To add to what has been said before, you should also read this article from the NY Times: http://www.nytimes.com/1996/02/11/realestate/your-home-deduc
Do not hesitate to email me if you want to discuss more about what you are looking for and if you want to receive some listings.
Nicolas Puygrenier Ç€ Licensed Real Estate Broker
Mona Lisa Real Estate Group LLC
419 Lafayette Street, New York, NY 10003
Telephone: 917 499 1917
There is a big difference in closing costs between a co-op and condo. A co-op is not considered real property ( you receive shares in a corporation not a deed) so that you do not pay mortgage tax (at least 1.8% of the mortgage amount).
Hope that helps,
Bond New York
Licensed Associate Broker
Accredited Buyer Representative
William Raveis Legends Realty Group
For a condo, owners pay monthly common charges that cover operating expenses and maintenance and real estate tax.
Here is an interesting article about coop and condo monthly charges form New York Times
Along with your monthly mortgage payments, in a condo you will have common charges (your portion of the costs to maintain the building, staff etc) and real estate taxes and in a co-op you have maintenance (which includes the cost to maintain the building, staff, real estates taxes and the underlying mortgage on the building). Each of these are monthly charges in addition to things like utilities and homeowners insurance.
Halstead Property, LLC