Usually condo buyers have two options: either buy an “old condominium”, i.e. secondhand (usually buying from an individual owner) or a “new condo”, i.e., sponsor unit (buying directly from the developer). Real Estate Taxes If you are buying a sponsor unit, the condition of the unit is usually brand new, unless the sponsor rented it […]
May 22, 2014 By
3 Tips Regarding Tax Abatement for Newly Constructed Condominiums
Story: Kenneth is a young professional. He’s looking to buy a condominium with tax abatement, so that he can afford to pay the mortgage without paying too much in real estate taxes. In New York City, new construction condos built in certain areas are qualified to benefit from 421a tax exemption (for details check out […]
