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United Nation Relocation
 

United Nation Relocation

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    United Nation Relocation United Nation Relocation Document Transcript

    • CORPORATE RELOCATION RELOCATION
    • Table of Contents: 1. TOWN Residential 2. TOWN Corporate Relocation 3. TOWN Concierge 4 TOWN Guides -Rental Guide -Sales Guide -Sellers Guide 5. Real Estate Terminology 6. TOWN Office Locations 7. TOWN Neighborhood Guides -Chelsea -Meatpacking District -Tribeca -Upper West Side -Upper East Side -West Village TOWN
    • TOWN RESIDENTIAL, LLC TOWN’s approach remains comprehensive yet remarkably simple.TOWN’s philosophy devotes equal consideration and resources to sales, new development and rentals while maintaining leadership in all three business areas. We recognize that although every client has a specific set of needs and concerns, TOWN must maintain a common thread in each and every real estate transaction by providing exceptional customer service, ensuring complete transparency of information, progressing acuteneighborhood expertise, and guaranteeing reliable guidance from competent professionals throughout the entire process. Additionally, TOWN continues to embrace every client’s needs and works constantly to satisfy those needs on every level of our business. Founded in 2010 by a dynamic executive team, TOWN has quickly become an integralpart of the New York real estate landscape. Its founding members are a close-knit group of leaders with renowned success and expertise in luxury sales, new development and rentals. Innovative, experienced and built on strong business principals, TOWN is perfectly poised to deliver dramatic results in today’s real estate market. TOWN
    • Paul Macapagal Representative Associate BrokerWorking in sales since age 16, Paul Macapagal always knew he wanted to get into an industry he wouldfind most fulfilling. Since 2006, that has been real estate. In 2005, when he was preparing to buy hisfirst investment property, Paul realized he wanted to understand the New York City real estate marketbetter, so became an agent and loves the job. Now his mission is to help others understand themarket, and make sound decisions based on their needs and finances.Paul is a natural at helping people. Hes also a great negotiator who sees both sides of the picture.Whether you are buying, selling or renting property, youre in excellent hands. "I never lose sight of myclients goals," says Paul, who sets his standards higher than anyone else in the business. "My clientsexpect me to be constantly improving my knowledge and service, so I am constantly retooling myself.Im here to educate and navigate them through the market so they make confident decisions thatensure satisfaction and great value.“ Paul sells and rents luxury condos, coops, townhouses and newdevelopments throughout Manhattan. He is also a listing specialist for owners and landlords, and anexpert in corporate relocation. Paul has accumulated personal experience as an investor aswell, specifically in the furnished rental arena. Hes sold residential and commercial properties, withclients ranging from Fortune 500 executives and Hollywood actors to UN Diplomats and Ambassadorsof Foreign Countries.When representing a property, Paul draws on his broad expertise to accurately price and aggressivelymarket each clients unique home. He also takes full advantage of internet marketing and social mediato generate wide exposure. Pauls command of technology is complemented by his talent forphotography which showcases listings in the very best possible light. "I don’t just show an apartment. Ipresent it with care and meticulous detail."Customer service has always been the backbone of Pauls success. He previously owned severalbusinesses, worked as a professional photographer, and in various sales capacities. This set the stagefor his outstanding record in real estate. Paul sold 16 properties and rented 11 in his first year, and wasranked in the Top 10 percent in the U.S. at his former company.A native New Yorker, Paul studied Finance at Baruch College. He has lived on the Lower East Side, inGramercy, Battery Park City, on the Upper West Side, and currently in Midtown West. His favoritehobbies include photography, motorcycle and auto racing, running, diving and adventure travel. TOWN
    • Presentation For: TOWN
    • TOWN’S CORPORATE RELOCATION DIVISIONSpecifically designed to assist your in-bound executives and employees during the relocation process,Town’s Corporate Relocation Division is dedicated to providing our clients with unparalleled service,discretion and expertise.Our approach is all-encompassing yet remarkably simple: make your employees’ relocation smooth,efficient and hassle-free. Every time.Single Point of Contact: Search for Perfect Home:One contact, one call. And our dedicated team During your home search, you will experienceof Relocation Specialists handle the rest. unparalleled service, while our Relocation Specialist ensures the most efficient use of yourEmployee Status Tracking: time including a car service from your hotel toTown’s Relocation team will provide up-to-the- the various properties that fit your needs.minute status updates as needed by yourdedicated single point of contact, ensuring a Concierge:consistent level of service with every process. Our corporate clients have complete access to our hotel-style Town Concierge service priorPersonal Assessment: to, during and after the relocation. TownYour dedicated Relocation Specialist will Concierge can assist clients with everything fromconduct an initial consultation, which will travel arrangements to hotel accommodations toaddress any specific housing or lifestyle needs dinner reservations and tickets.including potential neighborhoods and thetiming of your move. Settling In Services: Town’s Relocation team will arrange forPre-Search Package: electric, phone and cable to be installed. You willBased on our personal consultation, Town’s have full access to the Town Concierge whichRelocation Specialists will present a customized offers complete settling in services, arranginginformation package including information on everything from establishing utility accounts toneighborhoods and available housing. You will purchasing household items.also have complete, preferred access to ourwebsite where you can peruse every available Follow Up:listing if you desire. Town goes the extra step by contacting all the clients that have used our service to make sure you are settled in and were pleased with Town’s Corporate Relocation program and services. TOWN
