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The Difference Between a Condominium and a Cooperative

by Kijner & Sons International Realty





Many people looking to buy a property in New York City are often debating between investing in a condominium or a cooperative. But what is the difference? Before choosing on one over the other, let's review their definition, your ownership rights and what every buyer should know before acquiring such properties.

What is a condominium

A condominium is a real property transaction where ownership rights are fee simple, that is, the broadest form of ownership available. You are allowed to you to use and possess your property and you may own your condo in any form you wish (in severalty, as joint tenancy, as tenants in commons or tenants by the entirety).

With a condominium you own real estate - the space inside the unit - and you share in the ownership of the common elements such as the swimming pool, the walkways or the garage. As such, you will receive a deed to your unit that will include an undivided interest in the common areas. You can learn more about your rights in the condominium bylaws. Subletting is possible with some restrictions depending on the condominium building.

What is a cooperative or co-op?

With a co-op, you own share in a cooperative's corporation, which is not real property but personal property. Since you do not own any real estate, you do not have fee simple ownership rights. You own shares which reflect equity in the corporation and instead of a deed, you will receive a proprietary lease and stock certificates.

A cooperative is a not-for-profit corporation, a joint venture with its shareholders, formed for their benefit and governed by them. As such, the cooperative is the one owning the land, the building and all rights and interests. In short, you have a right to occupy your unit and use the common areas and facilities. And of course, unlike with buying a condo unit, we will need to submit a thorough application known as a board package that is unique to each co-op. This package will be reviewed, approved or denied by the co-op board based on a variety of personal and financial documents including but not limited to your purchase application, a contract of sale, employer and personal reference letters, your income tax returns, a financial statement listing assets and liabilities...Finally, subletting is much more restricted and is some occasions, not allowed.  

What is a Condop?

Some of you might have heard of a hybrid between a condominium and a cooperative known as Condops? What is it you ask? 

A condop is a mix-used building where the residential portion (co-op) is separate from the commercial component (condo). This form of property is appealing to many developers or sellers for tax reasons. They retain ownership of the non-residential space in the building that they use for commercial purpose. In a condop, a buyer will receive co-op corporation share and a proprietary lease. Condops are usually based on the 80/20 rule where 80% of the building is used for residential purpose and the remaining 20%, for commercial purpose.

Do you have additional questions? Are you looking to buy a condominium or a cooperative unit in New York City? Contact our Manhattan office today at nyc@kijner.com

Storage in a smaller home

by Kijner & Sons International Realty

While “tiny houses” take storage planning to an extreme, your typical smaller home still needs accessible, well-planned storage to make it both efficient and livable. Making better use of existing space is a leading trend in home design and usage patterns throughout the home in both remodeling and new construction.

Most people use a back or garage entrance to the home rather than the front door. It’s a great idea for these entryways to incorporate “drop zones”, where everyone can unload their backpacks, shoes, bags, sports gear, and outerwear. Baskets under benches provide both seating and storage. Some drop zones incorporate a dedicated shelf or cubby for each family member’s gear. A tray or shallow box for mail keeps it visible but doesn’t let it pile up too high. As a high-traffic area, a drop zone should be well organized and systematic in order to really work. If one system doesn’t quite function well for a particular family, it will always be best to try another arrangement until settling on one that really works.

Home offices are another area where storage is at a premium as functionality changes. These spaces are often used not only as an office, but for homework, projects, and more. Effective, multi-purpose closet storage can be accomplished by replacing hanging rods with shelving and drawers. A dresser can be repurposed to store project materials for easy access. With multiple users, this multi-function room, like the drop zone, needs to have a workable system that everyone can follow.

In the kitchen, pantry space has become more important as more people cook and eat at home. In large homes, a pantry might be a separate room with plenty of space for storing everything from china to dog kibble. Newly popular smaller homes, generally with smaller kitchens, need to at least accommodate kitchen staples and larger, bulky items that aren’t often used such a large mixing bowls, seldom-used small appliances, and serving pieces. Pantry shelving for food items should be relatively shallow so that everything is easy to find and reach. This type of shelving can even be added to a niche in the wall between two studs.

