Feral- did you pay your own transfer taxes or did the seller? If you paid the transfer taxes and the price of the home was $999K you should have paid a mansion tax.
New York City and New York state transfer taxes that amount to 1.425% and $4.00 per thousand of the purchase price. At $999K your transfer taxes would amount to a bit over $18K which would make the taxable sale price over $1M.
Original poster, feel free to check with a real estate attorney to verify the correct answer.

I agree, pay the mansion tax, $10K is not the biggest sum you will have to pay during the transaction.

Posted by: PHfamily at November 11, 2009 1:50 PM in response to Mansion Tax

The mansion tax is 1% of the purchase price.

Posted by: PHfamily at November 11, 2009 10:05 AM in response to Mansion Tax

The above poster in incorrect.
The price would actually have to be about $980K to avoid the mansion tax....the $1M figure includes purchase price and taxes.

Posted by: PHfamily at November 11, 2009 8:43 AM in response to Mansion Tax

I thought a lot had to be 40 feet wide to be considered for a curb cut....could someone get around that?

Posted by: PHfamily at October 27, 2009 10:36 AM in response to 97 St. Marks Avenue Update

I thought a lot had to be 40 feet wide to be considered for a curb cut....could someone get around that?

Posted by: PHfamily at October 27, 2009 10:24 AM in response to 97 St. Marks Avenue Update

We have an almost identical mantle in our Prospect Heights home. We stripped the varnish off and left the wood in its natural color--- the details really popped.

Posted by: PHfamily at October 26, 2009 8:32 AM in response to 1886 Cherry Wood Mantel for Sale

368 Park Place has been on the market for well over a year....I would bet that there is some room for price negotiations

Posted by: PHfamily at October 23, 2009 1:45 PM in response to Open House Picks

We love our 30" electrolux

Posted by: PHfamily at October 19, 2009 6:12 PM in response to Help with stove/range

My appologies, heating season starts on October 1, but with these guidelines:
Heat (During the heating season, October 1 through May 31)
* Between 6 a.m. and 10 p.m., heat must register at least 68 degrees Fahrenheit when the outside temperature falls below 55 degrees;
* Between 10 p.m. and 6 a.m., heat must register at least 55 degrees Fahrenheit when the outside temperature falls below 40 degrees.

Posted by: PHfamily at October 5, 2009 8:53 AM in response to Broker Rented Us an Illegal Unit

Heating season starts on October 15th.
Did you call to set up your gas/keyspan account--maybe this is why the stiove isn't working???

Posted by: PHfamily at October 5, 2009 8:51 AM in response to Broker Rented Us an Illegal Unit

I'd say go with the standard. We bought thinner countertops once and the dishwasher couldn't be screwed in successfully.....

Posted by: PHfamily at October 5, 2009 8:35 AM in response to Width for Counter Top

Bill did a great job for us as well. His quoted price remained the same, the job (replacing all treads and risers on one flight of stairs) was done is less than two days. He was very nice to work with….and we found him to be very honest…..

Posted by: PHfamily at October 5, 2009 8:22 AM in response to Good Stair Guys?

We loved working with Phill too!

Posted by: PHfamily at September 25, 2009 9:12 AM in response to Recommendation - Phils Air

Seems cheap. We paid $600 for marble top with one opening 42X 23- with installation.

Posted by: PHfamily at September 25, 2009 8:21 AM in response to Cost of Marble Vanity Top

Landmarking was calendared on July 15th 2008. Once Landmarking has been calendared you need to go through the motions of LPC even if the area hasn't been formally granted LPC status....at least that was the impression I have from all of the LPC material I have read.

Posted by: PHfamily at September 23, 2009 11:39 AM in response to A Curb Cut on Landmarked St. Marks Avenue? Really?

Sorry to offend. When you make yourself public (ie. Facebook), you make yourself public. Not sure what I did was any worse than a blog posting all information regarding the permits which lists the home owner’s name.
I googled the owner more out of curiosity about the decorative artist component, but facebook was all I found…
Anyway, the curb cut is a terrible thing....

Posted by: PHfamily at September 23, 2009 11:26 AM in response to A Curb Cut on Landmarked St. Marks Avenue? Really?

It would be a shame to destroy the front of the house and what looks like an original fence.
How is the curb cut legal? Does DOT have to sign off on such things?

