LeHavre On The Water, is sitting on 28 acres of land that is located in Northeast Queens or more 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%.