    • CONCIERGECONCIERGE
    • TOWN CONCIERGETOWN’s complimentary Concierge membership is powered by New York’s premierelifestyle management and concierge firm, Luxury Attaché. TOWN Concierge understandsthe needs of a discerning clientele and consults to develop a personalized suite of services,exclusive experiences and sophisticated events tailored to preferences and interests. Servicesoffered by Luxury Attaché include but are not limited to:-Premium household cleaning and maintenance-Exceptional packing, moving and home organization-24 hour on-call ground transportation-Weekly floral arrangements, plant and home-garden care-Gift selection and delivery-Dining reservations at the most sought-after restaurants and/or perennial favorites-Interior design services-Private fitness training appointments-Wine collection sourcing, guidance and sommelier service-Child care, family and educational programming-Full in-home or off-site catering and event planning services-Celebrity-chef-hosted dinner and cooking lessons-Premium tickets to theatres, sporting events, concerts…-On-site massage therapists, and salon services TOWN
    • Welcome to TOWN!I am pleased to present our TOWN Concierge moving program available to all TOWN CorporateRelocation clients upon signing or closing. As you dedicated TOWN Concierge, I am available toassist you and your clients with move-in coordination and all lifestyle requests. Please feel free tolean on us!Our partnerships are maintained with the absolute best in every industry in order to provide everynecessary service in a professional, efficient, and timely manner. Whether your move is a monthaway or needs immediate attention, we will work within any timeline to get the job done.Below please find out move-in checklist which will serve as a guide in assisting to prepare for yourmove. If you have any questions, please contact me directly.Kind Regards,Jessica GordonJessica Gordon, Town ConciergeO: 646-300-6000E: jgordon@townrealestate.com TOWN
    • AV Installation 8-weeks prior to move(Suggested Timing only)Lighting Installation yes noTV Installation/Mounting yes noSound system Installation yes no** If you responded yes to any of the above, please confirm the date and Dates(s): ___________________________________time you are available for a free consultation. Time(s) : ___________________________________AV Installation 8-weeks prior to move(Suggested Timing only)Closet Installation yes noShelving/Library yes noWindow Treatment yes noPainting/Trim yes noInterior Design yes noMoving Company Referral(Discounted rate) yes noStorage yes noArt Hanging yes noWine and Home Bar Stocking yes noBaby Proofing yes no** If you responded yes to any of the above, please confirm the date and Dates(s): ___________________________________time you are available for a free consultation. Time(s) : ___________________________________Day to Day Services 2-weeks prior to move ( Suggested Timing only)Dog Walking Days per week: Time of Day:Dry Cleaning/Laundry Service: Weekly/Bi-weekly/MonthlyFresh Flower Delivery Weekly/Bi-weekly/MonthlyHousekeeping Service Weekly/Bi-weekly/MonthlyKitchen Pantry Stocking 2x per week/weekly:Account Set-up 1-week prior to move(Suggested Timing only) Time Warner Cable Verizon Account Manager: Steven Hirschfeld Account Manager: Stacey Joseph Email: Email: stacey.s.joseph@tverizon.comCable/Internet/phone steven.hirschfeld@twcable.com Phone: 212.362.1692 Phone: 212.420.4806 Mobile: 917.628.9409 Cell: 917.593.0136 Account Manager: Kevin Connors Account Manager: Eugene Sonneborn Email: kevin.m.connors@tverizon.com Phone: 212.598.7364 Phone: 212.240.5061 Cell: 718.757.8829 Con Edison Telephone: 1-800-752-6633Con Edison Electric New accounts must be opened by the account holder based on the Con Edison Security Policy. Account may not be set up or changed by a third party. Please call the number listed above to set up your Con Edison account. TOWN
    • GUIDES
    • RENTAL GUIDENew York City is the most exciting and fast paced city in the world. Renting a home here is no different. While there arethousands of apartments, low vacancy rates and a competitive marketplace can make the process daunting if you are notprepared. Whether this is your first time renting or you are a lifelong New Yorker, this step by step guide can help youunderstand what is involved in the rental process and answer any questions that you may have.Where should I live?The first step of renting in Manhattan is deciding where you want to live. Manhattan is made up of vibrantneighborhoods and micro-neighborhoods, each one special and unique. Begin by doing some research into these differentneighborhoods. Ask yourself what is important to you: proximity to transportation, accessibility to parks,a quiet residential neighborhood, bustling nightlife, being close to work?A Town representative can guide you through the process and help you decide what neighborhood is rightfor you. Town has representatives certified in all Manhattan neighborhoods. Therefore, they can offer you valuableknowledge no matter where you want to live.When do I start to look?First decide when you need to move. Do you need to be settled in by a certain date to start a new job? Do you need to beout of your current lease by a certain date? What is your optimal move date?Ideally you should start to look at apartments 30-45 days before you need to be in your new home. Vacantapartments are available immediately and occupied apartments are usually listed 30-45 days prior to vacancy. If