Buying
What’s the average charge per square foot for co-op maintenance for a studio and one-bedroom in the West Village?
Q: What’s the average charge per square foot for co-op maintenance for a studio and one-bedroom in the West Village (Manhattan)? Read More.
My company is considering moving its activities to New York City. Is there a PPSF index for Soho?
Q: My company is considering moving its activities to New York City. Soho appears to be the best location—can you possibly provide a square foot/price index for that specific district in NYC? Thank you for your help. Read More.
Is it necessary to disclose my financial information at the time I submit my offer on a co-op?
Q: When an offer is made to a seller in a co-op building, is it necessary at that time to provide the seller’s broker with financial information? Twice after I provided a rather detailed financial statement upon my broker’s request, the seller then came back and raised the price 10%. My broker assured me that my financials met the criteria for the building and, in both cases, I met what the seller asked for or what the broker told me the seller would take. I believe the disclosure has been a disadvantage to me, and that after the sellers have seen my financials, they have been led to believe I would offer more. Read More.
My co-op is raising the monthly maintenance fees, which are already high. What are the consequences?
Q: My co-op in Westchester County is raising again the monthly maintenance fee. As a holder of one of the biggest apartments in the co-op, my quota is going very soon to be equal to my monthly mortgage. What are the consequences of this? Read More.
I’m thinking of purchasing a home. What do I need to know about doing a title and lean search in order to protect myself as a buyer?
Q: I know that before you purchase a house, you should do a title and lien search to protect yourself as the buyer. What are the key factors to look for? What are some “red flags”? What parts of each search document are vital? What are the terms I need to know, their meaning, etc.? Please explain in simple detail… Thank you. Read More.
3rd Quarter 2012 Market Report Snapshots
Below you’ll find brief summaries of our findings from this quarter’s market reports, which we produce four times a year in conjunction with Miller Samuel, Inc. While each market is unique, the major overarching trend that we saw as consistent across the board was high demand (due to record-low mortgage rates and continually increasing rental prices) and low inventory, or supply. In several of the markets, this produced something of a domino effect on the other indicators. For example, many of the markets showed faster monthly absorption rates (indicative of market pace) and increased days on market (indicative of the fact that because there was not enough new inventory to meet increased demand, older properties that had been sitting on the market for a longer period of time started to sell off). Follow the links below to read the full … Read More.
Can you pay a broker fee in installments?
Q: Would you ever consider a payment installment plan for your broker fee? For example, if I found a place through you and was able to pay the 12-15% fee, could we set up a structure to pay that fee over the course of a couple weeks? Many thanks. Read More.
Is it true that a sponsor unit in a co-op building doesn’t fall under the building’s subleasing rule and can be a good investment property?
Q: Is it true that a sponsor unit in a co-op building doesn’t fall under the building’s subleasing rule and can be a good investment property? Thanks. Read More.
How does a co-op board interoperate debt-to-income ratio?
Q: When buying a co-op in Manhattan on Park or 5th Avenue, how does the board interoperate debt-to-income ratio? Is debt considered just the maintenance? Read More.
How much of an advantage does paying all cash play in purchasing an apartment?
Q: How much of an advantage does paying all cash play in purchasing an apartment? Read More.
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