Smaller homes aren’t going away, and continue to be popular as starter homes and with downsizers. But with efficient, practical storage solutions, even a smaller home can accommodate the needs of almost any family. 

Are you looking to sell or buy a house, a condo, a villa or an apartment in Miami Florida or New York City? Do not hesitate to contact us at info@kijner.com or visit us at www.kijner.com

The Vacation-Smart Home

by Kijner & Sons International Realty

As summer gets into full swing, it makes sense to review some simple but important steps you should take to secure your home while you head off for a well-deserved vacation. Amidst all of the decisions about where to go, where to stay, and what to do when you get there, taking some time to plan for leaving your home safe and secure will give you added peace of mind while you’re enjoying your free time.

Here are some useful reminders and tips for protecting your home while you’re away:

  • Make your home appear occupied by using timers on a few lights throughout the house, scheduling them to turn off and on at various times after dark. You can also use a timer on a radio to provide background noise to deter potential intruders.
  • Use extra caution when communicating about your vacation dates on Facebook and other social media. Information spreads quickly, and you don’t want it to get into the wrong hands.
  • Advise your friends and trusted neighbors of your travel plans and when you’re expecting to return. Provide your mobile number so you can be reached in an emergency.
  • Have the post office hold your mail and suspend any newspaper deliveries, or ask a neighbor to collect them for you each day. A buildup of mail or uncollected papers is an obvious sign that no one is at home.
  • Ask a neighbor to park in your driveway on occasion so it looks like there is someone at home.
  • If you have landline phones, turn off the ringers so they can’t be heard from outside. Leave a note on at least one of the phones as a reminder to turn them back on when you return.
  • Arrange to have someone mow the lawn in your absence if you’re going to be gone for more than a week.
  • Close the window coverings on any ground-level rooms so that would-be thieves aren’t tempted by valuables and other items visible from outside.
  • Unplug appliances such as the coffee maker, toaster, microwave, computers, video systems, stereos, and televisions. Be sure to leave the refrigerator and freezer plugged in.
  • To avoid the potential of water damage from an unpredictable leak or a burst hose, turn off the water supply lines for the toilets, sinks, washing machine, dishwasher, and ice maker. It’s easy to do and can help avert coming home to a disaster.
  • Adjust the water heater to its lowest setting or to vacation mode if it has one. Maintaining the hot water at its everyday temperature while you’re away wastes energy and money.
  • If possible, pack your vacation gear into the car while it’s in the garage so that you’re not announcing to passersby that you’re leaving for an extended period.
  • Lock the garage, gates, and storage structures. Don’t forget to lock any side doors to the garage, as well as doors leading inside from the garage.

Enjoy your time away, knowing that you’ve taken these smart measures to keep your home safe and secure.

A Night with the Art

by Kijner & Sons International Realty




Summer nights in New York are vibrant and filled with cultural and social events. This is what makes this city so attractive to millions of creative minds, artists and art lovers around the globe. KSI Realty New York Inc.’s Broker and President Marc-Henri J. Kijner, was invited on June 21st, 2016 to discover iconic British born Shantell Martin's latest exhibition "Gone",
 at 3 Howard Street Gallery in the heart of Nolita. This private, invite only reception announced the visual artist imminent departure from New York City, and celebrated the impact it had on her practice over the past 7 years. Shantell is best known for her stream-of-consciousness drawings and lights projections.  




The event was impeccably hosted by a funky DJ, several Bombay Sapphire cocktails bars, and trays of French cheeses and sweet Beignets
 like in New Orleans. The Art displayed on white walls allowed the artist's inner feelings to be expressed to a diverse audience. This is another testimony of the influence that New York has on the world's culture scene. It is a constant reminder of the source of inspiration and the "Muse" that this grandiose city plays for many recognized and acclaimed artists such as Shantell Martin. 




