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You are here: Home / Archives for Buyers

Buyers

Why is Central Air SO Uncommon in New York City?

June 9, 2022 by Jonathan

Whether you’re searching for a rental apartment or looking to buy the perfect home in Manhattan, you may have noticed a surprising trend (especially if you’re not a native or long-time NYC resident). Most New York City apartments don’t have central air!

Why is it so hard to find an apartment in New York with central air conditioning?

The lack of central air in most buildings in New York City comes down to when they were built. The NYC Department of Buildings reports roughly 75% of the residential buildings throughout the five boroughs were built before 1960. Central air didn’t become standard until the late 60s/early 70s. 

So, that charming pre-war you’ve got your heart set on may not have central air conditioning. If you’re renting, is it your landlord’s duty to provide a cooling solution? What did New Yorkers do to cool off before central air? What can you do now to keep your new apartment as comfortable as possible?

Beat the Heat This Summer Without Central Air

Coping With Heat Waves in the City

Most of the apartment buildings in New York City were built before central air conditioning became a standard amenity. But central air has been popular in the rest of the country for years now…so why are most apartments still reliant on other AC solutions?

The short answer: time and money.

Retrofitting older buildings with central air is expensive and extremely labor-intensive. Walls or floors must be broken down, ductwork installed, walls or floors must be refinished and repainted, and the air conditioners must be wired in and installed on the exterior or roof of the building.

Adam Dahill, the owner of boutique design and development company Dahill & Bunce, shared the costs of installing air conditioning in a CNBC article:

“Dahill is currently restoring a 3,900-square-foot Brooklyn brownstone. The total renovation cost is around $900,000. Of that, the air conditioning, a ducted split system, costs $65,000.”

In the same article, CNBC reporter Sophie Bearman gives the Plaza Hotel as an example. The iconic hotel underwent a massive renovation from 2005-2007, with the total cost of remodeling the building sitting at $450 million.

The installation of central air at the Plaza in 2005-2007 dollars? $25 million.

And that expense and time are what it costs IF you are even allowed to install central air conditioning in the first place. New York City buildings are notorious for their strict landmark and historic building regulations, so you may not even have the option to put in central air.

If you are dead-set on your apartment having traditional ducted AC, you’re probably going to want to look at new construction – it’s the only type of building in Manhattan that is more likely to have ducted AC than not.

But if you’re wanting to enjoy a beautiful pre-war or even mid-century apartment, what should you do every summer when outdoor temperatures rise?

AC Solutions for NYC Apartments That Aren’t Central Air

Though NYC landlords are legally required to provide heat for their tenants in the colder months, there are no similar requirements for AC in the warmer months. If you own your apartment instead of renting, you’re on your own as well.

Thankfully there are a number of less expensive and less complex air conditioning options available for New Yorkers to use in their homes, whether they’re renting or buying. 

  1. Portable Unit
  2. Ductless Mini-Split
  3. Through-wall Unit
  4. Window Unit
portable air conditioner

1. All About Portable AC

Portable AC units are standalone air conditioners, usually on wheels. They are commonly about the height of a mini-fridge with a freezer on top, and can usually be found at any big box home improvement store.

Typically, portable ACs use a window venting kit to expel any exhaust. The window venting kit resembles the exhaust of a clothing dryer, with accordion tubing. There may also be a drainage hose to run outside.

Many of these types of air conditioners have water reservoirs that are intended to help dehumidify the room they’re in. You do have to empty them occasionally unless they are one of the rare models which come with a drainage hose.

Portable ACs can be relatively inexpensive (compared to renovating) and easy to set up, which are two big perks. A significant drawback is that they can really only cool one room at a time. If you’re in a studio apartment with at least one window for exhaust ventilation, that won’t matter as much! But if you’ve got multiple rooms to cool it might be too much.

Portable AC units are also quite loud – depending on the model, of course.

ductless mini split air conditioner exterior

2. Everything You Need to Know About Ductless Mini-Split AC Units

Ductless mini-split air conditioners have to be installed on or near exterior walls because there are indoor and outdoor components. The outdoor part houses a compressor or condenser, while the indoor part handles the air.

Between the two halves of the unit runs the conduit, which includes the power cable, refrigerant tubing, suction tubing, and a drain.

These air conditioners are usually wall-mounted, at or above head level.

Some models/systems can accommodate multiple indoor units attached to one outdoor unit. Each indoor unit has its own thermostat so those rooms can be cooled independently as needed. This and the lack of energy losses that come with ductwork makes these an extremely energy-efficient option.

Ductless mini-splits fall behind other options when it comes to the cost, unfortunately. The flexibility and energy efficiency come at a high price. If you’ve got the budget it may be worth the expense, but there are definitely more affordable options out there.

through wall air conditioners on the side of a brick building

3. Through-wall Units Explained

If you’ve ever stayed at a hotel or motel with an air conditioning unit below the window on an exterior wall, you’ll be familiar with through-wall AC units.

While some through-wall ACs resemble window units to the layman’s eye, there are a few key differences. 

Through-wall ACs only vent exhaust through the back of the unit, not the sides. They are usually permanent fixtures as well, not something you put away in the wintertime. They can be much quieter than window units, as the wall absorbs some of the noise the air conditioner makes. 

These are more expensive than window units, considering the additional construction costs. Cutting through a wall to put in an AC is labor-intensive, and if you’re working with a historic building, you may not be able to install one at all. Through-walls are still much more affordable than ductless mini-splits. 

window air conditioner

4. Window Unit Air Conditioners

If you’ve ever walked through the streets of NYC in the summertime you’ve likely spotted the favorite AC of many New Yorkers: the window unit. But why are they so popular?

Window units are seasonal appliances. You can easily install it when it gets warm in the spring and then take it down in the fall when the days begin to cool so your home isn’t drafty. And you get your view of the city back when you do so.

The modern window air conditioner is a powerful and energy-efficient workhorse. Most come with a frame that helps sit the unit squarely in your window. Add a support bracket on the exterior of your building to prevent any accidents, and you’re good to go.