Posted by: PHfamily at September 23, 2009 10:44 AM in response to A Curb Cut on Landmarked St. Marks Avenue? Really?

We used flatrate two times and felt that they were very professional

Posted by: PHfamily at September 23, 2009 8:01 AM in response to ISO Great Moving Company

My understanding is that once landmarking is calendared you have to notify LPC of changes....notify them right away. The next question is will their curb cut be legal????

Posted by: PHfamily at September 23, 2009 8:00 AM in response to DOB v. Landmarks

We bought the Electrolux dual fuel in January and love it....it also has a small drawer oven which will be handy over Thanksgiving. We looked at Sears and bought at J&R on 7thavd and President Street.

Posted by: PHfamily at September 21, 2009 6:15 PM in response to Range Suggestions (Part 2)

tlkaimal, why don't you advertise elsewhere?

Posted by: PHfamily at September 14, 2009 9:30 AM in response to Choosing a Tenant?

I second Phil....his team did a great job on our 4 story

Posted by: PHfamily at September 12, 2009 11:15 AM in response to A/C Guru Wanted

Are the taxes listed at $200 from the offering plan? If so those rates would be basedon nyc tax rate from the date the OP was written, not based on current rates.....just make sure.

Posted by: PHfamily at August 30, 2009 6:15 PM in response to Condo/Self-Managed Bldng

If you need an iron guy I would highly reccomend AJ iron works on Carroll Street....

Posted by: PHfamily at August 30, 2009 4:01 PM in response to Pesky window bars

I would use bookcases or wardrobes to create most of the "wall" and install a heavy curtain as a "door".....

Posted by: PHfamily at August 27, 2009 8:31 PM in response to Ideas for closing off an alcove

You can file a formal complaint with the Department of State

Posted by: PHfamily at August 24, 2009 2:41 PM in response to Reporting a Realty Company

Friends of ours are trying to rent out this two bed in Prospect Heights:
http://newyork.craigslist.org/brk/abo/1338488963.html

It is very nice as garden level apartments go.....

Posted by: PHfamily at August 24, 2009 1:44 PM in response to Rental Picks: Prospect Heights

Yes, Earth and Fire--it is called Pacificana...it is great!

Posted by: PHfamily at August 23, 2009 6:23 PM in response to Best chinese restaurant in BKLN

We have ordered our Silestone at Home Depot for three different projects. They were always easy to work with. Low end prices can run about $50-ish a foot high end can run close to $90 a square foot. They also have a thinner version that may run cheaper, but I wouldn't recommend it if you have to attach a dishwasher to the counter. We absolutely love our Silestone. It wears so well and is so easy to clean. Good luck!

Posted by: PHfamily at August 20, 2009 8:24 PM in response to Caesarstone or Silestone?

Wouldn't the F/G trains rumbling by on 9th be too loud????

Posted by: PHfamily at August 12, 2009 4:21 PM in response to Condo of the Day: 445 3rd Avenue, #201

Try J and R on 7th ave in Park Slope

Posted by: PHfamily at August 10, 2009 1:56 PM in response to Refrigerator Repair/Replacement?

Agreed, they are slimy crooks.
You can report the broker to the Department of State and you can report development related lies to the Attorney General.

Posted by: PHfamily at August 9, 2009 3:42 PM in response to 660 Bergen: Shady!!

Sorry...too little too late. They should have cut prices months ago.

Posted by: PHfamily at August 6, 2009 10:56 AM in response to Taking the Edge Off of the Edge? Nope, It Turns Out

Lowes and Home Deopt both sell interlocking rubber mats....that should do the trick!

Posted by: PHfamily at August 4, 2009 11:29 AM in response to rubber mats for outside?

This is exciting news! I just hope it as good as the original!

Posted by: PHfamily at July 31, 2009 2:13 PM in response to Streetlevel: The Return of Hot Bird!

Yes, any history of previous construction incidents should be taken into account. However, that was presumably a different location, construction team and set of circumstances. The neighbors that were complaining about the latest expansion plan due to perceived light/air and noise issues seem ridiculous to me. When they bought their properties the school and the school yard existed, so none of this should seem surprising. There is no way any construction site in NYC, especially a school, could possibly get away with anything that was not approved by the DOB or were codes were not followed. The DOB has many more inspectors than it used to and the addition of the 311 hotline has allowed them to be much more aware of what is going on.
Is the site as of right or are they applying for any variances?

