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...
Latest Posts
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...
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 New Development data reveals precisely what HFZ lost to CIM Group...
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...
What does Fannie Mae eligible mean?
A home buyer is Fannie Mae eligible when the government-backed company will buy their mortgage from a lender. A lender — a bank like Chase or Wells Fargo — will provide the mortgage to the home buyer. Fannie Mae will...
Bulk condo buying strategies, explained
Bulk condo buying strategies evolve over the life cycle of a new development. As the developer sells more units, they face different incentives when it comes to negotiating with buyers. In this article, we outline the...
Does this Mega-Deal Signal the Comeback of Ultra-Luxury NYC Real Estate?
For one Upper East Side resident, a casual walk around the neighborhood led to among the year’s biggest real estate deals. The unnamed buyer took down the phone number of a developer of a property under...
What is a Building Identification Number?
A Building Identification Number (BIN) is a unique identifier for each NYC building. The Department of City Planning assigns Building Identification Numbers, though the Department of Buildings may do so as well. The DOB...
Search NYC condos for sale
Sites abound that claim to optimize your search for NYC condos for sale. Identifying the platform with the best resources and user experience can be challenging. We recommend Marketproof, the gold standard in this arena...
What is a recorded sale?
A recorded sale happens when the city recognizes a transfer of ownership and adds it to the public record. This comes after the closing date, when ownership actually passes from seller to buyer and the buyer gets their...
