Author Topic: Carlton House - your feedback  (Read 12040 times)

Offline amarrajwani

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Carlton House - your feedback
« on: April 09, 2010, 08:34:54 PM »
Hi jhlife,

My wife and I are about to enter contract on a Junior-4 in the Carlton House. From everything I've seen (three visits to the apartment itself and 3 years of living on the next block), the building is attractive inside, maintenance staff are active, and the outward appearance of building and grounds is high priority. I know there were past issues with ATM Management, but now they are using All Area.

Appearances can be decieving, as they say, so I'd like your feedback on life in the Carlton House before we take the final plunge. We're also planning to take an available garage parking spot, so if you park at the Calrton, please share.

Thank you.

P.S. - We will be renovating, including some structural changes to the apartment. Please share if you have experience in getting your renovations approved by the board. We've hired an architect.

Offline felixdls

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Re: Carlton House - your feedback
« Reply #1 on: April 11, 2010, 08:56:47 AM »
Hi potential new neighbors,
My girlfriend and I have been living at the Carlton House since December. Everything you have seen is true. The doorman is great and the staff is excellent. We do have a parking spot which we received quickly through the super. When concerning renovations, when we moved in we only painted and did minor things so we didn't need approval from the board. By the way, is your apartment on the first floor.
                                                                                                                                                    Good Luck!

Offline amarrajwani

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Re: Carlton House - your feedback
« Reply #2 on: April 11, 2010, 03:48:35 PM »
2nd floor, looking towards 86th Street. I'm concerned about the flip tax since we don't plan to live there forever (3-5 years). I hear it is 10%!

Offline CRABBYPATTY

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Re: Carlton House - your feedback
« Reply #3 on: April 11, 2010, 10:15:46 PM »
10% flip tax that's insane!!!!!  There is no way I would move into such a greedy building........... :tickedoff: :tickedoff:

Offline amarrajwani

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Re: Carlton House - your feedback
« Reply #4 on: April 11, 2010, 11:06:29 PM »
I have to find out if its true; I only read about it somewhere on this site. When I get the offering plan, etc. I will post again to confirm

Offline Mike V

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Re: Carlton House - your feedback
« Reply #5 on: April 12, 2010, 04:37:27 PM »
It's true.  The flip tax is 10% of purchase price and you can't add on the costs of renovations.  I wouldn't be too concerned since it's unlikely you'll see a huge profit in 3 to 5 years.  It's the owner's who purchased one bedroom's in the $20's and 2 Bedroom's in the 60's (I know of both) who need to be concerned.  I lived at the Charlton for 2 years and left behind $11,500 (profit was $115,000) and I had no complaints.  I knew going in of the 10% flip tax.  Roosevelt Terrace nearby has a 25% flip tax. 

Offline Shelby2

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Re: Carlton House - your feedback
« Reply #6 on: April 12, 2010, 05:05:24 PM »
It's true.  The flip tax is 10% of purchase price and you can't add on the costs of renovations.  I wouldn't be too concerned since it's unlikely you'll see a huge profit in 3 to 5 years.  It's the owner's who purchased one bedroom's in the $20's and 2 Bedroom's in the 60's (I know of both) who need to be concerned.  I lived at the Charlton for 2 years and left behind $11,500 (profit was $115,000) and I had no complaints.  I knew going in of the 10% flip tax.  Roosevelt Terrace nearby has a 25% flip tax. 

I thought I had heard the Roosevelt Terrace's flip tax was on profit only, but I could be mistaken.

Offline amarrajwani

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Re: Carlton House - your feedback
« Reply #7 on: April 12, 2010, 06:40:40 PM »
I found out that the ten percent is on profit only.

In other words, if we buy a co-op for $250,000 and later sell it for $280,000, the flip tax would be $3,000, not $28,000.

That seems very reasonable.

Offline Mike V

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Re: Carlton House - your feedback
« Reply #8 on: April 13, 2010, 06:47:04 AM »
Sorry, I meant 10% of PROFIT.  Most don't consider this reasonable when you have to add in broker commissions plus other closing costs such as transfer taxes.  I sold in two days using Craigs List so avoided brokers fees.  Yes, Roosevelt Terrace is 25% on profit also. 

Offline Griswold Contessa

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Re: Carlton House - your feedback
« Reply #9 on: April 13, 2010, 09:07:36 AM »
I think that its fair for the co-op to share the profit.  That said, if I take a loss on the property, will the co-op pay me ten percent of the loss?  ;)
One day your life will flash before your eyes. Make sure its worth watching.

Offline amarrajwani

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Re: Carlton House - your feedback
« Reply #10 on: April 13, 2010, 10:51:56 AM »
Haha - now THAT'S fair!

So Carlton is open again as a possibility, but where we really want to live is the Griswold.

So I'm curious about your screenname, Contessa.

Amar

Offline Shelby2

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Re: Carlton House - your feedback
« Reply #11 on: April 13, 2010, 11:22:48 AM »
Haha - now THAT'S fair!

So Carlton is open again as a possibility, but where we really want to live is the Griswold.

So I'm curious about your screenname, Contessa.

Amar

If you really love the Griswold, why not just wait for an appropriate unit to become available there?

Offline MarcusW

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Re: Carlton House - your feedback
« Reply #12 on: April 13, 2010, 01:57:09 PM »
If you really want the Griswold...I'm not sure what you're looking for, but it looks like there's a 1 BR and a 2 BR for sale in the Griswold now:
1BR: http://www.zillow.com/homedetails/photos/2132924387_zpid/
2BR: http://www.mlsli.com/unidetails.cfm?mlnum=2272834&typeprop=1&bn=1&CFID=15440209&CFTOKEN=28103703

I'm sure there are several realtors on this board who will be happy to help you...
- MW

Offline Griswold Contessa

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Re: Carlton House - your feedback
« Reply #13 on: April 14, 2010, 12:39:35 AM »
Well now Amar you might be in luck we have three 2 bedrooms apartments presently on the market along with 2 large one bedrooms.  For more details shoot me an e-mail.

- Contessa

Haha - now THAT'S fair!

So Carlton is open again as a possibility, but where we really want to live is the Griswold.

So I'm curious about your screenname, Contessa.

Amar
One day your life will flash before your eyes. Make sure its worth watching.

Offline wv11372

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Re: Carlton House - your feedback
« Reply #14 on: May 02, 2010, 09:58:42 PM »
Hello.  Just saw your posting.  Not sure of your apartment status, but I bought in the Carlton 2 years ago and am really happy here.

The reno on the lobby & 1st floor turned out very nice.  (I hear a resident took on the *unpaid* job of designer and contractor herself.)

The grounds in front are very nice.  Out back is less landscaped but nice nonetheless.

The staff is super nice and seemingly never idle.

All Area mgmt company is an improvement over ATM.

I don't utilize the bldg's parking so can't help you there.

Good luck!

Jackson Heights Life

Re: Carlton House - your feedback
« Reply #14 on: May 02, 2010, 09:58:42 PM »