KSI Realty New York Inc., has several commercial and residential properties available for rent or sale that are suitable for artists such as live/work lofts. Please 
contact us with your requests. One of our expert licensed salespersons will be delighted to assist you as well as share your passion for art, and everything that it encompasses.

Getting your House Ready for Sale

by Kijner & Sons International Realty

Most homebuyers will prefer a home that’s in turn-key, move-in condition. When looking at a home, buyers want to focus on what’s great, not what needs fixing or is in poor condition. Sellers can do a lot to make sure their home shows well and will get better offers than those that are in obvious need of TLC. The idea here is to take the attention off areas of superficial concern that buyers might otherwise focus on. Every negative adds up in the buyer’s mind, so it’s wise to do some basic updates and repairs before the home goes on the market.

Update Kitchen & Bathrooms

While a complete kitchen or bath remodel may not be possible or practical – and may not give a full return on the investment – some updating of these rooms will go a long way in appealing to potential buyers. In many neighborhoods upgraded and updated kitchens and baths are the norm and anything less will be looked upon negatively.

If the stove and refrigerator are clearly old and in less than perfect condition, they should be replaced. An updated kitchen faucet is another nice touch that doesn’t have to cost a lot. In the main bathroom, have the tile flooring professionally cleaned and the grout sealed. If the tile floor is in bad shape, replacing it with new, basic tile will make it a non-issue. Here, too, an updated faucet is often a good choice. If there is a shower curtain, replace it with a new, neutral style, or better yet, remove it altogether for a tidier appearance.

Clean or replace carpets

It should go without saying that carpets should be shampooed and in good condition. If the carpet looks worn and stained, the best choice is to simply replace it. The same goes for kitchen flooring – if it’s in bad shape, new flooring is the way to go. Depending on the situation, a new floor can often be installed right over the old one, which can mean less work and cost. Any replacement flooring should be neutral colored and does not have to be top-of-the line quality; the most important thing here is that it looks good and does not draw negative attention.

Enhance the Outdoors

Outdoors, replace any missing or damaged fence boards. It may be obvious that they’ve been replaced, but that’s preferable to leaving the fence in bad shape. Shrubs should be trimmed and kept neat, and weeds pulled. A thick (and quick!) application of bark mulch will help planting areas look clean and neat instead of a mess the new owner will have to deal with. Check around the exterior for any peeling paint or cracks that can present themselves as problems if not corrected.

Above all, remember that a buyer will have a better impression of a home that looks its best. After all, one of the first impressions you want a buyer to have is “It looks like this home has been well taken care of” – and let the home shine.

For more tips that will help you get your house ready to sell, just click here.

Are you looking to sell or buy a house, a condo, a villa or an apartment in Miami Florida or New York City? Do not hesitate to contact us at 
info@kijner.com or visit us at www.kijner.com

Special Investors - Development Projects in Florida

by Kijner & Sons International Realty


SPECIAL INVESTORS!

INVESTMENT OPPORTUNITIES IN
SOUTHEAST & CENTRAL FLORIDA, USA


Kijner & Sons International Realty is pleased to present its current development projects in Southeast and Central Florida, courtesy of Fortune International Realty.
To learn more about a specific project, just click on the desired image. 
 

Discover our various investment offers in the Greater Miami area inclusive of the cities of Miami, Miami Beach, Brickell, Downtown Miami, Sunny Isles Beach, Hollywood Beach, Fort Lauderdale and up to Orlando in Central Florida. 

