NYC Real Estate Attorney’s Closing Report: December 2016

NYC Real Estate Attorney’s Closing Report: December 2016

Just a few of our recent closings. If you are also looking to buy or sell at these property addresses, you might want to give us a call.

Property Value Transaction
200 Riverside Boulevard, NY, NY $2,150,000 Condo Purchase
360 Cabrini Boulevard, NY, NY $640,000 Coop Purchase
215 Adams Street, BK, NY $340,000 Coop Purchase
310 Riverside Drive, NY, NY $400,000 Coop Purchase
75 Henry Street, BK, BY $639,000 Coop Sale
221 West 82nd Street, NY, NY $760,000 Coop Purchase
555 West 23rd Street, NY, NY $1,659,000 Condo Sale
85 Livingston Street, BK, NY $625,500 Coop Purchase
357 East 57th Street, NY, NY $629,000 Coop Purchase
245 Manhattan Avenue, BK, NY $995,000 Condo Sale

From the New York Times: Lead Paint and Illegal Sublets

In the attached article, the New York Times answers common questions that prospective purchasers may have. The first part discusses lead paint, which is a common feature of many older apartments. Though there are associated hazards, especially in houses with small children, there also ways that those risks can be easily recognized and mitigated.

In the second part, the article discusses the laws and ethics of renting out apartments short-term through sharing services such as AirBnB, which in some cases can be illegal. Prospective users of these services should always be aware of local laws concerning apartment use, as well as their building’s policy on temporary sublets, before hosting.

Details such as these can sometimes appear daunting to prospective purchasers, but remember that your real estate team is here to help–keeping actively involved during the due diligence stage of any purchase is the first step to staying educated about the rules and risks of purchasing a particular condo or coop.