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No two single-family townhouses are exactly the same, and valuing a property is an amalgam of art and science.
Multifamily properties range from two family to ten unit buildings and above. We know what factors are most important in valuation
Mixed-use properties, often located along avenues, combine a commercial space with living space above.
Condominiums are “real property” in the sense that just like a free-standing house, there is a deed, and the owner is responsible for property taxes
“Common Charges” are the monthly fees paid to the condominium board to cover expenses such as building staff, building maintenance, and as a reserve for capital improvements such as elevators, boilers and the roof.
As a condo owner you enjoy the freedom to sublet your unit without encumbrance, and you have more flexibility when selling your property as well.
When you purchase a co-op apartment, you are actually buying shares of stock in the building (corporation), and in tern receive the right to live in your apartment.
As an owner of a co-op apartment, you pay a monthly “maintenance” to the co-op board to cover expenses such as building staff, building maintenance, contribution to a capital expense reserve fund, building debt service, and real estate taxes.
Co-ops are typically less expensive to purchase than an equivalent condo unit, and a portion of your monthly maintenance is tax deductible as well.
