Buying, selling or investing in New York?

Who we help in New York

Buying, selling or investing in New York City or elsewhere in New York? Steven Hou is licensed in New York — tell us what you need. We welcome buyers, sellers and investors in Manhattan, Queens (including Flushing), Brooklyn, Long Island and Westchester, and New York residents who are thinking about a move to New Jersey.

Our home base is Hillsborough in Central New Jersey, and our bilingual Mandarin-English team can talk with you by phone, video, WeChat.

NYC condos and co-ops

Much of the city's apartment market is condos and co-ops. We help buyers compare buildings and understand what a co-op board package and approval involve, and we help sellers prepare a unit for the market. Your attorney reviews the building's documents and finances before you commit.

Brownstones and townhouses

Brownstones and townhouses are houses, many in landmark or historic districts, where renovation rules, building age and layout shape value. We help buyers and sellers weigh condition, permits and the work involved, with your attorney and inspector reviewing the details.

Queens, Brooklyn, the Bronx and Staten Island

We work with buyers and sellers across Queens, Brooklyn, the Bronx and Staten Island, from apartments to one- to three-family houses. Property type, tax class and commute drive the comparison, so we start there. If you live in New York and work in New Jersey, or the reverse, we can compare the commute both ways.

Long Island

Long Island homes are bought and sold town by town, and school districts, property taxes and the commute to the city differ from one town to the next. We help you compare the specific towns and properties you are considering.

Westchester

Westchester County has commuter-rail service to Manhattan and a mix of village, suburban and estate-style homes. We help buyers and sellers compare towns, taxes and commute for the properties under consideration.

Hudson Valley homes

The Hudson Valley spans several counties with very different towns, prices and commutes. We help buyers and sellers compare specific towns and properties, including the drive or rail connection to New York City and to New Jersey.

NYC apartment rentals

We lease in New York as well as buy and sell. We help landlords and tenants with listing, showing and lease paperwork for New York City apartments, for rentals of $3,000 per month and above. Tell us the building, budget and move date.

Property tax: NYC versus New Jersey

In New York City, the Department of Finance sets the property tax bill using the property's tax class, so one- to three-family houses and co-ops/condos are taxed under different rules. In New Jersey, the bill is set by your town, county and school district, so two homes at the same price can carry very different taxes in neighboring towns.

Compare actual tax bills for the specific properties you are considering, not averages. For New Jersey towns, see our property tax rates page.

Transfer taxes when you buy or sell in NYC

A high-level view, not a quote. Your attorney calculates the exact amounts for your sale or purchase.

• The seller pays the New York State transfer tax of $2 for each $500 of the price.
• In New York City the seller also pays the city transfer tax (RPTT): for one- to three-family houses, condo units and co-op apartments, 1% of the whole price when it is $500,000 or less, and 1.425% of the whole price when it is above $500,000.
• The buyer pays an additional 1% "mansion tax" on residences priced at $1,000,000 or more.
• Higher-priced New York City sales carry additional state taxes; the NYS Tax Department publishes the schedule in the instructions for Form TP-584-NYC.

Co-op versus condo: the basics

A condo buyer owns a specific unit and receives a deed. A co-op buyer owns shares in a corporation that owns the building, and those shares entitle the buyer to live in a specific apartment. Most co-ops have a board that reviews buyers, and monthly charges, rules on renting out the unit and financing terms differ from building to building.

Before you make an offer, ask your attorney to review the building's documents and finances.

Commuting to New York City from New Jersey

Many New Jersey towns have NJ Transit rail or bus service to Manhattan, and PATH trains connect Hudson County towns to Manhattan. Service, travel time and fares differ by town and line, so check the schedule for each town you are considering and test the commute at the time of day you would actually travel.

Moving from New York to New Jersey

If you are weighing a move to New Jersey, we compare towns by schools, commute, taxes and price. A few differences to expect: in New Jersey, a home contract is reviewed by your attorney during a 3-business-day attorney review period, and the seller pays the Realty Transfer Fee.