They typically vent exhaust out of the sides and back of the unit, unlike the through-wall which only vents out the back. They can usually dehumidify your apartment while they cool it too, which is great for the muggy, humid summer months New York experiences.

Most window ACs manufactured today also operate on standard 120-volt outlets, which isn’t always the case for older models. Unfortunately, you’ll likely have to get one per room, and they are quite noisy.

Installing a Window AC to Code and Safety Regulations 

In New York City, you do not need a permit to install a window AC, but the city has installation guidelines on their 311 website. We recommend that you follow them, in order to ensure that your unit is installed securely and isn’t at risk of falling onto a pedestrian or car below. You could be held liable for damages or medical bills if that were to occur.

Before you get started on the installation, there are three things you should check out. Make sure there is a three-prong 120-volt outlet (a normal outlet) near the window. If you don’t have one near any of your windows and have to use an extension cord, purchase one that is rated for air conditioner use.

The next thing to be aware of is that your air conditioner cannot block an emergency exit window that accesses a fire escape. This is a violation of fire code and could result in you being fined, or worse. Make sure that the window you choose isn’t an exit.

The third action item is to install a bracket that can hold the weight of the air conditioner on the outside of your window. This is crucial to ensure the stability of your unit and prevent any falls from occurring. 

The Cooldown

While you can install central air conditioning if you have an excess of time and money, most New Yorkers opt to cool their apartments with less permanent solutions like window AC units. 

Whether you choose a portable AC, ductless mini-split AC, a through-wall unit, or a window unit, follow the installation guidelines issued by the manufacturer. Don’t forget to check for safety guidelines with NYC 311 as well.

And if you’re looking for an apartment with a particular cooling solution, feel free to reach out. Our team would love to help you find an apartment that helps you balance staying comfortable in the summertime with all of your other wishes and needs.

Filed Under: Blogs, Buyers, First Time Buyers

Washers and Dryers – Why Can’t New Yorkers Have Them?

June 9, 2022 by Jonathan

In-unit washers and dryers aren’t standard amenities in NYC apartments. While you can expect to find at least a stackable unit in most luxury-priced apartments, those in lower price points tend to rely on either building laundry rooms or external laundry services.

But why is that the status quo? Why do most New York apartments lack washers and dryers?

Many NYC buildings’ plumbing infrastructure is too old and can’t handle the additional capacity needed for each apartment to have in-unit washers and dryers. If the building happens to allow a renovation that allows for laundry facilities, it still may not be possible to add them because of wet over dry rules.

Many residential buildings in Manhattan were built in the late 1800s or early 1900s before it was common to have washing machines and clothes dryers in apartments. These buildings were meant to accommodate hand washing dishes, bathing, and not a whole lot else. But that’s not always the whole story – let’s take a closer look.

There’s Not Enough Room

A typical laundry room is realistically used infrequently, compared to other areas of an NYC apartment, so many apartment owners opt to use the space more efficiently. Why pay for space 100% of the time when you could use it for a larger closet, extra bathroom, etc?

While it’s possible to squeeze small stackable washers and dryers in most closets, the load size will likely end up so small that owners or tenants would rather take their laundry to a laundromat or pay a laundry service to take care of it all at once.

Wet Over Dry

The “Wet-Over-Dry” rule states that wet rooms, like bathrooms, kitchen, and laundry rooms, need to be placed directly above wet rooms in other units. This way, in the event of an overflow or water damage, the water will (theoretically) be contained to the wet rooms.

All co-op and condo buildings require owners to submit renovation plans before starting any work. This allows those managing the building to check for any potential issues. You can sometimes find whether or not your building allows wet-over-dry in your building’s information online, or you can always ask your building’s super.

It’s Too Expensive

Many owners or tenant/shareholders would like to add in-unit washers and dryers, but the cost is also somewhat prohibitive. Just imagine trying to renovate the plumbing (and electrical!) in a building in the middle of Manhattan, full of residents, without disturbing every single apartment…it’s just not possible.

It also certainly wouldn’t be cheap. Renovations in NYC have more red tape and regulations than most other places in the world, both of which add to the total bill. Just to add a washer or dryer, you have to file for permits with the Department of Buildings, not to mention clear things with your board.

Each washing machine must be connected to a water supply, a large capacity drainage system, and a dedicated electrical circuit. Additionally, each dryer needs to be vented directly to the exterior of the building and cleaned regularly to avoid fires.

The cost of adding all of the required infrastructure for washers and dryers to buildings not originally designed for them is not manageable for a lot of New Yorkers. 

There Are Existing Drainage Issues

If an apartment building, or even a specific unit within an apartment building, has existing drainage issues, it is unlikely the building will allow washers and dryers.

The sheer volume of water that washing machines use can make any existing pipe and drainage problems so much worse. To illustrate just how much water washers use, an average toilet uses between 1.5-3 gallons per flush, while washing machines can use up to 30 gallons per load.

If the existing pipes in the building aren’t rated for that level of flow, you’ll end up with problems both in fueling the washer with enough water to run and draining the water quickly enough after the load is finished washing.

There Are Better Laundering Solutions

Laundry is a fact of life – everyone has to do it (or have someone else do it). Many buildings that don’t allow washers and dryers in each apartment will have laundry facilities just for their residents. But that still means you have to lug your laundry down and sit with it until it’s finished.

If your building doesn’t have laundry facilities, you might find yourself making frequent trips to the laundromat. There are many available in all areas of the city, but again…you have to pack up your laundry, get it there, and sit with it until it’s clean.

That’s why so many people opt for wash and fold services instead. Some even offer pickup and delivery, and can even interface with your doorman (if your building has one). 

Interested in wash and fold laundry services? Here are the top 10 rated services on Yelp as of the time of writing!

Need help finding apartments with washers and dryers? Please reach out! The members of the Gasdaska Conlon Team would be thrilled to work with you.

Filed Under: Blogs, Buyers, First Time Buyers

How To Find Out Who Owns A Property In New York City

May 31, 2022 by Jonathan

Finding out who owns a property in New York City can be challenging. While it might be as straightforward as contacting your county tax official in other areas of the country, New York City residential real estate has cooperatives and other unique property types that make things a little more complicated.

