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April 27, 2023
There are many cities in the US that have some form of rent control, although the specifics of the policies can vary widely. Here is a list of some of the major cities with rent control policies: New York City, NY San Francisco, CA Los Angeles, CA Washington, D.C. Berkeley, CA Santa Monica, CA West Hollywood, CA Oakland, CA San Jose, CA East Palo Alto, CA Richmond, CA Hayward, CA Los Gatos, CA San Diego, CA Cambridge, MA Somerville, MA Brookline, MA Cambridge, MA Boston, MA Portland, OR Portland, ME It’s important to note that rent control policies are often subject to change and can vary in their specifics from city to city. Additionally, some cities may have other forms of tenant protection laws, such as just cause eviction ordinances, that provide additional protections to renters. Mortgage Rates Calculate Your […]
May 31, 2017
Office condos are buildings with individual units that companies can purchase as office space. Though they are relatively new in the United States, they’re becoming increasingly common in big cities with limited space, such as New York City. Here is a quick breakdown of the office condo market in NYC. Who is investing? Nonprofit organizations are the largest classification of office condo buyers in New York City, making up 24% of buyers. For the approximately 25,000 nonprofits based in NYC, office condos are the ideal choice for office space because they’re the ideal size, and they’re economical. Nonprofit organizations benefit more from owning their office condos instead of leasing. Owning protects them from being forced to leave due to expensive rent. In addition, in the United States, nonprofit organizations are exempt from property taxes if they buy their office […]
May 24, 2017
An office condo is a great investment for small business owners looking for affordable office space in a great location. However, before you obtain an office condo, it’s important to be aware of all the potential fees you may incur along the way. Closing costs on commercial real estate are generally much higher than those of residential property, and can run into the tens of thousands of dollars. Below is a quick breakdown of some of the buyer’s closing costs on office condos in New York City. Attorney The first fee you may run into in the process of purchasing an office condo is the attorney fee. It is highly recommended you get a commercial real estate lawyer to help you negotiate the transaction and complete any complicated paperwork. This can cost approximately $5,000. Origination fees Origination fees, […]