in rare instances, the offering plan allows an investor to purchase bulk and retain sponsor privileges. A. I read online that this is undesirable because the majority owner can increase HOA fees significantly at any point or change up the rules that may negatively impact people who own their units. Top floor apartment with lots of sunlight, ample closets and hardwood flooring under the carpeting. Most Common Sublet Policy: 1-2 years of subletting permitted after 1-2 years of initial occupancy by the shareholder. A special category of apartments in New York City are called “sponsor units. Using the figures above, the transfer. Save 6% when you sell or get a 2% commission rebate when you buy in NY & FL with Hauseit. 4%. ”. Still, the apartment has a large living and. Set Your Price Range. Each apartment owner will be required to pay the assessment. HPD rehabilitated some of these buildings and, over the years, gave the tenants the opportunity to own their apartments and become shareholders in limited-equity. Zillow has 187 homes for sale in New York NY matching Sponsor Unit. First time home buyers will often be confused by the term ‘sponsor’ as it relates to buying a sponsor unit in NYC. I am considering buying a unit from a sponsor who converted a commercial building into a condominium two years ago but decided to sell only two of six units atStudy with Quizlet and memorize flashcards containing terms like Your client, Georgette, wants to buy into a cooperative. HDFC coop in Brooklyn. ”. Negotiating the deposit. , 75 Wall Street, and Greenwich West at 110 Charlton Street. 2. NEW - 1 DAY AGO. 425%. Compass. The apartment is located in a prewar co-op building with a 24-hour doorman, a resident super, a laundry room, a bike. If it’s a five-unit building and the roof needs $100,000 of repairs, you know where the building is going to. New York rentals. HDFC buildings were created in the 70s, and 80s to allow tenants to break free from their “slumlords” to form cooperative buildings. 2. The offering plan is a document that discloses important information about a condo or co-op to a prospective buyer. $139,000. vacated and sold each year, and the sponsor's done much better overall with the post-conversion sales than on the initial 50%. Not all co-ops require board approval for renting. (OneKey® MLS as Distributed by MLS Grid) For Sale: 2 beds, 2 baths ∙ 1200 sq. An icon in the shape of a person's head and shoulders. For context, there are 217 current HDFC listings in NYC, according to StreetEasy, ranging in price from $89,000 for a one bedroom in the East Tremont neighborhood of the Bronx to $1. “ Procuring cause” does not get defined precisely anywhere. 5-2% of. In most cities in the U. If you plan on financing, you should start looking at lenders and obtain a mortgage preapproval. The New York State Transfer Tax represents 0. John Gasdaska and Jonathan Conlon are expert, experienced brokers and they are ready to help you buy or sell your piece of NYC real estate. Buying a Sponsor Unit in NYC: Up to 2% When Buying in NYC: New York State Office of the Attorney General has promulgated regulations that govern the offer and sale of interests in cooperatives and condominiums. Dear Board of Directors, It is with great pleasure that I write to you about my application to. Mansion Tax must be paid on all real estate purchases over $1000000. 5-2% of. 4% of the sales price on all properties valued below $3 million and 0. Blog; Forum; Calculators; Shop Menu Toggle. 004 percent of the purchase price (which equals $4 per $1,000 of purchase price). Nourish generated revenue of $1. A sponsor is a person or business entity starting a condo or co-op through conversion or as new construction. The downside is that there are additional costs to buying one. A Chinese investor bought two sponsor units at 111 West 57th St. coop #507534. New York City has a system of rent regulations known as “rent stabilization. A condo or condominium is real property unlike a co-op. Buy smart: Before you buy a new or pre-construction condo in NYC, get the answers to these essential questions. A Chinese investor bought two sponsor units at 111 West 57th St. While the low-interest-rate-fueled buying spree of the past few years burned through most of New York City’s residential inventory, it barely touched Manhattan’s newly built trophy apartments. And if you’re blessed enough to be buying a sponsor unit,. Hi, I'm looking to purchase a condo in Williamsburg, Brooklyn. What is the Benefit of Buying a Sponsor Apartment? Since most buildings in New York were converted into co-ops years ago, the opportunity to buy a co-op unit that has never. com; Magazine. That happened to Lincoln Towers, for instance. Sponsor units are not common in New York City real estate. 05% on mortgages under $500,000 and 2. Use the filtering options available (number of bedrooms and bathrooms, square footage, year built, etc. Here are five great sponsor units. 