Co-op vs. Condo: What’s the Difference?
Cooperatives (Co-ops) Co-ops represent approximately 70% of Manhattan’s available housing inventory. When purchasing a co-op, you’re not buying real property but rather shares in a…
Anticipated Seller Closing Costs
For Co-op Sales: Broker commission: Typically 5-6% of sale price Attorney fees: $2,500-$5,000 NYC transfer tax: 1% of price over $500,000 NYS transfer tax: 0.4%…
10 Steps to Buying in Manhattan
1. Prepare Financially Determine your budget and secure mortgage pre-approval Prepare for substantial closing costs (1-4% of purchase price) For co-ops: Prepare to show substantial…
The Unpredictable World of Coop Board Applications
The Coop Conundrum: When Board Approvals Become a Rollercoaster RideNew York City’s real estate market is unique, and cooperative housing represents one of its most…
Cheryl’s News & Views on the City That Never Sleeps
Can you believe it’s already February? It is a leap year, so February has an extra day, there will be 29 days in February, rather…
Cheryl’s News & Views on the City that Never Sleeps
MANHATTAN | JANUARY 2024 As we embark on the first market update of 2024, let’s review the trends, shifts, and notable events that shape the financial landscape.It…
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