1040 Park Avenue
New York, NY 10028
Co-op
BROKER SPECIALIST:
Douglas Elliman Real Estate
Howard Margolis
hmargolis@elliman.com
212.350.2258

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Building Financials
2016 Financial Statement - 1040 Park Avenue | $50.00 | 09/01/18 | |
2017 Financial Statement - 1040 Park Avenue | $50.00 | 09/01/18 | |
2018 Financial Statement - 1040 Park Avenue | $50.00 | 03/27/20 |
By Laws
By-Laws - 1040 Park Avenue.pdf | $50.00 | 09/21/17 |
Building Proprietary Lease
Proprietary Lease - 1040 Park Avenue.pdf | $50.00 | 09/21/17 |
Building Offering Plan And Amendments
Offering Plan ONLY - 1040 Park Avenue.pdf | $50.00 | 01/15/19 |
General Policies
Financing Policies
Additional Building Information
- Flip Tax: Yes, 2% of the purchase price, paid by either Seller or Buyer
- All cash purchasers may not place financing on their unit within the first two (2) years of ownership. Please refer to the guidelines for additional policy information.
Co-Op Sale
Payor | Building Fees | Amount | Due Upon |
---|---|---|---|
Buyer | Application Fee | $350 | Submission |
Buyer | Appraisal Research and Co-op Supplement | $250 (if financing) | Submission |
Buyer | Corporate Application Fee | $1,000 | Submission |
Seller | Lead Based Paint Disclosure Fee | $75 | Submission |
Buyer | Financing Fee | $300 (if financing) | Closing |
Buyer | Move In Deposit | $2,500 | Closing |
Seller | Closing Fee | $700 ($750 without a Broker) | Closing |
Seller | Flip Tax | 2% of Gross Sales Price | Closing |
Seller | Move Out Deposit | $2,500 | Closing |
Co-Op Sublet
Payor | Building Fees | Amount | Due Upon |
---|---|---|---|
Shareholder | Corporate Sublet Fee | $750 and 25% of the Rental/Maintenance differential if the rent is higher than the maintenance. | Submission |
Shareholder | Lead Based Paint Disclosure Fee | $75 | Submission |
Shareholder | Subletting Fee | $300 | Submission |
Subtenant | Application Fee | $250 | Submission |
Shareholder | Security Deposit | An amount Equivalent to three month's maintenance | Upon Approval |
Less Refinance
Payor | Building Fees | Amount | Due Upon |
---|---|---|---|
Shareholder | Appraisal Research and Co-op Supplement/Certification Fee (non-refundable) | $250 | Submission |
Shareholder | Financing Fee (non-refundable) | $400 | Submission |
Shareholder | Processing Review Fee (non-refundable) | $750 | Submission |
More Refinance
Payor | Building Fees | Amount | Due Upon |
---|---|---|---|
Shareholder | Appraisal Research and Co-op Supplement/Certification Fee (non-refundable) | $250 | Submission |
Shareholder | Financing Fee (non-refundable) | $400 | Submission |
Shareholder | Processing Review Fee (non-refundable) | $750 | Submission |
Single Application Initiation Fee
One-time fee paid by the person who begins the application
Payor | Type | Amount | Due Upon |
---|---|---|---|
Agent /
Attorney Applicant
Current Resident
|
Sale/Lease
Sale/Lease
Refinance/Renewal
|
$50
$100
Free
|
Initiation
Initiation
N/A
|
Application Participants | Any | Free | N/A |
If you are a real estate agent affiliated with one our enterprise brokerage clients, starting an application is covered by your brokerage.
Digital Submission Fee
Payor | Type | Amount | Due Upon |
---|---|---|---|
Applicant | Purchase Lease/Sublet Renewal |
$45 | Complimentary |
Shareholder | Refinance | $45 | Complimentary |
App Admin Fee
Payor | Amount | Due Upon |
---|---|---|
Any Participant Paying Building Fees | 5% of Total (excluding Digital Submission & Initiation Fees) |
Submission |
For more detailed information, please see our Pricing page.

All building information and documentation provided by property management.