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

… is called the right of first refusal This is an option to buy a condo from a seller at the same price as the sales … short sales or a foreclosure by allowing the condo board to buy at the lower price and resell it at a fair market value … His point is that if a condo is not prepared to step in and buy the apartment they can do little else than issue the …

By Brick Underground |May 16, 2024 - 2:30PM
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 … Instead of paying property taxes individual owners who live in these buildings are charged PILOT Payment in Lieu of … leases  Quay agrees saying he works with buyers as they see how the deal is set up through the offering plan and the …

By Evelyn Battaglia |December 4, 2023 - 12:30PM