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

… buying in New York City one of the documents you will need to obtain is the certificate of occupancy which is sometimes … useand how many households are allowed at the address Whats more if youre a buyer seeking financing and the … often include a clause that allows you to get out of the purchase if the closing does not occur by a particular date …

By Evelyn Battaglia |October 7, 2025 - 2:00PM
What’s a condop? What do I need to know about buying there?

… for sponsor coops A condop is probably the most misunderstood type of NYC apartment and while brokers often describe … of coops while giving the sponsor the ability to own or rent the commercial spaces in the building with all the … to the commercial space So its important to find out how well the boards function by asking the managing agent …

By Evelyn Battaglia |May 6, 2025 - 10:30AM
What is a CEMA loan, and how can it reduce my mortgage recording tax?

… in April 2024 We are presenting it again with updated information for March 2025 For example if you have a principal … When they are available CEMA loans are most commonly used by owners who are refinancing Purchase CEMAs are rare but … consolidating two or more loans into one as part of a sale A seller who is still paying off the mortgage can …

By Evelyn Battaglia |March 25, 2025 - 9:30AM
What is a community land trust? How does it help low-income buyers?

… The key to understanding what a community land trust is right in the … of the property This protects the property from speculative buyers he explained The whole point is to ensure the … before you complete your purchase … Rallying for more tenantowned properties … There are 19 CLTs operating in NYC …

By Jennifer White Karp |February 25, 2025 - 2:00PM