It’s easier to find out who owns a co-op than most other types of NYC real estate since they are typically only allowed to be purchased by individuals. Condos, new developments, etc. are more likely to be owned by LLCs or larger institutions, so identifying the individuals responsible for a certain apartment is a bit harder.

In this article, we’ll take a look at how New York City property ownership has changed over time to include more LLCs, how new developments are unique, and the best ways to try to find out who owns a property in New York City. Let’s take a deeper look:

How NYC Property Ownership Has Changed Over Time

Why Do People Want To Know Who Owns A Property In New York City?

Why is this even a concern? Does it really matter who owns a New York City property once owners change hands? It depends on the person, but most buyers just want to be informed.

When you’re talking about likely some of the biggest financial transactions of New Yorker’s lives, people want to know who they are purchasing from – is it a fellow NYC resident that is just moving to another place in the city? Or is it an international corporation that bought the property as an investment?

LLCs Role in NYC Residential Real Estate

Over the past few decades, it has become increasingly hard to find out who owns a property in New York City due to shifts in how people take ownership of properties.

Eric French wrote an article diving deep into housing ownership change from 2002-2014. While he only looked at the East Village, he highlighted an interesting trend – more and more properties are being purchased by LLCs than ever before.

Anecdotally, this makes sense. While co-ops still make up the majority of NYC’s inventory, condos are becoming increasingly popular for a variety of reasons – one of which being the privacy that purchasing through an LLC allows.

People also purchase properties through LLCs if they have significant assets outside that holding, so if something goes wrong, the LLC would be held financially liable rather than the individual.

LLCs Don’t Mean Total Privacy

The lack of transparency about who makes up LLCs, and therefore anyone who owns a property in New York City, was addressed by the NY government in September 2019 with two new laws:  New York State Tax Law §1409 and New York Administrative Code §11-2105.

In short, these two laws work together to require the full name and address of every member of an LLC that acquires or sells residential real estate in NY.

But even with the new law in place, some requests for information filed by reporters have been denied. Syracuse.com was denied access to LLC records, which is just one example of how there is still quite a bit of mystery around members of LLCs. 

Long story short, if you’re thinking about purchasing a property from an LLC, know that you may only be able to find information about the LLC itself, not the individual(s) who are a part of it. That’s not necessarily a bad thing, but is something to note.

New Developments

If you’re purchasing a new development condo and it’s the first offering of the unit (also called a sponsor unit), you’re most likely purchasing the property from the developer or their financial institution.

Typically, new developments are financed by a developer through a construction loan from a bank, and it will be relatively easy to find who financed the construction.

For example, Central Park Tower was developed by Extell Development Company and financed by Shanghai Municipal Investment (SMI) – both facts easily found right on Central Park Tower’s official website.

Once the unit is no longer a first offering (or sponsor unit), it’s exactly like any other resale condo transaction – both the buyers and sellers are individuals, not banks or developers.

However, there is one loophole, even for condos. It is entirely possible for an LLC or other entity to purchase a sponsor unit in a condominium building from a developer. That means that even if it’s a resale property, it might be more difficult to determine the individual that owns the unit.

Methods To Find Out Who Owns A Property in New York City

Work With A Great Real Estate Agent or Broker

By far the easiest and most reliable way to find the most accurate information about who owns a property in New York City is to contact a great real estate agent or broker.

We have tools that aren’t publicly available to help you learn all you need to know before purchasing a property – not to mention the personal connections we’ve made throughout our career.

If you have a property in mind and need help to find out more, reach out! Our team is known for their superior market knowledge and unparalleled customer service. We will do our very best to find any and all of the information you’re looking for and guide you through the often confusing process of buying or selling property in New York City.

Don’t worry – if your heart is set on finding out who owns a property in New York City by yourself, below are some tools you can use:

ACRIS

The Automated City Register Information System, or ACRIS, gives you access to property records for Manhattan, Queens, Bronx, and Brooklyn from 1966 to the present. If you are searching for a property on Staten Island, you’ll have to visit the Richmond County Clerk’s Office website instead. 

To use the tool, you’ll need to know either the property’s address, the owner’s name, or the property’s tax designation. It also is helpful to know the type of property (i.e., multi-family dwelling, commercial, vacant, etc.)

There is no cost to use the online ACRIS search tool. If you need a physical copy of a property record, you can print the record for free from a personal printer, or you can request copies from the City Register Office. An uncertified copy costs $1/page, and a certified copy costs $4/page at the time of writing.

Beyond searching for property records and information, the ACRIS system can also help you compute property transfer taxes, and create helpful documents, like cover pages and tax forms. 

Property Shark

Property Shark is a popular tool used to find out information on buildings in New York City. It is a search tool that you can use to find out all kinds of information, including:

  • Property characteristics
  • Property value
  • Sales history
  • Owner’s name and contact information
  • History of foreclosure
  • Zoning information
  • Title documents
  • Liens

Certain information is available at no cost on Property Shark, but other information is locked unless you sign up for an account. There are several tiers of subscriptions available on the website, ranging in both additional features available and price, but you can expect to pay between $60 and $160.

(If you’re considering paying for a tool, just reach out…we CAN help and will likely be able to find more reliable information about who owns a property in New York City)

Property Shark is a great tool for investors and real estate brokers and agents. It provides the user with detailed and interactive maps of the area around a property, and also has several useful features for putting together targeted mailing lists for specific properties and areas.

NYCityMap

NYCityMap is another great tool for searching for who owns a property in New York City. By searching for a specific address, you can find information about the building, including:

  • The owner
  • When it was built
  • Zoning information
  • How many units it has (residential/commercial)
  • Total square footage

The information on the site should be taken with a grain of salt, though, as the databases aren’t always updated quickly when the information changes, and the search engine itself can prove to be a bit tricky. 

When you’re searching for a specific property, search only for the name and number of the property, as in “20 W 34 st”, and avoid searches like “20 west thirty-fourth street”.

If you can’t find the address this way, you can try searching for the 10-digital BBL (Borough, Block, Lot). You may be asked to confirm a few details about the property (i.e., neighborhood, county, etc.), and then the program should display the building’s information. 

