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The fees are steep, typically totaling as much as 15% of the annual rent, about $7,000 for the average-priced New York City apartment. NYC bans unusual practice of forcing tenants to pay real ...
(The Center Square) — New York City landlords will be required to pay costly broker fees for tenants under a plan approved by the City Council that real estate groups argue will drive up rents ...
The hefty one-time payments, known as broker fees, are ubiquitous in New York but nearly unheard of anywhere else. In most other cities, landlords cover the commission of agents working on their ...
Alice Mason (October 26, 1923 – January 4, 2024) was an American real estate broker, socialite, and political fundraiser. According to the New York Times she became one of the most powerful real estate brokers in Manhattan and was known as "the person you called if you couldn’t get past the [ co-op ] board."
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In 2003, New York City had roughly 61 city agencies employing an estimated 500 lawyers as administrative law judges and/or hearing officers/examiners. [13] Non-OATH tribunals that also operate in New York City include: The city DOF Parking Adjudications Division (Parking Violations Bureau) adjudicates parking violations. [14]
It is a transfer fee, payable upon the sale of an apartment to the co-op. Flip taxes are considered a method to help raise money for a co-op's overhead expenses without raising the maintenance fees or assessing flat charge to all residences. Charging the fee to those who are leaving the building seems to be the most politically feasible.
A landmark agreement would eliminate real estate brokers' automatic commissions of up to 6%, potentially saving home buyers and sellers thousands of dollars.