you startlooking too soon, the apartments may not be available for your ideal move date.How much rent can I afford?How much rent can I afford?You now need to determine your budget. A general guideline for many New Yorkers is to spend approximately 25%- 35%of their gross annual income on rent. For example, if you earn $100,000 per year, you might end up spending around$25,000 per year in rent, or about $2,000 per month. Landlords generally require prospective tenants to make 40-50 timesthe rent and have a good credit score/rating.Find a representativeOne of the most important steps is finding a knowledgeable and professional representative that can help you through theprocess. There are thousands of apartments in Manhattan and very few vacancies. A real estateprofessional has access to numerous properties you may otherwise not come across and it is important to work withsomeone that can guide you and save you time and money. Search Town’s website to find someone that is the right fit foryou or call our offices and ask to be connected to a representative. Your representative will discuss potential apartmentsthat fit your needs based on neighborhood, size, budget and availability. They will also arrange access to the properties.Once you decide on the perfect home, they will help you secure the apartment. This involves an application process andapproval that varies from landlord to landlord. Time is of the essence and your representative will make sure that you doeverything possible to secure the apartment. TOWN
    • What documentation do I need?• The following documentation for renting an apartment is standard, although landlords may require additional items. Whether you are applying for an apartment in a rental, condo or coop building, you usually will need:• Application: Your Town Representative will give you this form once you have identified a property. Some landlords have their own application and some will use the Town application.• Letter of Employment: This letter should be on company letterhead with a current date. The letter should state job title, length of employment and income. It must be signed by a supervisor or person authorized to verify the information (*please note offer and acceptance letters are usually not sufficient). If self-employed, a letter from a Certified Public Accountant on company letterhead verifying nature of the business and income amount for the last 2 years.• Your 2 most recent pay stubs.• Tax Returns: Most recent tax returns. You only need the 1st page and signature page unless you are applying for a condo or coop, in which case you will need the entire tax return for the board package.• Bank Statements: 2 most recent statements with your name on the statement.• Bank Account #’s: Often required on application forms.• Landlord Reference Letters: This is not always required but can help in the process. If you are unable to obtain a letter, have a contact name, phone number and address readily available.• Additional sources of income: If you receive income from other sources you will be required to verify the income through appropriate paperwork. In addition, if you are expecting a significant bonus, you will need documentation available stating the amount.• Credit report: A credit check will be run by your representative or by the landlord or management company. Credit reports obtained on your own are typically not accepted. Credit history and rating is a significant part of the decision process for a landlord or management company. Let your representative know in advance if you have credit issues so you can discuss options.The WHO, WHAT & WHEN for a GuarantorA guarantor is someone who is willing to co-sign a lease on your behalf. They are responsible for all the terms of the lease. Aguarantor can be a family member or an unrelated individual. However, they do have to qualifyfinancially. In the event, you do not meet the financial or credit requirements, a guarantor is a good option. Most landlordsrequire the guarantor to live in the tri-state area (New York, New Jersey and Connecticut) although there are exceptions.Landlords typically require that guarantors earn a gross income between 75-100 times the monthly rent. For example, if youare renting an apartment that is $3,000/ month, the guarantor will need to make $225,000 per year. They will be required toproduce the same paperwork as a potential tenant.If you think you will require a guarantor, speak with them in advance and confirm they are willing to sign as a guarantor anddisclose their financial information along with the documents necessary to secure a lease. TOWN
    • APPLY for your new NYC homeYou’ve found the perfect apartment. Now what? Your representative will guide you step by step through theapplication process. The first step is to fill out the landlord’s application or a Town application. Your Townrepresentative will advise you of the necessary paperwork required for a specific owner to move forward. You will also berequired to pay credit check fees and applications fees at this time. Once all of the appropriate paperwork is gathered, yourrepresentative will present your information to the landlord and oversee the approval processincluding any negotiations. The rental process moves fast so be prepared.If you are renting in a cooperative (coop) or condominium (condo) you will need to prepare a board package. Please notecoop’s can take 30 days or longer and condos can take several weeks for the waiver of first right of refusal. Speak to yourTown representative about the coop and condo approval process and the specific requirements.SIGN a lease and secure your new NYC homeOnce your application is approved, a lease signing will be scheduled. At this point all funds are due in the form of certifiedchecks. Your representative will advise you on the appropriate fee amounts which, where applicable,typically include the first month’s rent, a security deposit (i.e. one month’s rent or more) and the broker’s fee, all due at thelease signing. TOWN
