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Your Next Project Starts with Brownstoner
That said, if you do win it you will have won a lot of money after the government takes their share.
A lot of these contests let you take cash in lieu of the prize but it’s significantly less than the “estimated” value of the prize.
I’m not sure when taxes are due for something like that. You may have to pay some that quarter to avoid a penalty…otherwise due Aril 15.
Would this apt sell for $1.5MM on the market?????? that’s a big question.
quote:
Unless you can come up with the $400,000 in taxes when you win it you’ll have to sell it.
oh crap! youre right. that sucks… when it comes to stuff like that, like winning something huge like a million dollar apartment, do they give you time to pay off the taxes? or do you have to do it all up front? if you have to do it all up front then this contest is essentially only open to rich people and that blows!
*rob*
quote:
“the NYCHA’s headquarters was located right near there.”
NYCHA HQ at 250 Broadway, Manhattan. Did you cross a bridge on the way?
hmmm.. it was definitely a NYCHA office building tho, maybe not the headquarters. and i know all the projects have those NYCHA signs, this was not that… this was labeled on the glass doors on the front.
if they were open id probably have stopped in for an application!
they really need to let more middle class people move into the projects.
*rob*
Outer part of LI is alrready seeing rain from Earl.
Not everyone’s a minute-man Dave.
Okay – I’m out.
By dirty_hipster on September 3, 2010 2:53 PM
so if someone wins that apartment – can they flip it?
Unless you can come up with the $400,000 in taxes when you win it you’ll have to sell it.
quote:
The car wash is at Vanderbilt, one very short block away from Hot Bird. How long did it take you to find us from there?
only about 10 minutes or so.
*rob*
45 seconds for anyone else!!!!!!
so if someone wins that apartment – can they flip it?