CLICK THE MENU ITEM ABOVE FOR A MORE COMPLETE HISTORY OF THE FOLLOWING AREAS:
THE WEST VILLAGE: There is no neighborhood like the West Village (Greenwich
Village, the village). Its a diverse neighborhood that has a life of itself,
flowing with artists and musicians, and actors.
In the mid-19th century, however, as the city spread north of 14th Street,
the Village became the province of immigrants, bohemians, and students (New
York University [NYU], today the nation's largest private university, was
planted next to Washington Square in 1831). Its politics were radical and
its attitudes tolerant, which is one reason it became a home to such a large
lesbian and gay community.
ABOUT SOHO: Starting at Houston (pronounced how-ston) Street, walk south down Broadway, stopping to browse the stores and vendor stands between Houston and Prince streets. The sole remaining museum on the block is the New Museum of Contemporary Art, devoted exclusively to living artists. Within the Prada store at 575 Broadway, Dutch architect Rem Koolhaas has created a high-tech setting for the Italian house of fashion. Several art galleries share these blocks as well, most notably at 568 Broadway, which houses 10 galleries, and the trendy Armani Exchange store on the ground level.
ABOUT CHELSEA: As Broadway marches north and west across Manhattan it Chelseaforms a series of squares beginning with Union Square at 14th Street. The square itself hosts a popular Greenmarket, and before Christmas, a crafts market. In this neighborhood are some of the city's trendiest restaurants lining Park Avenue South up to 23rd Street. Madison Square, the site of the original Madison Square Garden, is dominated by the Metropolitan Life Insurance Tower and the Flatiron Building (20-stories and triangular). It was once the end of "ladies mile," the city's most fashionable shopping district along Broadway and Sixth Avenue; this area still has great shopping. To its east is Gramercy Park, a small, fenced park acessible only to residents of its surrounding townhouses. Theodore Roosevelt was born in this neighborhood.
The following has bee taken from various reliable sources. The figures may or may not be accurate at the time of your purchase but it is a good rule of thumb to follow if you are planning on purchasing a co-op or cond in New York City. We cater to the European Investor. |
|
| For Seller - CO-OP | |
| Broker | 6% |
| Seller's Attorney | $1,300.00 and up |
| Co-op Attorney | $400.00 and up |
| *Flip Tax | $1% - 3%of purchase price |
| Stock Transfer Tax | $0.5 per share |
| *Move-out Deposit | $500 - $1,000 depending on co-op |
| New York City Transfer Tax | $1% of gross purchase price if $500,000 or under |
| $1,425% of gross purchase price if $500,000 or over | |
| New York State Transfer Tax | $2 per $500 of purchase price |
| Payoff Bank Attorney | $300 and up |
| For Purchaser - CO-OP | |
| Purchaser's Attorney | $1350 and up |
| Bank Fees | |
| *points | 0 to 3% |
| *application, credit & appraisal | $400 - $600 |
| *bank attorney | $45- - $600 |
| *UCC - 1 filling fee | $20 |
| *Move-in Deposit | $500 - $1,000 |
| Lien Search | $300 (this is for a title search) |
| Mansion Tax | 1% of price when price exceeds $1,000,000 |
| Maintenance Adjustments | up to one month |
| * Where applicable | |
| For Seller - CONDO | |
| Broker | 6% |
| Own Attorney | $1,350.00 and up |
| Managing Agent Fee | $450.00 and up |
| *Move-out Deposit | $500 - $1,000 |
| New York City Transfer Tax | $1% of gross purchase price if $500,000 or under |
| $1,425% of gross purchase price if over $500,000 | |
| New York State Transfer Tax | $2 per $500 of purchase price |
| Misc. Title Company Fees | $100+- |
| Payoff Bank Attorney | $300 and up |
| For Purchaser - CONDO | |
| Title Insurance | Approx. $650 per $100,000 |
| Recording Fees | $250 - $350 |
| Attorney | $1,350 and up |
| Managing Agent Fee | $400 and up |
| Mansion Tax | 1% of price when price exceeds $1,000,000 |
| Common Charges | up to one month |
| Working Capital Funds | one month or more |
| Move-in Deposit | $500 - $1,000 |