RealtyHop

RealtyHop is a search platform that organizes New York City property records from multiple sources into one place. All you need to search for information on a property is the address, or the organization/owner’s name. 

This particular search platform provides the following information about properties in New York City:

  • Ownership information
  • Tax information
  • Transaction history
  • Detailed photos and descriptions
  • Map
  • Other building or individual unit statistics

This service is free to use, but to access all its features, you will need to create an account and log in to the website. RealtyHop can be very helpful if you’re looking to find out the investment potential of a property, or the price at which similar properties were listed for sale recently. 

New York State Division of Corporations, State Records, and UCC

Sometimes, when you’re using free-versions of search engines like PropertyShark, NYCityMap, or RealtyHop to try to find out who owns a property in New York City, you can only find the name of the corporation that owns the building.

By searching the corporation’s name on the New York State Division of Corporations, State Records, and UCC website, you can (sometimes) find the name of the person or people that owns the corporation. 

As with any free search tool, it’s best to double check any information you find with other sources. The delay in updating databases can sometimes provide you with information that is no longer accurate. 

Skip the Hassle – Find A Great Real Estate Agent or Broker

Like we said above, the easiest and most reliable way to find the most accurate information about who owns a property in New York City is to contact a great real estate agent or broker.

Why waste time searching by yourself to still have questions about the accuracy of the data at the end?

Our superior market knowledge and informative white-glove approach ensures that our clients experience nothing but the best – and we’d be happy to help you find any information you’re looking for about a NYC real estate property.

Ready to get started? Send us a message or give us a call. We can’t wait to hear from you!

Filed Under: Blogs, Buyers, Sellers

What Are Classic 6 7 & 8 Apartments? Or Junior One & Four?

March 24, 2022 by Jonathan

Manhattan apartment listings can be jam-packed with niche terms and phrases describing the building and floor-plans: pre-war, post-war, condo, co-op, classic 6 7 & 8 apartments, junior one & four etc. But what exactly do these terms mean?

The classic 6 apartment is a layout found in pre-war buildings. It consists of 6 main rooms: the living room, the kitchen, the formal dining room, 2 full-sized bedrooms, and a smaller bedroom (usually off of the kitchen) known as the maid’s quarters.

A junior one apartment is a studio with an additional area that can be separated from the rest of the main living space, commonly used as a bedroom. They are typically smaller than a one-bedroom apartment, and larger than a by-the-book studio apartment.

So, what are classic 7 & 8 apartments? What is a junior four? What other characteristics are common with these sought after apartments? Read on to find out more about them and see examples of each layout!

Classic 6, 7, and 8 Apartments: What’s The Difference?

Classic 6 apartment layout

Common Neighborhoods For Classic 6 Apartments

If you’re in the market for a classic 6 apartment, you’re going to want to start your search in the Upper East or Upper West Side. Most of the established pre-war co-op buildings in these neighborhoods will have apartments with this style of layout, which was popular at the time of construction. While it’s true that some new construction apartment buildings have modeled their layouts after the classic 6, the most authentic are in pre-war/historic buildings.

Classic 6s are desirable because of the layout AND the timeless finishes which you are more likely to find in a pre-war building. High ceilings, beautiful entrance galleries, hardwood floors, solid wood doors, intricate moldings on the lath and plaster walls, sensibly proportioned rooms, and if you’re lucky, even functional wood burning fireplaces or personal outdoor space. 

Pre-war apartments are typically some of the quietest apartments in New York City, as well. So if you’re looking for an oasis from the city’s constant thrum, a classic 6 may be the perfect choice for you. Read our post about the noise levels in pre-war apartments to find out why!

What About the Classic 7 and 8?

Just like the classic 6, classic 7s and 8s can be found in pre-war buildings primarily located on the Upper East and West Sides. Both the classic 7 and 8 consist of the same set of rooms as the classic 6: Kitchen, formal dining room, living room, two full bedrooms, and the maid’s quarters. 

The difference between classic 6 7 & 8 apartments lies in the number of bedrooms. The classic 7 takes those 6 rooms and adds one more full sized bedroom to the floor-plan. The classic 8 has those 7 rooms as well as one more small bedroom that would have been a second maid’s quarters at the time of construction. 

Cons to the Classic 6 7 & 8 Apartments

While pre-war classic 6, 7, and 8s are always in high demand, they are not without their faults. Many pre-war buildings don’t have centralized air conditioning, nor the plumbing infrastructure to accommodate in-unit laundry. Also, the modular style of the layout can sometimes limit the amount of natural light in the apartment.

That being said, it’s quite common for buyers of classic layout apartments to renovate and open up some of the closed off common spaces in the process. Especially the wall between shared rooms like the living and dining. It’s very easy to find examples of renovated classic 6s that retain the charm and character of the prewar apartment with the open concept living most contemporary Manhattanites prefer.

What Is The Typical Layout Of A Junior One Apartment?

Junior One Floor Plan Example

Junior one apartments come in all shapes and sizes. Depending on the age of the building, the area of the city you’re in, and other factors, junior one apartments can vary widely in terms of floor plans. 

Typically, the main room of the unit includes a kitchen, dining area, and living area, and the partitioned space serves as a private bedroom. In a junior one apartment, you will almost always only find one full bathroom. 

What Are The Pros And Cons Of Junior One Apartments?

Junior one apartments, generally speaking, have a higher market value than by-the-book studio apartments, but are more affordable than standard one-bedroom apartments. They also will generally have lower monthly maintenance fees than any property classified as a one-bedroom unit. 

Many people who live in junior one apartments opt to use the space as a traditional studio, while having a separate space dedicated for a home office. The addition of a separate, private space allows residents more flexibility than you’d find in a typical studio apartment. 

Overall, a junior one apartment is perfect for someone who wants the feel of a one-bedroom apartment for the price of a studio apartment. 

When it comes to selling a junior one apartment, it can be tricky to decide whether or not to list the property as a true junior one, or as a one-bedroom, depending on the size. In some cases, listing as a junior one can be beneficial, and in other times, it can hurt the sale. 

For that reason (and many others), it’s always best to work with an experienced and knowledgeable broker when you’re planning on buying or selling in New York City. Their expertise can ensure you get the best price possible for your property in the current market. 


