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7 beds / 3.5 baths
73 EAST 118 STREET
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330 EAST 49 STREET - TH1
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Highline Blog
Blog Image for New York State Increases Transfer Taxes
by Highline Residential
Yes, it's true. New York State has instituted increases to the New York State Transfer Tax as well as the "Mansion Tax." First, let's remember that these increases are a much-needed revenue-raising mechanism for the Metropolitan Transportation Authority. Second, legislators originally considered a pied-a-terre tax, which would have affected anyone who owns an apartment in New York City but has their primary residence somewhere else. Fortunately, they decided against that and the real estate industry was pleased; because we don't want to discourage people from buying second homes in NYC. While the New York State Transfer Tax applies to all sellers of real estate and cooperative apartments in New York State, the increases recently instituted only apply to transfers within New York City (or any other cities within New York State with populations of 1 million or more). The Additional New York State Transfer Tax, which is known as the "Mansion Tax," applies to purchasers of real estate and cooperative apartments with a sale price of $1 million or more, on a sliding scale. I can't wait to see what the MTA does with the money to make our lives better! Please use Highline Residential's CLOSING COST CALCULATOR to easily estimate what your closing costs will be on your transaction! See you at the closing! Posted by Highline Residential's Sales Manager, Stacey Max. Find Stacey on Facebook.
Default Blog Image for Home Updates That Are Resale-Friendly
by Highline Residential
If you are thinking about making some changes around the house, consider renovations that will help increase the resale value of your home. Even if you're not looking to sell right away, certain home improvements can still be worth the effort. Small changes over time are more manageable than doing a complete overhaul right before you put it on the market. Here are a few things you can do to boost the value of your home as well as your enjoyment of it. 1. Replace your carpet with wood floors. According to Realtor.com, "The top request of home buyers and renters when looking for a home is hardwood floors." They are easier to keep clean when kids and pets are in the mix, and make a house feel cozier due to their warm color. 2. Make upgrades in the kitchen. Popular kitchen updates include adding a tile backsplash, farmhouse sink, pendant lighting, and other high-end finishes, such as new cabinet handles. Elevating your countertops by replacing them with either stone or granite is far and away the most effective way to upgrade your kitchen, and because this project typically runs between $1,651- $4,086 in New York City, it can be a surprisingly affordable way to increase your ROI. 3. Repaint. A fresh coat of paint can often give the illusion of a cleaner, more spacious and all around newer home, and sets the stage for decor. Opt for neutral colors that are soft or muted, and stay away from darker bold colors. Consider sticking to basics and white trim. You can even br...
Default Blog Image for The Ultimate Guide to Rental Property Maintenance for Tenants
by Highline Residential
A common misconception that runs rampant in the housing industry is that property maintenance is an affair reserved for landlords. As a result, we have seen many instances where a landlord complains that a tenant has left a trail of destruction in the house and is not willing to offer compensation. Although the security deposit fee is set aside to meet these requirements, at times it is not enough to cover all the costs of damages. The Fair Housing Act makes it perfectly clear that there are maintenance requirements from both landlords and tenants. The main obligation of the landlord is to provide a habitable dwelling for the tenant, which includes repairing damages caused by wear and tear. On the other hand, the Act requires the tenant to clean and tidy the property and also provide repairs for damages not caused by natural causes. For instance, if the damages are as a result of tenant negligence or deliberate destruction, then they are required by law to meet all the costs of repair/replacement. Here is the ultimate guide to rental property maintenance for tenants. Tenant Maintenance Responsibilities The main requirement of tenants as outlined by most state laws is to keep the house in a clean and habitable condition. Major repairs involving natural wear and tear of the property are shouldered by the landlord. Tenants on the other hand are mandated to assume charges of damages caused by daily usage of the property and also to ensure the property is maintained at almo...
Blog Image for Clean Your Closet and Make Some Cash With the Second-Hand Economy
by Highline Residential
One of the biggest trends you hear about today is getting into the gig economy. Having a side hustle can be a great opportunity, but another trend for making extra money is to sell old household items through the second-hand economy. Participating in the second-hand economy has numerous benefits. Besides turning your old stuff into cash, reselling is also more sustainable for the planet. After all, those old clothes you no longer wear are doing more good in someone else's closet than sitting in a landfill. What Can You Sell? You can resell just about anything, but some items are easier to sell and command a better price than others. One of the main benefits of the second-hand economy (besides the cash) is that it helps clear out space in your home. So, if you aren't sure where to start, think about where in your home you can declutter. Go through closets, storage boxes, and shelves with a critical eye to decide what you no longer need. According to Gumtree, some of the most common items to sell include clothing, books, music, games, toys, and electronics. Many people focus on larger things such as furniture when they think about resale, but don't discount smaller items. Selling little things like clothing and books adds up when you stick with it. How Much Can You Make? The amount you make will vary depending on how much you have to sell and the value of the items. Pricing your items right is one of the trickiest parts of selling. With resale, unless an item is ...