Although mansions in terms of size may come far and few between in New York City, understanding the mansion tax is vital for any potential buyer. For many buyers, the mansion tax tends to be one of the largest closing costs when buying a co-op, condo, or house, and should definitely be considered when looking for a home. 

If you intend to buy a home in New York City, you should understand exactly what the mansion tax is, which properties are subject to the tax, and when to pay this tax. This article will cover all of these details, as well as ways to offset other closing costs.

Although New York City agents are used to the constantly shifting real estate market, 2021 presented an unprecedented set of challenges for people across the globe. As we approach 2022 with COVID-19 still a pressing threat, real estate agents, especially beginners, will be facing a new normal. 

While the basics of succeeding in the real estate industry remain the same, much will change to accommodate new social distancing guidelines and the latest state of the economy. Here are SPiRALNY’s nine practical tips to succeed as a new agent in the industry, despite the changing times. 

The New York City real estate market is known for its excitement and dynamism and part of the reason for this is its unique co-op market. Applying for and living in co-ops vary greatly from normal real estate transactions, making it a complex process.

As co-ops make up for 75% of New York City’s apartment buildings, its important that buyers understand how to navigate the co-op world. This article will cover everything you need to know about buying a co-op in New York City, from being approved to making an offer. 

Whether you have years of experience as a real estate agent or are just starting out in the industry, you may be wondering what type of real estate you should specialize in- residential or commercial. 

Both residential and commercial real estate both present potential pros and cons for an agent’s career and have different qualifications to succeed. In addition, one type of real estate may work better for one agent over another based on their experience and personal characteristics. 

When considering moving to a new space, you may find yourself debating whether you should buy or rent. Specifically in New York City, renting has become the more popular option. However, is it the wiser choice? At SPiRALNY, we don’t think so.

While renting may require less upfront costs, buying an apartment is the better long term decision. Over time, your property will gain value and help you save money, not to mention the pride of owning your own space. Here are a few reasons we at SPiRALNY recommend buying a home, rather than renting.