Archive for September, 2012
Weekly Roundup: Sales and prices rise in Manhattan, surfeit of celebs on the move, U.S. stats up and down, yet another historic low rateSeptember 28, 2012
When a Web site rejects you because it doesn’t recognize your password, that’s one thing.
When a book publisher snubs your manuscript, that’s pretty bad.
And when a lover dumps you, that’s much worse, almost as depressing as a lender’s disapproval or your mortgage application.
Arguably, however, little else compares with a co-op board’s rejection of an application to become a resident of the building, and rejection has been said to be happening with rising frequency.
Not only can such a rejection be demoralizing. It also can be a devastating setback that costs time, energy and money.
For the buyer, (more…)
That’s why sellers need to scrutinize the details of any offer that they may be tempted to accept if it is devoid of contingencies.
What can happen? Answer: Plenty.
So sellers, their brokers and their attorneys should ascertain the following: (more…)
From virtually the moment you enter some apartments, the sense may emerge that something is very wrong.
Although a bad smell, a rundown appearance or a suffocating gloom can be the source of the sense, a bastardized layout also can account for a more subtle — if no less offputting — reaction
Such is the case for a co-op or condo that has been chopped from a larger one and, frequently, an apartment that has been combined from one or two adjacent units.
Two apartments in the low 100s suffer from such a disconcerting burden. (more…)
“Hey, Sophie, it’s Sunday. Let’s check out some open houses.”
A proposal to warm a listing broker’s heart, but that’s not where the dialog ends among members of a family:
“But what shall we do with Kimberly, Jessica and Adam? Mom and Dad have matinée tickets to see Newsies today.”
“Well, we’ll bring them along. And, wait, doesn’t puppy need her meds at 1 again. It would be bad to miss a dose, I think.”
“I’ll get her leash, and we’ll take care of that on the run.” (more…)
The New York City housing market is so unlike any other that first-time buyers are bound to be taken aback by the process. Even experienced ones often end up dealing with surprise.
At the top of list of surprises is the board application that buyers must complete to purchase a co-op and, frequently, a condo.
As I have previously written, that package is peerless for its depth, intrusiveness and length. (It is way longer than the forms I had to complete in my former careers to obtain top secret clearance.)
In a post on BrickUnderground, lawyer Karen S. Sonn details most of the surprises that face buyers, among them: (more…)
Call me a Luddite, but I think of a room with four walls when “dining room” shows up in a listing or on a floor plan.
With just two walls that mark the ends of an alcove, I’d call it a dining “space.” Technically, however, I’m wrong, according to the New York City Administrative Code.
The Code specifies that a dining space may be no bigger than 55 square feet; that limitation suggests that anything else may be called a dining room. (No dining “space” is permitted in an apartment with fewer than three rooms, the Code states.)
As is evident in the floorplan above, (more…)