The townhouse known as The Saint House in East Harlem was first up on the market for the asking of $1.95 million back in January and finally went into contract this month after a price reduction to $1.775 million back in March. Located just west of 2nd Avenue, the 4-story building has a lower level commercial space used as a gallery, the 2nd floor is an artist studio with the aforementioned saints residing and the top two floors consist of a duplex. With 4,910 square feet of space, this is a pretty substantial adaptive reuse building and is only a couple of blocks away from 110th Street Station on Lexington Avenue. More details and photos on the broker site:
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Taxes are apprx $30,000 per year on the property. Not sure how anyone could pay close to asking with this tax load. When I looked at the property, I made a 400,000 adjustment in my thinking to cover the cost.
ReplyDeleteNice place - just don't get the tax situation.
Paul, when you are on a tax abatement, any idea how to find out what you might be paying (approx.) in taxes when the abatement expires (in 1 year)? Thanks.
ReplyDeleteIt's on property shark - I assume they pull the data from the NYC Dept of Finance.
ReplyDelete