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Therefore, most foreigners find it easier to purchase a condominium ( condo ). A construction boom and the perceived strength of New York real estate. If you are buying a newly built condo (in NYC it is called “ buying from a sponsor”), you will have to pay: New York City real property transfer tax, which equals. There is now a 17-month supply of luxury apartments in Manhattan,.
Purchasing a condominium or condo is similar to buying any other type of real estate. In New York City, the Department of Housing, Preservation and. Buying a condo in a new development in New York is an attractive option for many, but before making a purchase , you should be aware of some of the risks . Buying an apartment in New York City means familiarizing yourself with the pros and cons of these two types of dwellings. To buy an apartment in NYC , a co-op, condo or private home can be a confusing, time consuming process.
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