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Image by Gerd Altmann / Pixabay

Billionaire and former New York City Mayor Mike Bloomberg entered the race for the Democratic Party’s nomination for president in November of last year. Andrew Yang had filed to run for president a full year prior. Joe Biden, Bernie Sanders, Elizabeth Warren, and Pete Buttigieg did so by April. In the weeks preceding Bloomberg’s announcement, 83 percent of Democrats indicated they were satisfied with the historically large crowd of candidates who had already been courting their votes for the better part of a year.

By the second week of January, early favorites including Kamala Harris and Cory Booker had dropped…


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1117 Hoe Avenue

A lender sends a NYC condo questionnaire to the condo development team when a potential new resident applies for a mortgage. The questionnaire allows the lender to ensure a building meets its requirements for a loan. The lender can in turn then consider providing the loan to the condo buyer.

Someone associated with the condo fills out the questionnaire. This is often the condo building’s managing agent. The borrower cannot fill it out directly.

The questionnaire qualifies the building’s buyers for loans guaranteed by federal mortgage companies such as Fannie Mae.

Here is a sample preamble to a condo questionnaire…


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56-leonard-st-10013

The NYC conforming loan limit that applies to condos for 2021 is $822,375.

A conforming loan limit is the maximum price for which the US government will purchase your loan from your lender. Loans under this limit are conforming loans. Mortgages that exceed the loan limit are jumbo loans.

Why do I want my condo to be below the NYC conforming loan limit?

Home buyers can benefit from taking out a conforming loan, as opposed to a jumbo loan. The main advantage is a lower Annual Percentage Rating (APR). This results in lower fees and interest payments for the home buyer.

In addition, lenders are more likely to give a home buyer a loan…


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An appraisal is a property valuation completed by an unbiased professional hired by your mortgage company. With an appraisal in hand, your lender knows if they have the collateral they need in case something goes wrong.

The appraisal is one of the first steps in the closing process.

Lenders rely on appraisers, who are licensed or certified to do the job, to act as an objective third party. The condo buyer can trust appraisers to give the prospective lender a fair assessment of the new condo’s value.

In NYC, an appraisal costs about $500. You pay this fee to your…


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Identifying the best website to find NYC condos is essential in a buyer’s market teeming with options. Now is an especially opportune time to consider condos in new buildings.

The process can be overwhelming. But the right site will empower you to search efficiently and even strike a favorable deal with condo sellers.

Marketproof is the gold standard in this arena. This popular new site sets itself apart from the competition by providing condo information unavailable anywhere else.

Marketproof New Development, Marketproof’s subscription service goes even further. It does not just show you NYC condo inventory. …


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The NYC conforming loan limit that applies to condos for 2021 is $822,375.

A conforming loan limit is the maximum price for which the US government will purchase your loan from your lender. Loans under this limit are conforming loans. Mortgages that exceed the loan limit are jumbo loans.

Why do I want my condo to be below the NYC conforming loan limit?

Home buyers can benefit from taking out a conforming loan, as opposed to a jumbo loan. The main advantage is a lower Annual Percentage Rating (APR). This results in lower fees and interest payments for the home buyer.

In addition, lenders are more likely to give a home buyer a loan…


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Parking, storage, and bike rooms are three of the most sought-after amenities in NYC condos. Other examples include gyms, social spaces, and outdoor areas.

Anyone who has tried to fit all their belongings into an NYC apartment or spent an hour searching for Manhattan parking knows why condo buyers treasure these amenities. In this post, we explain how much they cost, how they factor into condo deals, and where to find the newest NYC condos.

Parking

The typical NYC parking space is 153 square feet, though some are a bit more compact at 145 square feet.

Prices range widely, from $250,000…


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Egged on by President Trump, the majority of US states have at least partially reopened their economies. Non-essential businesses and even schools in some states are opening their doors, exposing workers, customers, and students to COVID-19.

This is happening despite repeated warnings from public health officials that it will not be reasonably safe to resume social activities until mass testing and contact tracing are available in the US. Despite Trump’s claims that states have all they need for testing, governors on both sides of the aisle have repeatedly said testing is not where it needs to be to keep Americans…


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Amazon Selling Cashier-less Tech Should Set Off Antitrust Alarms

Amazon is bringing the technology that powers its cashier-less Go convenience stores to other retailers, selling the retail-as-a-service solution to brick-and-mortars looking to juice up the in-store customer experience with some Big Tech magic.

The move will look familiar to anyone acquainted with Amazon’s market-crushing expertise. It’s the same playbook Amazon perfected with cloud computing: Marshal nearly unparalleled financial resources and in-house talent to manufacture a top-notch B2B solution (AWS) outside the company’s core business (retail), and rely on the high margins from the secondary income stream to keep retail prices…


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In light of last month’s enactment of the California Consumer Privacy Act, I posed questions on surveillance capitalism, privacy, Big Tech, and the future of digital advertising to Brendan Eich, CEO of Brave, one of the leading companies championing privacy-first solutions in the tech industry.

I was pleasantly surprised to see you use the phrase “surveillance capitalism” to describe the state of the corporate internet. In her book on surveillance capitalism, Shoshana Zuboff argues that privacy is actually not a sufficient framework for understanding surveillance. Privacy, Zuboff warns, could lead us to believe we just need a few restrictions or…

Joe Zappa

I cover tech, politics, and real estate as a freelance journalist. joezappa614@gmail.com, @joe_zappa

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