What does the New Year hold for residential real estate?
Bellmarc Realty specializes in New York City Residential Real Estate. The company predominantly focuses on Manhattan Coops and Condos as well as Manhattan rentals. However, New York City real estate outside of Manhattan is a significant component of our operation. The firm has five locations: Bellmarc East Side is located at 1178 Lexington Avenue and centers its attention on East Side cooperatives and condominiums as well as rentals from 72nd street northward including the East Side, Yorktown, Carnegie Hill, and Spanish Harlem. Bellmarc West Side is located at 424 Columbus Avenue and it focuses on New York City residential properties consisting of coops, condos and rentals in locations running from the West Side, Manhattan Valley, Morningside Heights/Columbia University Area/ Harlem, Hamilton Heights, Washington Heights, Fort Tryon and Inwood. Bellmarc’s Broadway Office is located at 936 Broadway and focuses on Manhattan condos and coops as well as rental apartments from 14th street Union Square Area, the Flatiron District, Chelsea, the Meatpacking District, Gramercy Park, the Herald Square Area, the Theater District, Clinton, Columbus Circle and the Lincoln Center area. Bellmarc Midtown primarily focuses on New York residential real estate consisting of cooperatives, condominiums and rental properties from Turtle Bay, Kips Bay, the Midtown area, and the Bloomingdales area. Bellmarc Downtown primarily serves the Manhattan real estate Market below 14th street and handles cooperatives, condominiums and rentals in Greenwich Village, East Greenwich Village, West Greenwich Village, Soho, Loisada, Tribeca, the Financial District, Battery Park City. The Downtown Office also does a significant level of business in Brooklyn particularly in Brooklyn Heights, Park Slope, Carrol Gardens, Prospect Heights and Williamsburg.
New York City real estate is a specialized field. Thus, the company prepares its sales staff by insuring that all sales associates are extensively trained in serving customers for condominiums, cooperative apartments and rentals. Accordingly, salespeople engage in an extensive training program covering all aspects of the transaction process relating to cooperative apartments and condos. This includes being fully acquainted with the standard form contract, the approval application process for cooperative apartments and the right of first refusal requirement in most condominium apartments. Salespeople are also fully acquainted with the standard procedures relating to renting apartments in New York City including standard riders and leases typically used in a rental transaction. Salespeople are also fully acquainted with necessary procedures for qualifying buyers for the purchase of a property according to standard lending requirements for most banks and most cooperative and condominiums.
The Bellmarc real estate brokerage / agency is the sole licensee of Selection Portfolio. This is a patented procedure to assist buyers in effectively identifying coop apartments and/or condominium apartments in Manhattan. The procedure permits the evaluation of the entire population or a portion of that population of residential apartments available for sale in order to create a means of comparability between a group average and a selected property. Selection Portfolio is an efficient and effective means to help buyers in making informed decisions on which property in the best alternative in light of their specific buying formula.
Serving the residential real estate needs of our buyers, sellers and prospective renters is important. Bellmarc is committed to observing all local, state and federal laws as it may relate to matters of discrimination. We are committed to insuring that any cooperative apartment, condo apartment or any rental apartment are available to be seen by any party making an inquiry regardless of any protected class to which they may belong without exception or limitation. Buyers interested in purchasing a cooperative apartment are normally subject to review of their qualifications by a cooperative board who has the discretion to approve or reject applications in accordance with reasonable business judgment. Purchasers of condominium apartments are subject to a right of first refusal review by the condominium association who may reject an applicant who it believes does not qualify based on its interpretation of reasonable business judgment. Landlords are entitled to evaluate various prospective applications for an apartment and may select that prospective tenant who he believes offers him the least credit risk and best overall qualifications. Under no circumstances may any cooperative board, condominium board or landlord qualify a prospective owner or tenant as unworthy as a result of that party’s inclusion in a protected class as defined by local, state or federal discrimination laws.