Buyer’s consultation
Navigating the evolving landscape of buyer’s representation can feel complex, but with the right expertise, it becomes a true strategic advantage. Peter Comitini guides buyers through every step, offering clarity and ensuring that your interests are protected. Every client relationship begins with a conversation to understand your unique needs and goals. If you’re considering your next move, Peter is here to guide you through every step, ensuring a seamless and successful transaction. Schedule a buyer's consultation without cost or obligation to learn more about how we can help. As new rules reshape commission practices, understanding your options for buyer representation is more essential than ever. Whether you’re a first-time buyer or an experienced investor, our team’s commitment to quality service and data-driven insights provides unmatched support.
Today buyer representation emphasizes transparency, with clearly defined options for how sellers compensate buyer agents. Sellers now have the flexibility to offer different levels of commission, which may impact how buyers choose to engage with professional representation. For example, since buyer's agent compensation is part of an offer, buyers can elect to make offers contingent upon the seller picking up the cost, or cover any gaps if a seller provides limited commission, enabling you to retain our full-service support that prioritizes your needs. We will find a way to work with you! To understand more, consider booking a free buyer's consultation.
In New York City’s fast-paced real estate market, working with an experienced broker like Peter Comitini can make all the difference. With over two decades of expertise, Peter understands the intricacies that influence a successful transaction—from navigating competitive bidding to handling board approvals—and brings this experience to each client relationship. We believe that our local knowledge and industry contacts, developed over two decades are essential to meeting our client's goals.
The "co" refers to cooperation between brokerages to share their exclusive listings, property information, and commissions. The traditional "open co-brokerage model, as described here by The New York Times, is familiar to most and where sellers generally covered all agents’ fees. However, today’s evolving structure empowers sellers to potentially pass along some or all of these costs to buyers. It creates new complexity and variables which both sides of the transaction must carefully consider. consider. To understand better how this may affect you as a buyer, consider booking a free buyer's consultation.
In New York City, open co-brokerage began in the early 2000s, enabling brokerages to digitally share listings with one another and increasing transparency. Gone were the days of “pocket listings,” where some brokers might keep listings off-market to maximize their own commission. Co-brokerage created a more transparent and efficient marketplace for both buyers and sellers. However, back then there was still no central digital marketplace for verified sale listings.
Seizing on that opportunity around 2007 came the rise of the data brokers who are digital listing aggregators. They compiled market-wide listing data and presented it publically on the web. They saw this as cheap content and at first tried to use it to create on online publications to sell advertising. Yet even today, they do not directly offer any brokerage services, leaving the heavy lifting to local real estate brokers.
Consumer attention began shifting to these platforms, which at first scraped internet listings randomly, frequently leading to inaccurate listing data. Yet the the more convenient, comprehensive view of the market proved valuable to consumers. At that time, industry rules limited the display of listings to the listing agency’s website only—a practice that because of competitive pressure has since evolved with NYC brokerages following suit, albeit a bit late to the party. Today, you can view every available listing from any REBNY affiliated agency on platforms like ours, creating a more well distributed and open marketplace for all.
To hire a real estate buyer’s representative, treat the process like hiring a new employee. Start by researching brokers with a strong track record in buyer-side transactions, as they’ll have the skills to negotiate effectively and secure the best deal possible for you. Look for an agent with excellent listening skills and responsiveness, ensuring your needs are understood and prioritized. Ask friends and family for referrals, request references from past clients, and evaluate how each agent communicates and supports their clients. A strong representative will offer transparency, market expertise, and a commitment to your goals. We, of course, believe the most direct path to excellent representation is by working with us. Put Peter on your shortlist and book a no obligation, free buyer's consultation today.
You'll find two distinct options for buying an apartment in New York City. The flexible ownership of a condo, or the classic charm of a Coop.
New York City's housing market is unique, with a homeownership rate of 34%, significantly lower than the national average of 66%. We have three main types of property ownership:
Co-ops dominate the NYC market and are unique form of ownership. It is a category worth considering since they comprises 70% of the apartment inventory.
