Blocks & Lots

Author - Joe Zappa

What is a land lease in NYC?

A land lease is an agreement where the owners of a condo, co-op, or commercial building do not own the land their building sits on. Instead, they rent it from the landowner. There’s a number of reasons a developer...

What does a property manager do?

A property manager oversees a rental property for the home’s owner. Condos and co-ops employ property managers to make sure the building runs smoothly, manage tenants, and address their concerns. Property managers...

How supertall NYC condos are selling

Supertall NYC condos are symbols of the greatest luxury, sculpting Manhattan’s skyline and attracting the upper crust from both hemispheres. But beneath the sheen of a more than $3B building may lie water damage...

What is a condo reserve study?

A condo reserve study is a document that identifies the life span and cost of repair or replacement for the components that make up a condo. These components include the roof, plumbing, electric, windows, and common...

What is a portfolio loan?

A portfolio loan is when a lender keeps a loan on their books instead of selling it to a third party. For real estate, this means a lender keeps the mortgage instead of pawning it off on a federal insurer such as Fannie...