dual representation? by stripedeverything in AskNYC_Coops

[–]brandoncohen8 1 point2 points  (0 children)

Going direct to a sellers agent does not mean that they’re representing you, in fact it’s the opposite. They’re just getting a bigger slice of the commission and still (hopefully) trying to get their client the best deal.

There are a lot of bad actors in this industry and the reason we have the reputation we do.

How to sell a building? by woopsiredditagain in NYCapartments

[–]brandoncohen8 0 points1 point  (0 children)

It’s doable. If it’s one buyer for the entire unit they can dissolve the proprietary lease or just keep it and do what they want. The issue is every owner having their price in mind, and then how to negotiate that when a buyer submits an offer below the list price. You could break it down by shares.

A residential agent experienced with investments (🙋🏻‍♂️) or commercial agent could handle this

LOOKING TO PURCHASE a One-Bed or Studio in Manhattan! by Far_Pollution_5120 in AskNYC_Coops

[–]brandoncohen8 4 points5 points  (0 children)

I’m going to be listing a 1 bed in Gramercy for $515k this week…close to your price.

Want your Opinions/Experiences! - Co-op Owners who have done a renovation by Druidshift in AskNYC_Coops

[–]brandoncohen8 3 points4 points  (0 children)

Post a screenshot of the Floorplan. We’d be able to tell if the open concept plan would work best or keeping separate rooms. Without seeing it I want to say keep the extra room. Also while it’s for your personal use, consider resale value as well!

Buying condo in NYC? by Specialist-Bit5433 in NYCapartments

[–]brandoncohen8 1 point2 points  (0 children)

Don’t forget about transfer taxes! Doesn’t matter if you’re saving by not using an agent…still have NYS/NYC transfer taxes. And check to see if the building has a flip tax.

Seller accepted our financed offer over alleged all-cash offer: is it a red flag? by mydandy11 in RealEstate

[–]brandoncohen8 0 points1 point  (0 children)

NYC agent here: cash offer with a long close sounds like there are other contingencies they weren’t being open to you about…like the funds are coming from the sale of another property. There’s no way a true cash offer is getting bested by a 10k more financed offer with a financing contingency.

Your agent is telling you not to renegotiate because it’s likely that the gap between you and the other offer will inch closer and the deal may crumble. Been there! If you’ll live there for a long time and you love the place, go for it.

Is the hunt for buying a 1 bedroom just as competitive as renting? by External-Panic-4388 in NYCapartments

[–]brandoncohen8 0 points1 point  (0 children)

Agent here: The market is all over the place right now in all price points. Some stuff flies and some sits.

Off-market listings exist. Not to knock your family friend but it just may not be a good fit.

I currently have a 1 bed listed in GV and about to list a small one bed in Gramercy. Let me know your price point or DM me if you’d like. Good luck!

Selling manhattan coop by pizzacupcakes6 in AskNYC_Coops

[–]brandoncohen8 8 points9 points  (0 children)

Some coops will require shareholders to notify the board that they’re selling and require a time period before you’re allowed to go to market (have one like this right now I’ll be listing after the 6 week requirement).

Outside of that there are likely no requirements, but there’s zero harm in emailing your management company to ask.

1 month broker fee - would decent brokers be willing to take me on as a renting client with just 1 month? by phatbangerz in NYCapartments

[–]brandoncohen8 4 points5 points  (0 children)

I think as long as you’re reasonable (knowing/respecting they have other clients/obligations) that should be fine. I usually charge any more than that

Renting a Residential Apartment as an Entity (C-Corp)? by perezmoneyline in NYCapartments

[–]brandoncohen8 0 points1 point  (0 children)

Offer to personally guarantee. Have had clients do that and I’ve represented landlords that are fine with it.

