Navigating the NYC Apartment Maze: Condos vs. Co-ops with Seth Beverly III

Explore what defines these two popular forms of apartment ownership, delve into their unique histories, dissect their operational structures, analyze market trends, and highlight the practical considerations for buyers and sellers alike.

co-op vs condo differences, buying a co-op, condo ownership guide, and real estate decision making.

In a city of towering co-ops and sprawling condo buildings, you're not just buying a single unit; you're buying into a collective (sometimes a literal corporation). The financial and physical health of that building will directly impact your quality of life, your wallet, and your long-term investment.

Beyond the beautiful finishes and a great view, what should you be asking about a building's financials and history? Here’s a guide to help you dig deeper and make a truly informed decision.

What Does The SALT Cap Increase Mean For My Taxes?

As a New York homeowner, the recent changes to the State and Local Tax (SALT) deduction cap, as part of the "One Big Beautiful Bill Act," can significantly impact your tax situation.1 Here's an explanation of the changes and some practical actions you can take.

***This is not tax, financial or legal advice. Consult a tax accountant to ensure that your financial obligations are met and properly handled. The purpose of this article is to share opinions based on limited knowledge and research about a topic that should be of interest to my consumer base.

The New SALT Cap and How It Affects You

The NYC Mansion Tax is a real estate transfer tax levied on the purchase of residential properties within New York City that sell for…

The current tiered system for the NYC Mansion Tax, applicable to residential purchases of $1 million or more, is as follows:

• 1.50% for purchases from $3,000,000 to $4,999,999

• 3.75% for purchases from $20,000,000 to $24,999,999

• 3.90% for purchases of $25,000,000 or greater

Effective marketing is key to reaching the widest pool of potential buyers. I utilize a multi-faceted approach:

I'll ensure your home receives maximum exposure to qualified buyers, both locally and beyond.

For in-person staging, the goal is to optimize the home's appearance through decluttering, repairs, and strategic furniture placement to enhance its appeal.

Both methods align with my philosophy of "honest photography" to convert web traffic into offers. Whether through technologically advanced virtual transformations or meticulous in-person arrangements, my masterful use of staging ensures that prospective buyers feel a confirmed experience when they arrive, building trust and strengthening negotiations.