The PropertyClub Blog

Your guide to the NYC real estate market

Thinking About Living abroad in 2019? Here are the Top 35 Cities You Should Consider

Have you been thinking about embracing a more nomadic life this year? Or simply taking a break from the status quo and exploring some great new cities? We've done some of the scouting for you and have come up with a great list of cities that you'd certainly enjoy calling home, even if it's only temporarily.

The NYC Housing Lottery

“You’ve got to be in it to win it” is one of the New York State lottery’s more memorable advertising slogans. What this tagline doesn’t mention, of course, is you’ve got about a one in a zillion to one shot of winning. The odds aren’t quite as bad with the NYC Housing Lottery, however. Your chances of snagging a below market rate apartment are much better – not great, mind you – but at about 600 to 1, at least in the realm of possibility.

A Guide to Apartment Renovation in NYC

If you live in New York City, you know that few things are cheap or easy. An overriding characteristic of the city is that even mundane tasks can be difficult, and everyday things expensive. When it comes to remodeling and renovation work in New York City – neither of which is routine – it’s a complicated and time-consuming undertaking made more so when it’s being done in Manhattan.

How to break your NYC apartment lease

Whether you’ve outgrown your space and want to find a new place, lost your job and can no longer afford the rent, or are moving to another city for work, breaking your lease can be a serious headache in NYC. We'll walk you through all the available options from breaking or assigning your lease to subletting your apartment for the remainder of your lease.

Celebrity Real Estate Showdown, A Roundup of the Outrageous Homes Celebrities Bought in 2018

Where would the real estate world be without exuberant celebrity transactions making the news almost every week? Whether its movie stars, musicians or businesspeople, all seem to have one thing in common: they all love elegant living. Although, there are also some who are in it for the business aspect as well—like Maroon 5’s Adam Levine, who juggled more than $100 million in 2018.

Real Estate Tokenization

When it comes to possible applications for blockchain and cryptocurrencies in the real estate industry the most exciting would be the tokenizing of real estate. We’re taking an in-depth look at how to tokenize a property as well as the legal, regulatory, and technical challenges involved.

What is a Co-op in NYC? Everything you need to know about buying a NYC Co-op apartment

Approximately 75% of apartments available for sale in New York City are in cooperative buildings, colloquially known as “Co-ops”. So what exactly is a co-op and how is it different from a condo? And what do you need to know before purchasing a co-op? Read on to find out.

The NYS and NYC Transfer Tax

Buyers and sellers of townhouses, co-ops or condos in New York City have the unenviable obligation of paying multiple transfer taxes. First, the state picks your pocket with the NYS Transfer Tax, then the city takes its pound of flesh with the NYC Transfer Tax, and finally, there’s the so-called Mansion Tax, which is also technically a transfer tax. The Mansion Tax, strangely enough, applies to units that can measure 500 square feet or less. Only the little people in Gulliver’s Travels would consider that a “mansion”.

An Overview of a 1031 Exchange

If you've ever thought about investing in real estate you've probably heard the term 1031 exchange thrown around by realtors and other investors. You may be thinking "What is a 1031 Exchange?" or "How does it work?". Simply put a 1031, or "like-kind" exchange is an effective way to defer income taxes on real estate investments and has, therefore, become an essential tool for real estate investors.

Rental Properties Listed at Insane Prices in the Most Prominent Cities Around the World

Ultra-luxury dwellings have always been popular and managed to catch people’s attention ever since our prehistoric ancestors moved out from their caves. Unfortunately, not everyone can afford to own or rent an extravagant home, but we sure love to look at them! So what better place to look at upscale homes than in some of the most affluent cities in the world? From Paris to London to New York City and beyond, we looked at the most expensive and luxurious rentals currently listed to see how high prices can go... and we found that they can get really, really high.

Closing Costs in NYC

Whether you are buying or selling real estate, you must account for closing costs in your budget when determining your ability to purchase or sell a property. Like everything else in New York City, closing costs for buying and selling property are well above the national average.

Rent Regulated Apartments in NYC

Currently, over one million apartments in New York City are subject to some form of rent regulation. The majority of these apartments are classified as rent-stabilized apartments, while less than 2% of apartments are subject to the oldest form of rent regulation, known as rent-controlled apartments.

