Buying a Co-op Apartment in NYC Archives

The typical broker fee in New York City ranges from one month (equivalent to 8.33% of annual rent) up to 15% of annual rent. Broker fees vary by listing.

What Is the Average Rental Broker Fee in NYC?

By Sonja Gosine, Spokesperson at Hauseit® / June 28, 2021

Rental broker fees in NYC are notoriously high. The typical broker fee in New York City is anywhere from one month (equivalent to 8.33% of annual rent) up to 15% of the annual rent. The amount of the rental broker [...]

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How much money you need to buy an apartment in NYC depends on whether you’re buying a condo or co-op, the amount of your down payment and whether you’re financing the purchase.

How Much Money Do I Need to Buy an Apartment in NYC?

By Sonja Gosine, Spokesperson at Hauseit® / January 29, 2020

You need to have 22% to 26% of the purchase price saved for a condo and 21% to 22% of the purchase price saved for a co-op (assuming 20% down) to buy an apartment in NYC. These figures exclude mortgage

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The average down payment for an apartment in NYC is 20% of the purchase price. Most co-ops and some condo buildings in New York City have minimum down payment requirements for buyers.

What Is the Average Down Payment for an Apartment in NYC?

By Sonja Gosine, Spokesperson at Hauseit® / January 29, 2020

The average down payment for an apartment in NYC is 20% of the purchase price. While it’s possible to put down 10% or less on many condos in the city, most co-op apartments have stricter financial requirements which require a

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REBNY Financial Statement Template

By Sonja Gosine, Spokesperson at Hauseit® / January 24, 2020

The REBNY Financial Statement is almost always required when submitting an offer on a co-op apartment in NYC. The REBNY Financial Statement is a high-level summary of your assets, liabilities, income and projected expenses. Submitting a REBNY Financial Statement along

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New construction closing costs in NYC for buyers are 4% to 6%. New development closing costs include NYC & NYS Transfer Taxes and sponsor legal fees.

How Much Are New Construction Closing Costs in NYC?

By Sonja Gosine, Spokesperson at Hauseit® / December 9, 2019

New construction closing costs in NYC for buyers are 4% to 6% of the purchase price. A typical financed buyer on a new development condo purchase in NYC will pay closer to 6% in total closing costs. Buyer closing costs

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How to get Schedule A pricing, allowed variances, outside dates, delays in construction when buying a pre-construction condo and more explained.

The Complete Guide to Buying a Pre-Construction Condo

By Sonja Gosine, Spokesperson at Hauseit® / June 24, 2019

Buying a pre-construction condo can be advantageous primarily because of better pricing vs a project that is ready for immediate occupancy. However, buying a pre-construction condo also comes with many risks such as delayed completion, abrupt notices to close, variances

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Comprehensive guide on the J-51 tax abatement and what buyers should look out for. How to verify and calculate J51 benefits, expiration and more.

Buying an Apartment with a J-51 Tax Abatement

By Sonja Gosine, Spokesperson at Hauseit® / March 13, 2019

The J-51 tax abatement is one of the most misunderstood tax abatements when it comes to buying an apartment. Not only is it more rare to find in condos and co-op apartments for sale, its very complexity tends to tie

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How to Find an Apartment in NYC

By Sonja Gosine, Spokesperson at Hauseit® / February 18, 2019

Finding an apartment to buy is easier than finding an apartment to rent in NYC because listings are exclusively listed by the seller’s representative, whereas the rental market is rife with multiple open listings by many brokers marketing the same

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The cost of gut renovating a typical bathroom in NYC is between $20,000 to $50,000. A bathroom gut renovation is a stressful and time-consuming project.

How to Renovate a Bathroom in NYC

By Sonja Gosine, Spokesperson at Hauseit® / January 31, 2019

The cost of gut renovating a typical bathroom in NYC is between $20,000 to $50,000. A bathroom gut renovation is a stressful and time-consuming project. To make matters worse, there isn’t always a correlation between how much you pay a

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Should You Get a Home Inspection Before Making an Offer?

By Sonja Gosine, Spokesperson at Hauseit® / November 1, 2018

No, you should never order a home inspection before making an offer because you might waste money on a deal that never happens. The seller may not even respond to your offer, and even if your offer is accepted, nothing

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