    • SELLER’S GUIDEBuying a home is a major decision and an exciting experience. Once you know owning a home is the right movefor you, the first step is to seek professional assistance to navigate you through the unique New York City market.When you choose Town to represent you, you are assured the utmost in market expertise, service excellence andindustry resources to make the buying process smooth and seamless. This informative guide will help educate you on what isinvolved in purchasing a home, and will empower you with the knowledge you will need to make a confident decision.At Town, we are committed to guiding you through your search and transaction to make purchasing your New York Cityhome rewarding and stress-free.The Different Forms of Property OwnershipBefore you start looking, it is important to understand the different types of ownership available to purchasers of Manhattanproperty.CooperativeIn Manhattan, cooperatives have been the traditional way to own an upscale apartment for nearly a century, and comprisetwo thirds of all apartments available for purchase. Co-ops are owned by an apartment corporation. When you purchase anapartment in a co-op building, you are buying shares of the corporation that entitle you as a shareholder to a “proprietarylease.” Typically the larger your apartment, the more shares of the corporation you own.Co-op shareholders also pay a monthly maintenance fee to cover building expenses like heat, hot water, insurance, staffsalaries, real estate taxes and the mortgage debt of the building. Portions of the fee are tax deductible; and shareholders candeduct their portion of the building’s real estate taxes.Approval to purchase shares of a co-op must be granted by a board of directors, who also have the authority to determinehow much of the purchase price may be financed and minimum cash requirements. All prospective purchasers must submit a“board package” containing a purchase application, personal and professional letters of recommendation plus detailedinformation on income and assets. The board will also require an interview so they can meet you and ask any questionsregarding the information you provided. They can approve or deny any applicant as they choose.Purchasing a co-op can be intricate, and subletting can be difficult. Each co-op has its own rules and should be consideredcarefully. The specialists at Town are experts in this area and well equipped to help you decide whether a co-op, and whichone, is best for you.CondominiumUnlike a co-op, a condominium apartment is real property, and a purchaser is given a deed as if they were buying a house.The difference between owning a condo and a house is that in addition to owning the apartment, you also own a smallpercentage of the common elements of the building like the halls, stairwells, basement, etc.Each individual apartment in a condominium receives a separate tax bill from the city. There is still a monthly commoncharge similar to the maintenance charges in a co-op, which is paid to the condominium association to pay for such items aspayroll, building maintenance and supplies, management fees, and building repairs. These charges do not include your realestate taxes and are not tax-deductible. They also tend to be lower than inco-ops because there is no underlying mortgage for a condominium building. TOWN
    • The straightforward nature of buying a condo plus the fact that in some cases you can finance up to 90% of the purchaseprice and sublet your apartment at will makes this form of ownership a top choice for flexibility, especially amonginvestors, foreign buyers and parents purchasing for their children.Cond-OpA cond-op is a residential cooperative where the ground floor (typically commercial units) is converted into aseparate condominium that’s either owned by an outside investor or the original building sponsor. So while theresidential units are a co-op, the commercial units are owned as a condominium by an entity other than the co-op. The co-op does not receive the benefit of the income from these units. People often refer to cooperatives that operate undercondominium rules as cond-ops, though this is inaccurate.TownhouseOwning a townhouse provides the owner with a “fee simple” ownership of real property. There are single-familyand multi-family townhouses which can be lived in or rented out at will. In either case, the owner is responsible forpayment of all real estate taxes, maintenance and repairs of the property. The sale of the property may be conveyed to anyparty without prior approval by anyone other than the homeowner.Get Prepared with Your FinancingLearning about financing options and what you can afford before you start looking for a home will save time andstreamline the buying process. Your Town representative will arrange a meeting with a mortgage broker who willanswer your questions about the loan process and determine a comfortable price range. During this early phase of the loanprocess there are two levels of endorsement:Pre-Qualified: Based on the information you provide during your initial conversation with a mortgage broker, you arepotentially qualified for a stated loan amount, assuming full and accurate disclosure.Pre-Approved: You will next provide your mortgage broker with information for a detailed background and financial check(including tax returns, credit check & income history). You’ll then get a letter from the lender stating the amount thelending institution would loan you. This commitment is valid for about 60 days. As a note, most sellers require buyers toprovide a pre-approval letter with an offer letter.Timeline for Buying a HomeNow that you’re ready to start your search, here is a general timeline of events. Obviously the first step is to previewproperties and schedule appointments with a Town agent. Once you decide to make an offer on a home, in most cases itcan take an average of 60 - 120 days to complete the closing process.Prepare the Offer: 1 dayNegotiate the Offer & Acceptance: 2-5 daysLoan Application & Appraisal, Loan Approval and Commitment Letter, Sign Contract/Escrow Deposit: 2-4 weeksCo-op Board Package & Interview/Condo Application: 4-6 weeksBank & Attorney Prep Closing: 1-2 weeksFinal Walk Through: day of closingTransaction Closing: 3 hours TOWN
