[Fredslist] 2 questions for a NYC real estate and maybe tax attorney:

[Phyllis Dubrow]

Hi, Gotham -

 

Questions from 2 different clients:

 

1.       Client is selling her deceased brother's HDFC in Harlem.  She's
gotten 2 offers above her asking price of $595,000 and one at $550,000 - all
from well qualified buyers.

  

The board president hinted that the board won't approve anything above
$400,000 because they're resisting the trend toward gentrification.  

 

It seems that Seller submits 3 offers to the board for approval of one even
before there's a contract of sale.   

 

Question:  Does the Seller have any recourse if the board rejects all 3, or
if the board approves the lowest offer?

 

 

2.       A different client bought an 8-unit condominium unit from the
sponsor 10 years ago, when there was a 5-year abatement of real estate taxes
that was reduced gradually.   

 

After getting large tax bills the last couple of years, she checked out her
taxes vs. the other unit owners' - and realized that she's paying 3 times
what other unit owners are paying for comparable units.  The comparison
bears no relation to the allocation of the percentage of the common elements
-- which the common charges is based on.  She suspects that the sponsor's
unit are getting an advantage.  

 

My client asked the president of the condo association how to get her unit
re-assessed, and he told her that he has no interest in getting involved.  

 

Question:  Is this a tax certiori project, and can anyone suggest who can
help?  

 

   Thanks for any advice for either of these.

 

Best,

Phyllis

 

Phyllis E. Dubrow | Attorney at Law

60 East 42nd Street, Suite 4600 | New York NY 10165

T: (212) 661-2885 | F: (212) 409-8682

 

 

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