Any renovation or remodeling of an apartment or another structure that requires stripping away the walls and flooring to expose the “guts” of the structure is called a gut renovation. A full building or apartment gut renovation sometimes also includes tearing down walls, which leaves you with just the outer structure (shell) and load bearing […]
What Are Flood Zones? Flood zones are areas that are at risk of flooding. They are classified into multiple levels based on how high the risk of flooding is. The original definition and classification are by the Federal Emergency Management Agency or FEMA. The agency produces flood maps that show the areas in any given […]
Cap rate or capitalization rate is a simple ratio that allows real estate investors to understand what percentage of the capital they have invested they will get back as profit (each year). Cap rate can also tell a real estate investor how much profit they are making compared to how much they have invested in […]
What Is A LEED Building In NYC? A building in NYC that’s built or modified to be more energy-efficient, environmentally friendly, and green can receive a Leadership in Energy and Environmental Design (LEED) certification. These buildings are called LEED buildings or LEED-certified buildings. The LEED rating system was created by US Green Building Council (USGBC), […]