Articles
For Buyers
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.
What Is An Appraisal?
Property appraisal is the process of evaluating a property to determine its fair price in the current market. It’s performed by third-party professionals called appraisers.
HOAs vs. Common Charges vs. Real Estate Taxes
HOA fees and condo common charges are paid to the managing bodies responsible for the community, while property taxes are paid to the city government.
For Sellers
What Do You Need To Know About A CEMA Loan?
CEMA loans are available for people who want to refinance their mortgage (and sometimes to buyers) and allows them to save money on mortgage recording tax.
What Is An Exclusive Listing?
An exclusive listing in NYC is when only one broker has the exclusive rights to list and market a property. This gives them the surety of earning the commission.
What Is An Estate Sale?
Estate sale refers to the real estate that is being sold by the heirs or a trust (or the state) after the passing of the owner of the property.
For Renters
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.
Rent-To-Own: What It Is And How It Works In NYC
Rent-to-own can be an amazing option for people who want to make a move from renting to buying but still need time to save enough money or build credit.
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.
Commercial
What Are Flood Zones and Flood Insurance?
When you are buying an apartment in NYC, it’s important to see if it’s in a flood zone. This may require you to buy flood insurance and increase your homeownership cost.
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 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.
Neighborhood Series
Riverdale
Riverdale offers a unique mix of urban and suburban environments and a lot of greenery and natural beauty.
Upper East Side
Upper East Side has been home to affluent individuals and families for over a century, which has imbued the neighborhood with unique attractions.
Park Slope
There’s more to Park Slope than just its proximity and connection to Prospect Parks. It has a rich history and offers a beautiful blend of old brownstone architecture and greenery.
New Development
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.
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.
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.
