Brick Underground

New York City’s rental market followed a similar trajectory in February as previous months—with higher rents and declining concessions—but there were a few surprises.

New York Attorney General Letitia James asked for more time to respond to a lawsuit filed over the landlord broker fee ban by the real estate industry last month.

Buyer agent commission rebates in NYC are contributing to falling commission rates for sellers and lower closing costs for buyers.

If you are buying an apartment in New York City, you should know that when you live in a co-op, you pay maintenance fees, and when you live in a condo, you pay common charges. These fees are structured differently, depending on which type of apartment you own, reflecting the different types of ownership.

“Liquidated damages are fees imposed by a condo or co-op board to give the building some control over a shareholder or owner’s renovation project,” says Niki Khindri, an associate attorney at Manhattan law firm Wagner, Berkow & Brandt, who negotiates construction contracts and handles construction issues for co-op and condo boards as well as shareholders and owners. 

This is Part II of a first-time buyer's story of finding a studio in Chelsea and partnering with Bolster to renovate it.