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Sustainable Buildings Local Law 97 To Affect Brooklyn Buildings In 2024

Sustainable Buildings Local Law 97 To Affect Brooklyn Buildings In 2024

Apr 18, 2023 ,,,,,,,,,

If your local Brooklyn apartment has not been making sustainability efforts, it’s time to call your landlord and building owners. Local law 97 (LL97), part of the city’s Climate Mobilization Act in 2019, states that buildings 25,000 square feet and larger must limit harmful energy emissions.  Buildings across NYC will need to comply with the […]

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The Average Condo Common Charges in NYC Are Increasing. Why?

Apr 18, 2023 ,,,,,,,,,

Buying a condo in Brooklyn is an exciting time as the area keeps growing in popularity. We have said time and time again to expect the unexpected fees when you are buying in New York City. Realty Collective is here to give you the rundown on the average condo common charges in NYC that could […]

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Mortgage Recording Tax: What Is It?

Apr 18, 2023 ,,,,,,,,

When deciding to purchase a co-op, condo, or home in Brooklyn, New York, you can be guaranteed additional fees and taxes will add up. Some of the fees that can be included in your closing cost are the mansion tax, transfer tax, title insurance, and linen tax (for co-ops). You can also be guaranteed a […]

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Is It Helpful To Renovate Before Selling An Apartment in Brooklyn?

Apr 18, 2023 ,,,,,,,,

Suppose you are considering selling your Brooklyn apartment in this never-changing competitive real estate market. In that case, you should renovate or freshen up the space. There are a few factors to think about for your apartment remodel. Keep reading to find out where to draw the line. Is It Helpful To Renovate Before Selling […]

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Understanding Debt-to-Income Ratio for Co-ops in Brooklyn

Apr 18, 2023 ,,,,,,

Before searching for “what Brooklyn neighborhood I should live in,” you may want to consider your debt-to-income ratio or DTI. Buying into a co-op can be great and challenging all at the same time. We did a little research ourselves, so you have an idea of what the debt-to-income ratio for co-ops in Brooklyn looks […]

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What does it mean when an apartment listing says “net effective rent”?

Apr 18, 2023 ,,,,,,,,

You might find a listing that says “net effective rent” when searching for that perfect Brooklyn apartment. What does this mean? Is the price listed the price I pay? How is it calculated? We have all your answers below.  What is net effective rent? Before we explain the definition, let’s understand two other real estate […]

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What Tax Documents Do I Need To File My Taxes as a Landlord?

Apr 18, 2023 ,,,,,,,,,,

When becoming a landlord or property manager, you are responsible for reporting your rental income each tax season. You can be subject to costly fees, fines, or penalties if you don’t report the proper landlord taxes. This is especially true with the current 1099 requirement from the IRS.  1099 requires landlords to report rental income […]

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How to Read and Understand a Real Estate Deal Sheet

Mar 22, 2023 ,,,,,,,,,

Finding the right apartment or home, especially in Brooklyn, a top location in the NYC real estate market, is an exciting next step in your real estate journey. Once you have made an offer, the seller’s attorney or listing agent will give you a deal sheet or transaction sheet.  A deal sheet is a document […]

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Women-Owned Business Series: Rebecca & Marrina from makeSHIFT

Mar 22, 2023 ,,,,,,,,,,,,,

Welcome back to our Women-Owned Business Series! We are happy to feature makeSHIFT, founded by Rebecca & Marrina! Their practice focuses on making design accessible on a broader scale versus traditional design and architecture. Born out of their pro-bono work, their clients benefit from a conscious transformation of space. Read more about their organization below! […]

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Women-Owned Business Series: Ash from Ash Fox Proposals

Mar 22, 2023 ,,,,,,,,,,,,

Welcome back to our Women-Owned Business Series! We are so happy to feature Ash Fox from Ash Fox Proposals! Ash works to help deliver a pristine, heartwarming, and beautiful engagement for people in love in NYC. With that extra touch of romance, she ends up a crucial part of couples’ lives. Read about her story […]

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