Condos are Real Property and have about 30% market-share with fee simple ownership.
Townhouses are precious and account for only 10% of annual home transactions. They're a specialty of Peter's.
Condos offer real property ownership of an apartment within a multi-unit building, along with shared ownership of common areas. They’re highly desirable for the control they offer buyers. Unlike co-ops, condos can be used as investment properties and leased out more freely. Though transactions still require board and management review., their authority is limited to a first right of refusal, allowing their only recourse as to purchase or lease the unit on the same terms if they wanted to block it. Co-op boards have much more governance over shareholder's transactions.
With condos making up about 30% of NYC’s market, their flexibility and limited availability often drive higher prices. Buyers receive a deed at closing, and each condo is individually taxed. Owners pay monthly fees for building expenses, and financing and subletting are typically more flexible, with no interviews or maximum financing restrictions.
Cooperatives, or co-ops, offer great value and are the most common type of apartment in NYC, making up about 70% of the housing market. While many co-ops are located in older buildings converted from rentals, many have been updated, and there’s often potential to increase value through renovations. When you buy in a co-op you're purchasing shares in a nonprofit corporation that owns the building. These shares grant you a proprietary lease for a specific apartment.
Co-op are referred to as ownership by "stock & lease". Buyers are "candidates" for membership, which must be approved by the co-op's Board of Directors. If you are Board approved as a co-op "shareholder", you're actually much like a rental tenant, but with an equity interest in the company which owns the building. Shareholders work cooperatively with their neighbors to manage and maintain the building. Co-ops are chartered for use as a primary residence, though some may permit pieds-à-terre for an owner's part-time use. Co-ops are not ideal for investment purposes, as renting out units is subject to Board restrictions.
A “cond-op” as the name implies, is a less common type of residential building that combines elements of both co-ops and condos. Structured legally as a cooperative ownership, cond-ops often follow condo-like rules for resale and leasing, offering more flexibility than traditional co-ops. Buyers in a cond-op receive stock and a proprietary lease at closing, instead of a deed as with a condo. Condops are frequently mixed-use buildings, with both residential and commercial sections. The residential portion operates like a co-op, where unit shareholders collectively manage the building, while the commercial section, often retail or offices, are structured as separate condo units.
Condops sound appealing for those seeking cooperative ownership with the added flexibility typical of condo rules. However there are some red flags to look for. For example, if a condop permits liberal subletting, it can create hurdles to obtaining mortgages should the ratio of owner occupied units drop below 50%, which in-turn, depresses home values in that building.
We represent buyers in new development condos frequently. Providing clients with insights into the marketplace, and how to strike the very best deal.
Are you drawn to sleek, modern architecture and luxurious interiors? A new development might just be the perfect fit. These are generally modern condominiums, but gut-renovated townhouses are offered too. Some are converted from existing buildings, and others are ground-up new construction. Even clients who have bought real estate multiple times may find the process of purchasing in a new development to be quite different from their previous experiences. Learn more on our New Developments page.
Townhouses are not just private homes—they're a lifestyle choice, often nestled in neighborhoods where strong community ties keep people connected.
What you will not often get even in a multi-million dollar condo, is the rarest commodity in New York City real estate. Owning the dirt or land has always been a true privilege. Townhouses offer the rare combination of land, privacy, space, a backyard, and connection with the city’s architectural heritage.
Often adorned with exquisite plasterwork, intricate wood details, and high design, these homes represent a small fraction of NYC’s housing stock. Townhouses are particularly prized in Manhattan and Brooklyn neighborhoods where intact rows of them can evoke a bygone era. Their rarity and historic character often attracts those seeking a more refined, urban lifestyle and room to grow.
Often over a century old, these homes are part of the fabric of communities. Owners often get to know one-another through stoop-side conversations with neighbors with whom they share admiration and concerns for the neighborhood.
