Post Closing Liquidity

If you have to ask...; )

∞%

Isn't the question what multiple of the purchase price is required to be sitting in your bank account?

I believe that is correct. It's been awhile, but we looked at a $2.5MM apartment (coop) on CPW, and as I recall you had to have 5MM in liquid assets after purchase. We looked at another, same caliber building if skewing a little less "important" and there were 2X as well.

2x purchase price is indeed very onerous. But UWS is still very much in demand relative to other locations looking at resales market pulse from Urbandigs. And high flip tax paid by the buyer!! Crazy.

3.5 percent flip tax in this listing.
https://streeteasy.com/building/the-san-remo/phc?context%5Bcontroller%5D=%23%3CBuildingController%3A0x000056204c1931c0%3E&context%5Bcurrent_user%5D=1004028&hide_if_empty=true&section=sales

Maybe this is correct with San Remo, but I understood that El Dorado was much more lenient--and that many non-CPW UWS coops (still very nice ones) only called for 2 x annual maintenance.

There's such a range. The last nice non-CPW UWS co-op I put a buyer in required .35X post-closing liquidity.

ali r.