The PropertyClub Blog

Your guide to the NYC real estate market

NYC Tenant Rights and the New Housing Stability and Tenant Protection Act of 2019

On June 14, 2019, Governor Cuomo signed into law the Housing Stability and Tenant Protection Act of 2019 (“Act”). This Act will fundamentally change the New York City real estate industry and is considered the most significant tenant protection legislation ever passed by New York State. This Act directly affects property owners, property managers, and tenants for both regulated and unregulated units, inside New York City and throughout the State of New York.

Flip Tax in NYC

NYC flip taxes, also known as transfer fees, were first implemented in the 1970s and 1980s as a way to generate capital for co-op buildings so that they could invest in major capital improvements without increasing maintenance fees for their shareholders (something no shareholder enjoys). Today, a the flip tax still generates substantial incomes for buildings, as well as discouraging buyers & investors from buying and selling co-op apartments with the intentions of making a quick profit, especially with HDFC apartments.

Manhattan vs Brooklyn - Which Should You Choose?

In recent years, Brooklyn has reportedly become the hottest place to be in New York City, and it has grown and flourished at a much faster pace than any other borough. Many would argue that the borough is now even hotter than Manhattan, and this comparison has served to narrow the differences between the two.

How to Sublease a NYC Apartment

Subleasing an apartment can seem daunting at times. Many NYC landlords make it difficult to sublet, but you almost always have the right to sublease. We'll explore some of the legal nuances of subletting and walk you through the process of how to sublease your apartment.

Luxury Report: The Most Expensive Homes for Sale in NYC Right Now

New York City is no stranger to jaw-dropping home sales. In fact, over the years, Manhattan has become synonymous with record-breaking property sales, of any kind. But it’s one thing to pay $80 million for a high-rise office building and another to pay that same amount on an apartment. However, some buyers are willing to pay the price, but they’re getting harder and harder to come by.

The Ultimate Guide to NYC Residential Starchitecture

The New York City skyline is the ultimate embodiment of ‘starchitecture,’ and for many industry professionals, designing a skyscraper in Manhattan is a significant and coveted milestone. Some of the world’s most influential architects have left their mark on NYC, by designing office towers, museums and event centers, fabulous hotels or supertall residential skyscrapers.

Buying Investment Property in NYC

Have you ever thought about purchasing an investment property in New York City? In this guide, we'll cover everything you need to know about buying an investment property in the greatest city in the world.

What is a CEMA loan?

As we all know, New York City has one of the heaviest tax burdens in the nation, in part thanks to the mortgage record tax. CEMA loans, which stands for Consolidation, Extension, and Modification Agreement, are a type of loan available only to New Yorkers that is typically used to reduce your tax burden when refinancing a mortgage.

The Top 20 NYC Residential Sales of Q1 - Priciest US Home Sale Ever Closes on Billionaires’ Row

For most of us, living in a penthouse in Manhattan overlooking Central Park is an impossible dream, something that happens only in movies and fairy tales, not in real life. But for some, it’s not an impossible dream at all, but quite an achievable milestone, or something to check off a bucket list. How else would New York City end up with something called ‘Billionaires’ Row,’ a cluster of supertall residential skyscrapers lining 57th Street next to Central Park?

When is the best time to look for or rent an apartment in NYC?

Find out when's the best time to look for an apartment for rent in NYC. We'll let you know when you can find the best lease deals as well as when the New York City rental market has the most active listings.

Rent Controlled and Rent Stabilized 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.

The Principal—Agent Problem in Real Estate

Have you ever wondered if your real estate agent is working in your best interest? Or are their actions motivated by their own best interest? The principal-agent problem is a common occurrence in real estate and can result in financial harm towards the principal (in real estate this could be the buyer, seller, renter or landlord).