42-80 Main Street Condominium

Plan's estimate

$10,090 a year per homeSchedule A, as first filed

Full tax, FY2026

$10,730 a year per homeBefore any tax break; 6% more than the estimate

Billed, FY2026

$10,730 a year per home6% more than the estimate

Checked against the first full year's bill for 33 homes: 33 within 10% of the plan's estimate. The typical home paid 6% more than estimated.

The plan's estimate is the sponsor's guess for year one. The city's bill is the real one, from the Department of Finance.

Sponsor's counsel fee

$2,500Paid by the purchaser to the sponsor's attorneys for the closingp. 12

Counsel's extra charges

• $250: preparation of ACRIS formsp. 12
• $300: closing outside counsel's office in New York Cityp. 12
• $500: closing outside counsel's office in Westchester, Nassau or Suffolk Countiesp. 12
• $300: adjourned closing at Purchaser's request on less than 48 hours noticep. 12
• $500: notice of default issuedp. 69
• $500: Purchaser assigns Purchase Agreementp. 69

Transfer taxes

Paid by the purchaserNew York City and State transfer taxes, by law the seller's, shift to the buyer in a sponsor salep. 6

Working capital

“three (3) months' Common Charges”Contribution to the condominium's working capital fundp. 13

Plan preparation reimbursement to Sponsor

$3,500Paid to Sponsorp. 13

ICAP Benefits reimbursement to Sponsor (Commercial and Community Facility Units only)

“0.5% of the Unit's purchase price”Paid to Sponsorp. 39

Not listed: title insurance, mortgage tax, lender fees, mansion tax.