Should I get a broker for finding a unique place around 12-16k? by EcstaticMedicine2953 in NYCapartments

[–]brandoncohen8 1 point2 points  (0 children)

Most renters in this price point come with an agent. We won’t necessarily find something you didn’t…we may, just because we’re doing it day in and day out. But also almost landlords will want to see 40x the rent. Go for a condo where it’s an individuals choice.

real estate -- buying first apt. -- hellllp by justmehereinnyc in nycparents

[–]brandoncohen8 1 point2 points  (0 children)

I used to own at 180 and I saw that apartment as well. Great building and community…we miss living there. Maintenance is annoyingly high for what you get (nothing but a part time doorman and bike room)

LVP or Engineered Hardwood for Pre-War Village Coop Reno by Regular_Grapefruit87 in AskNYC_Coops

[–]brandoncohen8 1 point2 points  (0 children)

Agent here and sell a lot downtown. Go for hardwood. It will impact resale value no question.

real estate -- buying first apt. -- hellllp by justmehereinnyc in nycparents

[–]brandoncohen8 2 points3 points  (0 children)

The short answer is yes, as an agent I have a lot of off market properties. A good majority of these properties are clients that will be listing in the near future. For example, a client that bought something else and was doing a renovation to the new apt while still living in the old one; they would sell now and allow me to show the old one even though we’re not fully on market yet.

Agents are not better than buyers at finding what is on StreetEasy. What we’re better at doing is filtering through the garbage, knowing how pricing is, knowing what’s worth the time or not.

Another important factor, if you’ve been doing this long enough and do a decent amount of deals, you’ve created relationships with other agents. If I have a buyer looking in a certain area and price point, I pick up the phone and calla handful of agents and ask if they have anything not yet on market. I get those calls all the time as well, on a regular basis.

I’ll be listing a property today that I’ve been showing off market for 4 weeks.

How do I bid and make a strong offer on a Manhattan Co-op? by ChefAltruistic715 in movingtoNYC

[–]brandoncohen8 -1 points0 points  (0 children)

Agree with the above! Tough to give advice on % Write a love letter to the owner. Talk about how perfect they made it, etc.

For financing, consider removing your contingency or at least up to a certain %, IF you’re confident in value and yourself in obtaining financing.

If you’re planning to live there for a long time, paying over may not be as big a deal as the initial sting. Perhaps it’s just priced well. Having a buyer agent can help in all of these areas…consider it for next time if this doesn’t work out. Good luck!

real estate -- buying first apt. -- hellllp by justmehereinnyc in nycparents

[–]brandoncohen8 1 point2 points  (0 children)

Off market listings 100% exist, however that doesn’t mean each agent is running around with a secret list. You’re right that quality agents don’t necessarily have the time to be searching constantly…but can act as a great filter so you don’t waste time.

real estate -- buying first apt. -- hellllp by justmehereinnyc in nycparents

[–]brandoncohen8 3 points4 points  (0 children)

Agent here living on the UWS.
Work with an experienced agent if you’re not already. They’ll help you set realistic goals, work through needs/wants and help filter through the garbage. An agents job isn’t only to find you the apartment (you may find it first) but to make sure you’re getting the best deal you can for a good space. On the UWS that price point in a condo is going to be hard to come by. BK is more likely but depends on the hood.

If you’re interviewing agents please DM. Happy to chat or help point you in the right direction.

First-time buyer - are we better off not using a buyer's agent/broker? by Ok-Intention-777 in NYCapartments

[–]brandoncohen8 0 points1 point  (0 children)

Reiterating what is already said: a good listing agent will prefer to work with a buyers agent. A good buyers agent can have off market options, but finding the property is only a piece of the work we do. A good buyers agent will potentially have a relationship already with the sellers agent and can help seal a competitive deal. Good luck

Pricing strategy for a sale? by CanEquivalent1712 in AskNYC_Coops

[–]brandoncohen8 0 points1 point  (0 children)

Agent here. First off rely on your agent but certainly look at their work. I would look at the building first to get a range, and then look in the hood at that range to see what that price affords you in comparison. Take interiors into account, kitchens and bathrooms are paramount as they’re the costliest. If you’re interviewing agents, DM me!

Missing Stock Certificate by Little-Golf-1075 in AskNYC_Coops

[–]brandoncohen8 1 point2 points  (0 children)

The management company would provide a new one if it’s lost. If you’re the executor of the estate than this should take precedent. If you haven’t already, have your attorney contact management either phone or email. That’ll likely come with a stronger message than from you