Bricktionary

brightly colored apartment buildings surrounded by trees in Upper East Side, Manhattan

What is the ‘asset limit’ for NYC’s Housing Lottery applicants?

By Celia Young |December 3, 2024 - 10:00AM

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

… If youve ever entered New York Citys affordable housing lottery youve probably read one key term … incomes with data from the US Census Bureaus 2022 American Community Survey The department also adjusts its AMI for … said But from there its up to policy makers to decide how much we are willing to invest to get to lower AMIs An …

By Celia Young |October 22, 2024 - 9:30AM

construction workers standing on a street in New York

Affordable Housing

What is a 'major capital improvement' and how does it affect the rent?

By Celia Young |September 11, 2024 - 10:30AM

Getting Ready

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

By Brick Underground |May 16, 2024 - 2:30PM

New York, NY, USA - December 21, 2015 - Home alone above the former L’ Greta Spa in New York City.

Negotiating + Financing

What's a reverse mortgage—and how common are they in NYC?

By Celia Young |April 2, 2024 - 3:30PM

a row of new york city apartments with trees in front.

Sell

What’s the average flip tax for a condo or co-op in New York City?

By Celia Young |April 1, 2024 - 2:30PM

Close-up view of New York City style apartment buildings with emergency stairs along Mott Street in Chinatown neighborhood of Manhattan, New York, United States.

Troubleshooting

Understanding ‘succession rights,’ a complex issue for rent-regulated tenants

By Celia Young |January 9, 2024 - 11:00AM

Negotiating + Financing

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

… The vast majority of residential buildings in New York City own the land they sit on but a tiny percentage rent the land from someone else These are called landlease … a handful of landlease condos Thats because of the different ownership structures In a coop you only own a …