Prime Harlem Location on the corner of Fifth Avenue, 1 block from 125th Street and steps away from one of Harlem’s best dining and shopping corridors, which includes Whole Foods Market, World Famous Sylvia’s Soul Food along with Red Rooster and Corner Social restaurants.
Abundantly spacious and lofty, southwest facing 2 bedroom, 1 bath art deco corner home with generously sized foyer (comfortably fits a dining table and chairs), eat-in kitchen and split bedrooms. The “C” line is the largest co-op home available in the building. Best of all, the monthly maintenance is super low at only $676.00 per month.
1 West 126th Street HDFC is a landmark, pre-war building with a rich history—the former home of legends such as: Eartha Kitt, Billy Eckstine and Della Reese. The HDFC has an elevator, live-in super and laundry room on-site. The income restrictions for the HDFC are determined by 165% of the area median income for 2021 and are as follows:
1 Person: $137,940 Max
2 Persons: $157,575 Max
3 Persons: $177,210 Max
4 Persons: $196,845 Max
5 Persons: $212,685 Max
Cats are allowed. Sorry, no dogs. It is possible to obtain 90% mortgage financing in the building.
NOTE: 1 West 126th Street HDFC is an affordable housing cooperative and is intended to be a primary residence for all of its owners. The building is NOT INVESTOR FRIENDLY.
With this in mind, there is a STRICTLY ENFORCED FLIP TAX:
95% Flip Tax after 1st Year of Ownership
90% Flip Tax after 2nd Year of Ownership
85% Flip Tax after 3rd Year of Ownership
80% Flip Tax after 4th Year of Ownership
75% Flip Tax after 5th Year of Ownership
50% Flip Tax after 6th Year of Ownership
40% Flip Tax after 7th Year of Ownership
20% Flip Tax after 8th Year of Ownership