FLIP TAX DO-OVER

Aug. 7 - After slogging through years of a quiet real estate market, many co-op coffers are once again being replenished by the flip tax, a dollar figure that is attached to the sale of an apartment and is unique to each corporation. But what if your co-op has one that seems out of sync with today’s apartment values? That is the case at one 139-unit building on Manhattan’s East Side, and they wonder if their flip could be updated with a simple board vote. Listen as Eric Goidel, partner at Borah, Goldstein, Altschuler, Nahins & Goidel, and Joel Miller, partner at Miller & Miller LLP, opine on flip fairness, flip legality, and flip do-overs.