What Is A Junior Four?

A junior one & junior four have a lot in common. A junior four apartment is essentially a one bedroom apartment with an additional area that can be separated from the main living space. They also typically have only one bathroom. In a junior four, you’ll find a kitchen, living and dining area, bedroom, and the additional fourth room. 

When you see a property listed as a junior four apartment, rather than a two bedroom apartment, that additional area likely does not meet the legal standards to be called a second bedroom. However, these spaces are often big enough to be used as a dining area or home office. 

What Is The Typical Layout Of A Junior Four Apartment?

Junior Four Floor Plan Example

Lots of factors can influence the layout of a junior four apartment, including the neighborhood the building is in and the year it was built.

Relatively often, you’ll see junior four apartments laid out in an “L” shape.

What Are The Pros And Cons Of Junior Four Apartments?

Opting to buy a junior four apartment, rather than a by-the-book one bedroom apartment, has several advantages. Beyond the increased functionality of that extra room, junior four apartments typically are priced lower than true two bedroom apartments, but have a higher resale value than typical one bedroom apartments.

When it comes to listing your junior four apartment, make sure you’re working with a great real estate agent. They’ll help you to highlight the great features of your space, and make sure you get the best price possible for your property in the current market. 


What Are Some Other Property Types Used In NYC Real Estate Terminology?

  • Brownstones: Townhouses or row houses that include an often ornate brownstone facade.
  • Condominiums: Commonly called condos,  these properties are single units within a large building. 
  • Cooperatives: Commonly called co-ops, these properties are single units within a larger building. Within a co-op, residents don’t actually own the unit. Instead, they technically own shares of a corporation that owns the building, which is recognized as a type of property ownership in New York City.
  • Duplexes: Apartments that have two floors connected by stairs or an elevator.
  • Floor Through Apartments: Units that occupy the space from the front of the building to the back of the building, and often the full floor. 
  • Garden Apartments: Apartments that have access to a private garden, generally on the ground level of a building. 
  • Land Lease Buildings: Apartment buildings that sit on land owned by an outside party. Most land lease buildings function as cooperatives, and each resident pays a monthly “land rent” as a part of their monthly fees. 
  • Lofts: Usually located in a building that was formerly industrial, lofts are large open spaces, often with architectural features like columns, beams, exposed brick, and more. 
  • Maisonettes: A ground floor apartment that has its own street entrance, sometimes with a garden.
  • Multi-Family Homes: In NYC, this usually refers to townhouses (or other smaller structures, usually 6 stories or less) that have been separated into multiple apartments. 
  • Penthouses: Apartments built on the top floor of a building. Use of architectural techniques like setbacks and staggered roofing can make it so that one building can have multiple penthouses on different levels. 
  • Pied-À-Terre Apartments: Non-primary residences intended for occasional use. Learn more in episode 35 of our podcast here!
  • Railroad Apartments: Apartments made up of several rooms that are directly connected to each other without a main hallway. 
  • Single-Family Homes: Standalone residences that only house one family.
  • Sponsor Units: Units that are on the market for the first time. Typically, this is either a new construction or conversion from another type of building, or it’s a unit that was retained by the original developer and sold off at a later date.
  • Studio Apartments: Apartments that have a single open space which contains the kitchen, living area, and sleeping space, with a separate bathroom. 
  • Townhouses: Residences that are typically six stories or less, and share at least one wall with another residence. Generally speaking, nearly all townhouses were single family homes when they were constructed, though some of them have since been divided up into multi-family homes.
  • Walk Up Apartments: Apartments within a building that has no elevator. 

Ready to Start Apartment Hunting?

Now that you know all the differences between common New York City apartment floorplans, it’s time to get out there and find the Manhattan apartment of your dreams!

With so much specific NYC real estate terminology involved, it can be confusing and frustrating to search for properties in the Manhattan real estate market on your own.

Working with an experienced and knowledgeable real estate professional can help make the process easier and ensure you get the best property, and the best price. 

Feel free to reach out if the Gasdaska Conlon Team can help you in your search or answer any questions you may have.

Filed Under: Blogs, Buyers

Buying A Condo in NYC: A Thorough Step-by-Step Guide

March 2, 2022 by Jonathan

New York City real estate is different – even if you’ve owned real estate before in other states or counties, the process here in the city is full of unexpected legal twists and turns which can trip up anyone, even seasoned investors. So, how do you go about buying a condo in NYC?

  1. Speak with your bank (or mortgage company, if financing) to determine budget
  2. Find a well-respected real estate agent from a reputable brokerage to facilitate the search and transaction process. Once you have your agent secured, they’ll help you find a condo that you’d like to purchase
  3. Find a real estate attorney before you need to prepare an offer so you can hit the ground running once you’ve found the condo you’d like to purchase(your agent should be able to recommend one)
  4. Work together with your agent and attorney to prepare and submit your offer, enter negotiation, and (hopefully!) get an accepted offer.
  5. Your agent will prepare the deal sheet, which is a summation of the terms of the transaction and send it along to both the buyers and sellers attorneys
  6. Sellers attorney will draft the contract of sale while your attorney does their due diligence on the apartment/building and negotiates the contract on your behalf
  7. Sign the contract and pay your contract deposit (10% of sale) – Buyer signs first, then the Seller
  8. Work with your mortgage banker to submit your loan application – the commitment letter, loan application, and appraisal are commonly requested in the application to the board. If financing, lock in an interest rate with your mortgage lender
  9. Your attorney assembles the title report
  10. Work with your agent to prepare and present your application to the condo board in order to obtain the waiver of their right of first refusal
  11. Get the clear-to-close from your lender and schedule your closing date
  12. Buy a homeowner’s insurance policy
  13. Your attorney will provide you with a closing statement prior to closing with instructions on the checks that must be prepared for closing
  14. Do your final walkthrough of the home with your agent just before the closing date in order to make sure the apartment is in the same condition after it has been vacated by the seller and according to the contract of sale
  15. Attend your closing and get your keys! You’re done buying a condo in NYC!

