit into a restaurant. I'm sure is would get that kind of rent (what was the name of the restaurant which used to be in this building?) I don't think the city cares if the building doesn't want another restaurant in it when is comes to how much tax they can collect.

You can as you own “real property”. You just have to file separately from the rest of the condo and notify the condo beforehand.

"Go ahead and try and see what happens"
- Former tax commission judge I just spoke to under condition I didn't use his name.

Did he say that you can indeed file separately for the rest of the condo and giving suitable notice to the condo?

In that you have to go to Supreme Court as it is clear case of usurpation of private property by state. This thing is not going to rent for more that 25-27k per month. So very clear lawsuit.

Separately from.

Take a rough guess at how much a Supreme Court case is going to cost and at the end you probably won't win because they will probably be under huge pressure politically because it would overturn the entire way taxes are calculated on all condos.

And it will take a decade.

And that's if they don't throw you case out because there's a process for challenging assessments which is the Tax Commission.