Bricktionary

NYC apartment buildings
Negotiating + Financing
What are the differences between jumbo and conforming loans?
By Brick Underground |December 4, 2024 - 2:30PM
brightly colored apartment buildings surrounded by trees in Upper East Side, Manhattan
Affordable Housing
What is the ‘asset limit’ for NYC’s Housing Lottery applicants?
By Celia Young |December 3, 2024 - 10:00AM
Buildings in Dumbo, Brooklyn
Affordable Housing
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 over again area median income But what does that actually mean In short area median income or AMI defines the median incomes for households of different sizes within a certain geography The Department of …

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
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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
Quay Tower landlease condo
Negotiating + Financing
What are land-lease buildings? Are they common in NYC?

… to the specific terms of the lease says attorney Adam Stone of The Stone Law Firm which specializes in real estate … that Quay Tower was part of the original design of Brooklyn Bridge Park and the PILOT payments go toward the parks … 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
A man looks over several documents and looks concerned.
New Construction + Condos
What is a working capital fund contribution for condos? Are these common in NYC?
By Celia Young |October 9, 2023 - 1:30PM