For the purposes of this guide, we’re including steps that must be taken if you’re planning on financing part of the purchase. If you’re not financing, good news! You’ll have a few less items to check off your to-do list.

While the list above covers the basic flow of buying a condo in NYC, there’s a lot more to each step than meets the eye. Read on to get inside knowledge about each step of the buying process AND learn more about what makes condos so desirable to property investors in Manhattan.

Step-By-Step Breakdown

Step 1: Get Your Financing Documented and Approved

Buying a condo in NYC is different from many other places around the country and world. If you’ll be financing any portion of the sale, you’ll need pre-approval or pre-qualification from your bank or lending institution. These documents state what your lender is willing to give you in order to finance the purchase.

  • A pre-approval is more formalized, and therefore more accurate. In order to get one you have to submit pay stubs, tax returns, bank and brokerage statements, and agree to a credit check.
  • A pre-qualification is a less formal document that a lender gives out stating the amount they think they’d be willing to lend you without extensive financial documentation to support that estimate.

It’s important to have a solid grasp on your budget and buying power because you’ll need it when you submit an offer on an apartment – it’s customary to submit your pre-approval letter and a REBNY Financial Statement whenever you put in an offer on a condo in NYC.

Step 2: Getting a Real Estate Agent and Apartment Hunting

While it’s technically possible to purchase an apartment in Manhattan without a real estate agent, the market is so competitive and there are tons of nuances to negotiating a contract to closing. We wouldn’t recommend trying to navigate that minefield by yourself.

PS: We covered this in-depth in Episode 17: What To Look For In A Great NYC Real Estate Agent

Here’s what to look for in a good real estate agent:

  • Specialization in the type of transaction you’re interested in (geographic area, price point, etc.)
  • Someone that you trust – they will likely know more about you (especially financially) by the end of the transaction than almost anyone else in your life
  • Someone that understands the unique challenges that purchasing property in NYC entails
  • Experience – this should not be their first transaction… you want someone seasoned when you’re buying a condo in NYC, a significant investment.

When you’ve found a real estate agent that you click with who is knowledgeable about condo purchases and the market as it stands, it’s time to start apartment shopping. Your agent can help you figure out what you absolutely must have in your new home, find listings that fit that criteria, and schedule showings around your day-to-day life. 

We recommend allowing at least 2 months for apartment hunting, as some of your deal-breakers or must-haves may not reveal themselves until you’ve seen a few apartment listings. That being said, it can take as long as you need it to, whether that’s 6 days or 6 months. 

Check out Corcoran’s listings in New York City here!

Step 3: Choosing a Real Estate Attorney

New York is a state that requires an attorney to close a real estate transaction, so you’ll need to find a great real estate attorney in order to actually move forward with buying a condo in NYC.

Note that we said real estate attorney, not just a ‘regular’ attorney – there’s a big difference. If the person you have in mind doesn’t work in real estate transactions day in and day out, you’re better off hiring an expert. The good news is, your real estate agent absolutely knows and regularly works with at least a handful of excellent real estate attorneys, and they’d be happy to recommend you to someone they trust.

The real estate attorney’s work really starts once the offer is accepted, but they are an integral member of the team throughout the transaction, so you’ll want to find someone you can trust sooner rather than later.

Step 4: Making An Offer (And Getting it Accepted)

Once you have your heart set on a particular condo, it’s time to put together an offer. Discuss what apartments with similar floorplans and finishes are selling for in your neighborhood with your agent, and consider those comps when deciding how much you want to offer.  Presenting an offer on a NYC apartment is typically more involved then just submitting a price, trust your agent to guide you on what items to include with the offer and how to make your offer as compelling to a seller as possible.

After you submit your offer, it’s time for your real estate agent to shine. Negotiations can be tricky, especially if sellers are set on getting the highest price possible. However, your agent will work with you to strategize and negotiate a fair price, concessions, and get you one step closer to buying a condo in NYC. 

This process can take a day, a few days, or even a few weeks, depending on how many offers have been made on the apartment and how responsive both your team and the seller’s team is. Time is one of the biggest factors in deals falling apart, so it’s important to move quickly whenever you can in order to ensure things go smoothly.

Step 5: The Deal Sheet and Due Diligence

Once your offer is accepted, a deal sheet will be circulated amongst both your and the seller’s teams. This is a detailed breakdown of all of the specific terms of the transaction. It’s important to review and meet these terms as soon as you can in order to get to the contract signing, which locks in your deal.

The finalized deal sheet is then used by your attorney to complete their due diligence. This consists of your attorney researching/reviewing the condo building’s offering plan/prospectus, most recent financials, board minutes, and acquiring a completed questionnaire from the managing agent in order to identify any hiccups which could disrupt the sale or have an adverse effect on you as a new owner. 

You will receive a summary of their findings when they complete their due diligence, and if there are no issues which prevent the purchase from going forward, you can move on to the next step.


Step 6: Signing the Contract and Paying the Contract Deposit

After due diligence is completed and no issues are found, you will be the first to sign the contract, which sets the rest of the sale in motion. Until you sign the contract, nothing is legally binding, so it’s important that you get here quickly after your offer is accepted. 

When you sign the contract, it’s also time to pay your contract deposit to the seller, which is typically 10% of the purchase price. This deposit is usually held in escrow by the seller’s attorney until the closing date, when it is applied to the total cash you are required to bring to closing. 

Step 7: The Commitment Letter and Locking in Your Interest Rate

After you sign the contract and pay your contract deposit, the seller will also sign the contract. At this point your contract is considered fully executed and all the other dominoes begin to fall into place. 

It’s important to be really active in this step of the process as you usually have about 30 calendar days after the contract becomes fully executed to submit the commitment letter from your mortgage company and the board application to the managing agent and board. 

This commitment letter is essentially a step up from a pre-approval. In order to get it, your lender asks for an even more in-depth look at your finances and the finances of the condo, and in turn they provide a more detailed commitment to how much they’re willing to lend you and lock in the interest rate on your loan.

It’s crucial to schedule an appraisal upon the contract being fully executed, as you’re getting the commitment letter, because your lender will want to see that the property is satisfactory and fair compared to the purchase price you and the seller have agreed upon.