Posted by: PHfamily at July 31, 2009 2:12 PM in response to Berkeley Carroll Expansion Stirs Up The Neighborhood

What a bunch of whiners. When you buy a home next to a school and school yard you should have the intelligence to assume that there will be noise and that there is the possibility for building expansion. Berkeley has existed for over 100 years…none of this should be a surprise or alarming. I would assume that the school will be doing everything well within the scope of the law and building code. If this were a public school people would be welcoming the extra space.

Posted by: PHfamily at July 31, 2009 11:52 AM in response to Berkeley Carroll Expansion Stirs Up The Neighborhood

I agree....$100K will not be enough. $250K is a better base estimate. It isn't just the cost of the gut reno, but the cost to put walls, doors, floors (maybe)tile, kitchen(s), etc back in. The broker either lied or has no sense of costs and then should have said so.

Posted by: PHfamily at July 31, 2009 6:51 AM in response to Gut Reno Estimate?

Try John Mocio of AJM-917-299-9851. He has done a good deal of tile for us. Always a decent job and reasonably priced. Let him know that his clientson Park Place reccomended him.

Posted by: PHfamily at July 29, 2009 5:24 PM in response to Affordable backsplash install?

Closer to six months and they have a sign that says that they will be moving on-site soon.....so the sales office is actually closing.

Posted by: PHfamily at July 27, 2009 11:44 AM in response to Vantage 238 Launches a Sales Office on Flatbush

Prices are way too high for a walk up on 20th street.

Posted by: PHfamily at July 23, 2009 11:22 AM in response to 300 20th Street Hits the Market

We love our new Electrolux units....the capacity is huge and they have the same dimensions as smaller units.

Posted by: PHfamily at July 23, 2009 10:24 AM in response to Washer + Dryer Recs?

The bigger firms all co-broke but they will not go down to 4%. Make sure that they hire a full service firm becasue that is what sellers need in this market.

Posted by: PHfamily at July 22, 2009 9:04 AM in response to 6% Broker Fees Still Happening?

First Meridian on 7th ave and 9th street

Posted by: PHfamily at July 21, 2009 4:24 PM in response to SRO -> 3 Family FHA Loan

No, actually, you don't include common space in the apartment’s square footage. You include the common space when you try to figure out each units % of common interest.
Regardless, this is nowhere near 1000 sqft.

Posted by: PHfamily at July 21, 2009 2:24 PM in response to Co-op of the Day: 34 Plaza Street East, #704

This agent is ridiculous...she overinflates the square footage on all of her listings. This should sell close to $500K.

Posted by: PHfamily at July 21, 2009 2:03 PM in response to Co-op of the Day: 34 Plaza Street East, #704

stnzz- all of your posts seem to be about problems in your rental. It seems like you are trying to build some odd case against your landlord. According to a previous post you are leaving the rental, so just leave and stop complaining.

Posted by: PHfamily at July 21, 2009 9:35 AM in response to Inspector Unable to Gain Access?

Consult an architect first. They will be able to review codes with you to see what can be done. But from our experience we learned that the deck will have to be metal unles it is three feet from the neighboring property line and it can only be built 8 feet deep. But the architect will know best. Good Luck!

Posted by: PHfamily at July 20, 2009 10:22 AM in response to Deck to Replace Screened Porch

I am really surprised. We found him to be honest and his work was good.

Posted by: PHfamily at July 17, 2009 8:11 PM in response to Bill from circular stairs

"Pay the $100,000 tax for chrissake! You're gonna pay $2200 a year in property taxes instead of the amount you *should* pay...

Posted by: tybur6 at November 11, 2009 10:25 AM"

That does not even make sense. Help me please.

Posted by: crimsonson at November 11, 2009 1:13 PM in response to Mansion Tax

Sorry -- you're right... added an extra zero. So it's actually even more absurd. It's a 1% transfer tax, so it's $10,000 on a million dollar purchase. You're paying your oh so talented realtor many times that for their amazing service.

So, yes, PAY THE DAMN TAX... stop trying to game the system and protect your precious pennies. You have a million dollars in cash. The mansion tax is meant to bring revenue from the rich (example -- someone with a million dollars in cash) and support services in the city.

