A significant portion of NYC's residential buildings is cooperatives. Unlike traditional property ownership, when you buy a co-op, you're buying shares in a corporation that owns the building. These shares give you a proprietary lease to a specific unit.
Condominiums are individually owned apartments within a building. Unlike co-ops, when you buy a condo, you own the actual real estate (the unit) rather than shares in the building corporation.
These are multi-story urban homes that are often historic and have distinct architectural details. Brownstones, a type of townhouse, get their name from the brown Triassic-Jurassic sandstone with which they're faced.
Originally commercial or industrial spaces, many lofts have been converted into expansive living spaces, often found in neighborhoods like SoHo, Tribeca, and DUMBO. They feature high ceilings, large windows, and open floor plans.
These are modern apartment buildings with upscale amenities such as doormen, fitness centers, rooftop terraces, and swimming pools. They offer spectacular city views and are prevalent in areas like Midtown Manhattan, the Financial District, and parts of Brooklyn.
In conclusion, NYC's residential landscape is a complex mosaic of property types,
each catering to different preferences, needs, and financial capabilities. Whether
it's the storied history of a brownstone, the communal spirit of co-ops, or the
luxury of high-rises, there's a home for everyone in the Big Apple.
With an international perspective, Arktic Real Estate skillfully assists clients globally, utilizing vast resources and direct involvement to provide customized solutions. Contact them today to find out how they can assist you!
