Fewer lenders are willing to finance the purchase of a co-op over a condo. Before you begin your search, make sure you are pre-approved.
The answer differs from building to building. Some co-op boards have a strict prohibition against subletting your co-op apartment. Others may allow for it, subject to certain conditions, which vary.
Co-op board requirements differ greatly from building to building. Typically, after closing, co-op boards require two years worth of mortgage and maintenance reserves in your bank account, derived typically from your income and savings, and after your other expenses.
When you purchase a condominium, you own the actual unit itself. You also have rights to use common areas, such as the exercise room, the party room, and so forth. Fees are charged against occupants for maintenance, insurance and management of these common areas. When you buy into a co-op, you do not own the … Read More
On average, it takes 45-60 days to close a condo, and 60-90 days to close a co-op.
A debate has begun as to whether loft-space in SoHo should still be exclusively rented out to artists in New York City, or whether everyone should have the opportunity to live in a SoHo loft. The debate centers around a 1971 New York City zoning law, which requires each SoHo loft to have at least … Read More
It’s time for everyone’s favorite game! Here’s the deal, we give you the apartment specs and you give us your best guess on what the list price is. The closest to the listed sales price wins a gift! Good Luck! Description: Tribeca Co-op w/ keyed elevator 1000 sq ft Penthouse loft w/ wrap-around terrace Features 11 … Read More
When you're hunting for an apartment, you don't have forever. If it's time to move, you need to move fast. At the same time, it would be great if y
Hunting for an apartment in NYC can be pure pleasure. We prefer it that way—and so will you. Want a historic building? We’ll steer clear of mod