    • CLOSING COSTSSingle Family Homes and TownhousesFOR THE SELLER FOR THE PURCHASERBroker Fee: MORTGAGE CLOSING COSTSTypically 6%Own Attorney: Consult your attorney Buyer’s Attorney: Consult your attorney Bank Fees: $750NYC Transfer Tax: Application Fee: $350Residential: Processing Fee: $330Up to $500,000 = 1% Appraisal Fee: $300-$1,500 (depending on sales$500,000+ = 1.425% price) Credit Report Fee: $10.10 single/$15.20 jointCommercial: Bank Attorney: $650-$750Up to $500,000 = 1.425% Tax Escrows: 2 to 6 months$500,000+ = 2.625% Recording Fees: $250-$750 Fee Title Insurance: Approx. $450 per $100,000 ofAdmin. Fees: sales price under 1M, +15% on $1M or moreResidential Deed Transfers= $75 Mortgage Title Insurance: Approx. $130 perCommercial Deed Transfers = $165 $100,000NY State Transfer Tax: $4 per $1,000 of price of mortgage amountNYS Equalization Fee: $75 Municipal Search: $350-$500Miscellaneous Title Fees: $200-$500 Mortgage Tax - NYC (paid by borrower):Pick-up / Payoff Fee to Title Closer: $100-$300 1-3 Family Home or Condo: If mortgage is less than $500,000: 1.80%. If mortgage is $500,00 or more: 1.925% of loan amount TOWN
    • CondominiumsFOR THE SELLER FOR THE PURCHASERBroker Fee: Buyers Attorney: Consult your attorneyTypically 6% Bank Fees: $350-$750Own Attorney: Consult your attorney Application Fee: $350Processing Fee: $450+ Processing Fee: $330 Appraisal Fee: $300-$1,500 (depending on salesNYC Transfer Tax: price)Residential: Credit Report Fee: $10.10 single/$15.20 jointUp to $500,000 = 1% Bank Attorney: $650-$750$500,000+ = 1.425% Tax Escrows: 2 to 6 months Recording Fees: $250-$750Commercial: Fee Title Insurance: Approx. $450 per $100,000 ofUp to $500,000 = 1.425% sales price under 1M, +15% on $1M or more$500,000+ = 2.625% Mortgage Title Insurance: Approx. $130 per $100,000 of mortgage amountAdmin. Fees: Municipal Search: $350-$500Residential Deed Transfers= $75 Mansion Tax: 1% of entire purchase where price isCommercial Deed Transfers = $165 $1,000,000 or more.NY State Transfer Tax: $4 per $1,000 of price NYC Mortgage Tax (paid by borrower):NYS Equalization Fee: $75 Mortgage less than $500,000 = 1.80%Pick-up/Payoff Fee: $250-$500 Mortgage $500,000+ on 1-3 family residentialUCC-3 Filing Fee: $100 dwelling = 1.925%Miscellaneous Condominium Charges: Vary by Mortgage on all other property over $500,000.00 =building 2.80%Note: For condominiums in new developments, the ADDITIONAL REAL ESTATE EXPENSESPurchaser will pay costs normally paid by the Seller. Common Charge Adjustment: Pro-rated for theThese include Seller attorney fees as well as NY and month of closingNYC Transfer Taxes. Real Estate Tax Adjustment: Pro-rated depending on when the tax is collected Miscellaneous Condominium Charges: Vary by building Short Term Interest: Equal to interest for balance of month in which you close TOWN
    • CooperativesFOR THE SELLER FOR THE PURCHASERBroker Fee: MORTGAGE CLOSING COSTSTypically 6%Own Attorney: Consult your attorney Buyer’s Attorney: Consult your attorneyCo-op Attorney: $450+ Bank Fees: $350-$750Flip Tax: Typically 1% to 3% of price (if applicable) Application Fee: $350Stock Transfer Tax: $0.05 per share Processing Fee: $330Move-out Deposit/Fee: Varies by building Appraisal Fee: $300-$1,500 (depending on sales price)NYC Transfer Tax: Credit Report Fee: $10.10 single/$15.20 jointResidential: Bank Attorney: $650-$750Up to $500,000 = 1% Lien Search: $250-$350$500,000+ = 1.425% UCC-1 Filing: $100 Mansion Tax: 1% of entire purchase price whereCommercial: price is $1,000,000 or more.Up to $500,000 = 1.425%$500,000+ = 2.625% ADDITIONAL REAL ESTATE EXPENSES Miscellaneous Co-op Charges: Vary by buildingAdmin. Fees: Recognition Agreement Fee: $200+Non-Deed Transfers (i.e., Co-ops) = $50 Maintenance Adjustment: Pro-rated for the month ofResidential Deed Transfers= $75 closingCommercial Deed Transfers = $165 Short Term Interest: Equal to interest for balance ofNY State Transfer Tax: $4 per $1,000 of price month in which you closeNYS Equalization Fee: $75.00Pick-up / Payoff Fee: $250-$500UCC-3 Filing Fee: $100Miscellaneous Coop Charges: Vary by building TOWN
    • SELLER’S GUIDEWhen the time comes to sell your home, Town will put our proven expertise and vast reach to work to attract the mostqualified buyers, achieve the highest price, and make the overall experience smooth and satisfying.Partnering with Town gives you a distinct advantage in the quality of both the service and results you receive. We are notonly industry experts, but marketing executives who know how to best showcase your property and shepherd all facets ofyour transaction to success to get you swiftly to the closing table.An Overview of the Sales ProcessOnce you sign a listing agreement to let Town represent your property exclusively, your representative will work closely withyou from start to finish of the sales process through to closing.Price to SellA well-priced property, based on what the current market will bear, is the first and most important step to a successful saleand to ensuring that you get the best return on your investment. We draw upon our knowledge and conduct extensiveresearch on current market conditions to provide you with a complete market analysis of comparable properties for sale inyour price range, neighborhood and property type category.Customized MarketingOnce pricing is established, Town creates a personalized marketing plan for your unique residence and implements a targetedpromotional campaign to reach the widest possible pool of qualified buyers.Presentation is KeyWe help you prepare your property for viewings to maximize appeal as well as your sale price, and perform professionalstaging, if necessary, to bring out your property’s best features, and showcase it in the best possible light.Getting the Word OutTown immediately spreads the word about your property to the entire New York City brokerage community so they cancome preview it and