Bricktionary

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?
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?
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?

… something called a working capital fund contribution for those purchasing a condo at a new development A working capital fund contribution is an additional fee paid by the buyer at closing thats meant to help a condo building … that developers negotiate … Will you find these fees for resales … You may encounter this fee for condo resales though …

By Celia Young |October 9, 2023 - 1:30PM
NYC apartment buildings
Negotiating + Financing
What is a cash-out refinance? Are these done in NYC?
By Emily Myers |September 18, 2023 - 3:00PM