What are the factors to consider when shopping for an apartment?
Price range, location, layout, storage space and noise are all factors to consider when shopping for an apartment. Determining the right type of apartment for you is not always clear as there are so many types of apartments to consider.
What is a high rise apartment?
A high-rise apartment is a unit in an apartment community or building with 12 or more stories. This type of apartment and building is likely to have access to multiple elevators. A mid-rise apartment is located in a five to 11 story apartment building. This apartment type is normally found in an urban setting and has one elevator.
What is a co-op or cooperative housing?
A co-op or cooperative housing is a type of apartment where one buys in to become a part-owner of that entire piece of property. The part-owner will then have the right to live on the premises in an available apartment but will shoulder some financial responsibility, for example, mortgage payments or maintenance costs.
What does it mean when a building has an anchor tenant?
So, if you were selling a building with a store on the ground floor, and that store was successful and locked into a 10 year lease, it could be said that the building has an anchor tenant. What are the tricks that corporate America uses to get us to spend more money? Leasing and Managing Agent for NYC Landlords.
What is the top level of an apartment building called?
Traditionally, a penthouse is known as the top-floor apartment of a residential building.
What is an apartment over two floors called?
In dense areas like Manhattan and downtown Chicago, a duplex or duplex apartment refers to a maisonette, a single dwelling unit spread over two floors connected by an indoor staircase. Similarly, a triplex apartment refers to an apartment spread out over three floors.
How would you describe a high-rise apartment?
In the U.S., high-rise apartment buildings are determined by fire code standards, and are generally those with over a 75 feet distance between the first floor with ground access. High-rise apartments differ from walk-up apartments, low-rise apartments, and apartments in skyscrapers.
What is a multi level apartment called?
Duplex/Triplex: Apartments with two or three levels respectively.
What is condo vs apartment?
The biggest difference between a condo vs. apartment is ownership. An apartment is defined as a residence that is rented, often as part of a larger residential building. A condo is similar in structure to an apartment — usually a unit within a larger residential building — but condos are owned instead of rented.
What is the difference between a maisonette and an apartment?
– A key difference between an apartment and a maisonette is that with the apartment you have your front door leading out onto a common area shared by other apartment owners in your block and you need to travel through the common area to be able to exit the block or vice versa.
What is a tall building called?
skyscraper, a very tall multistoried building. The name first came into use during the 1880s, shortly after the first skyscrapers were built, in the United States.
What's a high-rise flat?
However, in the U.S., a high rise is an apartment building with a height of at least 7 stories, as defined by the National Fire Protection Association. Yardi Matrix, an apartment market data provider and our sister company, defines high-rises as apartment communities of 10+ stories in height.
What is the difference between a mid-rise and a high-rise?
A mid-rise is taller, with five to twelve floors, and a high-rise apartment has at least nine floors. Mid-and high-rises are most common in urban areas.
What is a studio type apartment?
A studio apartment is generally a self-contained space that houses everything in a single room with a separate bathroom.
What is a tenement?
Legal Definition of tenement 1a : any of various forms of property (as land) that is held by one person from another. b : an estate in property. 2 : dwelling. History and Etymology for tenement. Anglo-French, from Old French, from Medieval Latin tenementum, from Latin tenēre to hold.
What are the most popular kinds of apartments?
7 types of popular apartments Ordinary apartment. This is a common type, found in all apartments from affordable to high-end. ... Studio apartment. Studio is the word used for apartments with a small area. ... Officetel apartment. ... Shophouse. ... Penthouses. ... Duplex Apartment. ... Sky Villa Apartment.
What is a multi level unit?
Multifamily residential (also known as multidwelling unit or MDU) is a classification of housing where multiple separate housing units for residential inhabitants are contained within one building or several buildings within one complex.
What is a maisonette flat?
A maisonette is defined as a two-storey flat with your own front door. This means you can directly exit your home to the outside world instead of sharing a corridor with other people in your block. Maisonettes are also referred to as 'duplexes,' which is their American title.
What is duplex flat?
an apartment on two floors.
What is a duplex unit?
A duplex is a multi-family home that has two units in the same building. These two units always share a common wall, but the floor plan can vary. Units can be arranged either side by side or stacked on top of one another, each occupying an entire floor or two of the building.
What is studio apartment?
