The changes to New York law enacted by the 2019 Tenant Protection Act have a lot of people wondering whether they can get broker fees charged to them returned. The first step you might take is to speak directly with...
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The 7 real estate broker licenses types in NYS and how to apply
When you look up a real estate broker’s license, next to their name you will see a “License Type” displayed. In New York State there are 7 different real estate broker license types. Below we have...
Housing Stability and Tenant Protection Act of 2019: Senate Bill S6458
Summary Enacts the “Housing Stability and Tenant Protection act of 2019”; extends and makes certain provisions of law permanent relating to rent control and rent stabilization (Part A); repeals provisions of...
Tenant Protection Act: DOS Guidance thru Jan 31 2020
On January 31, 2020, guidance for real estate professionals concerning how to understand the Tenant Protection Act was issued. It included 14 questions and answers. The Jan 31 questions and answers are provided below...
New York City Property Tax System Background
New York City Property Tax System History 1975 Court of Appeals Case: Hellerstein v. Town of Islip – SeminalcaseforrealpropertytaxreforminNYS In 1981, NY’s Real Property Tax Law was amended to create what is effectively...
NYC Advisory Commission on Property Tax Reform: Preliminary Report Jan 2020
The NYC Advisory Commission on Property tax Reform reached consensus on 10 initial recommendations: The Commission recommends moving coops, condominiums and rental buildings with up to 10 units into a new residential...
NYC Retail Registry Legislation
Legislation Text – Int 1472-2019 Int. No. 1472-B City Hall New York, NY 10007 File #: Int 1472-2019, Version: B By Council Members Rosenthal, The Speaker (Council Member Johnson), Levine, Ayala, Brannan, Rivera...
The costs that come with renting in NYC: all you need to know
Frank Sinatra sang about his “vagabond shoes” taking him to New York. These days if you want to rent an apartment in New York, chances are there won’t be anything vagabond about you — particularly where your bank...
Things to consider before buying a groundfloor apartment
If you live in an old NYC walk-up or a townhouse that is split into apartments you probably dread traipsing up flights of stairs at the end of the day. And if there are bags, packages or furniture involved, let alone...
Rejected offer: what to do next
Rejection in real estate, unlike many other professions, usually comes down to one thing, money. If your offer for a home was rejected the owner wanted a higher price. Of course, there are exceptions but money tends to...
At what point does a real estate broker earn their commission?
According to New York’s Department of State website if a broker procures an eligible buyer they are entitled to a commission: “Although a broker is generally entitled to a commission when he produces a buyer...
Homeowners insurance: what you need before closing on your condo or co-op
As Al Pacino famously said in The Godfather Pt 3, “Just when I think I’m out, they pull me back in!” Don’t worry, when you buy a home in NYC you won’t have to fret about swimming with the...
