When a co-op on the 34th floor of a ritzy Upper East Side building sold last year, the price was recorded as $3 million. But it actually cost closer to $2.7 million. At closing, the buyer of the three-bedroom co-op at 425 East 58th Street received a credit of $225,000. The buyer and seller, at the behest of the co-op board, cut a deal to keep the technical sale price in line with the expected […]
source https://therealdeal.com/2018/05/09/keeping-up-appearances-co-op-boards-are-using-this-trick-to-beef-up-comps-in-a-buyers-market/
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