What exactly is the 'AMI' that's used to determine affordable housing rents?

… New York Universitys Furman Center which researches housing policy  … A trade off … Using AMI as a baseline NYC and New … youre allowed to do Murphy said But from there its up to policy makers to decide how much we are willing to invest to …

By Celia Young |October 22, 2024 - 9:30AM
What’s the average flip tax for a condo or co-op in New York City?

… already familiar with the myriad fees that come with buying in New York City But theres one more cost you should … were converted to coops The fee was intended to discourage buyers from flipping apartments buying and then selling the … estate attorney Adam Stone partner and founder at The Stone Law Firm Editors note A previous version of this article was …

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

… majority of residential buildings in New York City own the land they sit on but a tiny percentage rent the land from … consider the potential risks outlined below  … Coop vs condo landlease buildings … There are about 100 landlease … out in 2109  As you get closer to the termination date the value of the property drastically decreases as does the …

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