The NYC real estate market currently boasts a high supply of new Manhattan and Brooklyn condos. Marketproof tracks condo buildings, including those under construction, currently selling, and those that have moved on to...
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What are condo covenants, conditions, and restrictions (CC&Rs)?
Condo covenants, conditions, and restrictions (CC&Rs) are rules that govern a condo community. All owners agree to abide by these rules when buying a condo unit. CC&Rs do not just set the rules for condo owner...
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...
Why NYC New Development Should Be More Transparent
In an unregulated market economy, suppliers sell goods and services at the highest price buyers are willing to pay. If supply increases faster than demand, prices will fall. If demand increases faster than supply...
NYC tax guide: What do RPTT and RETT mean
In the NYC tax system, RPTT means real property transfer tax, and RETT means real estate transfer tax. Most obviously, RPTT and RETT are important because they can considerably boost the cost of a transaction, for buyer...
Elad Group’s $87M Charlie West bulk condo deal by the numbers
The Elad Group is selling 70 condo units at its Charlie West tower for $87 million to Tishman Realty, The Real Deal reported. Elad has developed numerous residential projects in New York but is best known for its...
What does a property manager do?
Condos and co-ops employ property managers to make sure the building runs smoothly, manage tenants, and address their concerns. Property managers may also oversee commercial real estate. Sometimes property managers are...
Marketproof Announces Commercial and Residential Data Subscriptions
Marketproof, the leading platform for NYC real estate data, has launched Marketproof Data Subscriptions. Data plays an ever-increasing role in helping brokers, developers, contractors, lenders, and other professionals...
What HFZ Lost to CIM in Foreclosure of 4 NYC Condos
HFZ lost control of four conversion condominiums, ceding the buildings to mezzanine lender CIM Group, according to a report by The Real Deal. Marketproof Pro data reveals precisely what HFZ lost to CIM Group in the...
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...
