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July 2013 Archives

New York City's Steinway Hall sold to development group

When you hear about a major real estate transaction, you probably don't put much thought into what went on behind the scenes to make the deal happen -- and that's okay, because the details of such a real estate purchase are not exactly interesting. But they are important for those looking to sell or purchase real estate, even if they lack excitement.

Debate over 'roommate law' a reminder of zoning and housing laws

Far to the north of New York City lies Watertown, a quaint city near the Canadian border. As you can imagine, Watertown's real estate situation is predominantly residential. The town wants to protect its residential neighborhoods and ensure that the residents of their city are keeping in line with the city's housing codes.

Subletting rules at co-ops vary depending on tenant

As we mentioned in our last post, the major difference between a co-op and a condominium is the lack of property ownership for the buyer. With a co-op, the buyer gets stock in the company that owns the co-op, while also being allowed to lease housing there; meanwhile, someone who purchases a condo actually owns that particular piece of property. This gives the condo owner some freedom if they wanted to lease out their space to someone else.

Much to decide for co-op boards in New York City

Many New York City residents know the difference between a cooperative and a condominium; but most may not realize all of the work that goes on behind the scenes of these types of housing units -- especially co-ops -- that allows the buildings to properly function.

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