  

3900 ALTON
3900 Alton Road
Miami Beach, FL 33139

3900 Alton Road, Miami Beach, Florida

       4 MIDTOWN
3301 NE 1ST Avenue
Miami, FL 33131

4 MIDTOWN, 3301 NE 1st Avenue, Miami, Florida


AUBERGE BEACH
RESIDENCES & SPA

2220 North Atlantic Bvld
Fort Lauderdale, FL 33305

 


AUBERGE RESIDENCES
& SPA MIAMI
1444 Biscayne Boulevard
Miami, FL 33132


BRICKELL CITY CENTRE

700 Brickell Avenue
Brickell, FL 33131

 


BRICKELL HEIGHTS

850 South Miami Avenue
Brickell, FL 33131

   


HYDE RESORT & RESIDENCES
4111 South Ocean Drive
Hollywood Beach, FL 33019

 


HYDE SUITES & RESIDENCES MIDTOWN

3401 NE 1st Avenue
Miami, FL 33137

 
JADE SIGNATURE
16901 Collins Avenue
Sunny Isles Beach, FL 33160

 


MIDBLOCK

3250 NE 1st Ave
Miami, FL 33137

   


NINE AT MARY BRICKELL VILLAGE

999 S.W. 1st Ave
Miami, FL 33130

 
ONE FLAGLER

14 NE 1st Ave
Downtown, FL 33132

  

ONE PARAISO

600 NW 31st Street
Brickell, FL 33137

 
 
OPERA TOWER

1750 North Bayshore Drive
Miami, FL 33132

   

P
ARAISO BAY

600 NE 31 Street
Miami, FL 33137

  
 
PARAISO BAYVIEWS

600 NE 31st Street
Miami, FL 33137

 

 PH PREMIERE HOTEL & SPA ORLANDO

13757 S. Apopka Vineland Rd
Orlando, FL 32821

 
 
SLS LUX

801 South Miami Avenue
Brickell, FL 33131

 

THE RITZ-CARLTON RESIDENCES

15701 Collins Avenue
Sunny Isles Beach, FL 33160

 
   


For more information and to schedule a visit, contact us today at info@kijner.com.

REBNY's Meeting - The State of the Manhattan Market

by Kijner & Sons International Realty




KSI Realty New York Inc.’s Broker and President, Marc-Henri J. Kijner, attended a panel discussion at the Real Estate Board of New York where top brokers and industry leaders discussed the state of the Manhattan market.

The 421 A program that was created by Mayor Bill De Blasio expired last January and experts composed of attorneys and industry leaders argued that due to the lack of tax incentives, developpers would most likely slow the development of affordable housing projects. Hence putting further emphasize on the hot market of the sub $3 million price range.

Resale units tend to stay on the market for less than a couple of days and buyers are competing even more to snatch their dream property. Higher cash reserves and better credit scores can certainly help strenghten the approval by the boards of both co-op and condominium buildings that prospective buyers are looking at.

New developments are generally not offering discounts but Attorney Steven Matz, one of the managing directors at Katz & Matz, expressed that they are seing more and more concessions on bigger deals such a free storage units being offered, upgrades given on fit and finish, or credit applied towards the transfer fees to attract buyers that are comparing with more affordable resale units, which tend to be larger but often in need of full gut renovation.

The conversation continued on the topic of rental market. Afterall, 70% of the real estate market in Manhattan is comprised of rental properties. Many brokers including myself, argued that June is the official kick-off month for the appartment hunt that thousand of new comers will engage in until late September.

There is no better time than now to find new rentals whereas landlords have updated, refurbished and repainted their units to attract as many quality tenants as possible. Using the help of a qualified and diligent licensed real estate salesperson can turn out to be an invaluable investment to help tenants snatch the best properties as soon as they hit the market. 



We at KSI Realty New York, believe that clients should sit down with our expert agents and discuss their needs. We help our valued customers pin point their area of interest based on their search criteria and finally draw potential property matches with the help of our online 
search tool.

During this panel discussion, we also talked about the emerging areas of Manhattan and everyone agreed that Harlem with Hamilton Heights was the most promising area. With beautiful browstone townhomes that can be up to 50% more affordable than their equivalents in the Upper West or East side of Manhattan, these products are a must buy! The extended subway lines on 2nd Avenue is also benefiting South Bronx and quality and affordable properties are also looking very promising for prospective investors.

For continuous update on the Manhattan market and lifestyle events about the city that never sleeps, please continue to follow us. For any questions, email us at nyc@kijner.com.