start showing it to their customers. We also announce the listing directly to well-qualified buyers in NewYork, the U.S. and abroad using our vast database and extensive industry contacts. Our aggressive marketing efforts includeprominently displaying your listing with full-color photographs and a professionally-written description on our highly-trafficked website, in addition to syndicated marketing on some of the most visited search engine real estate and consumersites as well as print advertising and other vehicles.Showing Your HomeWhen your property is ready for showing, Town arranges separate open houses for brokers and for customers which arewidely publicized online and print advertising. We coordinate and oversee all open houses. We also arrange individualshowings for brokers, their customers and ours, with all appointments scheduled at your convenience.Ongoing CommunicationWe will keep you constantly updated on feedback from brokers and their customers, as well as all developments regardingthe sale of your property.Professional ServiceTown representatives have seasoned experience in all areas of your real estate transaction, from bid management to liaisingwith attorneys and keeping all information flowing to ensure a prompt contract signing and closing.Expert Board Package PreparationOur expansive knowledge of building and boards is vital in our ability to assemble and submit and submit surefire boardpackages for approval.Outstanding TalentTown is a unique brokerage comprised of some of the top names and most accomplished talent in the business, from ourfounders and executives down to every one of our sales representatives. We continually outperform with our incomparablehigh level of service, expertise, integrity, professionalism and results. TOWN
    • CLOSING COSTSSingle Family Homes and Townhouses FOR THE SELLER FOR THE PURCHASER Broker Fee: MORTGAGE CLOSING COSTS Typically 6% Own Attorney: Consult your attorney Buyer’s Attorney: Consult your attorney Bank Fees: $750 NYC Transfer Tax: Application Fee: $350 Residential: Processing Fee: $330 Up to $500,000 = 1% Appraisal Fee: $300-$1,500 (depending on sales $500,000+ = 1.425% price) Credit Report Fee: $10.10 single/$15.20 joint Commercial: Up to $500,000 = 1.425% Bank Attorney: $650-$750 $500,000+ = 2.625% Tax Escrows: 2 to 6 months Recording Fees: $250-$750 Admin. Fees: Fee Title Insurance: Approx. $450 per $100,000 of Residential Deed Transfers= $75 sales price under 1M, +15% on $1M or more Commercial Deed Transfers = $165 Mortgage Title Insurance: Approx. $130 per NY State Transfer Tax: $4 per $1,000 of price $100,000 NYS Equalization Fee: $75 of mortgage amount Miscellaneous Title Fees: $200-$500 Municipal Search: $350-$500 Pick-up / Payoff Fee to Title Closer: $100-$300 Mortgage Tax - NYC (paid by borrower): 1-3 Family Home or Condo: If mortgage is less than $500,000: 1.80%. If mortgage is $500,00 or more: 1.925% of loan amount TOWN
    • CondominiumsFOR THE SELLER FOR THE PURCHASERBroker Fee: Buyer’s Attorney: Consult your attorneyTypically 6% Bank Fees: $350-$750Own Attorney: Consult your attorney Application Fee: $350Processing Fee: $450+ Processing Fee: $330 Appraisal Fee: $300-$1,500 (depending on salesNYC Transfer Tax: price)Residential: Credit Report Fee: $10.10 single/$15.20 jointUp to $500,000 = 1% Bank Attorney: $650-$750$500,000+ = 1.425% Tax Escrows: 2 to 6 months Recording Fees: $250-$750Commercial: Fee Title Insurance: Approx. $450 per $100,000 ofUp to $500,000 = 1.425% sales price under 1M, +15% on $1M or more$500,000+ = 2.625% Mortgage Title Insurance: Approx. $130 per $100,000 of mortgage amountAdmin. Fees: Municipal Search: $350-$500Residential Deed Transfers= $75 Mansion Tax: 1% of entire purchase where price isCommercial Deed Transfers = $165 $1,000,000 or more.NY State Transfer Tax: $4 per $1,000 of price NYC Mortgage Tax (paid by borrower):NYS Equalization Fee: $75 Mortgage less than $500,000 = 1.80%Pick-up/Payoff Fee: $250-$500 Mortgage $500,000+ on 1-3 family residentialUCC-3 Filing Fee: $100 dwelling = 1.925%Miscellaneous Condominium Charges: Vary by Mortgage on all other property over $500,000.00 =building 2.80%Note: For condominiums in new developments, the ADDITIONAL REAL ESTATE EXPENSESPurchaser will pay costs normally paid by the Seller. Common Charge Adjustment: Pro-rated for theThese include Seller attorney fees as well as NY and month of closingNYC Transfer Taxes. Real Estate Tax Adjustment: Pro-rated depending on when the tax is collected Miscellaneous Condominium Charges: Vary by building Short Term Interest: Equal to interest for balance of month in which you close TOWN
    • CooperativesFOR THE SELLER FOR THE PURCHASERBroker Fee: MORTGAGE CLOSING COSTSTypically 6%Own Attorney: Consult your attorney Buyer’s Attorney: Consult your attorneyCo-op Attorney: $450+ Bank Fees: $350-$750Flip Tax: Typically 1% to 3% of price (if applicable) Application Fee: $350Stock Transfer Tax: $0.05 per share Processing Fee: $330Move-out Deposit/Fee: Varies by building Appraisal Fee: $300-$1,500 (depending on sales price)NYC Transfer Tax: Credit Report Fee: $10.10 single/$15.20 jointResidential: Bank Attorney: $650-$750Up to $500,000 = 1% Lien Search: $250-$350$500,000+ = 1.425% UCC-1 Filing: $100 Mansion Tax: 1% of entire purchase price whereCommercial: price is $1,000,000 or more.Up to $500,000 = 1.425%$500,000+ = 2.625% ADDITIONAL REAL ESTATE EXPENSES Miscellaneous Co-op Charges: Vary by buildingAdmin. Fees: Recognition Agreement Fee: $200+Non-Deed Transfers (i.e., Co-ops) = $50 Maintenance Adjustment: Pro-rated for the month ofResidential Deed Transfers= $75 closingCommercial Deed Transfers = $165 Short Term Interest: Equal to interest for balance ofNY State Transfer Tax: $4 per $1,000 of price month in which you closeNYS Equalization Fee: $75.00Pick-up / Payoff Fee: $250-$500UCC-3 Filing Fee: $100Miscellaneous Coop Charges: Vary by building TOWN
    • REAL ESTATE TERMINOLOGY TERMINOLOGY
