Fernando Branco, Real Estate Broker
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Fernando Branco Realty - 162 Huntington St, Brooklyn NY 11231
Looking for the best deal in New York City? As an active member of New York Online Residential (OLR), I can help you.
I also help Brazilians relocate to Manhattan, New York!
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I will post interesting news, helpful information, comments, videos, and more about the current Real Estate markets of Manhattan, and Brooklyn, NY.
$48M Plaza condo buy sets new city record
There's a new record in town. Russian composer Igor Krutoy has closed on the 6,000-square-foot Plaza Hotel condominium he chose last month after an epic search for Manhattan trophy apartments, and according to the Post, he paid $48 million for the 12th-floor pad. That's the priciest single condo ever sold in New York -- and the musician isn't even getting the whole floor in the deal. As the Wall Street Journal reported when the contract was signed, Krutoy and his wife, Olga, had been making offers on all the big-ticket condos in the city -- including the $55 million, two-unit combo at 15 Central Park West and equally stunning listings at the Time Warner Center -- before settling on the Plaza spread, which has views of Central Park but wasn't officially on the market. The couple apparently grew tired of losing out to higher bidders, which is why they were willing to pony up the cash for the 1 Central Park South home, sources told the Post.
April Market Reports: 3 Important Takeaways to Share With Your Clients May 30, 2019 OVER 1,000 MANHATTAN HOMES ENTERED CONTRACT IN APRIL. According to the StreetEasy April 2019 Market Reports, the New York City sales market may be strengthening. This news comes after months of weakening prices across the city, rising share of price cuts and growing days on market. Read on for three takeaways from our most recent report that will offer you and your seller encouraging signs. Nearly 1,200 Homes Entered Contract in Manhattan This April The context: The number of pending sales in Manhattan rose by 26.6% year-over-year to 1,193 in April. That marks an annual increase of more than 250 and the most homes to enter contract since 2015. Upper Manhattan saw a lot of contact activity with pending sales doubling to 132 from 66 the year before. Washington Heights and Central Harlem led the charge with 53 and 29 homes entering contract, up by 104% and 53%, respectively. The takeaway: M
February 18, 2016 Q: I am a licensed real estate salesperson and I am representing a purchaser who is considering a co-op apartment in a building that has a Ground Lease. Can you please clarify exactly what a Ground Lease is? Also, are there any particular considerations that should be made before purchasing a co-op apartment in a building that has a Ground Lease? A: If a co-op building has a Ground Lease (also known as a Land Lease) it means that the co-op corporation does not own the land under the building. Rather, the co-op corporation leases the land from the owner of the land. About 100 buildings in Manhattan have Ground Leases, many of which are co-ops. Generally the terms of Ground Leases are quite long, varying from terms of 50 to 99 years. Several important considerations should be made before purchasing a co-op apartment in a building with a Ground Lease: Can the rent payable by the co-op corporation increase during the term of the Ground Lease? If the re