French Listings of the Month - June 2016

by Kijner & Sons International Realty

   


FRENCH LISTINGS OF THE MONTH


Kijner & Sons International Realty
is proud to present some of its unique properties for sale in France, courtesy of its exclusive partners, My Home Connexion Immobilier in Paris and Immocoach on the French Riviera.

To learn more about a specific property, just click on the desired image. 

Paris & Suburbs
paris@kijner.com




3 Bed, 2 Bath Apartment

close to Jardins du Luxembourg
in Paris 6th District
at 
2,015,000 euros - SOLD

   3 Bed, 2 Bath Apartment close to Jardins du Luxembourg in Paris 6th District   
           
      

 

 

Provence - Côte d'Azur
cedric@kijner.com





3 Bed, 3 Bath
House
with Swimming Pool & Landscaped Garden

on Mont-Faron in Toulon
at 
1,290,000 euros

  3 Bed, 3 Bath House with Swimming Pool and Landscaped Garden on Mont-Faron in Toulon    
                 


Luxury 13 Room
 House
with Swimming Pool and Landscaped Park
in Carqueiranne
at 
1,365,000 euros - REDUCED PRICE

  Luxury 13 Room House with Swimming Pool and Landscaped Park in Carqueiranne    
                 



6 Bedroom House
with Swimming Pool in a Gated Community
in Bormes-Les-Mimosas
at 
950,000 euros

 6 Bedroom House with Swimming Pool in a Gated Community in Bormes-Les-Mimosas     
                 



Renovated 5 Bedroom House
with Swimming Pool

in Saint-Tropez
at 
4,346,000 euros

 Renovated 5 Bedroom House with Swimming Pool in Saint-Tropez     
                 



Contemporary 5 Bedroom House
with Swimming Pool

in Carqueiranne
at 
1,575,000 euros

 Contemporary 5 Bedroom House with Swimming Pool in Carqueiranne     
                 



Recent 3 Bed, 3 Bath House
with Swimming Pool

in Carqueiranne
at 
1,450,000 euros

   Recent 3 Bed, 3 Bath House with Swimming Pool in Carqueiranne   
         
       




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State of New York City's Housing and Neighborhoods in 2015

by Kijner & Sons International Realty




KSI Realty New York Inc. is proud to share with you the latest
 report from NYU Furman Center for Real Estate and Urban Policy, which was released earlier this week. Some of the highlights include crucial data regarding demographics, trends and the prevalence of rent burden between low income and high income gentrifying neighborhoods.

To download the full report entitled "State of New York City's Housing and Neighborhoods in 2015", please click here.

Looking to buy or sell a property in New York City? Contact us today at nyc@kijner.com

March 2016 Housing Trends eNewsletter

by Kijner & Sons International Realty

Welcome to KSI Realty's most current Housing Trends eNewsletter!

This eNewsletter is specially designed for you, with national and local housing information that you may find useful whether you’re in the market for a home, thinking about selling your home, or just interested in homeowner issues in general.

Please click here or on the image below to view our MARCH 2016 Housing Trends eNewsletter and our dedicated market report for the Greater Miami Area.

The Housing Trends eNewsletter contains the latest information from the National Association of REALTORS®, the U.S. Census Bureau, Realtor.org reports and other sources.

Housing Trends eNewsletter is also filled with local and national real estate sales and price activity provided by MLSs and the National Association of Realtors, U.S. Census Bureau key market indicators, housing market video reports, blogs, real estate glossary, maps, mortgage rates and calculators, consumer articles, community reports that map shopping, schools, recreation and more.

If you are interested in determining the value of your home, click the “Home Evaluator link for a free evaluation report. 

Sound decisions can only be made with accurate and reliable information, and we are happy to be a trusted resource for you. Thank you for the opportunity to provide you with this monthly eNewsletter, and we look forward to answering any questions you may have and to the opportunity to be your REALTORS® in the future.


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Kijner & Sons International Realty
83-85 Boulevard de Charonne, 75011 Paris, France


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