Friday, December 28, 2018

New Years!! Fireworks! Street Closures... 942 New Tower in Brooklyn... Historic Clinton Hill Carriage House... and more...

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Here are your New Year’s Eve street closures for Times Square
Everything you need to know about the ball drop
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Where to watch New Year’s Eve fireworks in NYCFour alternatives to spending New Year’s Eve in Times Square or stuck at home.

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Downtown Brooklyn may sprout 942-foot towerThe development as planned would be the densest in Brooklyn.

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Historic Clinton Hill carriage house with massive backyard wants $3.4M
The three-level home, located at 314 Waverly Avenue, could use a modern makeover, but there’s plenty to work with.

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4 open houses in Clinton Hill to check out this weekendIf your’e looking to buy in the neighborhood, here’s a few places worth considering

Here are your New Year’s Eve street closures for Times Square
Everything you need to know about the ball drop

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Everything you need to know about getting around NYC this New Year’s weekend
Major changes coming to New York’s streets, subways, buses, and more

THINKING ABOUT SELLING AND/OR BUYING IN NYC?

CALL / EMAIL ME! I'M HERE FOR ALL YOUR REAL ESTATE NEEDS!
C: 212-321-0115
E: NYCTREALTY@GMAIL.COM

Fernando Branco, GRI, ABR, CNE
Lic. Assoc. Real Estate Broker
Residential Real Estate
Commercial Sales & Leasing 
Graduate Realtor Institute (GRI) 
Accredited Buyer Representative (ABR) 
Certified Negotiator Expert (CNE)
R New York
641 Lexington Ave, NY NY  10022
c: (212) 321-0115

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Tuesday, December 25, 2018

The Most Beautiful / The Most Expensive / Best Architecture / $82M 432 Park's 95th Floor Now Split in Two / $39.5M CPS Ritz Carlton

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The most beautiful NYC homes of 2018

When it came to beautiful listings this year, New York City did not disappoint. From celebrity homes to historic townhouses to opulent penthouses, these are the 10 homes that made us say "wow!" in 2018.

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NYC’s best new architecture of 2018
Take a trip through the year in architecture
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432 Park’s 95th-floor penthouse now split into two $41M listingsThe 95th-floor penthouse first appeared in 2016, asking $82 million; now, it's returned as two apartments.
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Billionaire producer Sidney Kimmel lists expansive Central Park South spread
Billionaire philanthropist and film producer Sidney Kimmel, who cultivated his fortune as the founder of Jones Apparel Group, has listed his full-floor apartment at the Ritz Carlton Residences on Central Park South for $39.5 million
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NYC’s 20 most expensive homes sold in 2018Unsurprisingly, every single home on this list is in Manhattan.


THINKING ABOUT SELLING AND/OR BUYING IN NYC?

CALL / EMAIL ME! I'M HERE FOR ALL YOUR REAL ESTATE NEEDS!

C: 212-321-0115
E: NYCTREALTY@GMAIL.COM

Fernando Branco, GRI, ABR, CNE
Lic. Assoc. Real Estate Broker
Residential Real Estate
Commercial Sales & Leasing 
Graduate Realtor Institute (GRI) 
Accredited Buyer Representative (ABR) 
Certified Negotiator Expert (CNE)
R New York
641 Lexington Ave, NY NY  10022

c: (212) 321-0115

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Working by referral. Let me help you find a home too!!

Saturday, December 15, 2018

$8M Chelsea Townhouse / Playwright Edward Albee's Tribeca $9M Pad / $43M Park Ave's Coops / Downtown Brooklyn...


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Chelsea townhouse with 8 working fireplaces wants $8M
A red brick three-family townhouse along West 22nd Street, between Ninth and Tenth Avenues is asking $7.995 million. The 4,090-square-foot home spans five floors and offers a total of eight bedrooms, five bathrooms, and eight fireplaces throughout

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Playwright Edward Albee’s longtime Tribeca apartment seeks $9M
The award-winning writer of plays like Who’s Afraid of Virginia Woolf? and A Delicate Balance moved to a loft in a converted cheese factory on Harrison Street in 1977, and kept the apartment until his death in 2016. Now, that apartment is hitting the market for the first time
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Opulent Park Avenue co-ops seeking $43M can be recombined to former glory
Two grand Upper East Side co-ops are being put on the market in tandem with the hope that a buyer will nab both and return them to their unified duplex glory. The co-ops at the posh Rosario Candela-designed 720 Park Avenue, built as a single massive duplex, were formerly occupied by Jesse Isidor Straus, the heir of R.H. Macy & Co
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Downtown Brooklyn tops StreetEasy’s list of 2019 neighborhoods to watchThe neighborhood’s access to transit and cushy amenity-laden buildings are winning North Brooklyn defectors over.

