Articles
For Buyers
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.
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.
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.
For Sellers
What Is A Capital Gains Tax?
When selling a property (an asset) for a profit, you will have to pay capital gains tax, the amount of which is determined by several factors.
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.
What Is An HDFC Building?
An HDFC building is subsidized housing for low to medium-income families, mainly for owner-occupation.
For Renters
6 Things You Need To Know Before You Find Your First Tenant
Subletting Rules of Your Building If you own a single-family home or a multi-family property,
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.
How To Sell Your Co-op Apartment In NYC
How Is Selling A Co-op Different From Selling A Condo? A technical difference between a
Commercial
18 Best Steakhouses In NYC
Best Steakhouses In Manhattan Keens Steakhouse (72 W 36th St): Keens is a USDA-Prime-only steakhouse
3 Types of Listings In NYC
Exclusive Listings Exclusive listings are the most common type of sales listing in the NYC real
Your Comprehensive Guide To NYC Luxury Amenities
New York is home to some of the world’s most impressive and exclusive real estate.
Neighborhood Series
10 Oldest Buildings In Manhattan
1. Fraunces Tavern (54 Pearl St) Construction: 1719 to 1722 Originally built between 1719 and
Midtown West
Midtown West, also known as Hell’s Kitchen, has grown past its industrial roots, and it’s now a thriving residential neighborhood.
Astoria
Astoria is home to a lively and diverse population, great restaurants, and a few must-see attractions.
New Development
What Is A Luxury Apartment in NYC?
A luxury apartment is not an official term. There are no specific criteria related to
Joining A Co-op Board In NYC: What Can You Expect?
Co-op Board in NYC Co-op boards in NYC have two legal obligations: Following the co-op’s
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.
