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Why are most new developments that come to market these days, formed as condos instead of co-ops?

That’s a great question and one that we get asked a lot from our clients who are curious about the inner workings of the NYC residential real estate market.  One major reason...

What are the rules for defining a room as a legal bedroom? I’ve come across online listings that seem to consider a tiny room or one with no windows as a bedroom.

As a baseline answer, if a room is extremely small (e.g. feels like a closet) and/or does not have a window, then in most cases, it will not be considered a legal...

How long does it typically take for bank wires to process and reach an intended account?

This can depend on a number of factors including whether the wire is transferred from one account to another at the same or different banks, which banks are involved, if the origin...

How are real estate taxes determined in NYC? Is there a set annual percentage increase?

What does it mean when it says a building has a “land-lease”?

http://www.brickunderground.com/buy/what-is-a-leasehold-condo

What are the primary differences between condos and co-ops?

What is the difference between Pre-War and Post-War apartment buildings?

On a simple level, each designation denotes the time period when an apartment building was built in relation to the end of World War II (i.e. 1945).  Generally, most people have a...

What is going on with the 2nd Avenue subway? Is there a long-term schedule planned for the construction?

Anyone living on the Upper East Side near or east of 2nd Avenue is well aware of the massive construction that has been going on over the last few years.  This project...

What is a condop and how is it different from a co-op and condo?

What are the different types of tax abatements that a building can qualify for?