Like many other American cities, New York City is currently mired in an affordable housing crisis. And the situation seemingly grows more dire by the day. As Gothamist reported earlier this year, weakened rent laws and economic pressure…
Taxes from the sales of multimillion-dollar homes are going up, thanks to the folks up in Albany. As part of New York State’s 2020 budget, a change has been enacted to New York State’s ‘mansion tax.” Originally enacted in 1989 by the…
Long Island City became the talk of the town late last year after it was marked as one of two likely locations for a new Amazon headquarters. After much uproar from residents worried that such a massive project would rapidly gentrify th…
Although co-ops make up roughly 80 percent of the available-for-purchase housing stock in New York City, buyers often face this common dilemma when apartment: hunting: should they seek a co-op, or a condo? Many factors come into play in t…
New York City's new congestion pricing plan could be a financial boon to residential real estate, even if it poses an inconvenience to drivers who regularly commute into Manhattan. In a recent interview with The Wall Street Journ…
Two major residential projects are garnering attention in a New York City neighborhood mainly known for stocks, bonds and derivatives. The area in question is the Financial District, where a couple of noteworthy office-to-condo conversion…
Owners of newer New York City condominiums are facing higher property taxes, as once-beneficial tax abatements are starting to expire. According to a study by StreetEasy , the imminent end of the tax abatements means that not on…
As community members, co-op and condo owners work together to maintain the greater structure in which they live – not just their individual units. Major systems – things like boilers, roofs, and facades – are expensive to maintain and repai…
‘Jumbo loans.’ It’s a term we hear frequently and see advertised regularly. But what exactly is a jumbo loan, and how did ‘jumbos’ come to be? Origins The world of home loans -- including co-op and condo mortgages -- has changed and evo…
In the last couple of months, The Cooperator has been covering the recent issues surrounding Housing Development Fund Corporation (HDFC) cooperatives. Among those areas of concern include co-op buildings that were threatened with forecl…