A studio apartment is a small apartment with an open floor plan. It consists of a single room that combines the bedroom, living room and kitchen spaces with a separate room containing a complete bathroom. Variations of studio apartments include an alcove studio or a convertible studio.
What is convertible studio?
Convertible studio or apartment. A convertible studio follows the same format as a traditional studio apartment type. However, in this case, the apartment is big enough where one could build a wall to create a complete bedroom. Whereas, a convertible apartment has enough space that an area could be converted into an additional bedroom ...
What are the options for renters?
These types of apartments are not the only options renters have as condos, townhomes and houses are all potential options.
What is a walk up apartment?
Walk-up. A walk-up apartment is an apartment located in a building accessible by stairs only. Buildings with this type of apartment are usually smaller and have fewer tenants. Walk-up apartments can be more affordable, but they may be seen as less desirable because there is no elevator.
What is an alcove studio?
Alcove studio. An alcove studio is the same as a traditional studio but generally has an L partition in the living room. In other words, there is a nook or alcove for a bed. This makes the area easier to curtain or wall-off for more privacy.
What type of house has multiple floors?
Townhouse: Townhomes typically have multiple floors and share a common wall with one or more neighbors.
What is a high rise apartment?
High-rise. A high-rise apartment is a unit in an apartment community or building with 12 or more stories. This type of apartment and building is likely to have access to multiple elevators.
What are the disadvantages of mixed use?
Meanwhile, disadvantages are that a business is harder to evict, and food-based tenants bring in a whole host of other issues as well. Another disadvantage is that financing a mixed-use property can be challenging, and borrowers sometimes look to commercial lenders. “Many borrowers do not realize that the government offers low-down payment options ...
What to know before buying a mixed use property?
Potential buyers should be aware that changing a building’s certificate of occupancy from commercial to residential is not easy. There have been cases when buyers failed to inspect the certificate of occupancy and did not realize until after purchasing a building that it was commercial.
What is mixed use property?
A quick definition of a mixed-use property. A mixed-use building is a type of a commercial property that includes both commercial and residential space. In addition to the aforementioned storefront, another example home hunters are likely to encounter is a single-family property with a ground floor doctor’s office.
Where are mixed use properties in Manhattan?
Mixed-use properties are common in Manhattan and along major commercial strips in Brooklyn, such as Atlantic Avenue, Franklin Avenue, Court Street and Smith Street. In such areas, commercial storefronts topped with apartments line the streets. In areas developed in the late 19th century, such as Park Slope and Bed Stuy, ...
Does Fannie Mae offer mixed use loans?
Both Fannie Mae and FHA allow mixed-use loans. For example, FHA offers financing for both single-family and two- to four-unit mixed-use properties, as long as at least 51 percent of the building is residential. A mixed-use property on Franklin Avenue in Crown Heights. Photo by Joe Strini for Property Shark.
What did Mim Nelson-Gillett fear?
Nelson-Gillett, who had struggled with her weight for years, feared she would live in a state of constant temptation.
What does it mean when a condo owner comes home to awnings illuminated by the glow of bank signs?
Renters find that after sharing a ventilation system with a restaurant, they are forever turned off by the cuisine of an entire continent.
Where is 568 Union?
When Heatherwood Communities began seeking commercial tenants for the ground floor of 568 Union, a high-end rental building on Union Avenue in Williamsburg, Brooklyn, “bars were not what they were looking for,” said Chris Havens, who spearheaded the effort as a broker with aptsandlofts.com.
When choosing commercial tenants, do developers consider their clients?
Other developers also consider their clients when choosing commercial tenants.
Where is Brigitte Prat's shop?
Brigitte Prat, upper right, peers out of the window of her apartment that sits above LuLu’s Cuts & Toys, her shop in North Park Slope.
Where does Ashley Falcon live?
Ashley Falcon lives over a funeral home in Greenwich Village. Credit... Every New York apartment has a catch, and so when Ashley Falcon, a gregarious fashion stylist, considered the built-in closets, roomy kitchen and plentiful windows in a particular Greenwich Village rental while apartment-hunting two years ago, ...
Did Brigitte Prat buy a building?
The practice became so unusual that when Brigitte Prat broached the idea of buying a building to house both her own apartment and her children’s toy store and hair salon, friends — even, she suspects, her mother — “thought it was this outrageous, berserk investment for someone who pretty much works paycheck to paycheck,” she recalled.
