Join us for an insightful seminar on Local Laws that affect cooperative and condominiums in New York City. Our expert panel will explore the latest compliance and financial considerations for various Local Laws, including upcoming LL97 dead…
As Oliver Wendell Holmes, Jr., once said, taxes are the price we pay for civilization. While that may be true, its truth doesn't make a hefty tax bill any easier to swallow, especially when it comes to city and state property taxes. There…
The New York Public Library is calling out a nearby condo building for imposing a $15,000-a-month fee that could hamper the library's renovation of its Mid-Manhattan branch, the New York Post reported yesterday. According to the s…
The U.S. Treasury Department announced in January that it will begin to track illicit cash purchases of luxury condos in New York and Miami. In New York, the new regulations will apply to cash transactions of $3 million or more. The federal…
Market wide, sales prices for co-ops and condos in Manhattan have been rising steadily year-over-year for the fifth consecutive year. That is according to the latest study, 2017 Manhattan Decade Sales Report , released by Douglas El…
A fire in an condo unit on the 50th floor of Trump Tower that killed one resident on April 7th has drawn attention to the issue of installing sprinkler systems in older, larger residential buildings. In 1999, the City passed a law re…
In the four weeks leading up to May 1, Manhattan's average residential sales price increased significantly while the number of recorded sales saw an uptick. That's what real estate website CityRealty said in its recently-released June…
Based on the latest findings from Douglas Elliman’s second quarter 2018 residential market reports for Brooklyn and Queens, it seems like a tale of two boroughs: one that has long been the arbiter of hip, but is now apparently cooling off; …
There’s much to consider in choosing a co-op or condo in New York City. No one would dispute that school assignment is at the top of that list. While you can renovate a bathroom or kitchen, you can’t change the public elementary school to…
Most people don’t usually think of New York City for its ample greenery. Crowds, traffic, and tall buildings--there’s a reason why it’s usually referred to as a “concrete jungle”. While the Big Apple has its lovely parks, including the most…
Brooklyn’s residential co-op and condominium market ended last year positively, sustaining the market’s expansion, although with a slowdown in closed transactions, according to Corcoran’s recent 4Q 2017 report . “Closed sales...took a…
One of the key selling points about New York City living is convenience. To have everything you may ever need a few blocks or subway stops or a delivery away is such a privilege as to offset the Big Apple's exorbitant real estate prices, at…
The day-to-day operation of a residential condo or co-op can certainly be a handful for its board of trusted volunteers. But not to add insult to injury, communal living doesn't happen in a vacuum, and there are likely to be outside activit…
Condo fever continues to spread across New York real estate, replacing any available land with shiny towers. Now that the most obvious places for construction have been exhausted, developers are increasingly turning to smaller co-ops to buy…
Manhattan’s residential co-op and condominium market ended last year on a more stable note than it did in 2016 despite some signs of trouble, according to Corcoran’s fourth quarter 2017 report . “Three of the past four quarters regist…
Editor’s Note: The web article published on 7/14/16 “Give Me a J-51” by John Zurz on legislation sponsored by State Sen. Tony Avella and Assemblyman Edward Braunstein on the J-51 tax abatement program, has been corrected to clarify tha…
Co-op and condo living is subject to lots of rules—some of which come directly from state laws, some from the building or association’s own bylaws, and some from its house rules. Every state has statutes that govern the operation of residen…
The main takeaways that describe the Brooklyn and Queens residential market in the first quarter of 2018 were record-setting prices and slow sales, according to Douglas Elliman's most recent 1Q 2018 report. For Brooklyn condos, the ave…
Even amid a slowdown in the Manhattan real estate market, co-op sales in that borough performed well in the fourth quarter of 2018 compared to condos, according to a new report by Douglas Elliman released today. The brokerage…
After a strong January and February, real estate demand in New York City - particularly in Manhattan, Brooklyn, and parts of Queens - is seeing a surge as we enter the spring months. According to Mansion Global , new signed contracts f…