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Condo Tax Abatements Offset Pain of Rising Mortgage Rates
With mortgage rates rising alongside inflation, tax abatements are an incentive for New York City condo buyers. An active 421-a tax abatement is a great selling point right now for the new developments that have one...
When Condos Go Rental
Developers sometimes decide to rent units in a condo building instead of selling them, usually due to adverse market conditions. The developer may be waiting out a period of low demand during a downturn, anticipating...
How much is a down payment for a condo in NYC?
The standard down payment for a condo in NYC is 20%. That said, some condos will accept less, and not every condo has a minimum down payment requirement. Some new developments in the city will accept payments of 10% or...