    • New York City Real Estate GlossaryAbstract of Title - A historical summary of the recorded instruments and proceedings on the title of a property.Air Rights - The right to use or control the space above a property. Air Rights can also be sold, rented or leased to anotherparty.Amenities - The benefits from home ownership, such as a feature that enhances value.Appraisal - An estimate of the value of the property. One may have an appraisal to determine the offering price during asale.Assignment - The process by which a right or contract is transferred from one party to another. Assigned contracts includemortgages, leases and deeds of trust.Broker - A state licensed sales agent who acts for property owners and prospective purchasers in Real Estate transactions.Brownstone - A 19th century house which shares a common wall with the neighboring property.Building Amenities - The assets that buildings offer its owners or tenants. These can include a doorman, health club, club,garage etc.Building Restrictions - Requirements in building codes that affect the size and appearance of the building.Capital Expenditure - An improvement that will have a life of one year or more and will increase the value of the property.Certificate of Occupancy - In New York City, each building is required to have a Certificate of Occupancy which permitsthe structure to be occupied by members of the public. This means that the building is in compliance to health and buildingcodes.Closing - The transfer of ownership of a property from the seller to the buyer according to the sales contract.Co-Broke - This is the term used when a broker sends out their listing to other brokers and other firms. The brokeragecommunity then receives the listings and the commission will now be split evenly between the seller’s broker and the firmthat provides the buyer of the property.Combination - Refers to when an owner combines two adjoining apartments into one to enhance the value and the space.Commission - Payment to the broker for his or her efforts on marketing and selling the property it is usually a percentageof the total purchase price.Commission Split - The sharing of commissions between the listing agent and the broker of the buyer.Common Area - The area on the property or in the building that is available for use to all owners and tenants.Comparables - Used in assessing or establishing the fair market value of a property, a property which has been sold recentlythat is similar in size, condition, location and amenities.Condominium - A building where individuals own individual units but share common areas with the other unit owners ofthe building. A more liberal type of ownership than Coops, Condominiums also have more lenient policies regardingsubletting and pets. TOWN
    • New York City Real Estate GlossaryContract - A legally binding agreement between two parties. To have a valid contract for the sale of Real Estate theremust be: • an offer • an acceptance • competent parties • consideration • legal purpose • written documentation • description of the property • signatures of the principalsConversion - Property changing to a different form of ownership, such as a condominium to a cooperative or acommercial building to a residential building.Convertible - A one or two bedroom apartment that has space to make another bedroom. The other bedroom can bemade with the construction of a wall; however, the new bedroom must have a window in order for it to be legal.Deed - A written document by which title of property is expressed from one party to another.Duplex Apartment - An apartment that has two levels.Escrow - A state where consideration, benefits, legal rights, money, documents or other valuables are transferred toanother party in advance of that party’s legal claim to them, on the basis that the legal claim will arise at a given point inthe future. It is a form of trust.Estate - The word used to describe the collection of all assets of a deceased person. Also, the extent of interest a personhas in real property.Estate for Life - The interest of real property that ends with the death of a person.Excellent Condition - This is used to describe the condition of the apartment; mint is another word for excellentmeaning the apartment is in great shape.Exclusive Listing - A contract whereby the owner of a property grants a single broker the right to market the propertyfor sale.Facade - The exterior front wall of a building.Financing - Borrowing money to purchase a property.Firm Price - An asking price for a property that is not open for negotiation.Fixed-Rate Mortgage - A loan where the interest rate remains constant over the entire term of the loan.Flip Tax - Tax imposed on the cooperative apartment by the cooperative, this tax can either be paid by the seller orpurchaser and is usually a percentage of the purchase price.Floating Rate - A loan where the interest rate is not fixed over the term but is allowed to vary according to the change ina specified index. TOWN
    • New York City Real Estate GlossaryFloor Plan - A scale diagram of the arrangement of rooms and their sizes drawn by an architect.Foreclosure - An enforcement process in which the lender under a defaulted mortgage takes title to the property for thepurposes of selling it to recoup moneys owed under the mortgage.Full Bath - A bathroom with a bath or a shower.Grandfather Clause - If a new law is passed or an old is changed those people whose activity was legal under theprevious law are allowed to continue because of this condition. This law is common with pets; some buildings that donot allow pets now, did in past, therefore, those owners are allowed to keep their pets.Half Bath - A bathroom without a bath or a shower.Interest Rates - The cost of borrowing money from a lender. Rates change over time and are set by the Federal Reserve.Lease - A written agreement to rent a property or part of a property from the owner.Lien - A legal claim against property for money owed.Listing - The agreement that allows a real estate professional to market a property. Available apartments are also referredto as listings.Loft - A loft refers to open living space that was converted from commercial space