Buying in NYC

New York co-op apartment buyers typically do not pay for co-op title insurance, primarily because it's not a required closing cost and also because a co-op lien search already affords them $50,000 in coverage against any missed liens. However, buyers' …

Do Buyers Need Co-op Title Insurance in NYC? Read More »

The Coronavirus pandemic will likely have several long-term effects on the NYC real estate market, such as accelerated adoption of 3D Virtual Tours and a new wave of permanent rules and restrictions on open houses implemented by condo and co-op …

What Is the Coronavirus Long Term Impact on NYC Real Estate? Read More »

Rent security deposits in NYC and in New York State are capped at one month of rent according to the Housing Stability and Tenant Protection Act of 2019. Within fourteen days of a tenant vacating, a landlord must provide the …

NYC Rent Security Deposit Laws in 2020 Read More »

A co-op tax abatement assessment allows a co-op to raise additional revenue for ongoing building operations and capital improvements by ‘capturing’ tax abatement or tax exemption proceeds paid to the co-op corporation by the city of New York instead of …

What Is a Co-op Tax Abatement Assessment in NYC? Read More »

Legislators in Albany, New York have recently been working on ‘Good Cause Eviction’ legislation (Senate Bill S2892B) which, if passed into law, would cap annual rent increases in NYC to 3% for all apartment types (including market rate units) and …

How Will Good Cause Eviction Change NYC Real Estate? Read More »

At Hauseit, we fully realize that it's not possible for many buyers and sellers to simply put a hold on their lives due to the Coronavirus crisis, and that showings and open houses will need to continue to be held. …

How Sellers and Buyers Can Stay Safe During the Coronavirus Pandemic Read More »

A classic six is a pre-war apartment with six main rooms including a master bedroom, a second bedroom, a living room, a kitchen, a dining room and a smaller's maid's bedroom. Classic 6 apartments are relatively rare, and can be …

What Is a Classic Six Apartment in NYC? Read More »

Real estate brokerages generally never hire real estate agents as employees because of the extremely onerous process and additional cost involved with hiring an employee vs an independent contractor. Furthermore, federal and state legislatures both recognize the unique nature of …

Why Real Estate Brokerages Don’t Hire Employees Read More »

The wet-over-dry rule prevents apartment owners from moving wet spaces such as bathrooms and kitchens over dry spaces such as living rooms on floors below. The rule helps prevent water damage as well as mitigate water damage when leaks do …

The Wet Over Dry Rule and Ways Around It Read More »

Buying a former Mitchell-Lama co-op that has since been privatized is typically no harder than buying a normal co-op apartment, with the exception that you should take special care to make sure that any special flip taxes levied against pre-privatization …

Guide to Buying a Former Mitchell-Lama Co-op in NYC Read More »