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Apartments -
NYC Real Estate News
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Tuesday, 30 November 1999 00:00 |
Welcome to the Real Estate Law weblog. Here you'll find items pertaining to real estate from a lawyer's perspective.
Excerpt from a blog on Jay Holander's Weblog
Michael Corkery of the Wall Street Journal Online reported that
"Vacancies dropped significantly and rents rose in the nation's top 70 markets, according to new quarterly statistics from REIS Inc., a New York-based real-estate research firm. " |
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Apartments -
NYC Real Estate News
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Tuesday, 30 November 1999 00:00 |
NYC real estate: This is a livejournal community for people seeking a place to live in NYC.
Excerpt from a blog posted on this site:
If you are apartment hunting, beware of this
The lease on my current apartment runs out at the end of November. I have been apartment hunting for a studio or a 1-bedroom since September to give myself plenty of time to find a decent place. Two weeks ago I saw an apartment in Kew Gardens, loved it, and decided I wanted to rent it. The couple living in the apartment were subletting it from their friend. I got in touch with the "friend" who said I could pay the 1-month rent and 1-month security and move in on Sunday, i.e. tomorrow. I packed up almost all of stuff and kept calling him for 12-days to confirm the deal, and to find out when I could give him the money and get the keys. He never called me back...
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Apartments -
NYC Real Estate News
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Tuesday, 30 November 1999 00:00 |
1. Owners actually own the property, not a lease to it.
2. It's investor friendly.
3. You don't have to deal with a pesky coop board and all its strict guidelines for buying and selling.
4. Many condos are also brand new and are very luxurious.
Many people think that condos are flat out a better investment, since they can rent out the property. This isn't necessarily the case if you plan on living in the apartment. Coop and condo prices generally move together. If condo prices go up 10%, generally speaking coop prices will also increase by 10%. Obviously, if the apartment costs 1 million dollars, you return on investment would be $100,000, but if the apartment was $200,000, the ROI would only be $20,000. The percentages still remain the same.
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Apartments -
NYC Real Estate News
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Tuesday, 30 November 1999 00:00 |
A RULING by a federal appeals court last month could increase income taxes for thousands of co-op owners, co-op lawyers and accountants say.
The ruling prevents co-op owners from deducting the portion of maintenance charges related to the co-op's property taxes when they calculate their alternative minimum tax.
While the decision puts co-op owners on an equal footing with owners of houses and condominiums for purposes of computing the minimum tax, co-op lawyers say that since many co-op owners took the deduction in previous years, they could be required to pay additional taxes - and interest - if those returns are audit.
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Apartments -
NYC Real Estate News
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Tuesday, 30 November 1999 00:00 |
A dirt pit marks the spot where New York's landmark towers were felled by hijackers on a suicide mission more than four years ago, a cavernous scar that has outlasted the patience of a city trying to move forward.
New York's business and political leaders are growing anxious that redevelopment is taking entirely too long at the World Trade Center site where nearly 3,000 people died on September 11, 2001.
"The site is an embarrassment, first and foremost, to all of us that felt confident it would move forward more quickly than it has," said Kathryn Wylde, head of the Partnership for New York City, an economic development group.
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