How to Value Your FAR


Does anybody know if there is a patent formula to figure out what your available FAR is worth?

Categories: Appraisals
By bmfesq | 05/24/2011 9:45 AM | Comment

Air Rights Market Value?


A developer next door to me wants to buy about 500 sq. ft. of an available 2000 or so sq. ft. of air rights from me to build an extra room on top of the fourth floor. Home is currently only two levels. What is the market value to these air rights? I am in North Crown Heights.

Categories: Zoning
By bmfesq | 05/20/2011 1:45 PM | Comment

421a Tax Abatement


Has anyone had their 421a tax abatement application (filed July 2007) rejected from HPD? I was told mine was, but the consulting company (HFC)has done nothing to cure the original defects in the app. The HPD insists that I am not the “client” but rather the developer is and HFC.

I cannot get a copy of the “file” since despite being the owner of the home for 3 years, I have no right to it.

Anyone else have this problem with 421a apps?

Categories: Taxes
By bmfesq | 03/23/2011 12:36 PM | Comment

Tenants Now Renting Out One of the Bedrooms


My second floor tenants are renting out one of their three bedrooms. I found this out because a young lady rang my doorbell and asked if I was renting out “the room”.

I stared at her and she said, oh it must be upstairs.

Question: Do I ask my tenants about this? And should I do anything about rent?

They are now month to month, I only pay water/sewage and they are habitually late on rent and bounced 3 checks in 2.5 years.

Categories: Tenants
By bmfesq | 08/30/2010 2:58 PM | Comment

Can You Paint Your Home Any Color?


I live across from a private school that has 5-6 foot concrete and wrought iron walls/fences. Recently they painted the walls off-white and I was thrilled.

Then yesterday I see they started a multi-colored, various themed mural. It looks like a carnival and very out-of-place with neighborhood.

Is this at all regulated by city?

Categories: Permits
By bmfesq | 06/24/2010 3:45 PM | Comment

421(a) How Long Does It Take?


I had a 421(a) tax abatement application filed in July 2007, an amendment (correction) was made in December 2008 and “re-filed” online. It will be 3 years this July, what is the city’s incentive to push this through? They are really dragging their feet on a simple app. Any one else have similar troubles? Any insight?

Categories: Taxes
By bmfesq | 06/16/2010 3:38 PM | Comment

Bank Refi Runaround


Has anyone experienced resistance with their banks in trying to refinance their current mortgages? From May until now I have had alot of issues with HSBC, really what is their incentive? Today I was told they do not have to follow Freddie Mac/Fannie Mae guidelines, is this true?

Categories: Mortgage
By bmfesq | 10/16/2009 3:10 PM | Comment

Ticket for Trash – Who Pays?


I woke this morning to find four garabge bags on my sidewalk put there by an over zealous tenant 12 hours too early and was promptly handed a ticket for $300. They have been tenants for 2 yrs. Who should pay this in your experience?

Categories: Tenants
By bmfesq | 08/11/2009 10:48 AM | Comment

Real Estate Values


Is there a consensus on how much housing prices have declined in last year in Brooklyn?

Categories: Real Estate
By bmfesq | 03/31/2009 11:06 AM | Comment

Assessed Property Value


Does anyone know the formula the city uses to determine the fair market value of your house?

Has anyone tried to challenge the city’s determination?

Categories: Taxes
By bmfesq | 06/25/2008 11:20 AM | Comment