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 … in and were able to turn a $75000 profit reselling the place he says   Goldschmidt points out that the right of first refusal should eliminate the need for condos to require the kind of board packages requested by …

By Brick Underground |May 16, 2024 - 2:30PM
What are land-lease buildings? Are they common in NYC?

… has also taught real estate classes on the subject for years  These buildings are mostly in Manhattan namely on the … lease anyone thinking of buying into a landlease building should consider the potential risks outlined below  … Coop … For example the land lease at Quay Tower runs out in 2109  As you get closer to the termination date the value of …

By Evelyn Battaglia |December 4, 2023 - 12:30PM
What is a working capital fund contribution for condos? Are these common in NYC?

… If youre looking to buy a condo in New York City youve probably experienced stickershock at the extra cash you have to spend on closing costs Those fees will … a working capital fund contribution for those purchasing a condo at a new development A working capital fund …

By Celia Young |October 9, 2023 - 1:30PM