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Saturday, 19 March 2011 14:12

501 West 156 Street HDFC Featured

Written by  John Suarez
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Coop for sale on 156 Street, Manhattan

Descalating FLIP TAX!!

Bright and Airy 2 bedroom in a fantastically maintained Glossary Link HDFC coop property. This unit has very high ceilings with a gorgeously renovated bathroom and kitchen. The unit was converted from a 3 bedroom to a 2 to give it an even larger feel. The master bedroom has a double entry from the hallway and living room with double-wide french doors. The master bedroom also has california style closets. The floors are hardwood throughout and every room is windowed. The ceramic kitchen offers space and all recent model appliances. The bathroom has a classic claw foot tub with a quaint and efficient vanity. The second room is a bit on the smaller side but it can definitely be used a bedroom, home office or a den. The living/dining room combo works well in this extremely bright apartment; it offers both the convenience of hosting and dining with the pleasure of relaxing and resting.

This HDFC building is financially solid with no outstanding Glossary Link debt. The entry foyer and hallways are impeccably clean. This is also a majority own property with a great community of owners. HDFC income restricted 120% median income cap building and the 2011 guidelines are: $68,775 for 1 and $78,600 for 2 in household.

This building has a descalating flip tax. The longer you reside in the unit the less the percentage at the time of resale.

  • Residential: Multi-Family Walk-up
  • Owner: 50 WEST 156 STREET HDFC
  • Block: 2115 Lot: 40
  • Property Characteristics: * Lot Area: 6,615 sq ft (52.92' x 125') * Year built: 1930 (Year built is an estimate) * # of floors: 6 * Building Area: 30,134 sq ft * Total Units: 35 * Residential Units: 32 * Primary zoning: R7-2 * Commercial Overlay: C2-4 * Floor Area Ratio: 4.56 * Max. FAR: 3.44

Asking Price: $350,000

Last modified on Tuesday, 23 December 2014 10:29
John Suarez

John Suarez

John has garnered the respect of his clients and colleagues in the short time being in the industry. A native New Yorker who spent many years in the financial services business John is always seeking to bring together buyers and sellers. My cell 917.378.7332

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