Typical Transaction Costs when Purchasing Real Estate in NYC

All buyers incur transaction costs on their NYC home purchases. This is an unfortunate reality of the NYC real estate market that you cannot avoid. Co-ops generally have lower purchase closing costs than condos or houses, but it is still difficult to avoid high closing costs on co-op purchases. Below is a brief description of […]

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The Proposed “Pied-a-Terre” Tax in NYC

It is no secret that New York City real estate has become an attractive vehicle for high net worth non-residents to invest their capital.  It is widely perceived as one of the safest and most stable investments available in the increasingly unstable global markets.  In fact, many new condo developments have been built and marketed […]

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Is The Real Estate Broker Commission Rebate Legal in New York?

A question I frequently get from clients:  Is the real estate broker commission rebate legal in New York City? Thus, the topic of my first blog post — is the commission rebate legal? The answer is, in New York, the rebate is most definitely legal.  Section 442 of New York’s Real Property Law was amended […]

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