Emily Myers

The amount of leverage you have on negotiating a deposit on a pre-construction condo will depend on whether you are an early buyer or what kind of market it is. Luckily for buyers, you are more likely to be able to negotiate this right now than at any other recent time.

Currently, there are no protections for market-rate tenants when it comes to lease renewal in NYC. A landlord can decide not to renew and there's little you can do about it. The good cause eviction bill aims to correct that statewide. 

So what's the state of the NYC real estate market today? The Brick Underground podcast takes a look at the oversupply of new development which is lagging on the market and considers whether sellers and buyers are out of sync as sellers hold onto an idea of the market based on economic data rather than what buyers are prepared to pay. 

Also, a deal is in the works that could see shareholders of a Midtown prewar co-op get $7,000,000 per unit as they sell out to developers.

Washington Heights fared well recently in Brick Underground's list of best neighborhoods for first-time buyers and came out top in a list of best neighborhoods for college grads. This apartment in the neighborhood is offered at $439,000, which is below the current median sales price of $498,000 for similar sized units in the area. Monthly maintenance is relatively low at $494 and amenities include a live-in super, shared laundry facilities, an elevator, a bike room, and storage. 

Title insurance is generally a requirement if you take out a mortgage on a property in New York City, although it won't apply to co-ops because of their unique shareholder structure. Think of it as paying for is the peace of mind: No one else can come in and lay claim to to your apartment.