Buying in NYC Archives

What are the advantages and disadvantages of investing in a duplex property? Tax benefits, sources of stress & more in this article.

Are Duplexes a Good Investment?

By Sonja Gosine, Spokesperson at Hauseit® / January 25, 2023 January 25, 2023

Buying a duplex can be a great investment, especially if you're a first-time landlord willing to roll-up your sleeves and manage a tenant that literally lives next door. Not only will the property be easier to manage since you can …

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What's the point of a juliet balcony? Where is it from? Does it increase property value? Examples of what a juliet balcony looks like & more.

What Is a Juliet Balcony?

By Sonja Gosine, Spokesperson at Hauseit® / January 11, 2023 January 12, 2023

A juliet balcony is a thin balcony that only ranges in depth from inches to a few feet, and typically not enough to accommodate any outdoor furniture. Juliet balconies are helpful design additions to buildings where adding a full-size balcony …

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Who has to pay NYC income tax? What about part-time residents? Are there are tax credits or abatements? NYC & NYS income tax brackets & more.

New York City Income Tax

By Sonja Gosine, Spokesperson at Hauseit® / January 10, 2023 January 24, 2023

New York City is one of the few cities that levies its own income tax on residents and those with New York sourced income, on top of what New York State charges in income tax. This may come as a …

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What Is a Building Super and What Do They Do?

By Sonja Gosine, Spokesperson at Hauseit® / January 3, 2023 January 3, 2023

A building super is responsible for the maintenance and upkeep of a residential or commercial building. The word super is an abbreviation for superintendent. The responsibilities of a super can include fielding maintenance requests, making small repairs, cleaning the common …

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Download the latest REBNY Financial Statement template. Read our comprehensive guide to completing the REBNY Financial Statement.

Sample REBNY Financial Statement

By Sonja Gosine, Spokesperson at Hauseit® / January 3, 2023 January 3, 2023

The REBNY Financial Statement provides sellers and listing agents with an overview of your financials. It's typically required when submitting an offer on a co-op apartment in NYC in order to determine whether you meet the co-op's financial requirements. Click …

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The Special Clinton District is a special NYC zoning district with height restrictions which extends west of Eighth Avenue from W 41st to W 59th Streets in Manhattan.

What is the Special Clinton District in Manhattan?

By Sonja Gosine, Spokesperson at Hauseit® / December 1, 2022 December 6, 2022

The Special Clinton District is a special NYC zoning district which extends west of Eighth Avenue from West 41st Street to West 59th Streets in Manhattan. It was created in 1974 in order to preserve the neighborhood’s low-scale and largely …

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The terms ‘under contract’, ‘pending’ and ‘contingent’ in real estate are often used interchangeably, but they have slightly different meanings in some areas.

Contract vs. Pending vs. Contingent in Real Estate: What’s the Difference?

By Sonja Gosine, Spokesperson at Hauseit® / November 19, 2022 November 19, 2022

The phrases ‘under contract’, ‘pending’ and ‘contingent’ in real estate are often used interchangeably, but they have slightly different meanings in some areas. All of these terms signify that a home has an accepted offer and there is a fully …

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Students are not a protected class under NYC, NYS or federal fair housing laws. However, a student may fall under other protected classes such as age and familial status.

Are Students a Protected Class in NYC Real Estate?

By Sonja Gosine, Spokesperson at Hauseit® / November 7, 2022 November 7, 2022

Students are not a protected class under NYC, NYS or federal fair housing laws. This may come as a surprise since NYC has the strictest fair housing laws in the country. However, students in NYC may fall under other protected …

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NYC affordable housing lotteries are available for qualifying households with incomes up to $255,420. Learn how to apply.

How to Apply for a NYC Affordable Housing Lottery

By Sonja Gosine, Spokesperson at Hauseit® / November 2, 2022 November 19, 2022

Affordable housing opportunities are available throughout all five boroughs of NYC. These programs are designed for lower and middle income individuals, but the income limits can be surprisingly high for certain lotteries. Affordable housing opportunities in NYC include both rental …

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What is the Right of First Refusal in real estate? How does a Right of First Refusal work in NYC and is it ever used? What does a sample waiver look like?

How Does a Right of First Refusal Work in NYC Real Estate?

By Sonja Gosine, Spokesperson at Hauseit® / September 24, 2022 September 27, 2022

A Right of First Refusal is a typical procedure in a Condominium's By-Laws which allows the condominium corporation to purchase an apartment at the same terms as a prospective buyer who has already signed a contract to purchase a unit. …

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