what is a condo: What is a Condo you ask? - 03/02/08 07:14 AM
While condominiums are quite common throughout the country, they are a rather new concept for New York City. A condominium apartment in Manhattan is real property. The buyer gets a deed just as if he were buying a house. Since this is real property, there is a separate tax lot for each apartment. Hence, this meansthe buyer pays his own real estate taxes for the property. An owner will also pay common charges on a monthly basis. Common charges are similar to maintenance in a cooperative. However, they will not include real estate taxes since these are paid separately, nor will … (0 comments)

Paul Macapagal, NYC Sales Expert (Town Residential)

Paul Macapagal

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