Five Simple Rules for Buying an Apartment in New York City

Aug. 19, 2014 — Whether you're an ordinary apartment-buyer or a mogul looking to invest in a $50 million co-op or condo, New York City real estate is unlike real estate anywhere else in the world. And given the nature of New York — where a bike messenger and a millionaire can be standing in the same line for coffee — it's not surprising that the same rules for buying real-estate apply to both kinds. BusinessInsider.com recently listed five pretty good rules for apartment-hunters in this rare city with more co-ops than condominiums. As it notes under #3 ("Research the Building and Developer"), "Knowing whether the co-op rules might change to no longer allow pets or if there are plans to completely redo the lobby (requiring you to pay a large monthly assessment) could sway your desire to live in the building." Yeah, but not about living in the City. (Illustration by Jane Sanders)