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New York City real estate works differently than most places. Most people live in apartments or townhouses, and buyers often purchase co-ops instead of traditional condos or houses. The first decision newcomers face is whether to rent or buy.
New York City real estate works differently than most places. Most people live in apartments or townhouses, and buyers often purchase co-ops instead of traditional condos or houses. The first decision newcomers face is whether to rent or buy.
If somebody were moving to New York, how would they understand your market quickly, knowing that it's a very unique real estate environment? There's different kinds of places you can live in, in New York. So we've got apartments and we have townhouses. A townhouse is a more narrow version of a house that you would have in the suburbs. So most people who live in New York City live in apartments or a piece of a townhouse. So if you move to New York, you're going to either rent or buy, right? You can rent an apartment, and then if you purchase, we have two ways we purchase. New York is unique. I think Chicago has some too, but maybe Florida has a few, but generally we have something unique, which is called a co-op.
