116 Cambridge Pl APT 2B, Brooklyn, NY 11238

Showings will be done via open house only--first OH currently being coordinated. THE APARTMENT IS IN “ESTATE CONDITION” AND REQUIRES COMPLETE RENOVATION. 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 APARTMENT 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.