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Neighborhood Chat / Thanksgiving Wine Tasting starts at 3:30
« Last post by ABWinery on Yesterday at 01:34:04 PM »
Happy Thanksgiving everyone!! Yes, we are open. Yes, we have wine tasting and it starts at 3:30!
Neighborhood Chat / Re: Demolition Planned For Defunct Jackson Theater
« Last post by Breezie on Yesterday at 01:00:58 PM »
I'm wondering if they are the same developers who bought the gas station  on Roosevelt  Avenue betw 91-92 street.
Neighborhood Chat / Re: Demolition Planned For Defunct Jackson Theater
« Last post by jmcinty on Yesterday at 11:32:56 AM »
I agree w/ Jeffsayyes you cant force developers, but you an provide tax and zoning incentives to ensure that meaningful and useful economic development occurs within communities. 

Its takes bold leadership and creativity to ensure this type of development can occur.  Unfortunately, rarely are their effective arbitrators to ensure a true balance between communities and development, and profit and essential services.

Hopefully the DOE or the City jumps on this opportunity with Sun Equity, if an alternative solution is not found with regard to preservation.

From the Jackson Heights Post

"Alani said Sun Equity wants to bring in a combination of national retailers and local mom and pop shops and that several local businesses have already reached out and shown strong interest. They are open to community suggestions and are “trying to bring tenants that will improve the neighborhood,” he added.

If a larger tenant, such as a school or hospital shows an interest, Sun Equity Partners may consider creating a community-use building, up to six stories as opposed to only two, and housing classrooms or medical offices on the upper floors. Tress said that the basement may be used for retail.

Alani said that Sun Equity has reached out to the Department of Education to see about putting in a public school or charter school, as well as Elmhurst hospital."

Restaurants & Food / Re: Craft Beer in JH
« Last post by Jeffsayyes on Yesterday at 10:19:12 AM »
Inasal is soooooo good with their beer list. They have a 6 for $30 option, or something like that. Very cool. Although it's not as outwardly social, I love drinking at tables with friends instead of at the bar.
Neighborhood Chat / Re: Demolition Planned For Defunct Jackson Theater
« Last post by Jeffsayyes on Yesterday at 10:16:55 AM »
The refurbished theater in Brooklyn cost $90 million and was such an exception to the rule of what happens in NY. I really don't think we should be jealous at all, and rather celebrate it. It was/IS a movie palace and is much greater in so many ways that the 82nd Street theater. The Valencia in Jamaica is now a church (much more profitable than a movie theater). I've only seen pictures and heard the tales but the RKO Keith is on a similar level but not as high as the Valencia or the Kings Theater.

The 82nd Street is just too good real estate to use as a movie theater. And from what I understand, you can't force preservation on an owner. It's definitely an amazing place but it's a relic. The last owner paid about $1000 A DAY. Always seemed insurmountable to me.

You can see a list of movie palaces here:
Neighborhood Chat / Addictive Coffee
« Last post by ABWinery on Yesterday at 09:26:47 AM »
Happy Thanksgiving neighbors!!

Addictive Coffee is open for business. Start off your day with a farm fresh coffee and a French pastry!
We open from 9 am to 4 pm today.
Neighborhood Chat / Re: Any local Senior Tai Chai classes?
« Last post by MinorIon on Yesterday at 08:39:51 AM »
Funny--I'd been wondering just this same thing.

Count me in as someone else in Jackson Heights who'd be very interested in local Tai Chi classes.
Neighborhood Chat / Re: fatal hit and run on Roosevelt
« Last post by MinorIon on Yesterday at 08:36:58 AM »
Awful. We all - pedestrians and drivers - need to be careful. I can't count how many times I've been driving down Roosevelt at night and have nearly hit a pedestrian who walks out in the middle of the road, crosses against the light, or crosses in the middle of the street. My condolences to the families involved

I can't believe this victim-blaming stuff is in a thread about a drunk driver killing someone and then fleeing the scene of the crime.

This is what happened here:
Romulo Mejia, 43, of Bradenton, Fla., swerved over double yellow lines, jumped a curb, and hit Fernando Dorado, 38, flinging his body 115 feet as he walked across the intersection of Roosevelt Avenue and 92nd Street at 4:30 a.m. on July 5, 2014, police said.

Please tell me how the victim should've been more careful here.

At least in this rare instance a bit of justice was meted out.
Neighborhood Chat / Re: fatal hit and run on Roosevelt
« Last post by toddg on Yesterday at 12:38:18 AM »
(Update over a year later).... These cases aren't prosecuted successfully as often as they should be, but at least in this case there has been some measure of justice:

Florida Man Gets Up to 8 Years in Prison for Fatal Roosevelt Ave. Crash (DNAinfo, 11/24/2015)

Safe travels for Thanksgiving, everyone.
Real Estate & Home Improvement / Re: Coop flip taxes
« Last post by agentarmen on November 25, 2015, 08:21:41 PM »
I think to properly answer your question Steven is to address the fact that Flip tax is not iposed but rather voted in (and sometimes out) by shareholders of the coop that a seller is part of. The seller is typically responsible for payment of the flip tax unless otherwise negotiated. It is for the need/purpose of adding to the building’s reserve and in some cases to discourage early resales.

I am active in both Manhattan and in Jackson Heights, and I have to say that Flip taxes and structure are different across the board. 2-3% is not typical, but rather a number indicative of the number that most mortgage lenders find acceptable. But neither in Manhattan or Jackson Heights there is a rule of thumb or any commonality. Remember, flip tax is instituted by some coops on AS NEEDED basis.

Now, calculations of flip tax can varie.

1.   Worth mentioning, many building have NO flip tax
2.   Another type of calculation is based on percentage of gross sale
3.   Percentage of GAIN made on the unit
4.   Dollar amount per share
5.   A flat transfer fee
6.   Some flip taxes are lateral. They start at a higher number for a set number of years, then drop to a lower number or be reduced to zero.

I don’t want to rattle off my knowledge of which Jackson Heights buildings do or don’t have a flip tax and of what type, even as an example, because they may vote one in or out just as I am writing this, rendering my information inaccurate 
My recommendation would be to study each building individually, and ultimately pick a corporation you feel comfortable and confident investing in. Flip tax is only one of many factors you must consider. I hope this helps.

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