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[vc_column_text css=”.vc_custom_1570100636632{margin-bottom: 25px !important;}”]One of the most important decisions you can make is whether to buy or rent an apartment. There are times when it makes more sense to rent. When that’s the case, a licensed real estate broker can help sort through the lifestyle and financial considerations involved and help you make the right choice for your needs. An experienced Wald Real Estate agent knows the market and understands the rental process. We can negotiate on your behalf and guide you through the complexity and range of considerations you’ll face in today’s rental marketplace. Some factors you may want to consider in your decision to rent versus buy are financial consideration, job relocation, future needs, home maintenance, and repairs. If you don’t have time for ongoing maintenance and repairs, renting is a better option, as the landlord or management company is responsible for the property.[/vc_column_text][/vc_column][vc_column width=”1/2″][vc_accordion][vc_accordion_tab title=”Who are we?”][vc_column_text]Whether you’re looking for property for sale in New York area or property for rent, Stephen P. Wald Real Estate Associates, Inc. makes searching easy.

Use our unique geolocation mapping feature to root-out your ideal condo, coop, townhouse or apartment and contact the owners direct. We will help you find your dream house in just a few seconds.

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We offer our clients a wealth of knowledge regarding all aspects of purchasing or selling a home. Whether it is helping you search for your dream home, discussing new New York real estate developments.[/vc_column_text][/vc_accordion_tab][vc_accordion_tab title=”The Difference”][vc_column_text css=”.vc_custom_1461467346854{margin-bottom: 15px !important;}”]We know that purchasing Commercial and Residential Real Estate is an investment in the future. In depth knowledge and a wealth of market experience are vital when making such an important decision.
Plus, we offer you 0% commission for evaluating your home. We are flexible and all costs are negotiable. Don’t hesitate and contact us for more info today![/vc_column_text][vc_progress_bar values=”%5B%7B%22label%22%3A%22Home%20Evaluation%20Rate%22%2C%22value%22%3A%22100%22%7D%2C%7B%22label%22%3A%22Sale%20Rate%22%2C%22value%22%3A%2296%22%7D%2C%7B%22label%22%3A%22Rentals%20Rate%22%2C%22value%22%3A%2290%22%7D%5D” bgcolor=”purple” options=”striped,animated” units=”%”][/vc_accordion_tab][/vc_accordion][vc_button title=”CONTACT US TODAY!” color=”btn-info” size=”btn-large” href=”http://www.waldrealestate.com/contact-us/”][/vc_column][/vc_row][vc_row css=”.vc_custom_1450188979819{margin-top: 25px !important;}”][vc_column][vc_separator color=”purple” style=”shadow”][/vc_column][/vc_row][vc_row][vc_column]

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TYPES OF RENTAL BUILDINGS IN NEW YORK CITY

In New York City there are three types of buildings in which you can rent an apartment: rental buildings, cooperatives (co-ops) and condominiums. Each of these types of properties has its own rules and regulations. It is important to understand the distinction between them, as this will influence the timing and parameters of your search for a home.


Closing Costs ── The Difference between Co-Operatives and Condominium in New York

Co-Operatives

An apartment in a building owned by a corporation or trust, in which each owner purchases stock representing the value of a single apartment unit and receives a proprietary lease as evidence of title. Shareholders pay a monthly maintenance fees to cover building expenses including real estate taxes the shareholders portion of the underlying mortgage(if there is one) Generally sales are subject to approval by a board of directors, and buyers must submit a purchase application (board package). The board will also require an interview. Financing and subletting is restricted in most coops.

Condominium

– A multi-unit structure or property in which persons hold fee simple title to individual units and an undivided interest in common areas(lobby, halls, stairways etc) Each individual apartment gets a separate tax bill from the city. There is also monthly common charges for building expenses. Financing and subletting is more flexible.

Cosing costs for co-op and condo sellers in NYC

*It varies if you own attorney. Check with bank/mortgage broker for additional fees . New York State Law requires a written letter of engagement if the legal fee will exceed $3,000. Non New York State residents should procure exemption for state transfer tax forms (TP584) . These are only estimates. Please confirm closing costs for specific transactions with your attorney and/or mortgage representative.[/vc_column_text][/vc_column][/vc_row][vc_row css=”.vc_custom_1450188979819{margin-top: 25px !important;}”][vc_column][vc_separator color=”purple” style=”shadow”][/vc_column][/vc_row][vc_row css=”.vc_custom_1401457102686{margin-bottom: 10px !important;}”][vc_column]

Recent Properties

$ 10,000 per month

177 Prince Street #PH

Category:, , in
Rooms:3Baths:1.5 ID:34926
$ 4,800 per month

752 West 178th Street Office 1A

Category:, , in
Rooms:6Baths:2 ID:34869
Agent:Matthew Nesi
$ 695,000
In Contract
in contract

27 Commerce Street Apt. 5C

Rooms:3Baths:1 ID:34764
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