THINKING ABOUT SELLING AND/OR BUYING IN NYC?

CALL / EMAIL ME! I'M HERE FOR ALL YOUR REAL ESTATE NEEDS!

C: 212-321-0115
E: NYCTREALTY@GMAIL.COM

Fernando Branco, GRI, ABR, CNE
Lic. Assoc. Real Estate Broker
Residential Real Estate
Commercial Sales & Leasing 
Graduate Realtor Institute (GRI) 
Accredited Buyer Representative (ABR) 
Certified Negotiator Expert (CNE)
R New York
641 Lexington Ave, NY NY  10022

c: (212) 321-0115

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Monday, December 10, 2018

Legal Line Question: FinCEN, GTO and "All Cash" Transactions

Legal Line Question: FinCEN, GTO and "All Cash" Transactions


Q: Can you please explain what FinCEN and GTO stand for and how they affect transactions where the purchaser is not using a lender, but rather is paying  “all cash” to purchase the property?
A: The Financial Crimes Enforcement Network (“FinCEN”) is a bureau of the U.S. Department of the Treasury.  It’s mission is, in part, to safeguard the U.S. financial systems from illicit use and to combat money laundering. 
FinCEN has the authority to issue orders that impose recordkeeping and reporting requirements on institutions in particular geographic areas.  These orders are referred to as Geographic Targeting Orders (“GTO”).
The most recent GTO (the “Revised GTO”) announced by FinCEN is a renewed and revised version of a GTO that requires title insurance companies to identify the persons behind entities that purchase residential real estate in certain geographic areas without a bank loan.  For example, a title company must complete a report that identifies the persons who are the beneficial owners of a Limited Liability Company (“LLC”) that purchases a property for $2,000,000 in Staten Island without a bank loan.
The Revised GTO covers transactions (“Covered Transactions”) in which: (1) residential real property is purchased by a “Legal Entity;” (2) the purchase price is $300,000 or more; (3) the real property is located in the Boroughs of Brooklyn, Queens, Bronx, Staten Island, or Manhattan (as well as other geographical locations across the United States); (4) the purchase is made without a bank loan; and (5) the purchase is made, at least in part, using currency or a cashier’s check, a certified check, a traveler’s check, a personal check, a business check, a money order, a funds transfer, or virtual currency. A “Legal Entity” is defined under the Revised GTO as a corporation, LLC, partnership or other similar business entity, whether formed under the laws of a state, or of the United States, or a foreign jurisdiction.  Included in the definition of residential real property are individual condominium units and cooperative apartments.
If a transaction is a Covered Transaction, the title insurance company must complete a Currency Transaction Report (“CTR”) and deliver it to FinCEN within thirty days (30) of the closing. The CTR will contain, among other things, the identity of the person primarily responsible for representing the Legal Entity (i.e. the person authorized to bind the Legal Entity), the identity of any beneficial owner who directly or indirectly owns more than 25% of the Legal Entity, the date of the closing , the address of the property and the total purchase price of the property.
Important Tip: The Revised GTO became effective on November 17, 2018 and ends on May 15, 2019.
The Legal Line Question by:
Neil B. Garfinkel
REBNY Broker Counsel

Partner-in-charge of real estate and banking practices at Abrams Garfinkel Margolis Bergson, LLP


THINKING ABOUT SELLING AND/OR BUYING IN NYC?

CALL / EMAIL ME! I'M HERE FOR ALL YOUR REAL ESTATE NEEDS!

C: 212-321-0115
E: NYCTREALTY@GMAIL.COM

Fernando Branco, GRI, ABR, CNE
Lic. Assoc. Real Estate Broker
Residential Real Estate
Commercial Sales & Leasing 
Graduate Realtor Institute (GRI) 
Accredited Buyer Representative (ABR) 
Certified Negotiator Expert (CNE)
R New York
641 Lexington Ave, NY NY  10022

c: (212) 321-0115

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