New York City is known for its high taxes, and the government isn’t the only one looking to collect. Some owners of NYC condos and co-ops are also subject to what is known as a flip tax if they wish to sell their homes. This tax is not paid to the city but to the … Read more

The Automated City Register Information System, aka ACRIS, is a public database that features all the public property records in New York City. The database is available to the general public and allows users to find key information on properties in Manhattan, Queens, Brooklyn, and the Bronx by doing a quick search. But the database … Read more

The exact commission realtors charge depends on the agent and the deal you negotiate. But the typical realtor commission is 5-6% of the sales price. This is split between the buyer’s agent and the listing agents – so each will pocket somewhere around 3%. Here is a closer look at how much the average realtor … Read more

Landlords can charge whatever they like to rent a unit in a building they own (except for rent-regulated apartments). However, tenants also have the right to negotiate.  With so much competition from other potential renters, negotiating with an NYC landlord can often be challenging. But if you’ve built a solid relationship or have some additional … Read more

Manhattan was the most sought-after borough in New York for many years, commanding the highest rents and featuring the most comprehensive array of shopping, dining, and entertainment opportunities. But over the last 20 years, Brooklyn has slowly become a close contender, rebranding itself as a cheaper and hipper alternative.  This has created a heated debate … Read more

When you apply for an apartment, the landlord will ask you for various financial documents along with your application. One of the most important is the proof of income letter. This document helps landlords know whether or not you were truthful on your application. Here is a closer look at the proof of income letter … Read more

When purchasing an apartment in New York City, you have to decide between buying a condo or a co-op. Co-ops are typically cheaper but also come with additional restrictions that buyers must consider. Here is a helpful guide to buying a co-op in NYC. What is a Co-Op in New York City? A housing cooperative, … Read more

When you apply for an apartment, the landlord will need to verify your income to ensure that you can afford the monthly rent. They will usually ask you how much you make on your application, but they will also need proof in the form of financial documents to verify that your claims are accurate. There … Read more

Signing a lease comes with the obligation of paying your rent on time and abiding by any other stipulations in the contract. But life happens, and occasionally, a tenant may need to get out of a lease early due to unforeseen circumstances. Breaking the lease is often your best option.  Breaking a lease without an … Read more

Landlords own the property that tenants occupy, and therefore they have control over much of what goes on in that building. However, as a tenant, you have certain rights that a landlord must respect, and failure to do so constitutes a breach of their legal responsibilities. Here is a look at some of the acts … Read more