Step 8: Title Report

While you are focused on your commitment letter, your attorney will order a title report for your new apartment. This means they conduct title searches on the apartment, the building it’s in, and even the land it’s built on. 

This search is part of the legal process which makes sure that the seller is able to provide you a clean deed at closing. Buying a condo in NYC is a breeze with the peace of mind a title report brings.

Step 9: Condo Board Approval

If you’ve done any amount of research on buying an apartment in NYC, you’ve likely come across some horror stories about co-op board applications. Luckily, condo boards are generally much more relaxed when it comes to getting their approval on a sale. 

Learn more about the differences between co-ops and condos in Episode #5

You and your agent will put together a presentation package focusing on your financial profile, but may also include reference letters, etc., and typically are very similar to a co-op application in regards to the requested documents. Don’t worry, buying a condo in NYC isn’t nearly as daunting as a co-op purchase. The condo board wants to see that you have the money on hand to pay the down payment and what your debt to income ratio is, to prove that you can easily afford the mortgage payment on your new condo. 

While condo boards have the right of first refusal to a sale, invoking that right includes the caveat that the condo board must then purchase the condo at the price and terms that you and the seller agreed upon. This means that condo application denials are extremely rare, though not completely unheard of, and it is really in place in order to deter one owner from severely under-selling their apartment in the building.

Step 10: Clear-to-Close and Choosing a Closing Date

Following the approval of your purchase by the condo board, you’ll get a final clearance to close from your lender. Once you have that in hand, you need to schedule your closing date. It might be hard to get your ideal closing date, due to the number of people whose schedules you have to coordinate with.

Step 11: Homeowner’s Insurance

Purchasing a homeowner’s insurance policy is always a good idea, but if you’re financing it’s likely a requirement of your mortgage. Make sure you have one secured before your closing, so that you can enjoy your new home with peace of mind that its contents are protected!

Step 12: Closing Disclosure and Checks

In the days leading up to your closing date, keep a close eye on your email or mailbox for your closing disclosure and check instructions. The closing disclosure is a document from your lender that explains in detail all of the facets of your mortgage (loan fees, interest rate, taxes, closing costs, etc).

Your attorney will advise you on the check instructions in order for the closing day to run smoothly and for you to finish buying a condo in NYC. They must be official bank checks or certified checks from a member bank of the NY Banking Clearinghouse. If that responsibility is overwhelming, you can wire your attorney the total of all the checks needed and ask them to prepare your checks for you.

Step 13: Final Walkthrough

While you don’t necessarily need to look over the property with a fine toothed comb, the final walkthrough is your last chance to note any issues with the apartment that you would like addressed before you take possession of it. Especially if there were repairs requested as a part of the sale, this is the time to make sure your new home is to your satisfaction! 

If you uncover anything that needs to be addressed, your agent will negotiate with the seller’s team to handle your concerns and make any adjustments before closing.

Step 14: Closing Day 

Generally, closings take a while, because there are so many forms for everyone to review and sign. Be ready to spend a couple of hours reviewing and signing papers. You will have your team (agent and attorney) with you, as will the seller, and there will be a representative from your lender if you’re financing your purchase. 

Ultimately, once the forms are all signed and everyone has been paid their fees, you’ll get your keys and officially be done buying a condo in NYC!

Condo Nuances

The distinction between a condo and a co-op is NOT an architectural one. Instead it’s a difference in the ownership and management structure of the building and the limitations the management places on what you may or may not do with your apartment.

What this means for you is that there may be two identical apartments in two identical buildings, but if one is a condo and one is a co-op, there will be a marked difference in the purchase price and process. When you’re buying a condo in NYC, you actually own the apartment outright and own a percentage of the building’s common areas.

In a condo building, there is a board which runs the condo association and manages the property, but they don’t typically restrict how you take ownership nor your ability to sublet the apartment. If you want the option to sublet the apartment in the future, are a foreign buyer or investor, or want to take ownership in the name of an entity rather than your personal name(s), a condo is the property for you.

The slight drawback to the freedom and flexibility owning a condo gives you is that they are generally much more expensive than co-ops of the same floor plan and finishes. Expect to pay or finance at least 15-20% more when buying a condo in NYC, if that’s the path you choose.

Closing on this Blog Post

While buying a condo in NYC, the greatest city in the world, is more complicated than in the rest of the United States, it’s a process that can be fun and relatively quick if you choose your real estate team wisely and make sure to stay engaged in every step of the process.

If your agent has New York City specific real estate expertise, superior market knowledge, and an informative white-glove approach like that of the members of the Gasdaska Conlon Team, you’ll be kicking your feet up in your new condo in no time.

Have any lingering questions that we didn’t answer? Ready to take the first steps towards buying a condo in NYC? Please, reach out! The Gasdaska Conlon Team is here to help you in any way, whether you’re a first-time buyer, a long-term client, or just curious about the process.

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Filed Under: Blogs, Buyers

How To Find a Quiet Apartment in NYC + Which Buildings to Avoid

February 24, 2022 by Jonathan

New York City’s diverse and dynamic nature can be a double edged sword. We are surrounded by businesses, restaurants, and neighborhoods of all shapes and sizes, but there’s no doubt – New York City and its 8.85 million residents are LOUD. So, how do you find a quiet apartment in New York City?

In general, pre-war apartments tend to be quieter than their post-war or new construction counterparts. Before WWII, thicker walls, thicker floors, and wood doors were standard building practices. These go a long way towards reducing noise transfer from one unit to the next. 

While this newfound knowledge can help you narrow down your Manhattan apartment search a bit, our New York City real estate expertise has taught us a number of tricks to find a peaceful home in the city that never sleeps. In the rest of this post, we’ll share those tips with you and drill down on what makes pre-war apartments so desirable when it comes to a quiet apartment in New York City.

A Brief Pre-War Apartment History

Pre-War Era

To be crystal clear, the “war” in pre-war is WWII. In other words, ‘pre-war’ refers to the construction in the era between 1890ish and 1942. At the time, labor was inexpensive and plentiful, which contributed to the rapid growth that NYC saw in that time period.

