January 10, 2020

New development is a category all its own in NYC real estate and includes both ground-up new construction and pre-war conversions (essentially new construction inside of a pre-war building shell).  Everyone knows there is a cachet (and price premium) to buying brand new.  What are the pros and cons of buying in a new development?

Pros of New Development

1. Floor Plans Designed for Modern Living: Naturally, new developments...

August 30, 2018

Today there is a wealth of real estate information online and many intelligent and capable New Yorkers have begun to wonder why working with an agent is still beneficial. Given that real estate agents still thrive, there's got to be some reason they are useful to prospective buyers, right? An agent...

1) Saves you time. (And true as ever, time is money)

2) Makes you a more informed buyer which makes you competitive in a consta...

July 5, 2018

While coop apartments are not entirely unique to NYC, there is no other place where they make up a majority of the housing stock as they do here. The crux of the distinction is that a coop apartment itself is actually not real estate, rather the apartment's owner is a shareholder in the corporation which owns the building and has a lease to reside in the specific apartment. 

So what does this mean? It means you still "own"...

July 4, 2018

With the holiday season upon us, we’ve all been thinking about our wishlists.  This time of year means putting together a list of things we’ve been pining after, whether we actually need them or not.  While most items on your wishlist fill a specific want or need, a home has to balance several (often competing or conflicting) wants and most of us can’t have everything we want, especially in a market like NYC.  Coming up with a...

July 3, 2018

Have you ever noticed that almost every condo lists the square footage but coops rarely do? Many potential buyers will want to know the square footage of an apartment, so why is it only sometimes included and is it really all that meaningful?

Square Footage in Condos vs. Co-ops:

Condos are required to include a description in their offering plan of the methodology used to calculate the square footage of all units. Legally, when...

July 1, 2018

Buying an apartment also means buying into a building, and oftentimes the building itself will affect your quality of life much more than the appearance and comfort of your home. What are some things to consider?

Monthly Costs
When shopping for an apartment, keep in mind that maintenance or common charges may affect your pocket book much more directly than price. Buyers tend to be very sensitive to price, but c...

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Compass is a licensed real estate broker and abides by Equal Housing Opportunity laws. All material presented herein is intended for informational purposes only. Information is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdraw without notice. No statement is made as to accuracy of any description. All measurements and square footages are approximate. Exact dimensions can be obtained by retaining the services of an architect or engineer. This is not intended to solicit property already listed.