"I'm pretty sure that Roosevelt Terrace on 85th betwen 37th and 35th has 3 bedrooms going for that price. The prices are a bit lower in that building because of the flip tax on profit when you sell (I believe). It's extremely well kept, including the basement garbage area - spotless. I don't know anything about the board.
Have you looked at photos on
http://www.jacksonheightsproperties.com/agent/listings.php?username=vsimkhovand
http://www.mpcproperties.com/queenscooplistings.php ?
Also it seems like I have seen some very reasonably priced larger apartments in Southridge and Northridge on Northern Blvd in the low 90s. They may have a high flip tax too. I don't know anything at all about that complex so this isn't a recommendation exactly."
Shelby is correct. Roosevelt Terrace has three bedroom units going for a price closer to $300K which is listed at $339K with one bathroom. The flip tax is 25% upon the sale. You will pay 25% of your profit to the corporation. The co-op is 100% owner occupied.
Shelby neglected to add me on the recommendation list, so I'll market myself. Why not? LOL. You can look at my listings under Marlene Flores on the Century 21 Best website, call me at 917-208-6709, or email me at
marleneflores25@yahoo.com. I am a member of the MLS (Multiple Listing Service) and can provide you with many listings in and around our beautiful Jackson Heights community.
As Shelby indicates, there are as well reasonably priced larger apartments in Southridge and Northridge in the low 90s, with I believe, a 25% flip tax as well. I'm hoping that a good real estate agent, and we have many in the community will be able to assist you with your search. If you would like to contact MPC or Vladimir as Shelby has recommended that is a good option, or you can contact me and/or others in our community who are experienced in real estate. Many of us work together and try to assist each other. Some are members of the MLS and some are not. The MLS gives you a greater advantage, as many of the properties are listed on that site.
I thought it would be helpful for you to have the information below, as I am selling units at The Roosevelt Terrace:
Below are the FINANCIAL QUALIFICATION OF ROOSEVELT TERRACE APPLICANTS
1. Applicant (s) must have an annual gross income of not less than three times the total annual cost of maintenance plus mortgage payments for the proposed purchase.
2. A minimum down payment of20 per cent of the purchase price is required (10% at contract, balance at closing).
3 Monthly debt obligations, such as credit card and car loan repayments, installment loans, child support, alimony, and the monthly maintenance and mortgage payments for the proposed apartment must not exceed 36 per cent of monthly gross income.
4. In addition to the down payment, applicants must have suffcient liquid assets to cover six (6) months of maintenance and mortgage payments at the closing.