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What is a Flip Tax? - Natalia A. Sishodia
From Sishodia PLLC – What is a Flip Tax? dives into the complexities of co-op ownership in New York City and how flip taxes impact buyers and sellers alike. This episode breaks down the nuances of buying shares in a co-op rather than traditional property ownership, and highlights key legal and financial considerations that can affect your bottom line when entering or exiting a co-op property.
We explore the origins and purpose of the flip tax—originally introduced during the co-op conversion wave of the 1980s—as a way to maintain a building’s capital without burdening all residents. Real…
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