The FAR is the relationship between the total amount of usable floor area that a building has or has been permitted to have and the total area of the lot on which the building stands. How is FAR calculated? FAR is...
Category - New Development
marketproofCondo inventory loans: how condo developers refinance
What is a condo inventory loan? It’s when a developer of a condominium building adjusts its financing to meet the market. In most cases it allows developers to repay maturing construction loans and hold units for sale...
A condo offering plan: All you need to know
When a phonebook size offering plan for your new condo thumps down on the table in front of you, you might get an instant headache at the thought of actually having to read it. However, ignoring it could give you more...
Jeff VasishtaBuying a new condo: What to ask on the first tour?
A shiny new condo building in NYC has a lot of appeal. It’s a chance to separate yourself from the chaotic, congested streets outside. A cosy cocoon in a pristine, air conditioned building with the type of amenities you...
Square footage in NYC: Separating fact from fiction
In New York City where real estate can be exorbitant, square footage is as precious as fine jewelry. Postage size rooms can add hundreds of thousands, sometimes millions of dollars on to the price of property. It’s...
Block and lot: What is it and where do I find one in NYC?
A block and lot survey system is used in the USA and Canada to locate and identify land. It is usually used in areas of dense population, such as towns and cities. It’s also known as the recorded plat survey system or...
Certificate of Occupancy: Boring but oh so important
According to the NYC Buildings Department, a Certificate of Occupancy (CO), “states a building’s legal use and/or type of permitted occupancy. New buildings must have a CO, and existing buildings must have a current or...
Real Estate Transfer Taxes: A guide for New York City and New York State
Who pays transfer taxes? Transfer taxes can take a first time seller by surprise. Simply subtracting the sales price from the purchase price of a property will not amount to the size of the seller’s check at...
