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 over and … or AMI defines the median incomes for households of different sizes within a certain geography The Department of … which critics say artificially inflates AMI and as a result rentstabilized rents The AMI for a single person in NYC is …

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?

… mortgage is what it sounds like a home loan where the bank pays you based on your homes value rather than the … of lending for CrossCountry Mortgage They are gaining popularity Shultz says Its all about educating homeowners … does a reverse mortgage work … In a reverse mortgage a bank gets more equity in your apartment in exchange for paying …