Hi Mr Usamah
If you are planning on putting your home up for sale may I suggest that you interview a real estate
professional to help you in doing so. We work specifically for you with marketing and getting
it sold for the highest and best market price. If you are just gathering information, again as my
fellow professionals have stated we need to see the interior to give you a more precise market home value. Please feel free to call or email me when would be a good time to visit with you
to see the property and discuss the CMA with you.
madelinepadovano@fillmore.com
718-332-8800... more
Dear zanmet:
Go on www.PropertyShark.com and pull out the details on the property you are considering, you get lots of info there.
Then go onto NYC.gov and connect to Building Information System (BIS), you can use this link: http://a810-bisweb.nyc.gov/bisweb/bsqpm01.jsp
Building Information System will show you the certificate of occupancy if there is one and also if there are any violations on the property (caution...sometimes there may still be a certificate of occupancy on the property even if it states that none are available!).
Then you can go back to NYC.gov and connect to The Automated City Register Information System (ACRIS), you can use this link:
http://www.nyc.gov/html/dof/html/jump/acris.shtml
As far as questions for the agent...
1) What is the annual rent roll?
2) What are the annual expenses?
3) What is the net operating income?
If I can be of further assistance or if you need help locating a good property to purchase please let me know. Good luck!
Sincerely,
Mitchell S. Feldman
Associate Broker/ Director of Sales
Madison Estates & Properties, Inc.
Office: (718) 645-1665/ Cell: (917) 805-0783
Email: MitchellSFeldman@aol.com... more
We are located in the heart of Sheepshead Bay, and know every block and have a current database of current house hunters. Feel free to contact me at 718-234-9617 also visit our websites www.nordeastrealtygroup.com and www.nordeastrealty.net... more
We consider foreclosure purchase scenarios. Renovation funds can be added to the loan with staged draw schedule. Can close in 10 days. Typically looking at 50LTV, 60LTV on case-by-case. Other conditions and restrictions apply Contact for more details info@nordeastrealtygroup.com... more
You may want to contact a local office to help out with your search, if you are looking to rent a property management company, to buy a Real Estate Brokerage. Good luck
Spirit
I just sold an 8 Family building with no vacancies March 13th 2012 it closed for $1,250,000 and the rent roll was DHCR reg for $82,000 per yr all two bedroom apartments brick house 4 story rubber roof, gas heat the one drawback was the old electric they still had the fuses not the circut breakers
Each building is priced usually by its income or what it is reg for in the DHCR and its expenses no one will purchase a negative cash flow building unless they have other plans keeping a building vacant on your account having 5 empty apartments is a huge loss to you and really you would only keep one vacant to show and for owner if it will be owner occupied.
A brownstone or limestone house one or two family will go for much more than a building this size.... more
Since most foreclosures are listed with brokers, work with an agent of your own; be aware that a mortgage pre-approval letter is required in order to determine your price range and for any offers to be taken seriously.... more
Hi Oz
Are you the owner? because as stated by my co-agents/brokers they must be overpriced or under-marketed. but if you could give us the addresses we would certainly check it out. I have not noticed anything posted
on the web for houses on elmwood ave. and I do have buyers looking at that area.
madelinepadovano@fillmore.com... more
I recently just wrote a blog article on a quick way to do this:
http://brownstonecyclone.com/2012/05/19/in-case-you-were-wondering-how-to-calculate-your-new-york-city-property-taxes/
Dear Anton:
With a co-op there are no legal limitations. Having said that, usually if a co-op raises the maintenance it is well thought out with the plan being that they will not have to raise the maintenance again (or at least not soon). The bottom line is that the only reason the maintenance is raised is because the co-op is in a bad financial situation whereby they need to accumulate more funds/assets to pay the bills and stay financially solvent. It is for this reason that as a buyer you need to check out the co-op's financial statements to make sure they are in good shape. If they are in good shape it is a safe bet that the maintenance will not be going up soon. You also want to look at the overall condition of the building and the reserve fund. If the building all of a sudden needs a large capital improvement and the co-op doesn't have the funds to pay, the maintenance will probably be going up. A well run co-op will be prepared for that and have a feel for when those large capital improvements will be necessary.
In the end, the co-op board and owner's vote on such matters and in the end they have to do what is in the best interest of the co-op which may mean you paying a higher maintenance down the road. On a side note, when purchasing a co-op, always find out what the flip/transfer tax is on the co-op. This is a fee that the SELLER pays when they sell their co-op. This amount varies from co-op to co-op and can be as low as $0.00 or as high as 20% of the sales price. Even though the seller pays this it is a concern for the buyer because you will have to pay that when you sell and also if the flip tax is too high some banks will not be willing to give a mortgage attached to that co-op.
If I can be of further assistance, please let me know. Good luck!
Sincerely,
Mitchell S. Feldman
Associate Broker/ Director of Sales
Madison Estates & Properties, Inc.
Office: (718) 645-1665/ Cell: (917) 805-0783
Email: MitchellSFeldman@aol.com... more
Hello Carol, you and your husband should visit Crown Heights at different times of day and on different days, walk the streets and form your own opinions. Recently in the news concerning Crown Heights, the NY Daily News reports; http://www.nydailynews.com/new-york/brooklyn/12-year-old-boy-shot-leg-brooklyn-sneaker-shop-article-1.1082315?localLinksEnabled=false... more