Looking Back at How Much Home You Could’ve Bought for $1M in NYC over the Past 14 Years

New York City has been long established as one of the most expensive cities across the globe, especially when it comes to home prices. Nowadays, everyone who is selling a piece of NYC real estate doesn’t think twice when putting an expensive price tag on it, knowing that people will without a doubt pay a hefty premium to live in the The Big Apple.

New York City Real Estate Taxes, Ever-Rising and More to Come

New Yorkers are among the most highly taxed people in America. Most already know that NYC is one of only a handful of cities to have an income tax, but what about real estate taxes in New York City? Well, if you’re a property owner in the city, your tax burden is even greater. And to make matters worse, real estate taxes are only going up and increasing in number.

NYC Apartments For Rent By Owner: How to Rent Out Your NYC FRBO Apartment

Listing and marketing an apartment for rent by owner in NYC can be a challenge. Whether it’s your first time renting your place out or you’re already an experienced landlord, we’ll explore some best practices and discuss why PropertyClub’s assisted FRBO (for rent by owner) marketing solution may be the right choice for you.

A Round-up of All Homes Bought Using Cryptocurrency

Ever wondered if it's possible to buy real estate with cryptocurrency? With blockchain and cryptocurrencies gaining more traction in recent years the real estate market has quickly opened up to the possibility of accepting crypto as payment. We're taking an in-depth look at the most popular digital currencies used to buy real estate and the dollar amounts of the purchases.

The Evolution of NYC Luxury Sales: $1M+ Home Sales in Each Borough, a 15 Year Analysis

With year-end reports, that look back at 2018 and compare it to the year that came before, starting to roll in we've decided to make things a little more interesting by taking a look at the evolution of the million dollar sales market across New York City over the past 15 years. We'll highlight how homes priced over $1 million have become the norm in Manhattan, and how this price segment is showing steady growth rates in Brooklyn and Queens.

How to find no fee apartments in NYC

Everyone knows that rents and moving costs in New York City are amongst the highest in the country so what better way to save some benjamins than to find a no fee apartment. We’ll explore how and where to search for NYC no fee apartments as well as when the best time of year to search is.

No Fee Rentals are Great, Earning a Cash Rebate When Renting is Even Better!

When it comes to renting an apartment in New York City, one of the first things most renters look at is the fees involved, with no-fee apartments being the most desirable. So what could be better than finding the NYC penthouse, Manhattan loft, or Brooklyn brownstone of your dreams while not having to worry about paying a broker fee? Getting a cash rebate as a reward for renting your next NYC apartment, of course.

7 Tips on How to Negotiate Your Monthly Rent

Have you ever asked about the possibility to lower the asking monthly rent on an apartment you’re interested in leasing? It’s only natural to ask, and it happens countless times each day; prospective renters tour an apartment, decide they like it, and begin to ask if the neighbors are loud, if there’s street noise, how much the utility bills average as well as the inevitable “Is the rent is negotiable?".

When’s the best time to start searching for your next rental apartment?

Are you counting the days and weeks until your current lease ends? Or maybe you’re in a month to month lease and are waiting to find the perfect apartment to call home. Here at PropertyClub, we know that timing’s everything, so we’ve come up with some useful tips and tricks on when to start your apartment search.

What is a Pied-à-terre?

Pied-à-terre is a French term that translates to “foot on the earth” and is used in the New York City and other real estate markets to refer to what is typically a second home or vacation home. The main distinction being that a pied-à-terre is not considered to be a primary residence, but rather a place where you nonetheless wish to establish and maintain a presence, roots or a “foothold”. When looked at it in this light a less literal translation of the French to “foot on the ground” makes far more sense.

NYC Apartment Application Checklist

Whether you've found your dream home and are ready to submit your rental application or you're just starting your apartment search and want to get a leg up on the competition by having your paperwork in order, our NYC Apartment Application Checklist has got you covered.

NYC Broker Commission Rebates

We're excited to announce that we've partnered with some of New York City's best real estate brokers to offer PropertyClub users buyer commission rebates. Buyers will now be able to earn up to a 2% cash-back rebate on property they purchase through our partner brokers.