Condo vs Apartment | Manhattan Real Estate For Sale

Posted by


thank you for coming today you all look
great and I’m so happy to see all your smiling faces my name is Brad Christi
the channel is Manhattan real estate for sale and you could contact me at
Manhattan real estate for sale com I want to introduce you to my client Harry
Harry meet the world world meet Harry he wants to buy a property in Manhattan but
he doesn’t know the difference between a condo and an apartment so let’s break
down what the difference is between a condo and an apartment a condominium is
a form of ownership unit owners in a condominium have an undivided interest
in the physical components of both the land and the building as well as
individual title to the space inside the unit just like the terms townhouse and
garden home apartment describes the construction design and layout of a
particular property therefore the terms condo and apartment should not be used
in the same context because unlike apartment a condo cannot be recognized
by observing the property itself and that really does make sense considering
that only 30% of apartment buildings in Manhattan are condominiums so I know
you’re probably wondering how do you know how much percentage of common
interest you own it’s all in the condo declaration the condo declaration is a
legal document that specifies the condominium rules and form of ownership
that’s filed with the Attorney General for the state when you go into contract
on a condo you’ll get a copy of this however there are some juicy bits that
can really help you out before you go into contract examples of what I’m
talking about pertain to pets use of the commercial space use of the private
outdoor space and also the percentage of common interests that you have in the
building so that’s the difference between a condo and an apartment so
Harry did you learn anything today great well I hope you guys did too and if you
found this video informative smash that thumbs up finger please subscribe to my
channel if you haven’t already and you could contact me at Manhattan real
estate for sale calm my name is Brad Christe and I hope you have a wonderful
all day

5 comments

  1. If I was buying airline tickets I would have said airline ticket , what is the product that you are advertising

Leave a Reply

Your email address will not be published. Required fields are marked *