Gonchar Real Estate
917-734-2231
115 Central Park West - Suite 8A
New York, New York 10017
goncharrealestate@gmail.com
The Cooperator
As we enter the 21st Century, issues of equality continue to be a problem in the United States. As such, government has created a complex set of laws to protect people from discrimination, but the problem has still not gone away.
The Cooperator
As the resale value and demand for cooperative apartments increase and the supply of available units decreases, purchases are facing denials for admission to co-op buildings in record number. There was a time when many co-op boards concluded that if a bank had given a prospective buyer a loan, the board would consent to the sale of an apartment. Co-op boards have since become much more selective about their future neighbors.
New York Times
Q: In New Jersey, can a condominium association charge the same rate to all unit owners even if there are two styles of units, and they are sharply different in size?
New York Times
Q: Are condo sale prices public information? I found a web site that is charging a fee for providing sale prices, but I wonder if there is a free New York City Web site where the same information can be found? How about co-op sales?
Mega Phone
Refinancing an underlying mortgage of a cooperative corporation is a complex, time consuming and expensive transaction. There are numerous tasks a corporation can do to prepare for a successful closing. The following is an outline of what can be done by Board of Directors to pre-qualify the cooperative corporation for an underlying mortgage with a lender.
New York Times
One way a co-op can raise money is by imposing what is commonly called a flip tax. It’s not really a tax—it’s a fee, sometimes totaling tens of thousands of dollars, that must be paid to the co-op when an apartment is sold.