What is the certificate of occupancy and why is it such a big deal?

… When youre buying in New York City one of the documents you will need to … C of O or just CO It identifies how a building can be usedfor example whether it is zoned for commercial or … the transaction said Nicholas Palance founder of brokerage Highland Advisory To avoid the hassles and expenses …

By Evelyn Battaglia |October 7, 2025 - 2:00PM
What is a CEMA loan, and how can it reduce my mortgage recording tax?

… extension and modification agreement or CEMA is a loan only available to New Yorkers The most common CEMA is … you avoid paying the entire mortgage recording tax on a home loan It involves assigning a mortgage from one lender … for reassigning the loan However if you switch banks your first lender has to approve assigning your mortgage to the …

By Evelyn Battaglia |March 25, 2025 - 9:30AM
What is a pied-à-terre? What makes it different from a typical NYC apartment?

… Piedàterre is the term used to describe an apartment that isnt an owners primary residence If the name … School of Public Service at NYU and a former New York City finance commissioner who has examined the citys data on … estate I am seeing a lot of piedàterre interest from West Coastersmostly from Silicon Valleyand also the Midwest said …

By Evelyn Battaglia |March 7, 2025 - 12:30PM
What is a mortgage recording tax? Are there ways to reduce it?

Buying a coop condo or house in New York City means you can expect to … be fooled by the name Youre required to pay this if youre buying a place at or above $1 million Then theres the …

By Brick Underground |February 18, 2025 - 12:30PM