What is a Co-op Sponsor Unit, and Should I Buy One?
When looking through co-op listings in NYC, you may encounter the phrase “sponsor unit” repeatedly. These elusive homes are scarce and highly desired due to the many advantages of buying…
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What is a Co-op Reference Letter?
Anyone who has bought an NYC co-op apartment knows that the process is like a job application. It would be best to convince the building’s board that you are financially…
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What is HO-6 Insurance Coverage?
Insurance coverage can often be confusing, especially when it comes to condos and co-ops. While your HOA fees will cover the building’s master insurance policy, this typically only applies to…
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‘Classic Six’ A Spacious Prewar Apartment to Consider
Something is alluring about New York City’s prewar buildings. For some, it’s the detailed facades, the high ceilings, and plaster moldings. For others, the chance to own one of the…
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Should You Join Your NYC Co-op or Condo Board?
Most people who sit on co-op or condo boards in New York City tend to skew older age ranges. The main reason is that sitting on a board can feel…
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What is a Proprietary Lease for a Co-op in NYC?
The home buying process in NYC can be different from other cities. One difference, which trips up many new arrivals, is the ownership structure of cooperative buildings. Here, co-ops make…
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The Purpose of a Capital Reserve Fund in a Co-op
Every co-op board in New York City must maintain and preserve the value of their cooperative. Part of the co-op board’s process is the operating budget determining monthly maintenance charges…
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Buying a Co-op Apartment in NYC: The Complete Guide
Before you can start looking at buying a co-op, there are a few things you need to sort out. The first thing is your savings and finances. Unless you’ve substantial…
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Financial Requirements for a Co-op in NYC
Before you can start looking for your dream co-op apartment, there are a few things you need to sort out. The first thing is your savings and finances. Unless you’ve…
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How to Avoid Co-op Board Drama When Selling
Trying to sell an NYC co-op comes with a few unique pitfalls and unexpected moments of drama. The particular ownership structure of cooperatives, whereby each resident is a shareholder rather…
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