The Real Deal New York

Several co-ops considering flip taxes

May 22, 2006 12:00AM

Several co-ops in the city are planning on instituting flip taxes — fees, usually 2 or 3 percent of a sale price, paid by an owner upon the sale of a co-op apartment. Many co-op buildings have had flip taxes in place for a while to discourage quick turnover (thus the name), but rising real estate values are driving more buildings to now consider them. more [New York]

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