Articles
For Buyers
What is New Development?
New development is usually a newly constructed or heavily renovated structure that is for sale directly by the developer responsible for the construction/renovation.
The Process Of Buying A Townhouse Or Single-Family In NYC
A townhouse or single-family offers more privacy and control, but it comes with its own sets of challenges and problems that you should be aware of.
What Is Due Diligence And Why Is It Important When Buying A Property/Apartment?
Due diligence is the process of looking at the financial and legal issues of the property you are trying to buy, and it’s usually conducted by an attorney.
For Sellers
Air Rights – What Are They?
Air Rights or development rights refer to the building/selling rights a lot owner in NYC has for the maximum buildable area they haven’t utilized yet.
Co-Op Financial Requirements in NYC
Co-op financial requirements in NYC are stricter than the requirements for buying a condo and you might need to save much more than the usual 20% for down payment, to meet the financial requirement for a co-op board.
What Is A Flip Tax / Transfer Fee
A flip tax is a transfer fee (usually between 1% and 3%) that co-op sellers have to pay when selling their apartments.
For Renters
10 Steps To Follow When Renting Out A Condo
Step-1: Learn About NYC Rental Laws Before you rent out your condo (or any other housing unit) in NYC, you
What Do Renters In NYC Need To Know About Security Deposit?
As a renter in NYC, you need to understand how much security deposit your landlord is allowed to ask for and what your rights are when it comes to getting it back.
What Are Doorman Buildings?
Doorman buildings in NYC are buildings that are manned 24/7 by a doorman who controls entry to the building and provides additional services like signing for deliveries.
New Development
What Is A Certificate of Occupancy (C of O)?
In NYC, a Certificate of Occupancy is issued by the Department of Buildings and determines the use and occupancy status of a building. Read on to find out more.
Sponsor Units – What Do NYC Apartment Buyers Need To Know About Them?
Sponsor units are builder or developer-owned apartments in condos and co-ops that can be sold by bypassing board approval requirements.
Downsizing in NYC – Strategies and Best Practices
Whether you rent or own your home in NYC, there comes a time when you have to upsize or downsize
