What is the warranty of habitability and how does it affect tenants?

… Every apartment in New York is required to have a minimum of services … the building also need to be kept clean and sanitary If you live in a rent stabilized apartment there are also rules … find out about our next event subscribe to our newsletter  … Proving a breach of the warranty of habitability … …

By Emily Myers |May 22, 2023 - 12:30PM
What is an underlying mortgage when you're buying in a co-op building?

… asset to borrow against it Sykes says a good way to think about this is to imagine a Lego tower with each brick …

By Emily Myers |April 19, 2023 - 2:45PM
What is a co-op or condo assessment? How is it calculated?

… Coop and condo buildings often need to fund capital projects like repairs to the elevator roof or façade … square footage is identical assessments can vary between apartments A higher floor will usually have a higher common … the help of an architect or engineer and the input of the management company and super It will identify the age of the …

By Emily Myers |March 28, 2023 - 9:30AM
What is an escalation clause and what are the risks?

… to buy a new apartment or brownstone You may have heard about buyers using an escalation clauseor maybe you lost out … into play when the sellers agent tells the buyers agent about interest from several buyers The buyers agent could … you to close quickly in which case you should think twice about accepting an escalation clause and instead see what …

By Evelyn Battaglia |March 1, 2023 - 12:30PM
What is a limited equity housing cooperative and how affordable is it?

… the main difference is that limited equity coops have income restrictions for buyers and are therefore sold at belowmarket prices  Editors note A previous version of this … with new information for August 2022 … Keeping apartments affordable  … Unlike traditional coops theres a limit on the …

By Emily Myers |August 8, 2022 - 12:30PM