Address..............…....116 Cambridge Place
Apartment No....…....2-B (2nd floor walk-up)
Neighborhood...…....Clinton Hill, Brooklyn

Price....................…...$400,000
Maintenance/mo.….$

Square Feet....…......844sf (approx.)
Layout................…....2-bedroom/1-bath
Building Type.....…...HDFC Cooperative (walk-up)

INCOME LIMIT
HDFC Cooperative with income restrictions set at 120% of Area Median Income (AMI)--this is based on buyer’s income on their two (2) most recent tax returns and current paystubs. Both years must be below the income limit stated below.

Family of 1- $136,080
Family of 2- $155,520
Family of 3- $174,960
Family of 4- $194,400
Family of 5- $210,000
Family of 6- $225,600

FIRST TIME AVAILABLE IN 41 YEARS!

THE APARTMENT IS IN “ESTATE CONDITION” AND REQUIRES COMPLETE RENOVATION.

APARTMENT
This 844sf (approx.) 2-bedroom cooperative is a rare opportunity to renovate your home from a clean slate.

The apartment is located on the 2nd floor (1 flight) of a pre-war walk-up building.

All bedroom easily fit queen/king beds with additional room for furniture.

BUILDING
This HDFC cooperative consists of 40 units between 110-116 Cambridge Place and is located on one of Clinton Hill’s best blocks—a 5 minute walk to the Clinton-Washington Avenue A-C train line.

The building has great financials, active board, and 3rd party management.

-Must be used as the buyer’s primary residence
-Gifting of down payment, cash purchases, and bank financing are allowed.
-Dishwashers, washer/dryer units, and pets are allowed with board approval.

FLIP TAX
The flip tax is paid by the seller upon sale. It is based on the length of ownership and is calculated as: ((Sale Price minus Purchase Price) times %).

0-4 Years of Ownership: 75% Profit to building — 25% Profit to seller
5-10 Years of Ownership: 50% Profit to building — 50% Profit to seller
11-15 Years of Ownership: 40% Profit to building — 60% Profit to seller
15+ Years of Ownership: 30% Profit to building — 70% Profit to seller

NOTE: Renovations costs are not included in the flip tax calculation.