BACK ON THE MARKET!
Sun-flooded, South East facing 2 bedroom / 1 bath art deco co-op home at 1 West 126th Street.
1 West 126th Street HDFC is a landmark, art deco, pre-war building in Harlem in the desirable neighborhood of Mt. Morris Park. The building has a rich history, and is the former home of legends such as: Eartha Kitt, Billy Eckstine and Della Reese.
The building has an elevator, live-in super and laundry room on-site. 1 West 126th Street is an HDFC income restricted co-op. The annual household income restrictions are determined by 165% of the area median income for 2018 and are as follows:
1 Person: $120,615 Max
2 Persons: $137,775 Max
3 Persons: $154,935 Max
4 Persons: $172,095 Max
Cats are allowed. Sorry, no dogs. It is possible to obtain 90% mortgage financing in the building.
NOTE: 1 West 126th Street HDFC is an affordable housing cooperative and is intended to be a primary residence for all of its owners. The building is NOT INVESTOR FRIENDLY. If you are looking for an investment property, please kindly cross this listing off your list.
With this in mind, there is a STRICTLY ENFORCED FLIP TAX:
95% Flip Tax after 1st Year of Ownership
90% Flip Tax after 2nd Year of Ownership
85% Flip Tax after 3rd Year of Ownership
80% Flip Tax after 4th Year of Ownership
75% Flip Tax after 5th Year of Ownership
50% Flip Tax after 6th Year of Ownership
40% Flip Tax after 7th Year of Ownership
20% Flip Tax after 8th Year of Ownership