to residential space. Lofts containvery high ceilings, large windows and open space. In New York City, most lofts and converted commercial space islocated downtown.Lot - A measured section of land.Maintenance - Monthly charges paid by the owner or tenant of a cooperative building for that person’s share of costs ofkeeping the common-use portions of the building in good condition. This includes the daily cost to operate the buildingand it is calculated based on each individual unit.Managing Agent - An independent company that is hired to manage a property. In New York City, most of thecooperative and condominium buildings are managed by a company which is responsible for the building operations.Market Value - An estimation of the price for a property in relation to the current real estate market.Mortgage - Money borrowed from a lender in order to purchase a piece of property. Mortgages vary in terms of lengthas well interest rates.Negotiation - The process of discussing an issue between two parties who are working towards the same goal. Successfulnegotiation usually leads to a contract and then a sale.Notarize - To verify the authenticity of a signature by a certified Notary Public.Offer - An expression of the desire to purchase a property at a specific price. Once an offer is made and then accepted itleads to the purchase of the property. TOWN
    • New York City Real Estate GlossaryOffer Accepted - The term refers to when the owner of the property agrees and accepts the offer and terms of thepurchaser.Open House - A specified time when a property that is for sale is advertised by opening its doors to prospective buyers.A broker advertises an open house to help the sale of the property.Open Listing - A listing where the owner of the property hires more than one broker and only pays commission to theone that provides the purchaser.Ordinance - A law enacted by the local government.Penthouse - A luxury apartment in a high rise building.Pied a Terre - A French term that refers to an apartment that is not the primary residence of the owner. A Pied a Terre isused when a person lives in another location and comes to New York several times a month or a few weeks a year toeither work or enjoy this great city.Post War - A post war building is one that was built after World War II.Pre War - A pre war building is one that was built before World War II. Common characteristics of a pre war apartmentare fireplaces, moldings and hardwood floors.Property Tax - The tax issued on the ownership of property.Points - A charge levied by the lender on the borrower for the mortgage for prepaid interest. Each point is equal to 1%of the principal of the mortgage.Powder Room - Also known as a half bath. A powder room is a bathroom without a shower or a bath.Quadraplex - An apartment that has four levels.Referral - A recommendation made to a client about the services of a particular agent or firm.Rental Building - A building where the apartments are only rented and not sold.Rent Control - Laws that regulate the amount of money that is charged to rent out space.Reserve Fund - An account reserved to provide funds for future expenses in order to maintain the cooperative orcondominium building.Sale Price - The amount of money paid by the purchaser to the seller. Also known as the purchase price.Security Deposit - A payment required by a landlord to guarantee that the tenant meets his or her obligations under thelease and to guard against any potential damages that may be incurred during the term of the lease.Shares - When one purchases an apartment in a cooperative building he or she is actually purchasing the shares in thecooperative. They represent the proportion of the building owned by the unit owner based on the size and value of theapartment. TOWN
    • New York City Real Estate GlossarySquare Footage - The area measured in square feet of a certain property. Square footage can be measured in differentways and is usually considered approximate. Condominium apartments have specific laws that determine the way whichthe apartment is measured therefore condominium measurements are more accurate.Sublet - The term used when an owner of an apartment decides to rent the apartment to a tenant.Tax Deductible - An expense that reduces taxable income. Each year, shareholders in cooperatives apartments are ableto deduct a certain amount from their personal taxes. The amount is determined by the amount of shares that areowned.Term - A specified period of time.Term, Amortization - The term in which the interest and principal payments of a loan must be made.Title - The legal term for the evidence that the owner is in lawful possession of the land and property.Townhouse - A townhouse is a private residence where at least one wall is shared with another residence. In New YorkCity, townhouses are a very popular and a more private way of living.Triple Mint - Refers to the condition of the residence. Triple mint condition means that the residence is in immaculatecondition.Triplex - An apartment that has three levels.Unit - A single residence within a building.Utilities - Services such as water, gas, electricity, telephone and television. Utilities in some buildings throughout the cityare included in the maintenance charges.Vacate - To move out and leave the property.Walk Up Building - A building that does not have an elevator. Most walk up buildings are four to six floors.Walk Through Inspection - The inspection of a property immediately before the closing to ensure that the property doesnot have any new damages. TOWN
    • OFFICE LOCATIONS LOCATIONS
    • TOWN
    • SERVICE, ONE-STEP FURTHER Our Corporate Relocation Specialists’ job does not end after matching your employees with their perfectproperty. Post-relocation, we go the extra step by contacting each and every client to ensure that their transition has been smooth and their needs exceeded. Our approach is all-encompassing yet remarkably simple: make your employees’ relocation smooth, efficient and hassle-free. Every time. Paul Macapagal 110 Fifth Ave 6th Floor New York, NY 10010