4 percent transfer tax to New York. Unfortunately, the same could be said of buying real estate in New York City: It’s different here. S. 60-70 Woodhaven Boulevard UNIT 3C, Elmhurst, NY 11373. Sponsor units are free from many rules and restrictions, making it easier for buyers to close and move in. The most significant difference between buying a co-op and a condo is the ownership structure, says James Woods, Esq. As a result, you are buying a sponsor unit from the building’s original developer or company rather than the previous owner. If the residents were in their 30s or 40s back then, they are now in their 70s and 80s. Other perks of buying directly from a sponsor can be lower cost or a. A sponsor can sell all remaining sponsor units as a bundle to another sponsor, coupled with all other sponsor rights/responsibilities in the building. 825 percent of the purchase price (depending on the price of the property) that are paid. 2. With fewer residences, these co-ops or condos offer greater community involvement and decision-making power. M. The difference between these three is important to know when. Other reasons can include weak financials or lawsuits. We’re focusing on “Residential Type 1” and “Residential Type 2” properties for this post which include 1-3 family houses, condos and co-ops – basically residential. A few are. 625% for sales of $500k or more. Glacier bought unsold sponsor units in nine co-op buildings, which was the equivalent of 255 apartments, 218 of which were not rent. $550,000. Save 6% when you sell or get a 2% commission rebate when you buy in NY & FL with Hauseit. For instance, if you're buying a $1 million dollar property and taking out an $800,000 mortgage, you'd be taxed on the full amount of the loan at a rate of 1. Most New York City co-ops require buyers to put down 20-25% of the purchase price, about the same as what most lenders require these days. The Pros and Cons of Buying a Sponsor Unit in NYC Sponsor units in NYC are more commonly found in co-op buildings that once operated as rental properties. Y. in rare instances, the offering plan allows an investor to purchase bulk and retain sponsor privileges. 36 million for three-bedrooms. (But it is high for Riverdale, where the median asking price for a one bedroom is $230,000, according to StreetEasy. What does this mean for her?, Which document or documents will help the cooperative buyer learn how the board operates and learn the cooperative's future plans? and more. This Clinton Hill two-bedroom sponsor co-op, 451 Clinton Ave. On March 31, 2019, the New York state Senate and Assembly agreed upon a new schedule of mansion tax rates as part of New York's 2020 budget. Negotiating with a sponsor. The asking price for the sponsor unit was $5. However, it is likely that you will have to pay the seller's transfer tax (usually around 1. 2. Sold 10/31/22. So, what is a sponsor unit anyway? Essentially, it's a unit that's never been sold. 17. Buyer Closing Credit; Search for Listings; Closed Transactions; Sell Menu Toggle. A sponsor unit is an apartment in a co-op or condo that the developer or investor has retained after selling the other units. John Gasdaska and Jonathan Conlon are expert, experienced brokers and they are ready to help you buy or sell your piece of NYC real estate. This Kips Bay one-bedroom, one-bath unit is in an investment-friendly co-op building, which allows subletting from day one. Buyer Closing Credit. You might also land a newly renovated apartment with prewar details. located at 111 Fifth Avenue, New York, New. for a total of $34 million, including this three bedroom with views of Central Park. You should be aware of the fact that buying a sponsor unit does not necessarily guarantee that you won’t have to complete some sort of board application. 5 results. New York. 2. lower_nyc. “The law prevents you from suing the sponsor or developer for fraud due to omissions or failures to disclose material information in the offering plan because only the state attorney general can sue for fraud in an offering plan,” says Bonnie Reid Berkow, a NYC real estate lawyer and founding partner at the firm Wagner, Berkow & Brandt. Common Misconceptions. 