Articles

Written by: Brett Ari Fischer - The New York City Broker

Person calculating costs with a house model on the desk, symbolizing the taxes involved in selling an apartment in New York City.

NYC Tax on Selling an Apartment

What is the tax on selling an apartment in NYC? It’s a very important question to find an answer to if you are planning on selling your apartment in the city. The answer relies upon what kind of apartment you are selling.

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Row of classic NYC-style brownstone buildings, representing the appreciation trends of apartments in New York City.

NYC Apartment Value Appreciation Trends 

Have you ever wondered – do most people buy or rent in NYC? Over 8.8 million people live in this city and according to the NYC Comptroller office’s estimate, most of them rent.

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Iconic New York City high-rise showcasing air rights potential, ideal for buyers exploring NYC real estate opportunities with guidance from a New York City broker.

What is The Value of Air Rights in NYC?

If you have a property in NYC that has not reached its Floor Area Ratio (FAR) limit, it has unused/unbuilt potential left, called the air rights. So you might wonder – how much are air rights worth in NYC? The simple answer is, they are worth as much as someone is willing to pay for it.

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Two real estate professionals reviewing documents in front of modern NYC apartments, emphasizing the role of New York City brokers in navigating air rights and property laws.

Understanding The New Real Estate Law in NY 

A question you can ask multiple times a year is – What is the new real estate law in NY? While there aren’t new laws every year, sometimes there is more than one real estate-related law in a single year.

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Flatiron Building under dramatic sky, symbolizing NYC's historic architecture and the intricate world of air rights and real estate transactions.

Understanding Air Rights in NYC 

If you have come across this term for the first time, it’s natural to wonder – how do air rights work in NYC? They are not a phenomenon unique to NYC but it’s certainly one of the most famous US cities for it, primarily because of its vertical nature and massive concentration of high-rises.

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Stunning upward view of NYC skyscrapers illustrating the impact of air rights and zoning laws in shaping Manhattan’s real estate skyline.

The Process of Identifying A Building’s Air Rights in NYC

Whether you are buying a building and wonder if it has air rights or you are looking to buy air rights, one important question you need an answer to is: How do I find out if a building has air rights in NYC? Fortunately, the city government has provided the answer.

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