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Note: This article is written in three installments There are many considerations a Tenant must take into account before deciding to lease commercial space. But even before finding the right space, in the right neighborhood at the right rent, the Tenant must be prepared to provide certain financial and personal information to the Landlord. I.

We have all heard the term “Certificate of Occupancy” when involved with a real estate transaction but many of us do not the full ramifications of what it is and what the New York City Building Department (DOB) requires. Don’t underestimate the importance of the Certificate of Occupancy. Whether you’re buying, renovating, or in a

Every cooperative and condominium apartment purchase generally requires some sort of board application. Some applications can be very lengthy (particularly co-op applications) while others can be quite simple. Recently, condo applications have become very cumbersome particularly for luxury buildings. Co-op’s have always had some control as to who buys in the building by requiring a

Purchasing a new home can be a very costly venture for a purchaser. The costs involve more than just the price of the property. Purchasers will face a string of settlement costs especially when a loan is involved. These loan costs include everything from loan origination fees to appraisal charges to credit report costs to

This is part 2 of a 2 section article about conducting due diligence on real estate transactions and should be read in conjunction with the sister article. Financing The Purchase While Condominiums generally do not set limitations on how much a purchaser may borrow, co-ops generally do. The purchaser must first determine if the co-op

This is part 1 of a 2 section article about conducting due diligence on real estate transactions and should be read in conjunction with the sister article. One of the most important, if not the most important, parts of any real estate transaction is conducting a through due diligence review of the property to be

As most of know, Airbnb is a peer-to-peer online marketplace and network enabling people to list and rent short-term lodging in residential properties, with the cost of such accommodation set by the property owner. Airbnb was founded in August of 2008 and is based in San Francisco, California, It has become a trusted community marketplace

A “lot line window” is a window that is built on a side of a building that shares a boundary line with a neighboring property.  If the adjacent building is built up to or higher than this window, then the lot line window will likely need to be sealed off. For example, Unit 8A has a living

In a prior article, we examined the preliminary considerations for a Tenant in leasing retail or commercial space. Once the Tenant has a space picked out, it is time to understand the lease terms and negotiate the lease. The terms of the Lease will be summarized in a document called a “Letter of Intent.” This

Sometimes the most negotiated point in a contract of sale for the purchase of real property (including the purchase of a co-op) is the closing date. There are many variables that affect the closing date some of which are in the control of the seller and purchaser and some of which are not. The Closing