Condos v. co-ops: These two types of homes may at first seem the same, but condos are easier to buy and sell. That’s one reason NYC developers have built 46,311 condo units in 2,097 buildings in the last ten...
Category - Co-ops
Co-op flip taxes: Everything you need to know
There are two things to know immediately about NYC Co-op Flip Taxes. They are not taxes and they do not apply to house flippers. Flip taxes are a fee charged to co-op owners who sell their co-op. In this way, they are...
Co-op underlying mortgage: what you should know before buying
An underlying mortgage is an original loan taken out by a co-op to finance the purchase of the land or building that it occupies. It’s called “underlying” because it comes before (or under) any personal loans that...
