Tag Archives: NYC real estate

Title Insurance: Do You Know What You’re Paying For?

title insurance ripoffs

Can a homebuyer or mortgage refinancer actually pay too much buying title insurance? Isn’t title insurance all the same no matter who’s providing it? Won’t my attorney/mortgage banker be looking out for my best interests? The answers to those questions are a qualified yes, no and hopefully so! With the Spring buying season now upon us and […]

Renting An Apartment In NYC? Some Important Do’s And Don’ts!

List Of The NYC Apartment Rental Do

For anyone about to hunt for their first NYC apartment rental or for an apartment renting veteran, some advice from an article at Thrillist.com on common mistakes to avoid! Thrillist.com columnist Melanie Lieberman ‘spoke to a number of New York City real estate pros — licensed agents and other authorities on the city’s rental market — […]

NYC Supertalls: Where Size Does Matter!

supertall buildings in NYC

Driving into Manhattan from Long Island one can’t help but notice that dotting the skyline are buildings that dwarf those around them! These, are the supertalls! Defined as a building that is greater than 984-feet tall, these buildings include the famous such as One World Trade Center as well as the infamous like 432 Park Avenue. […]

Mold In The Home? All Is Not Lost!

If a prospective homebuyer or the current homeowner has an inspection done and hears the phrase MOLD PROBLEM uttered, the level of concern and anxiety rises very quickly! For the homeowner and/or home seller they know that a mold issue in the house is not only a potential health concern, but that it will turn-off buyers and […]

In 2017, NYC Residential Landlords Will See Their Pricing Leverage Decline And Shift To Renters!

NYC apartment rents declining

As a front row witness to the exorbitant and ever-increasing apartment rents being asked for and received by landlords across NYC, will 2017 see rents declining with a shift in power to the renters? Take heart New Yorker renters, you may finally have hand! April 9, 2016 in the article at the Hallmark Abstract blog titled, […]

2016 Final Results: NYC Residential Real Estate Statistics For Sales $4 Million And Up

A report compiled by Olshan Realty provides a complete rundown of the 2016 results in the NYC/Manhattan residential real estate market for sales above $4 million!  2016 ‘saw an 18% decline in contracts over 2015. Year to date, 1102 properties had contracts signed totaling $8,937,866,862. The numbers are higher than 2012, but below the golden years […]

432 Park Avenue Penthouse: 8,200 Sq. Feet Of Luxury Priced At $10,000 A Foot!

NYC luxury real estate

  From the ‘if you have to ask the price you can’t afford it’ file, the 432 Park Avenue penthouse located on the 95th floor has an asking price of $82,000,000! If that price is paid, it would result in a value of $9,933 per square foot. But unbelievably, that is well below the closed sale price […]

Changes To NYC Air-Rights Policy Are On The Horizon

The de Blasio administration is considering changes to NYC air-rights policy! Summary: Two changes that are currently under consideration…  ‘The first would involve private transactions, which allow developers to buy unused square footage from owners on the same block…Community groups have criticized the process as being too opaque, and have suggested that the city increase transparency […]

Buying (Managing) An Apartment Building? These Are 9 Hidden Costs You Need To Consider!

NYC apartment buildings

9 Hidden Costs For Operating An Apartment Building That Can Impact Profitability, AKA The Investors Return On Investment! If an investor is looking at an apartment building to buy, the classic valuation methodology will be Net Operating Income or NOI divided by an assumed capitalization rate for a given neighborhood! This is true whether the […]

Have NYC ECB Violations In Judgement? How Does An Amnesty Program Sound?

Photo: NYC.gov

Beginning September 12, 2016 and running through December 12, 2016, NYC under certain conditions is offering amnesty for ECB violations that are in judgement! These are some of the most frequently asked questions and explanations. Forgiving Fines: The NYC Amnesty Program Frequently Asked Questions 1. What is “Forgiving Fines: The NYC Amnesty Program”? It’s a […]