Buying in NYC Archives - Page 12 of 39

Should Your Pre-Approval Amount Match Your Offer Price?

By Sonja Gosine, Spokesperson at Hauseit® / November 10, 2020

Should your pre-approval amount match your offer price? What are the risks and benefits of using a pre-approval letter for an amount which is higher than your offer price? This is a contentious topic for buyers, sellers and brokers which [...]

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The Manhattan Resident Parking Tax Exemption reduces the amount of sales tax a Manhattan resident pays on a parking spot in Manhattan from 18.375% to 10.385%.

What is the Manhattan Resident Parking Tax Exemption?

By Sonja Gosine, Spokesperson at Hauseit® / October 2, 2020

The Manhattan Resident Parking Tax Exemption reduces the amount of sales tax a Manhattan resident pays on a parking spot in Manhattan from 18.375% to 10.385%. The 8% tax reduction works out to about $40/month or $480/year in savings for

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A condo inventory loan is used by real estate developers to pay off maturing construction loans on a fully-built new development condo building.

What Is a Condo Inventory Loan in NYC Real Estate?

By Sonja Gosine, Spokesperson at Hauseit® / September 28, 2020

A condo inventory loan is used by real estate developers to pay off maturing construction loans on a fully-built new development condo building. Initial construction loans used to finance new construction condo buildings in NYC are typically for three year

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The risk of buying into a new development condo building with unsold units is that your apartment's value may decline. You may also face higher common charges.

What Happens If a New Condo Development in NYC Is Unsold?

By Sonja Gosine, Spokesperson at Hauseit® / September 24, 2020

NYC and Manhattan in particular experienced a surge of new construction condos between 2013 and 2018, and thousands remain unsold. This oversupply has resulted in falling prices ever since. While many new development condo buildings continue to sell out successfully,

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Co-op monthly maintenance fees in NYC are not negotiable. Maintenance and assessments are set by the board and driven by a co-op's operating costs.

Are Co-op Maintenance Fees Negotiable in NYC?

By Sonja Gosine, Spokesperson at Hauseit® / September 21, 2020

Co-op monthly maintenance fees in NYC are not negotiable. The amount of monthly maintenance (and the rate and frequency of any increases) is set by each co-op’s Board of Managers and ultimately driven by a building’s cost of operations. The

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Broker commission rebates are legal in NYC and New York State according to Section 442 of the New York Real Property Law, Article 12-A.

Are NYC Broker Commission Rebates Legal?

By Sonja Gosine, Spokesperson at Hauseit® / September 3, 2020

Broker commission rebates are legal in New York State according to Section 442 of the New York Real Property Law, Article 12-A. The legality of buyer agent commission rebates is also affirmed on the New York Department of State, Division

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Is It Worth Owning a Car in NYC?

By Sonja Gosine, Spokesperson at Hauseit® / September 1, 2020

Owning a car in NYC may sound like part-fantasy and part-nightmare, but the truth is that having a car in the city can be cost-effective if you’re the type of person who regularly likes to take leave the city for

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The Oldest Condo Buildings in the Lower East Side

By Sonja Gosine, Spokesperson at Hauseit® / August 21, 2020

The oldest condo building in the Lower East Side of Manhattan dates back to 1872. Most condo developments in LES today are new construction buildings, and condo conversions are increasingly rare. There are many other historic, pre-war apartment buildings in

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Authoritative list of the oldest buildings and structures in Manhattan, New York City with high resolution photos and historical context.

The Oldest Buildings in Manhattan

By Sonja Gosine, Spokesperson at Hauseit® / August 5, 2020

Manhattan's oldest building dates back to 1719. While most of Manhattan's original structures have been demolished and redeveloped over the years, there are several very old and historically significant buildings which are still standing today. Click on the links below

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New York Fair Housing Laws require agents to present the NYS Fair Housing & Anti-Discrimination Disclosure Form to all consumers upon first substantive contact.

What Is the NYS Fair Housing and Anti-Discrimination Disclosure Form?

By Sonja Gosine, Spokesperson at Hauseit® / July 6, 2020

Real estate agents in New York are required to present the NYS Fair Housing and Anti-Discrimination Disclosure Form to all prospective purchasers, tenants, sellers or landlords upon first substantive contact. This regulation went into effect on 6/20/2020. The new Fair

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