81-16 Langdale Street UNIT 250A, New Hyde Park, NY 11040. Sponsor apartments tend to cost about 5-10% more than comparable non-sponsor units, but for many people who might not be approved by a co-op board (such as freelancers, foreign citizens, and the unemployed or retired) the alternative is buying a condo, which is much more expensive on average than a co-op. I’m a stabilized renter in a co-op. He has finished a postdoctoral schedule at Columbia University and has acknowledged adenine new job in New York City. “A tenant. It makes sense to buy. in Chelsea has 44 units on five stories and dates to 1865. At [a unit purchase price of] $600,000, it's about $12,000; at $1 million, it's roughly $20,000. This means that buyers of new housing developments. Its iconic skyline is a testament to human ingenuity, ambition, and the relentless drive for…. Calculating the transfer taxes you may pay for a sponsor unit coop purchase can be tricky and beyond the grasp of even many real estate lawyers. This updated apartment has new appliances, new kitchen sink. NMLS #507535. (Estimated Timeframe: 30-45 Days) Necessary: When buying in a New Development or a Sponsor Sale, please disregard this step. For a $1,750,000 co-op in New York City, the typical buyer closing costs would be $27,000. Apartments for Rent. The sponsor is selling 2 similar studio units for $565K and $575K, without Board approval. Homes for sale; Foreclosures; For sale by owner; Open houses; New construction; Coming soon; Recent home sales;. New York City has about 75,000 pieds-a-terre. With mortgage rates at record lows, it’s a great time to buy an apartment in NYC. 25 million. It’s located in The Harmony, a 16-unit boutique elevator condo building with a fitness center, parking garage, furnished roof deck, storage units, and bike storage. 175% of the initial mortgage principal (includes a 1. Among more than 16,200 new condo units built since 2013 in New York City, roughly 4,100, or one in four, remain unsold. 5 million. 814 Amsterdam Avenue, New York, NY. This model allows prospective first-time homebuyers to enter a rental agreement or lease (‘rent to own contracts” or “rent to own lease”) with a property owner for a specified lease term, and this term is typically anywhere from one to three years. 7,052 Co-Ops For Sale in New York, NY. The advantage of buying a sponsor unit in a co-op is that you get to bypass the board interview. , #4A, saw its price drop a couple weeks ago by $35,000, bringing the asking price to $845,000, which is just slightly north of the median for a two bedroom in the neighborhood, per StreetEasy. 075% depending on the property’s price. 89-00 170th Street UNIT 2N, Jamaica,. The NYC Mansion Tax consists of 8 individual tax brackets. Nuances to Buying a Sponsor Unit Co op in NYC. $360,000. Building for sale! This lovely 5 story townhouse in the heart of Manhattan is perfect for conversion to 1-family home. When a wave of rental buildings were converted to co-ops in the 1970s and 1980s, existing tenants had the option to buy their apartments or keep renting. S. The Pros and Cons of Buying a Sponsor Unit in NYC. Any residential sale below $3 million will remain at the already established 0. , #5K, in Prospect Lefferts Gardens is on the market for $695,000. Your attorney will provide this and detail some important protections you must know before deciding to buy. If you’re looking to buy a sponsor co-op in New York City right now, you have more options to choose from, possibly a result of Covid deaths. Financing Contingency. Still, the apartment has a large living. A sponsor unit is an apartment in a building that’s still owned by the original builder/developer of the building (in the case of condos) or an owner of the building before it went co-op, who still holds “unsold” co-op shares. If you plan on financing, you should start looking at lenders and obtain a mortgage preapproval. Top podcasts; Episodios; Podcasts; Iniciar Contraseña; Registrarse;. What is a sponsor unit? What are the advantages to buying a sponsor apartment in New York City? What are the negatives to buying a sponsor unit co op? What are some nuances to calculating transfer taxes owed for a sponsor sale coop? We'll teach you everything you need to know about buying a sponsor unit in NYC. The exception is with a unit in a new development. Remember that sponsors typically expect new construction buyers to pay the sponsor’s NYS and NYC transfer taxes in addition to the. The details of the transaction need to be worked out and due diligence needs to come back clean. 9% of the purchase price on sales of $1 million or more. $139,000 plus. Also, consider that most coops require that you show 24 months costs in cash post closing - if you pay all cash for the unit, you would still need to show 24x maintenance in a bank or brokerage account to get approval. Sale Contingency. 425% for sales of condos, co-ops and one- to three-family houses. How buying real estate in NYC is unlike anywhere else. However, when a sponsor unit is purchased, the buyer is traditionally responsible for paying the transfer taxes. Although a co-op will not reject your application for a sponsor unit, they may require the submission of an abbreviated board application for the purposes of verifying your assets and. Exceptions include sponsor units…This special risk to buying a new construction home in NYC is disclosed in the Special Risks section of the building’s offering plan. the New York Telephone Company in 1929, has been emphatic. New York city Real Estate is made up with Co-ops, Condominiums, Townhouses and Rental Apartments. 