offering plan: Manhattan Real Estate: FAQ About New Residential Developments
- 01/10/11 05:04 AM
WHAT IS CONSIDERED NEW RESIDENTIAL DEVELOPMENT?In New York, this is a residential offering that is completely new to the market, and must be approved by state and local governments. It includes both ground-up construction and the conversion of an existing structure, such as an office building or rental property.WHAT IS A ‘SPONSOR'?The legal entity that owns the new development being offered-considered "the seller."WHAT IS AN ‘OFFERING PLAN'?A comprehensive disclosure document provided by the Sponsor and approved by the Office of the Attorney General of the State of New York ("Attorney General") that describes the property's offering.WHAT IS AN ‘OFFERING PLAN AMENDMENT'?A … (9 comments)
offering plan: Determining Price Differentials Using Condo and Coop Offering Plans
- 10/08/10 03:24 PM
A seller recently asked what is the price differential for each floor of the same line in a Manhattan apartment building. In Manhattan there are many variables in determining the price differential for each floor. A beautifully renovated apartment on a lower floor can easily sell for a higher price than an "original condition" apartment on a high floor. The parlor floor in a townhouse may be worth more than the 4th floor if it's a walk-up. The second floor in a pre-war cast iron building can have unique windows and higher ceilings than similar apartments on higher floors. … (7 comments)
WHAT IS CONSIDERED NEW RESIDENTIAL DEVELOPMENT?In New York, this is a residential offering that is completely new to the market, and must be approved by state and local governments. It includes both ground-up construction and the conversion of an existing structure, such as an office building or rental property.WHAT IS A ‘SPONSOR'?The legal entity that owns the new development being offered-considered "the seller."WHAT IS AN ‘OFFERING PLAN'?A comprehensive disclosure document provided by the Sponsor and approved by the Office of the Attorney General of the State of New York ("Attorney General") that describes the property's offering.WHAT IS AN ‘OFFERING PLAN AMENDMENT'?A … (9 comments)
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