Emily Myers

A red herring notice is the paperwork issued to renters when a landlord or sponsor wants to convert a building from rentals to condos or a co-op. In the past, tenants who weren't in a position to buy might face eviction, but that changed in 2019.

This week two high school teachers share their experience buying a co-op in Forest Hills, Queens. Stephanie and Gregg Bolsaro (pseudonyms) bought a 950-square-foot one-bedroom co-op without a buyer's broker so they found themselves relying heavily on the seller’s broker to guide them through the interview process, but say it was their letters of recommendation that clinched the deal.  

Brick Underground breaks down what you need to know in order to achieve your real estate goals for 2020. Buyers, sellers, and yes, renters, now are more interdependent than ever before.

There are several ways to take advantage of NYC's oversupply in luxury condos and buying a unit from a developer offering extreme incentives is one of them. This studio, 121 East 22nd St., #N503, with an asking price of $1,310,000, falls in that category.

The oversupply of luxury condos is a defining feature of the current real estate market in NYC and has been for the past two years. For buyers, “it’s a moment of improved affordability,” says Jonathan Miller of appraisal firm Miller Samuel.

While rent reform didn't go as far as some advocates were hoping for, there are some changes that impact market-rate tenants, including a cap on security deposits and late fees, plus a ban on landlords using the tenant blacklist, even though enforcement for this last one may be difficult.