110-15 71 Road #2E. Inspection Contingency. This large and bright 2Br/1. This may be negotiable when it is a resale but less so if it’s a sponsor unit. The application process for buying a co-op in NYC is notoriously daunting and one of the main advantages of the sponsor unit is that you don’t need board. That. 2 beds. Online searches for sponsor co-ops, which are exempt from co-op board approval, currently bring up more than 300 listings, up about 50 percent since before the pandemic, Brick Underground finds. $859,000. Similar to when buying in a new development, it is customary for the buyer of a sponsor unit to pay the New York State transfer taxes and New York City transfer taxes on behalf of the seller. You may want to contact one of the following tenant groups who can also advise you on finding an attorney if necessary. Buyer Closing Credit. Both were sponsor units and have been on the market for months despite being fairly priced for the neighborhood. At the most basic level, “a sponsor unit is an apartment that has never been sold” before. 98-120 Queens Boulevard, Unit 4G. Berkshire Hathaway HomeServices New York Properties’ President Ellie Johnson invites you to an intimate conversation with one of New York City’s super brokers and a 30-year industry veteran,. Extell's rent-to-own offering allows you to credit a year of rental payments towards a condo purchase if you buy within 12 months. My own converted in the early '90s with a bit more than 50% sold, and is now at 22% of shares still owned by the sponsor. 75% New York City tax) They're back: NYC buyers can expect more competition from foreign investors in 2023. There are currently 79 condos for sale in Rego Park, Queens, NY to browse through, with prices between $150,000 and $1,875,000. NMLS #507535. A sponsor unit in a New York City co-op or condominium can be a real find: It means more privacy and less bureaucracy. To negotiate a transaction that benefits both parties, work with a buyer's agent. For mortgages of one to three family houses and individual residential condo units with initial loan balances of $500,000. A grown child buying an apartment for a parent presents some unique challenges. Price cut: $100,000 (Nov 8)Determine your closing costs in advance when buying a condo, co-op, or home in NYC. These are the kind of deals developers are making in order to sell apartments in brand new buildingsOffering Plans for Co-ops and Condos in NYC. For many New York buyers, so-called "sponsor units" are some of the most desirable options in the city, in part because buying directly from a building's sponsor generally allows you to skip the typical interview process you'd have to go through to purchase, particularly in co-ops. The sponsor is simply the developer or builder of a new construction or re-development project. 13 days on Zillow. Renovated, it includes wood floors, plentiful cabinets, a kitchen island, and recessed lighting. Go! Manhattan Homes. 📅 Stay informed and up to date with what is going on in your city - whether or not you are ready to start a real estate transaction, the information we provide can help you make smart decisions. We discuss the impact of the conversion on property condition, the relative pricing of converted units to new construction condominiums, its impact on homeownership rates, New York State and New York City tax and fee incomes generated, and the related economic activities that result. Assisted FSBO Listing; Professional Photography; Virtual Staging; Custom Floor Plans; 3D Virtual. A “The tenant/shareholders in a housing cooperative are bound by the proprietary lease, bylaws, rules and regulations,” says Albert Pennisi of the law firm of Pennisi Daniels Norelli in Rego Park, Queens. “Sponsor listings” mostly are found in condo buildings, since. One of the sticking points that stops some people from buying coops is that you're buying shares in the coop's corporation which gives you the right to live in a particular unit. Listings from Canal Street to West 30th Street are selling at a median price of $2,010 per square foot, with Noho having the highest median prices ( $5. View 7030 homes for sale in Queens, NY at a median listing home price of $699,000. You are not truly buying the property. Additionally, buyers might be responsible for paying the sponsor's lawyer. Queens homes for sale. Each unit represents a specific number of shares. When buying a brand new condo or a co-op directly from the developer (also known as a sponsor), expect to pay a New York City transfer tax of 1% of the sales price on purchases greater than $500,000. National Cooperative Bank offers competitive rates and easy pre-qualification. 