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Home Buying in Midtown East : Real Estate Advice

  • All38
  • Local Info5
  • Home Buying14
  • Home Selling5
  • Market Conditions4

Activity 14
maclayrose0, Home Buyer in London, KY
Thu Feb 6, 2014
maclayrose0 answered:
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... more
0 votes 2 answers Share Flag
Michael DeFi…, Real Estate Pro in Miami Beach, FL
Tue Nov 26, 2013
Michael DeFilippi answered:
Krystyna Rac…, Real Estate Pro in New York, NY
Mon Oct 7, 2013
Krystyna Rachtan answered:
Il mio indirizzo email è: kr@ny-home.net
Prego email me direttamente e fatemi sapere cosa proprietà che si desidera acquistare.
Please email me directly at kr@ny-home.net or call me at (212) 991-8072

Krystyna Rachtan, Licensed Real Estate Broker
Phone (212) 991-8072
NEW YORK HOME REAL ESTATE SERVICES, INC.
295 Madison Avenue, New York, NY 10017
... more
0 votes 1 answer Share Flag
Mitchell Hall, Real Estate Pro in New York, NY
Sun Jul 21, 2013
Mitchell Hall answered:
Hi Adina,

The listing that your question refers to PHG at 310 East 46th Street is a condop.

http://www.corcoran.com/nyc/Listings/Display/2566106

A condop is a residential building or portion that includes cooperative and condominium ownership structure. The condominium has a residential cooperative unit separate from the commercial unit and or garage unit.

A Coop can have underlying mortgage a condo can not. A condop such as 310 East 46th offers the flexibility of a condo such as 90% financing allowed, No Board Interview and also allows sublets like a condo.

A condop can offer the best of both condos and coops. The rules and amenities of a condo, tax deduction, lower closing costs (no NY state mortgage recording tax) like a coop because a coop is not considered "real property" it is considered "personal property."

Best,

Mitchell Hall
Lic. Assoc. RE Broker
The Corcoran Group
917-312-0924
mhall@corcoran.com
... more
1 vote 4 answers Share Flag
Fern Hamberg…, Real Estate Pro in New York, NY
Sun May 5, 2013
Fern Hamberger answered:
The downside of a land lease is the lease of the building with the owner of the land.
If the lease is a long term lease then the only worries you have is the acceleration clause of the
Lease and that is usually reviewed and explained to you by your lawyer.
A land leased apartment sale price is much lower relative to the one that is not land leased.
Many time a land leased apartment will have a pretty high maintenance. So even after you pay off
Your mortgage, you will be helping the land lease holder pay off their landlord.
Best of luck.
Let me know if there are any other questions.
Fern Hamberger
VP. Asso broker
Fhamberger@corcoran.com
... more
0 votes 5 answers Share Flag
Anna M Brocco, Real Estate Pro in Williston Park, NY
Thu May 2, 2013
Anna M Brocco answered:
Keep in mind monthly fees include land lease payments in addition to the other expenses....
0 votes 3 answers Share Flag
Tony Lara,  in New York, NY
Wed Mar 27, 2013
Tony Lara answered:
The contact person is Meagn Kane at Trump Organization, office: 212-832-2000, F: 212-935-0141


Best of luck, if there's anything other question I can assist with feel free to contact me.


TONY LARA
Licensed Real Estate Salesperson
CHARLES RUTENBGERG REALTY
212-688-1000 EXT-435 (O)
... more
0 votes 2 answers Share Flag
Ross Ellis, Real Estate Pro in New York, NY
Thu Feb 21, 2013
Ross Ellis answered:
Dear Marsha,

The brokers who answered your question are absolutely correct. Since you also looked at another property on E 57th Street, I would recommend obtaining an experienced buyer's broker who knows the area.

Currently 225 E 57th is repairing the exterior of the building which is mandated by Local Law 11 and required every five years. That's why you're seeing scaffolding outside the building.

I live and have sold apartments on E 57th Street and would be happy to assist you if you don't have a buyer's broker. Do feel free to contact me if I can be of assistance.

Ross Ellis
Licensed Real Estate Salesperson
Member of Real Estate Board of New York
212.317.7828 direct
770 Lexington Avenue, 10th Floor
New York, NY 10065
rellis@halstead.com
... more
0 votes 3 answers Share Flag
Jeanette Wil…, Real Estate Pro in Bayside, NY
Fri Sep 21, 2012
Jeanette Wilson answered:
Hi..
Did you get to see the apartment? I hope by now you did, but if you still need help, please call me.
1 vote 3 answers Share Flag
Joseph Chapl…, Real Estate Pro in New York, NY
Thu Sep 13, 2012
Joseph Chaplin answered:
Hi Atul,

Personally I think we can do better as far as the monthly costs are concerned. Is this for a primary residence or investment? I work for the largest real estate company in NYC (Prudential Douglas Elliman) and would be glad to discuss options in that area.

Regards,

Joseph Chaplin | Certified Real Estate Advisor

Prudential Douglas Elliman
575 Madison Avenue | New York, NY 10022
914.224.5806 | joseph.chaplin@elliman.com
212.891.7178 |
... more
1 vote 5 answers Share Flag
Alen Moshkov…, Real Estate Pro in New York, NY
Wed Feb 10, 2010
Alen Moshkovich answered:
Hi Lauren,

Matthew Adams is the managing agent for this building.

Are you interested in the one listing which is currently being offered at this building?
0 votes 2 answers Share Flag
Manoj Tewari,  in 10022
Thu Jun 26, 2008
Manoj Tewari answered:
Hind side 20:20... one day you'll think I should have bought it THEN...the prices are low and the interest is AT a historic low. Buy it ......forget the tax break...
1 vote 2 answers Share Flag
Joseph Ferra…,  in New York County, NY
Mon Dec 10, 2007
Joseph Ferrara, Esq. answered:
On the face of it---yes, it does look high. But without knowing the cost of the co-op apartment (and other factors) it is hard to give you a complete answer. Is there a temporary assessment built in for a capital improvement? It requires investigation and a little time. Contact me at jf.sellsius@gmail.com if you need further help. I am a real estate attorney. ... more
2 votes 5 answers Share Flag
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