A townhouse's width significantly impacts its price with 25" or wider commanding higher prices due to their potential for more versatile layouts such as side-by-side bedrooms. Common lot widths can range from 15 to 20 feet. If wider is better, consider that narrower townhouses, can be more affordable while still offering highly desirable features like gardens, garages, and extra storage. Bonuses like basements and cellars, sometimes excluded from official square footage are useful as storage or rec rooms. Some owners improve these spaces incorporating outdoor access with creative excavation and landscaping.
Consider what it must be like to own a 175 year-old townhouse. Buying one requires due diligence—an understanding of the property’s condition, and ongoing maintenance. Many of these homes date as far back as the mid-19th century and will demand more consistent upkeep than newer buildings. It's essential to budget for ongoing care. There are a variety of styles and construction techniques used in their design and modification over the years, so getting a home inspection is a must when buying one. Each building is unique and it is an essential risk assessment to make.
Many New York City townhouses are located in Landmark Districts, where the Landmarks Preservation Commission (LPC) regulates modifications to preserve their historic character. Alterations affecting the public streetscape, such as changes to facades or windows, require LPC approval, which can extend project timelines and increase costs. However, these are protections that enhance long-term property value and ensure the human-scaled charm and ambiance of these neighborhoods endures for future generations.
While single- and two-family homes are a significant portion of the market, Peter's expertise extends to 1-4 family residences and smaller multi-unit investment properties, including mixed-use buildings with apartments above retail stores. Whether you're a small independent building owner aiming to sell, complete a 1031 exchange, or lease a multi-family property, Peter provides personalized, high-quality service to meet your real estate needs.
Buying a home in New York City is a multi-step journey that typically unfolds over the course of six months, though the timeline can vary based on market conditions and your personal circumstances. Helping people to navigate this process is the very essence of our work. Whether you're transitioning from selling a current home or coordinating the purchase with the end of a lease, there are many factors to keep in mind. Below is an overview of the key steps involved once you partner with Peter to begin the process.
Buyer’s consultation
Getting ready
See homes fpr sale
Making an offer
Getting into contract
Purchase Application
Closing on your new home
For over 20 years, I’ve helped clients navigate the complexities of the NYC real estate market with personalized service, strategic marketing, and the expertise to close deals smoothly. Ready to take the next step? Dive deeper into my site, and when you’re ready, book a call below to start your real estate journey.
Instantly get an estimate with our free home valuation tool. It is important to know how much you can expect form the sale of your current home. Timing can be everything, and we're experts at helping people navigate complex purchase/sell scenarios. For a more precise evaluation, we can visit your home and refine the estimate into a more detailed Comparative Market Analysis (CMA). Whether you're ready to sell or just staying informed, start here to uncover your home's full potential.Looking for expert advice? Contact Peter to get started
This property estimate is based on an automated valuation model (AVM) that utilizes public data and trends to estimate the current selling value of your home. It serves solely for informational purposes and is not an appraisal. Prior to making any significant decisions, you should consult with your trusted licensed real estate broker or licensed appraiser. We provide a complimentary on-site home market evaluation for homeowners considering the sale of their property
Knowing the difference between real estate brokers and data brokers is crucial. Because when real estate isn’t the actual product being sold online, you are.
Data brokers, or "listing aggregators," which gained popularity in the mid-2000s, may look similar to brokerages but have a completely different business model. Most do not provide brokerage services; instead, they focus on generating traffic and selling your digital fingerprint—including your contact information—to agents, moving companies, insurers, and others in the 'shelter' industry willing to pay for it. When you click for more details, they are capturing and selling your digital fingerprint, not answering your inquiry. As an opaque lead capture process, it prioritizes data collection over client service, inserting middlemen, and connecting buyers with agents who may be barely even vetted.
Peter Comitini's team offers service that shows up in-person at the closing table. We sell real estate, not your personal information. With years of experience and trusted relationships in the brokerage community, we help our clients achieve their goals. Put us on your shortlist, and book a complimentary buyer's consultation today to learn more.