Free Guide
The NYC Home Buyer's Guide
Everything you need to buy a condo, co-op, or townhouse in Manhattan & Brooklyn — from pre-approval to closing.
1. Get your finances ready
Before you tour a single apartment, get pre-approved for a mortgage and understand your all-in budget. In NYC, plan for closing costs of roughly 2–5% for buyers (more for new development, where you may pay transfer taxes and the sponsor's attorney fees). Co-ops also require strong post-closing liquidity — often 1–2 years of mortgage + maintenance in reserves.
2. Condo vs. co-op vs. townhouse
Condos offer the most flexibility (easier financing, subletting, and foreign/LLC purchases) at a price premium. Co-ops are typically 10–40% cheaper but require board approval, have stricter financing and subletting rules, and a board package. Townhouses give you the whole building and land — maximum control, maximum responsibility.
3. Make a competitive offer
We price your offer against recent comparable sales, days on market, and seller motivation. In a co-op or condo, the listing agent presents your offer with your financial profile, so a clean, well-documented offer wins — sometimes over a higher but weaker one.
4. The board package (co-ops & condos)
Co-op boards review a detailed package — financials, tax returns, reference letters — and interview you. Condos have a lighter right-of-first-refusal waiver. We help you assemble a board package that gets approved the first time.
5. Closing
From accepted offer to closing usually takes 60–90 days (longer for co-ops). Budget for the mortgage recording tax, title insurance (condos/townhouses), mansion tax (1%+ on purchases of $1M+), and attorney fees. We coordinate your attorney, lender, and the managing agent to keep it on track.
6. Where to buy
Downtown Brooklyn and DUMBO offer new-development amenities and transit; Williamsburg balances lifestyle and value; the Upper East Side and Carnegie Hill remain Manhattan classics with strong co-op value. We'll match neighborhoods to your priorities and budget.
Ready to start? The Miller Markowicz Team guides NYC buyers through every step. Schedule a consultation.