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.
Written by: Brett Ari Fischer - The New York City Broker
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.
Written by: Brett Ari Fischer - The New York City Broker
What Is An Aztech Document?
The Aztech document allows co-op apartment buyers to get financing, while lenders and co-op board agree on mutually beneficial terms.
Written by: Brett Ari Fischer - The New York City Broker
Astoria
Astoria is home to a lively and diverse population, great restaurants, and a few must-see attractions.
Written by: Brett Ari Fischer - The New York City Broker
What Are Real Estate Assessments?
Assessment is an additional monthly expense that can be levied over co-op or condo unitholders to meet an expense for which there is not enough money in the reserve funds.
Written by: Brett Ari Fischer - The New York City Broker
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.
Written by: Brett Ari Fischer - The New York City Broker
What Is An Alteration Agreement?
The alteration agreement specifies all the rules and regulations regarding alterations in any apartment in the building and has to be signed before alterations are made.
Written by: Brett Ari Fischer - The New York City Broker
What Are All-Cash Transactions?
Buying a property in an all-cash transaction, unlike buying with financing, allows buyers to close on a property much faster and makes the whole process relatively simpler.
Written by: Brett Ari Fischer - The New York City Broker
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.
Written by: Brett Ari Fischer - The New York City Broker
