Strictly speaking, we all know that Long Island City is part of Queens. But the real estate boom there is giving us reason to wonder if makes more sense to evaluate it as if it were a Manhattan neighborhood. And it’s not just the aesthetics. It’s the numbers, too. What’s Hot, What’s Sizzling On 3/17/17, … Continue reading Long Island City: More Manhattan Than Queens
As every real-estate buyer knows, shopping for any sort of home can be complex, and more so when looking for a co-op or a condo, where there are additional layers of ownership complexity beyond the simple buy-and-move-in that applies to houses. Exacerbating the situation, however, is the fact that price comparisons tell you almost nothing … Continue reading A Better Way to Compare Co-op and Condo Prices
My 2/12/17 blog post introduced the fictional apartment building 123 Anyplace Ave., and followed the money as the building transitioned from rental apartments to condo and co-op, and showed what residents pay — and why — with each form of ownership. A follow-up 2/18/17 blog post demonstrated why it can be worthwhile for people to … Continue reading Tax Breaks from Condo and Co-op Ownership
In my 2/12/17 blog post, I traced the flow of money into apartment buildings and how everything ultimately translates to the monthly expenses incurred by residents (rental tenants, condo owners and co-op shareholders). Interestingly, when we accounted for everything including taxes and mortgage payments if any, monthly differences look tiny. Variations were in how much … Continue reading The Great Home Equity Buildup
NYC Real Estate Values 