Along with other major criteria (location, square-footage, 'light,' 'air,' etc.) a good view from one or more windows can be a big selling point for an apartment. In fact, many a buyer has purchased their unit based on the view. Some will e…
he Council of New York City Cooperatives & Condominiums (CNYC) has announced a number of new amendments and changes to city rules and regulations in a notice to members. Effective November 15, 2019 , there are new requirements fo…
The Federal Housing Administration (FHA), which insures mortgages made by private lenders and banks, will ease condo financing regulations to open up homeownership for more first-time buyers, effective October 15, reports Yahoo! Finance.…
Back in September, Governor Cuomo signed into law a bill passed by the New York State legislature meant to make public knowledge the actual owners of one-to-four family homes purchased under the guise of LLC’s, limited liability corporation…
Bloomberg Quint reports that another blow may be heading toward the high-end real estate market, in the form of a revived effort by state lawmakers to impose a tax on second-home purchases of $5 million or more. This tax follow…
According to Real Estate Weekly , an Upper East Side co-op recently scored legal victory over a litigious shareholder. The co-op, at 12-14 East 64th Street, was granted nearly $400,000 in legal fees in a case that stemmed from flood dama…
This past June, the New York State Legislature and Governor enacted into law a sweeping overhaul of landlord-tenant relations throughout the State; just a few days later, these same powers enacted amendments to those amendments. While relat…
According to The Wall Street Journal, Governor Andrew Cuomo signed a bill last month requiring limited liability companies (LLCs) entering into residential real estate transactions to disclose the identities of their individual members.…
The benchmark for calculating capital gains on your unit is determining your cost basis in the unit. The cost basis for co-op and condominium units is calculated on the original purchase price of the shares or unit, plus capital improvement…
As much as a prudent, conscientious board may try to keep a lid on expenditures, sometimes shelling out is unavoidable. When it comes to legal costs though, 'shelling out' can often result in a bad case of sticker shock. In this clip, legal…