167 questions · 10 topics · updated September 2026

New York real estate questions, answered by Gavin Hammon.

Straight answers on selling, buying, costs, co-op boards and the Manhattan and Brooklyn market, from a Compass broker with 17 years in the city. Every number has a source.

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Answered by Gavin HammonLicensed Associate Real Estate Broker at Compass · 17 years in Manhattan & Brooklyn · About Gavin

Sellers

Selling a home

17 questions →

What are the steps to sell an apartment in NYC?
How long does it take to sell an apartment in NYC?
How should I price my NYC apartment?
Should I stage my apartment before selling in NYC?
Are open houses worth it when selling in NYC?

Seller costs & taxes

17 questions →

How much are seller closing costs in NYC?
Who pays the transfer tax in NYC, the buyer or the seller?
What is the NYC Real Property Transfer Tax rate?
What is the New York State transfer tax on a home sale?
Does the seller pay the NYC mansion tax?

Working with an agent

17 questions →

How do I choose a listing agent to sell my NYC home?
What questions should I ask a listing agent before hiring them?
How many agents should I interview, and how?
What is an exclusive right to sell agreement?
How long should a listing agreement be in NYC?

Buyers

Buying a home

17 questions →

What are the steps to buying an apartment in NYC?
How long does it take to buy an apartment in NYC?
Do I need a mortgage pre-approval before making an offer in NYC?
How do you make an offer on an apartment in NYC?
What happens between an accepted offer and signing the contract in NYC?

Buyer closing costs & taxes

16 questions →

How much are buyer closing costs in NYC?
Why are closing costs lower for co-ops than condos in NYC?
What is the NYC mansion tax, and how much is it?
What is the NYC mortgage recording tax?
Who pays transfer tax when buying in NYC?

Co-ops vs condos

16 questions →

What is the difference between a co-op and a condo in NYC?
What are the pros and cons of a co-op versus a condo?
Why are co-ops cheaper than condos in NYC?
How much down payment do co-ops require in NYC?
What debt-to-income ratio do NYC co-op boards require?

International buyers

17 questions →

Can foreigners buy property in NYC?
What type of NYC property is best for international buyers?
Can a foreign national get a mortgage in NYC?
Should an international buyer purchase NYC property through an LLC or trust?
What is the FinCEN residential real estate reporting rule, and is it in effect?

Market

The NYC market in 2026

16 questions →

Is now a good time to sell in Manhattan?
Is now a good time to buy in Manhattan?
Is now a good time to sell in Brooklyn?
What is the median home price in Manhattan?
What is the median home price in Brooklyn?

Manhattan & Brooklyn neighborhoods

17 questions →

What are the best neighborhoods to buy in Manhattan?
What are the best neighborhoods to buy in Brooklyn?
Can a real estate agent tell me which neighborhood is safest or has the best schools?
West Village vs East Village: what is the difference for buyers?
Tribeca vs SoHo: how do they compare?

Townhouses & brownstones

17 questions →

How do you buy a townhouse in New York City?
How do you sell a townhouse or brownstone in NYC?
What is a brownstone?
What is the difference between a brownstone and a townhouse?
What does it mean if a house is in a landmark district?

Every home is different. Start with yours.

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