NYC real estate taxes are an important component of value, and can be a source of confusion for even the most seasoned broker. Here are some basics that should help clear up the mystery. Abatements and Exemptions: NYC has various tax programs that operate to reduce the tax burden on certain real estate. Depending on …
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Apartment renovations generally require two separate approvals. First, management of the building must approve the alteration and grant permission for work to begin. Second, if required, the NYC Department of Buildings (the “DOB”) must also approve the work and grant the construction permit. Management approval generally starts with the completion of an alteration application. …
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