Resources were in abundance, so it was standard to have thick masonry exterior walls and lath and plaster interior walls. Poured concrete floors were the norm, as were solid wood doors throughout these buildings. Elevator shafts were typically faced in thick masonry as well. 

Post-War Era

When the United States joined WWII, construction materials were diverted to military efforts and many laborers joined the fight. This meant that builders had to make do with what resources and workers they had. Walls and floors became thinner as corners were cut to successfully house people with the restrictions the war effort placed on civilians. 

By the time the war ended and soldiers returned home, building practices had shifted permanently. In other words, we entered the era of post-war construction. And the era of buildings without a quiet apartment in New York City.

New Construction

In the 1990s, pretty much all the boroughs underwent significant neighborhood revitalization thanks to efforts by the city and local government. Much like pre-war times, the city saw significant changes in a small period of time. We now refer to this era as ‘new construction’, a term that is typically applied to apartments built in 1990 or later.

What Makes a Pre-War Building Quieter?

Lath and Plaster Walls

Lath and plaster walls are responsible for a great deal of the soundproofing in pre-war apartments. And while it’s not commonplace anymore, lath and plaster was about as common in the pre-war era as drywall/sheetrock is today.

Lath and plaster walls are built by tacking 1×4” laths (narrow wooden boards) to the wall studs horizontally. Two rough layers of lime or gypsum plaster are applied over the laths to fill any gaps between the boards and create a smooth wall surface. Last, a smooth white plaster finish is applied, creating a wall surface that averages ⅝-¾” thick.

In contrast, modern drywall is typically only ½” thick, and it is directly tacked to the studs, rather than being backed by wooden laths. Drywall is much more porous and light compared to plaster, which is very dense. 

These differences mean that modern construction walls without soundproofing interventions are much more likely to let noise bleed through than lath and plaster walls, making lath and plaster the obvious choice for a quiet apartment in New York City.

Poured Concrete Floors

Pre-war floors were usually made by pouring a thick concrete slab, usually about 7” thick before the subfloor and wood flooring were added. Meanwhile, modern concrete and steel slabs can be as thin as 3”.

The floors are not only concrete, but they also encase solid steel beams which further strengthen the floors and dampen sound. In other words, the construction practices of pre-war floors make them inherently good at dissipating sound.

Solid Wood vs Hollow Core Doors

Before WWII, interior and exterior doors were commonly made of solid wood, which is quite good at dampening sound. In the post-war construction period however, hollow core wooden doors and later fiberglass or aluminum doors became popular. So modern apartments aren’t the best choice for a quiet apartment in New York City.

If you want to experience the difference between solid wood and hollow core doors yourself, check your front door – it’s much more likely to be solid wood than any other door in your home. Compare the sound that travels through a solid wood door against your interior doors and you’ll clearly notice that the thicker the door, the more sound isolation there is.

Exterior Masonry

Pre-war apartment buildings also relied on extremely thick masonry on exterior walls to regulate temperature and prevent moisture from getting inside, which had the unexpected benefit of also reducing street noise.

Just like interior walls, concrete floors, and doors, the post-war construction era lacked the materials and labor needed to build the massive stone walls found in the pre-war era, so exterior walls became thinner and more permeable to sound over time.

Experienced Broker’s Tips to Finding a Quiet Apartment in New York City

Here are our tips for finding a lovely, quiet apartment in New York City:

  • Look for a higher floor apartment. The more distance you put between yourself and the various noises of the street, the quieter you can expect your new home to be.
  • What does the apartment face? Street oriented apartments get all the traffic and siren noise, while apartments facing the rear of the building generally get much less of that bleeding through.
  • Pay close attention to the surrounding buildings. Noise from neighborhood to neighborhood can greatly differ. Similarly, watch out for bars or nightclubs nearby. The quietest neighborhoods are usually filled with residential or office buildings.
  • Check the Hush City App from the building your prospective apartment is in. Hush City is essentially Yelp for noise levels. Users can review any location’s acoustics and you can cross reference that in your apartment search. (This is not a sponsored post, we just find the app really useful!)
  • Attend multiple open houses/showings of an apartment you’re considering (if possible). By viewing the apartment on different days and at different times of day, you’ll get a sense of what it’s really like living there. Try and get an evening viewing if you can, to see what it sounds like when you’re tired after a long day and want to wind down.
  • Talk to potential future neighbors (with your real estate broker’s blessing). They’ll be able to give you an honest view into what living in the building is really like. Even if the apartment is in a pre-war building, if your upstairs neighbors ripped out all the walls for an open concept floorplan, their flooring is going to be much more flexible, which means you’ll hear more creaks and footfalls. Run this idea by your broker first, though. If your apartment is in a co-op building, chatting up the neighbors could potentially impact your future application to purchase. Always take the guidance of your real estate agent on this topic.
  • Make note of what it sounds like when you tour an apartment. If the floors, doors, or walls are noisy in your apartment, your upstairs or next door neighbor’s apartments will probably be just as loud.
  • Ask your real estate attorney to take a look at noise complaints filed with the board of the building. This is typically done during the due diligence period and is an easy way to get a clear picture of how the building sounds over time.

Finding a Quiet Apartment In New York City

While it may seem impossible to find yourself the soundproof apartment of your dreams, with our tricks and the insider knowledge of what type of apartment building to prioritize in your search, you’ll be sleeping easy in your new home before you know it.

If you buy on a high floor at the rear of a pre-war building in a mostly residential or office building filled neighborhood, you’ll likely be set to enjoy a relatively quiet existence in the city for years to come.

The members of the Gasdaska Conlon Team know that purchasing an apartment in New York City can be a daunting task. The Manhattan Real Estate Market moves fast and can be difficult to predict. Please, don’t hesitate to reach out if you or anyone in your household has any questions about the process, or if you are in the market to buy or sell an apartment but don’t know who to work with. We love to help where we can.

Check out our available listings here!

Filed Under: Blogs, Buyers

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JOHN GASDASKA

Office: 212.821.9138
Mobile: 646.345.7350
jwg@corcoran.com

JONATHAN P. CONLON

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Mobile: 347.564.2440
jconlon@corcoran.com

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