Many buyers are surprised by the sheer amount of paperwork involved in purchasing a co-op or condominium apartment in New York City.
As a real estate broker in Manhattan for over 20 years, I’ve personally completed and reviewed more than 1,000 condo and co-op purchase applications.
Having photographed some of these applications, I can visually demonstrate a striking difference between buying a co-op and a condo.
The New York Times has called NYC co-op board packages "infamous" and "dreaded," and for good reason.
NYC co-op board packages usually comprises hundreds of pages and preparing a NYC co-op application is oftentimes the most challenging and labor intensive part of purchasing a co-op apartment.
The Top 5 most important things to know before buying an apartment in New York City.
People who purchase property through a Limited Liability Company (LLC) often do so to maintain privacy and limit personal liability in the event of lawsuits, divorces, or other legal matters. Owning property under an LLC is a common strategy for celebrities, high-profile individuals, and anyone who values discretion, as the LLC, not the individual, is publicly listed as the owner.
However, there’s a simple yet common mistake that many people make when forming an LLC, which can inadvertently expose their identity to the public.
NYC real estate attorney Adam Turk shares some valuable insights about the most important things a non-U.S. citizen should know before buying an apartment in New York City.
Simple mistakes made when buying a property in NYC can potentially cost a foreign buyer thousands of dollars. With the right team helping you with your NYC property purchase, the process will be much easier and possibly save you a lot of problems.