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September 12, 2017 0 Comments

Buying for the first time in NYC? Be sure to prep your finances first

Buying a home is likely the most serious financial commitment you’ll ever make, and NYC’s challenging—and perhaps even punishing—real estate market makes the task especially daunting. But though the process of finding your first New York home can be grueling, it doesn’t seem to deter buyers as the city’s population continues to grow. Click here to read more

September 12, 2017 0 Comments

5 Everyday Activities That Could Screw Up Your Mortgage Application

It’s no secret that buying an apartment in New York is hard. Finding just the right place, competing with other buyers, and ultimately forking over enough money to claim your piece of the city—the process is stressful and unpredictable. If you have managed to save enough for the sizable down payment most of the city’s properties require, you don’t want to be held up by something as minor as a mortgage application. Click here to read more

September 12, 2017 0 Comments

5 Pet-Friendly Apartment Additions That Won’t Clutter Up Your Place

A recent renovation of a Windsor Terrace townhouse featured in The Cut included revamps that benefited not only the homeowners, but also their cats. In addition to brightening the space and updating the kitchen, the couple’s architect installed bookshelves along one wall with beveled tops that the cats can use as tracks, and trap doors at the highest points to provide feline-sized entry points to rooms on the second floor. Click here to read more

September 7, 2017 0 Comments

How to prepare to rent in NYC if you are not from the US and/or do not make 40x the rent…

If f you’ve ever rented—or attempted to rent—an apartment in New York City, you’re likely familiar with that Sisyphean frustration that takes hold of even the most dogged would-be renter. Between the piles of paperwork (bank statements, tax returns, pay stubs), financial hurdles (most landlords require applicants to make 40 to 50 times the monthly rent and have a credit score above 720), and the always-churning system that requires would-be tenants to move quickly or move on, the prospect of signing a lease can seem impossible. Click here to read more

September 7, 2017 0 Comments

Are you considering a landlease building? Read this….

Land lease buildings in NYC typically trade at a discount because of the uncertainty associated with lease renewals. This presents a great opportunity for savvy buyers with experienced buyers’ agents if they understand what happens when a land lease expires. Click here to read more

September 7, 2017 0 Comments

4 Smart Strategies to Pay Off Your Mortgage Fast

For most of us, there’s an implicit understanding that buying a home will nearly drain your bank accounts. You’ll shell out for the down payment, the home inspection, and—just when you think you’re done—the closing costs. OK, you’re forking over a ton of cash upfront, but once you’re past that, you’re golden, right? You are—until you remember that you have to actually make payments on that mortgage you got. Click here to read more

September 7, 2017 0 Comments

The Parents Guide to Buying and Renting in NYC

With back-to-school season upon us (New York City public schools start tomorrow!), we’ve been thinking about all the challenges—benefits, too!— of raising kids in this crazy city of ours. And when you think city living for families is all just too much, we suggest you reread this: “8 reasons your children should grow up in New York.” (One totally legit plus: less fear over drunk driving.) Click here to read more

September 3, 2017 0 Comments

Best Neighborhood Blogs of 2017!

Every year, we dig through the city’s hyper-local news outlets to highlight the best and brightest of NYC’s neighborhood blogs. And with more and more New York-centric news sources shrinking or simply shuttering, these small-scale, bootstrap operations play a more vital role than ever in keeping New Yorkers informed, entertained, and generally as in-the-know as we expect (or demand) to be. Click here to read more

September 3, 2017 0 Comments

What Are HDFC or Income Restricted Buildings?  

There’s an interesting class of buildings in New York City that provide an affordable housing alternative for limited-income buyers. These are called “Housing Development Finance Corporation” buildings (HDFCs) or what is called restricted sale buildings. There are about 1,200 of these cooperative buildings throughout the city that contain upwards of 26,000 units. Click here to read more

September 3, 2017 0 Comments

What is a Sponsor Unit?

A special category of apartments in New York City are called “sponsor units.” Basically, a sponsor unit in a condo building is a residence that has been owned by the developer and it’s going up for sale for the first time. Or in the case of a co-op, it is owned by the original owner or the corporation that originally converted rental units into co-ops. Click here to read more

September 3, 2017 0 Comments

What is a 421a Tax Exemption?

The 421a Tax Exemption measure expired in January 2016 when New York state lawmakers could not agree on terms for a new deal. That left New York City developers, politicians and real estate professionals wondering how development projects would be funded in NYC. It also presented concern that affordable housing units — which had been boosted by provisions in the 421a Tax Exemption — would cease to keep up with critical demand from New York City residents. Click here to read more

July 18, 2017 0 Comments

How does Trader Joes affect real estate?

Trader Joe’s is on something of an expansion kick here in the city, with the grocery chain planning to open new locations in SoHo, on the Upper West Side, in the East Village and on the Lower East Side in the next year or so. But aside from easy access to Speculoos cookie butter and peanut butter-filled pretzels, are there other reasons for soon-to-be-neighbors to rejoice? Click here to read more

July 18, 2017 0 Comments

What is it like to live in a NYC landmark building?

Ask New Yorkers to define their city, and they’ll likely tell you that a signature trait is its constant state of flux. And perhaps it’s because gleaming new towers rise and beloved businesses vanish seemingly by the day that many locals fight fiercely to preserve a sense of the city’s history. The Landmarks Preservation Commission, the agency that oversees the designation of historic districts and individual landmarks, has a map that reveals the city’s many protected oases, like Murray Hill’s semi-hidden Sniffen Court and the leafy enclave of Sunnyside Gardens, which shiny new development isn’t allowed to touch. Click here

July 19, 2017 0 Comments

Check this out! New York metropolitan area is undervalued by 10.4%.

Looking for a deal on a home, and hunting nationwide? There are two very different ways to play it, exemplified by two very different cities. If you’re short on money but long on time consider Detroit. Housing is cheap in the Motor City and recovery is always just beyond the horizon. Meanwhile, economic fundamentals suggest home prices in the New York area have room to grow–but affordable they are not. Click here to read more