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

… want our apartment to be kept in good condition tenants of rent controlled or rent stabilized units in New York City might not feel so … think youre being overcharged you can file a complaint … Changes in the pipeline … Efforts to tighten the definition …

By Celia Young |September 11, 2024 - 10:30AM
What’s the average flip tax for a condo or co-op in New York City?

… youre probably already familiar with the myriad fees that come with buying in New York City But theres one more cost you should watch out for when you sell a flip tax if you live in a coop or a transfer fee if you live in a condo which usually …

By Celia Young |April 1, 2024 - 2:30PM
Understanding ‘succession rights,’ a complex issue for rent-regulated tenants

… family member living in that most coveted of New York City apartments the rentregulated unit When they vacate the apartmentwhether they pass away move into assisted living or … else in New York inheriting a rentstabilized or controlled apartment isnt straightforward Succession rightswhich …

By Celia Young |January 9, 2024 - 11:00AM
What are land-lease buildings? Are they common in NYC?

… Stone has also taught real estate classes on the subject for years  These buildings are mostly in Manhattan namely on the Upper West and East sides as well as in Battery Park Brooklyn has a smattering too The reason behind this rarity … from the property without having to take a tax hit from the sale of the property Sanders says Due to the unusual nature …

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