What does 'right of first refusal' mean when you are selling a NYC condo?

… A New York City condo board has limited ways to exercise control over sales in the building unlike a coop board which has much broader authority over deals But … is called the right of first refusal This is an option to buy a condo from a seller at the same price as the sales …

By Brick Underground |May 16, 2024 - 2:30PM
What’s the average flip tax for a condo or co-op in New York City?

… the dreaded assessment to shore up reserve funds says real estate attorney Adam Stone partner and founder at The Stone … fee … Flip taxes and transfer fees are very common in NYC says Richard Apell controller at property manager Argo …

By Celia Young |April 1, 2024 - 2:30PM
What are land-lease buildings? Are they common in NYC?

… Stone has also taught real estate classes on the subject for years  These buildings are mostly in Manhattan namely on … coops and only a handful of landlease condos Thats because of the different ownership structures In a coop you … at Quay Tower runs out in 2109  As you get closer to the termination date the value of the property drastically …

By Evelyn Battaglia |December 4, 2023 - 12:30PM