In the wake of COVID-19, a pocket of NYC real estate has heated up: new condos with private outdoor space. According to Marketproof Pro research, buyers are paying a premium to get outdoor space. For example...
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Big Discounts Fuel Sales for Ultra-Luxury NYC Condos
When the team behind 111 Leroy, a 10-floor, 13-unit condo in the West Village, wrote up the building’s offering plan, they planned to sell Unit 5 for $9.75m. The four-bed, five-bath unit counts 3,370 square feet...
Building profiles: 8 top-selling Manhattan condos of 2021
A wave of condo sales is driving the NYC new development market to years-long highs as a post-COVID boom materializes. Manhattan condos have been reaping the benefits of that surge in recent weeks, reporting the most...
What does a condo board do?
A condo board is a group of residents who enforce the rules of the condo and oversee its maintenance and finances. Residents elect their neighbors to the board. Board members typically volunteer their time...
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...
Building profiles: 5 Brooklyn condos likely selling soon
The Brooklyn condo market is soaring to record highs as NYC real estate recovers from COVID. What’s more, the borough boasts a deep bench, with successful buildings in a diverse array of neighborhoods at a wide...
Building profiles: 8 top-selling Brooklyn condos of 2021
Brooklyn condos have been riding this spring’s NYC real estate market recovery to record highs. The borough’s sponsors reported 188 contracts last month, far exceeding the past three years’ record of...
Purchase CEMA: what you need to know
In New York, a CEMA (Consolidation, Extension, and Modification Agreement) is an agreement where a buyer and seller agree to cooperate to save on state taxes. Here’s how a CEMA works: The buyer assumes...
Building profiles: 6 Manhattan condos likely selling soon
The relatively pricey Manhattan condo market was up against tough conditions last year. COVID conspired with the 2019 progressive mansion tax to shift buyer attention toward the less expensive boroughs, and Brooklyn...
Legal challenges could upend how real estate brokers share commissions
Legal challenges to co-broking likely headed to the Supreme Court were already threatening to upend the real estate brokerage business. But Compass took more direct aim at the local status quo when it filed an antitrust...
Compass’ lawsuit against REBNY
The real estate brokerage Compass filed a lawsuit against NYC trade organization REBNY for its rules governing co-broking. Below is a copy of Compass’ legal complaint. Compass-REBNY-Lawsuit Link to download...
REBNY Universal Co-brokerage Agreement Rules and Regulations
The REBNY Listing Service Universal Co-brokerage Agreement Rules and Regulations state the rules for co-broking in New York City. Co-broking is when a home buyer and seller’s brokers coordinate a deal. REBNY...