The property taxes for brownstones (and similar) in this fair city hover around the absurd 0.1% to 0.2% per annum. God forbid you should have to pony up $10k ONCE support the city's coffers... So effing ridiculous.

But yeah, you can buy the house for $150,000 -- then give the seller a suitcase of cash in a back alley. Then both of you can avoid paying taxes! How's that for an idea!

While your at it, register your car in Pennsylvania.

Posted by: tybur6 at November 11, 2009 1:30 PM in response to Mansion Tax

Feral- did you pay your own transfer taxes or did the seller? If you paid the transfer taxes and the price of the home was $999K you should have paid a mansion tax.
New York City and New York state transfer taxes that amount to 1.425% and $4.00 per thousand of the purchase price. At $999K your transfer taxes would amount to a bit over $18K which would make the taxable sale price over $1M.
Original poster, feel free to check with a real estate attorney to verify the correct answer.

I agree, pay the mansion tax, $10K is not the biggest sum you will have to pay during the transaction.

Posted by: PHfamily at November 11, 2009 1:50 PM in response to Mansion Tax

The poster is trying to save money.

Those who are urging the poster to pay the mansion tax are not being helpful.

That extra 10k might be the difference between being able to afford the home and not being able to afford it.

Posted by: Pigeon at November 11, 2009 1:57 PM in response to Mansion Tax

Someone buying a residence for $1mm probably would probably have more 300-400K in cash, not $1mm. That hardly qualifies as "rich" in this city, just as $1mm will not buy you a "mansion." And--are you suggesting the OP should pay $1,000,001 to enjoy the privilege of refilling our city's coffers to the tune of $10,000?

Everyone loves to tax someone else.

Posted by: woodys at November 11, 2009 1:57 PM in response to Mansion Tax

Transfer taxes are the responsibility of the seller. If the parties agree that the buyer will reimburse the seller for the transfer tax, then this reimbursement is part of the "consideration" paid to the seller and on which the buyer's mansion tax is calculated. But in the ordinary case where the seller pays the transfer tax, the mansion tax is calculated on the purchase price alone.

Posted by: NorthHeights at November 11, 2009 2:32 PM in response to Mansion Tax

The Mansion tax figure is outdated. One million does not buy you anything close to a Mansion in NYC anymore There has always been talk of the threshold being raised but with those fools in Albany I wouldn't bet on it.

Posted by: Crownlfc at November 11, 2009 2:45 PM in response to Mansion Tax

t6, really. Why are you equating illegal behavior (PA car) with simply attempting to minimize one's tax burden, which behavior has been upheld by the courts as legal and expected for a hundred years.

Meanwhile the OP may be confused but that Corcoran link is useful. The tax is 1% of the ENTIRE sale when it is over $1 million. Closing costs are meaningless.

A million bucks isn't what it used to be, t6. Buy a house and shop sounding like a bitter renter.

(OP, don't forget to take the federal homebuyer's tax credit if your income allows, and let us know. Just so T6 can bitch about that too).

Posted by: denton at November 11, 2009 3:08 PM in response to Mansion Tax

A million bucks is a MILLION BUCKS!

I would argue that the transfer tax should be LOWER, not higher. You have enough money to pay a million dollars for a house (and the tax code has decided your property tax is going to be woefully inadequate for the purposes of supporting the city's services), there should be no problem paying a 1% transfer tax!

I'm not a bitter renter... If I were an owner, I would be equally as disgusted with the whining here. Oh, Woe Is Me! I might be liable for paying $10,000 on top of the ONE MILLION DOLLARS I just paid someone in cash. They already are bleeding me dry... I have to pay the tax man $3500 EVERY YEAR for this house! How dare they!

Cry me a river... jaysus.

Oh yeah, take the advice above. Make sure you involve your attorney and ask him lots and lots of questions. They have mansion taxes to pay too, ya know!

Posted by: tybur6 at November 11, 2009 3:33 PM in response to Mansion Tax

tax is obscene and doesn't exist most places (i don't know that exists anywhere else). if you are buying a new condo and are paying the transfer taxes yourself, then i was under the impression that the taxes are included. i looked hard to get under this thresh hold. i had to pay the transfer taxes 2x - as a seller of my house and as a buyer of my condo. it's gross.

i pay city income tax, corporate tax, state income tax, sales tax blah blah blah this city is taxing us to death

Posted by: wine lover at November 11, 2009 3:52 PM in response to Mansion Tax