00:08:54;. The apartment, which is in a 31-unit building that is still selling sponsor units, has steadily improved in value. A guide to using a no-fee renovation loan from a NYC real estate firm. Since owners of co-op apartments are technically tenants vs owners of real property, the board of the co-op corporation which actually owns the building has enormous power over the residents. 5 Sadore Lane, Unit 6E, Yonkers, NY 10710 is a co-op not currently listed. #SponsorUnitsNYCThis two-bedroom sponsor co-op is a bit over the neighborhood's median, but you're getting a lot of renovated living space and decent amenities including a live-in super. 4% transfer tax to New York State. 4 All checks for closing adjustments aggregating in excess of $2,500. Select a minimum price (optional) and a maximum price. 425% for sales of $500k or more. com. A sponsor unit is a co-op unit that belongs to the sponsor, the building’s developer. 25 Tudor City Place #617. Midtown East | Cooperative | 2 Bedrooms, 1 Bath. Exceptions include sponsor units that were held aside by. Submit the Board Application Package. 72% per year, or $7,200 per year according to average NYC property tax rates discussed in our article on NYC real estate taxes. $40,000) is the down payment of a house almost anywhere outside N. NYC Transfer Tax Calculator; Capital Gains Tax Calculator; Co-op Flip Tax Calculator; Rent Menu Toggle. , #405, is going for $975,000. 825% for those that go for $500,000 to $2,999,999, and 2. Construction: Despite not having to pass the co-op board’s approval process to buy a sponsor unit, any. by REW November 23, 2020 November 23, 2020 0 4260. Tudor City homes for sale. Only eneral downside I can think of is that you pay higher closing costs as stated by #4 and #5. There is always a minimum down payment requirement which can range from 10%-50% down, depending on the Coop. Come visit. As mentioned above, offering plans can usually be declared effective once 15% of the units are sold in arms length transactions (not to the sponsor’s mom) and must be. So if you're buying a new apartment from the sponsor, be prepared to cover the transfer tax. Each apartment owner will be required to pay the assessment. There are many advantages as well as considerations to buying a sponsor unit in NYC. 22 million. 2. 6 million, according to his longtime broker and real. If you live in a co-op building, then you will most likely need coop board approval unless you are the sponsor and you are renting out a sponsor unit. 05% of the initial mortgage principal (includes a 1% New York City tax). RE: Hefetz to Olivieri Apt. ∙ 4 Sadore Ln Unit 1Y, Yonkers, NY 10710 ∙ $340,000 ∙ MLS# H6260960 ∙ SPONSOR UNIT with NO Board Approval and only 10% down!sponsor unit means you are the first to have bought that unitYou bought it from the developer as opposed to a previous owner. $315,000. And you would pay 0. See floor plan and full details here. 5. 1% Full Service;. 1 ba. They often lack amenities other than a doorman, which means you usually pay lower maintenance fees. There are roughly 3,644,000 homes in New York City. Common Misconceptions. Buy. 925 percent, totaling $15,400. Sponsor units don’t require board approval, and there are co-ops in various types of unique circumstances where certain units may not be sponsor units but they don’t require Board approval for subletting. Co-op in Turtle Bay. 10018, or by. 10453 is a fairly walkable zip code in Bronx County with a Walk Score of 88. In New York City, the transfer tax is 1% of the purchase price on properties less than $500,000, while it is 1. $499,000. If you’re buying a sponsor unit (new construction), it’s customary for the buyer to also cover the seller’s attorney fees in addition to the NYC and NYS Transfer Taxes. Conversion or Alteration. In a Prewar Co-op. When buying a brand new condo or a co-op directly from the developer (also known as a sponsor), expect to pay a New York City transfer tax of 1%. Buy Menu Toggle. 9 million. Mortgages of one to three family houses and individual residential condo units with initial loan balances of $500,000 or more. Here's why these units can be advantageous for NYC buyers. In the 1980s, when many buildings were converted into co-ops, the original tenants had the option to purchase. The city transfer tax is 1 percent of the purchase price on sales over $500,000 (or 1. After all, Cooperative is our middle name! Call us at (202) 349-7455 or email Ryan Greer [email protected] you want to buy a sponsor unit in NYC, there are two main steps: finding a sponsor (the person who owns the apartment) and going through their broker’s office as your. Investors often overlook this strategy, but it can be a powerful way to generate your multifamily property down payment funds. For all residential transactions from $499,999 and less, New York City collects 1% of the sale price. If the sponsor owns 22-25 units and they are larger than the others, the sponsors share allocation might