What are land-lease buildings? Are they common in NYC?

… yet another quirk of NYC real estate that buyers need to be aware of  In a lot of ways a land lease is just like … Heights Instead of paying property taxes individual owners who live in these buildings are charged PILOT Payment in … to vacate and would no longer have any ownership of their apartments  According to Stone the landowner could extend …

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 … or reserve funds The concept is fairly similar to a coop flip tax or condo transfer fee fees that sellers pay which raises …

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