196 Owners Corp.
196 East 75th Street
New York, NY 10021
co-op
About
This is a white brick post war building, constructed in 1959. It was converted to coop in 1981. There are 20 stories including penthouses (no roofdeck). There were originally 134 apartments though many have been combined.
2% flip tax. There is a gym on the first floor for small fee and laundry in the basement. Pets are allowed.
Building description provided by Ami Schulman and Lisa Tainiter
applications
property contacts
confirm to continue
questionnaires
Have a questionnaire completed by property management.
general policies
Pets Allowed
Guarantors Allowed
Allowed on a case by case basis
In Unit Washers/Dryers Allowed
Please Refer to the Washer/Dryer dated November 10, 2020
Subletting Allowed
Must own the unit for 1 year prior to subletting. One year terms only. Max years to sublet is 2 years (1 year initial & 1 year renewal, or 2 separate 1 year sublets).
Pied-a-terre Allowed
Allowed contingent on occupancy agreement being signed stating that only the owners will be allowed to stay in the apartment. The shareholder is responsible for the legal fees associated with the coop attorney's involvement.
Co-Purchasing Allowed
All would need to be listed on the stock certificate (board wants owner occupied only).
Parents Buying for Employed Child(ren) Not Allowed
Parents Buying for Student Child(ren) Not Allowed
Corporate Purchase/Lease Not Allowed
financing policies
Max Financing as %
75% of purchase price
insurance requirements
Homeowner's Insurance Required
additional building information
Closings take place at AKAM.
Bonuses are not included in the DTI (Debt to Income) Analysis.
Gifting is allowed on a case by case basis.
Trusts are allowed contingent upon compliance with the Trust Policy. The shareholder pays for the coop attorney's legal fees.
Parents buying for kids or vice versa is not allowed. All would need to be listed on stock. The board wants owner occupied only.
Foreign purchasers allowed.
Flip tax paid by seller.
Bonuses are not included in the DTI (Debt to Income) Analysis.
Gifting is allowed on a case by case basis.
Trusts are allowed contingent upon compliance with the Trust Policy. The shareholder pays for the coop attorney's legal fees.
Parents buying for kids or vice versa is not allowed. All would need to be listed on stock. The board wants owner occupied only.
Foreign purchasers allowed.
Flip tax paid by seller.
Fees set by and remitted to building and property management company.
co-op sale
| payor | fee | due upon | amount |
|---|---|---|---|
| Buyer | Additional Processing Fee (Non-Refundable, if applicable) | Submission | $200, only if there are three (3) or more applicants |
| Buyer | Application Processing Fee (Non-Refundable, Required) | Submission | $725 |
| Buyer | Building Processing Fee (Non-Refundable) | Submission | $400 |
| Buyer | Credit/Background Check Fee (Non-Refundable, (Required)) | Submission | $150 per person |
| Buyer | Move-In Deposit (Refundable) | Submission | $500 |
| Buyer | Move-In Fee (Non-Refundable) | Submission | $250 |
| Shareholder | Move-Out Deposit (Refundable) | Submission | $500 |
| Shareholder | Move-Out Fee (Non-Refundable) | Submission | $250 |
| Buyer | Administrative Fee (Non-Refundable) | Closing | $25 |
| Buyer | Closing Fee (Non-Refundable) | Closing | $750 |
| Buyer | Power of Attorney Review Fee (Non-Refundable) (If Applicable) | Closing | $150 if applicable |
| Buyer | Recognition Agreement Fee (Non-Refundable) (If Financing) | Closing | $325 (If financing) |
| Shareholder | Administrative Fee (Non-Refundable) | Closing | $25 |
| Shareholder | Flip Tax (Non-Refundable) | Closing | $__ equal to 2% of the purchase price |
| Shareholder | New York State Stamp Tax (Non-Refundable) | Closing | $0.05 per share |
co-op sublet
| payor | fee | due upon | amount |
|---|---|---|---|
| Shareholder | Building Application Processing Fee (Non-Refundable) | Submission | $350 |
| Shareholder | Move-Out Deposit (Refundable) | Submission | $500 |
| Shareholder | Move-Out Fee (Non-Refundable) | Submission | $250 |
| Subtenant | Additional Processing Fee (Non-Refundable, if applicable) | Submission | $200, only if there are three (3) or more applicants |
| Subtenant | Administrative Fee (Non-Refundable) | Submission | $25 |
| Subtenant | Application Processing Fee (Non-Refundable, Required) | Submission | $550 |
| Subtenant | Building Application Fee (Non-Refundable) | Submission | $250 |
| Subtenant | Credit/Background Check Fee (Non-Refundable, (Required)) | Submission | $150 per person |
| Subtenant | Move-In Deposit (Refundable) | Submission | $500 |
| Subtenant | Move-In Fee (Non-Refundable) | Submission | $250 |
| Shareholder | Sublet Fee (Non-Refundable) | Upon Approval | $13.20 per share to be paid upon approval of the subtenant(s) |
less refinance
| payor | fee | due upon | amount |
|---|---|---|---|
| Shareholder | Application Processing Fee (Non-Refundable) | Submission | $400 |
more refinance
| payor | fee | due upon | amount |
|---|---|---|---|
| Shareholder | Application Processing Fee (Non-Refundable) | Submission | $500 |
| Shareholder | Credit/Background Check Fee (Non-Refundable, (Required)) | Submission | $150 per applicant |
sublet renewal
| payor | fee | due upon | amount |
|---|---|---|---|
| Subtenant | Application Processing Fee (Non-Refundable) | Submission | $225 |
| Shareholder | Sublet Fee (Non-Refundable) | Upon Approval | $13.20 per share to be paid upon approval of the subtenant(s) |
co-op transfer
| payor | fee | due upon | amount |
|---|---|---|---|
| Buyer | Application Processing Fee (Non-Refundable) | Submission | $750 |
| Buyer | Credit Check Fee (Non-Refundable) | Submission | $150 per applicant |
| Buyer | Closing Fee | Closing | $775 |
| Buyer | Lost Stock and Lease Affidavit Preparation Fee | Closing | $400 |
| Buyer | Lost Stock and Lease Review Fee | Closing | $400 |
| Buyer | New Stock and Lease Fee | Closing | $800 if you have lost your stock certificate and proprietary lease, $1000 if you have a mortgage and your lender has lost your stock and lease OR if transfer is due to shareholder death |
| Buyer | Recognition Agreement Fee | Closing | $325 if financing |
| Buyer | Transfer Fee | Closing | $800 if requesting a stock transfer |
single application initiation fee
One-time fee paid by the person who begins the application.
| payor | fee | due upon | amount |
|---|---|---|---|
|
Agent /
Attorney Applicant
Current Resident
|
Sale/Lease
Sale/Lease
Refinance/Renewal
Alterations
|
Initiation
Initiation
N/A
|
$75
$120
Free
|
| Application Participants | Any | N/A | Free |
If you are a real estate agent affiliated with one of our enterprise brokerage clients starting an application is covered by your brokerage.
digital submission fee
| payor | fee | due upon | amount |
|---|---|---|---|
| New Resident | Purchase Sublet/Lease Storage Sale Parking Sale |
Submission | $65 |
| Current Resident | Renewal Refinance Transfer Storage Sale Parking Sale Alteration |
Submission | $45 |
app admin fee
| payor | due upon | amount |
|---|---|---|
| Any Participant Paying Building Fees | Submission | 5% of Total (excluding Digital Submission & Initiation Fees) |
For more detailed information, please see our Pricing page.
All property information and documentation provided by property management.
10/22/25