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April 16, 2007

LeHavre On the Water

LeHavre On The Water, is sitting on 28 acres of land that is located in Northeast Queens or more Leharve commonly know as Beechhurst, New York.  This co-operative development was originally built in 1958 by Mr. Miller and Alfred Levitt (He also built Levittown as well).  Le Havre was originally being used as a luxury rental but then converted to co-operative in 1984. 

Currently, if my records are correct, there are over  1,024 apartments which consist of  280 one bedrooms, 461 two bedrooms and 280 three bedrooms.  This Co-operative building is mainly owner occupied (841 units currently owner occupied), which trust me - makes a difference! 

Some Requirements and things that buyers should know:

  • Is there a Flip Tax? - Well.... see stock transfer fee.
  • Are all buyers to be approved by the board? - No, Not if you are buying a sponsored apartment.
  • Is there a stock transfer fee? - Yes.  $1.00 per share (could be called a flip tax).
  • Is the maintenance tax deductible?  Yes.  34%!
  • Pet policy? - No Dogs.
  • Can I sublet?  - From my understanding - No.
  • Good Credit, DTI ratio not to exceed 36% and minimum down payment 20%.   


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