What Is Board Approval?

Board approval is the permission you need from the condominium or co-op board before purchasing and occupying (or renting out) an apartment in the building.

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What Is ACRIS?

ACRIS allows buyers, property owners, brokers, and attorneys to look at and gain insights from property documents like deeds and mortgage records.

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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.

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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.

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What Is Amortized or Net Rent?

Net effective rent or amortized rent is calculated by dividing the total rent you have to pay (after discount) over the term of the lease by total months in the lease.

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What is a LEED Building?

LEED buildings are energy-efficient and eco-friendly structures that are awarded a LEED certificate. Different LEED certifications indicate how green a building is.

What Is A CAP Rate

Cap rate is the ratio of an income-producing property’s Net Operating Income and market value, which gives a simplistic idea of the property’s return potential.

What Is A Gut Renovation?

Compared to partial or cosmetic renovations, a gut renovation project can be costly, challenging, and time-consuming, but it allows you to recreate your home interior almost from scratch.

Financial District

Financial District is home to some of the most iconic and historically important buildings and institutions in NYC.

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West Village

If you are looking to visit a beautiful, quiet, and powerfully historical neighborhood in Manhattan, West Village should be among the first choices.

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Astoria is home to a lively and diverse population, great restaurants, and a few must-see attractions.

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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.

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What Is A Mortgage Recording Tax?

Property buyers in NYC need to pay a Mortgage Recording Tax when taking out a mortgage to buy a property or refinance an existing property.

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