actually be greater than 50%. it depends on what is written into the offering plan. By virtue of the fact that these are sponsor units, no board approval is required for these co-ops. But the sponsorHi, I have noticed that many sponsor units I am looking at in brooklyn and queens are at least $20,000-$50,000 over market comps. Co-op in Forest Hills. For example, sponsors allocate common areas to individual units, and some sponsors measure the outside of the walls if it gets disclosed. After all, Cooperative is our middle name! Call us at (646) 201-4714 or email Brittney Baldwin at bbaldwin@ncb. Pay a premium price for the convenience of no board approval; Re-sale poses the hurdle of board approval for the next buyer; Higher closing costs similar to new developments; When do sponsor units list for sale? What is a sponsor unit? What are the advantages to buying a sponsor apartment in New York City? What are the negatives to buying a sponsor unit co op? What are some nuances to calculating transfer taxes owed for a sponsor sale coop? We'll teach you everything you need to know about buying a sponsor unit in NYC. There are so many questions, but all you need to know it's out there on the web just google "buying a co-op in NYC" and read all there is out there, really. SPONSOR UNIT with NO Board Approval and only 10% down! This spacious and sun-drenched unit features a beautiful. 84-70 -th Street #4S, Kew Gardens, NY 11415. The exact time will depend on the property and whether you’re making an all-cash purchase or financing. 9% applies to purchases of residential property valued at $25 million or more. If you prefer to use a map view, click See all neighborhoods and select neighborhoods directly from. What constitutes the “procuring cause” under REBNY buyer representation rules in NYC. . Private Exclusives; Coming Soon;. This two-bedroom, one-bath sponsor co-op 163 Ocean Ave. This flip tax is still under the average 1%-2% for most NYC co-ops over $500k. It’s in One Manhattan Square, a building that will have a 75-foot swimming pool, a basketball court, a bowling alley, a squash court, and a golf simulator. For more information, call 347-846-2421. Yes sponsor rights can be sold. 425%. Buying a Sponsor Unit in NYC. Why? Because anyone with good credit, who can get a mortgage, the specified down payment and enough reserve funds. 425% if it’s under $500,000. 425 percent on purchases of $500,000 or more, plus a . Hauseit LLC co-brokes all listings. The benefits of buying into a. Next, let’s assume this property has $1. NYC and state transfer taxes. buying Co-ops family retiree sponsor unit. Purchasing a sponsor unit in a co-op, in particular, is a much different experience than buying a. 4% to 2. ) And they’re right. If you’re buying a sponsor unit (new construction), it’s customary for the buyer to also cover the seller’s attorney fees in addition to the NYC and NYS Transfer Taxes. The 421a tax exemption can bring your taxes down from 10-25 years. branch and doing business in New York State; 1. Plus One ADU Program will. , between Broadway and Amsterdam Avenue, has high ceilings, a windowed kitchen, a windowed pantry and a new bathroom. This is one of the many reasons it’s always ideal for comparing pricing within a building. Co-ops still make up a big percentage of housing in New York City—about 75%, according to brokers—and sponsor units are actually "unsold shares" in the building. CONS: • Higher closing costs: New York City and State have transfer taxes of 1. You can find this luxury amenity at new developments like Jolie at 77 Greenwich St. New York City, the concrete jungle where dreams are built, is a place of constant transformation. once I buy it will it still be a sponsor apartment, and are there any cons to buying one. The purchase price for new development may include: Sponsor’s attorney fees. That happened to Lincoln Towers, for instance. Buying a sponsor unit means that prospective purchasers can dodge the entire board application process, which can be arduous and stressful. However, this term can have a different meaning depending on whether the unit is in a. This seems like an issue you’ve been asking all over Reddit this past week. Capital contribution fees. The New York State transfer tax is . The two bedroom, three bath, 515 West 29th St. This sweeping power vanishes, however, when a sponsor sells a unit. Total NYC & NYS Seller Transfer Tax rates in NYC are 1. ” What's Next? As with anything that involves a major investment or purchase, it's important for the potential buyer of a. 65% on those valued over $3 million. 65% on sales by $3m. 5Bath on the 4th floor of an elevator building. GameStop Moderna Pfizer Johnson & Johnson AstraZeneca Walgreens Best Buy Novavax SpaceX Tesla345 East 57th Street, #16B$895,000. The buy-ers ask the sponsor to combine the apart-ments into single unit 1AB prior to closing.