Answer provided by Neil B. Garfinkel, REBNY Broker Counsel, Partner-in-charge of real estate and banking practices at Abrams Garfinkel Margolis Bergson, LLP Answer: If a co-op building has a Ground Lease (also known as a Land Lease), it means that the co-op corporation does not own the land under the building. Rather, the co-op corporation leases […]
Answer provided by Neil B. Garfinkel REBNY Broker Counsel, Partner-in-charge of real estate and banking practices at Abrams Garfinkel Margolis Bergson, LLP Question: After Submitting a Board Package, is it Legal for a Coop to request that Additional Maintenance be Held in Escrow? Answer: Yes, a cooperative corporation (“co-op”) may request extra maintenance […]
Hi all👋, thanks for visiting our website! In this month’s edition of Homebuyer Connect, we wanted to give you some information that you might find helpful. First, we cover a step by step guide on how to verify property taxes in NYC. If you’re buying a residential home or condo, then you will want to […]
As you can imagine, most of the houses here in Queens are very old, and some of them were built prior to 1938 when certificates of occupancy actually began being issued. In addition to that, it is very common to see 2 family homes converted from 1 family, 3 families converted from 2, etc. It’s […]
A question many homebuyers have when buying a home is who, exactly, is responsible for any repairs, maintenance, and associated costs. Certainly, buyers can request credits in regard to serious repairs, but other issues may come down to negotiations. It’s an important topic for both sides to think about, so here are a few things […]
Everything has its season, and for paint, winter is that time. Year after year, paint companies release their chosen Color(s) of the Year, which are meant to be reflections on trends that are coming to interior design near you. If you’ve been considering repainting a bedroom or your whole house, knowing what’s in can help […]
According to the Brookings Institute, about 42 million Americans (one in eight) have a student loan, totaling about $1.5 trillion in student loan debt. Only 30 percent of Bachelor’s degree recipients graduating in 2011-2012 managed to escape without a student loan; another 30 percent accumulated $30,000 or more in student debt. All this adds up to […]
In uncertain times, it can be easy to sit back and worry your time away hoping things will work out eventually. Although worrying will absolutely give you something to do, it won’t get you anywhere. So if you’ve been wanting to buy a home or refinance this year, don’t discount the possibility just because your […]
There’s nothing like a glass of cool lemonade on a hot summer day, unless of course the reason it’s so hot is that your air conditioner needs to be replaced. In that case, a new air conditioning system is pretty much the best thing ever. Maybe yours has lived a long and full life and […]
With social distancing being an important part of life at the moment and so many parts of the economy suffering the effects of state lockdowns, some are worried about how all of this will affect the Queens housing market. This is especially a concern for those who were hoping to buy a new property and […]
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