Month: June 2019

Buyer Broker in New York City

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As a Buyer Broker in New York City Metropolis Apartments will assist our buyer/customers in all aspects of the search and closing aspects of acquiring a property in New York.

As a member of the Real Estate brokerage community for over two decades we are an integral part of a network of over 200 member brokerage companies with thousands of listing agents in New York City, all of whom enjoy mutual co-brokering agreements with METROPOLIS.

Specializing as a Buyer Broker in New York City, the METROPOLIS agent will leave no stone un-turned, tapping data bases and contacts for both off-market and on-market properties. Our goal is to present to our buyer/customers a wide range of potential properties so that an informed choice may be made.

A Listing Broker represents the sellers’ interests. The buyer needs to have knowledgeable and dedicated representation to be sure to get the right property at the right price, without paying too much for the incidentals of the deal.

As Buyer Broker in New York City we our dedicated service includes advice and consultation in the following areas:

  • Whether to buy CO-OP or CONDO.
  • Budget evaluation.
  • Building financials.
  • Attorney referrals.
  • Mortgage Broker referrals.
  • Infrastructure analysis of potential neighborhoods.
  • Negotiation of the deal including price, conditions, improvements, etc.
  • Terms of Sales Contract.
  • Board package preparation, completion and submission.
  • Board interview preparation.
  • Coordination and follow up of all parties to the transaction.
  • Setting of closing date and venue.

WE ARE COMMITTED TO GET YOU THE BEST PROPERTY AT THE BEST PRICE IN THE SHORTEST TIME POSSIBLE.

Metropolis Apartments is a Buyer Broker in New York City.

Closing Costs NYC: Condo vs Co-op Buyer’s Guide 2019

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Despite having to pay sky high prices for apartments in New York City, some NYC buyers may not even realize that there are additional closings costs that they haven’t considered. The extra costs can really add up, especially for condos. In this article, you’ll see a comparison of condo vs co-op closing costs NYC buyers pay.
Co-op vs Condo: How much should I expect to pay for buyer closing costs in NYC?

Overall when purchasing a co-op in NYC, buyers should expect to pay about one to two percent of the purchase price, or two to three if the apartment costs more than $1 million. As for condos, expect two to four percent as a safe range, the lower end for properties under a million dollars with small mortgages. New construction can be much higher, in some cases above 5%. You can quickly estimate what you’ll pay with Prevu’s closing costs calculator for buyers.
Why are NYC condo closing costs higher?

It’s a double whammy, condos cost more in price terms and they also have higher real estate closing costs! The reason is that when you are buying a condo with a mortgage you a required to pay a mortgage recording tax and typically required to purchase title insurance. While if you purchase a co-op with a mortgage, you are not. Technically when you are buying a co-op apartment, you are buying shares in the co-op and have a proprietary lease on the apartment. While it may be possible to purchase title insurance for a co-op, most opt not to buy it.

METROPOLIS APARTMENTS is a Full Service
Real Estate Brokerage offering all
the traditional services of a
Buyer, Seller and Rental Broker.
Our clients enjoy the synergistic
confluence of experience and technology.
COME DREAM WITH US.

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