What is a Proprietary Lease on 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 Reserve Fund in Managing a Co-op
Every co-op board in New York City has a duty to maintain and preserve the value of their cooperative. Part of the co-op boards process is the operating budget that…
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Buying a Co-op in New York City
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 got…
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What Are the Financial Requirements for a Co-op?
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 in NYC
Trying to sell an NYC co-op tends to come with a few unique pitfalls and unexpected moments of drama. The unique ownership structure of cooperatives, whereby each resident is a…
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How to Analyze a Co-op Financial Statement
When performing your due diligence before making a co-op purchase or when your building’s annual board meeting is approaching, you will receive the co-op’s financial statement. While you may be…
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Want to Ace Your Co-op Board Application in NYC?
Exactly To; after going through lord-knows how many open-houses you’ve finally found a co-op apartment that makes you happy. After a bit of negotiating, you’ve got an accepted offer and…
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When a Co-op Board Ask for Guarantor
A co-op board does not have to reject your application outright. If any concern about your financials (e.g., short job history, insufficient earnings, etc.), the board may provide you a…
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Condo vs. Co-op: Get the Facts in NYC
New Yorkers have a relatively firm understanding of the real estate market and its nuances. Particularly true in regards to the trade-offs between condo vs. co-op. However, if you’re thinking…
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Co-op Board Requirements When Buying in NYC
New York City’s co-op boards are notoriously fickle. They can reject you for virtually any reason, providing it does not break any laws. Notably, the board cannot deny your application…
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