Buying in NYC Archives

The risk of buying into a new development condo building with unsold units is that your apartment's value may decline. You may also face higher common charges.

What Happens If a New Condo Development in NYC Is Unsold?

By Sonja Gosine, Spokesperson at Hauseit® / September 24, 2020 September 28, 2020

NYC and Manhattan in particular experienced a surge of new construction condos between 2013 and 2018, and thousands remain unsold. This oversupply has resulted in falling prices ever since. While many new development condo buildings continue to sell out successfully, …

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Co-op monthly maintenance fees in NYC are not negotiable. Maintenance and assessments are set by the board and driven by a co-op's operating costs.

Are Co-op Maintenance Fees Negotiable in NYC?

By Sonja Gosine, Spokesperson at Hauseit® / September 21, 2020 September 28, 2020

Co-op monthly maintenance fees in NYC are not negotiable. The amount of monthly maintenance (and the rate and frequency of any increases) is set by each co-op’s Board of Managers and ultimately driven by a building’s cost of operations. The …

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Broker commission rebates are legal in NYC and New York State according to Section 442 of the New York Real Property Law, Article 12-A.

Are NYC Broker Commission Rebates Legal?

By Sonja Gosine, Spokesperson at Hauseit® / September 3, 2020 September 3, 2020

Broker commission rebates are legal in New York State according to Section 442 of the New York Real Property Law, Article 12-A. The legality of buyer agent commission rebates is also affirmed on the New York Department of State, Division …

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Is It Worth Owning a Car in NYC?

By Sonja Gosine, Spokesperson at Hauseit® / September 1, 2020 September 3, 2020

Owning a car in NYC may sound like part-fantasy and part-nightmare, but the truth is that having a car in the city can be cost-effective if you’re the type of person who regularly likes to take leave the city for …

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The Oldest Condo Buildings in the Lower East Side

By Sonja Gosine, Spokesperson at Hauseit® / August 21, 2020 September 2, 2020

The oldest condo building in the Lower East Side of Manhattan dates back to 1872. Most condo developments in LES today are new construction buildings, and condo conversions are increasingly rare. There are many other historic, pre-war apartment buildings in …

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Authoritative list of the oldest buildings and structures in Manhattan, New York City with high resolution photos and historical context.

The Oldest Buildings in Manhattan

By Sonja Gosine, Spokesperson at Hauseit® / August 5, 2020 August 11, 2020

Manhattan's oldest building dates back to 1719. While most of Manhattan's original structures have been demolished and redeveloped over the years, there are several very old and historically significant buildings which are still standing today. Click on the links below …

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New York Fair Housing Laws require agents to present the NYS Fair Housing & Anti-Discrimination Disclosure Form to all consumers upon first substantive contact.

What Is the NYS Fair Housing and Anti-Discrimination Disclosure Form?

By Sonja Gosine, Spokesperson at Hauseit® / July 6, 2020 July 8, 2020

New Fair Housing Regulations in New York went into effect on June 20th, 2020. The new regulations require agents to present the NYS Fair Housing and Anti-Discrimination Disclosure Form to all prospective purchasers, tenants, sellers or landlords upon first substantive …

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What is a NY Disclosure Form?

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

A NY Disclosure Form, more formally called the New York State Disclosure Form for Buyer and Seller, is an agency disclosure form that real estate agents are required to hand out to home buyers and sellers. The form explains various …

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Qualified opportunity zones are census tracts that are eligible for tax deferred investment via qualified opportunity zone funds. Tax implications & more.

What Are Qualified Opportunity Zones?

By Sonja Gosine, Spokesperson at Hauseit® / May 12, 2020 May 12, 2020

Qualified opportunity zones are census tracts in all 50 states, all U.S. territories and Washington D.C. that have been designated by their respective governors as low income or economically distressed areas, and thus eligible for tax deferred investment through qualified …

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The use of a living trust in New York avoids probate, provides privacy and offers additional protection against court challenges compared to a will.

Living Trust vs. Will in New York: Which Is Better?

By Sonja Gosine, Spokesperson at Hauseit® / May 1, 2020 May 11, 2020

Estate planning is an important yet overlooked topic for many existing homeowners and first time home buyers in New York, particularly in NYC. While the use of a will is the most commonly used way to plan for the distribution …

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