What Nobody Tells you About Selling a Coop in Queens NYC

by George Herrera, Realtor and Listing Specialist with the Queens Home Team at Keller Williams Realty.

We sell a lot of properties here in Queens, and being that we’re in New York City, a lot of them tend to be Coops. Whenever we meet with first time Coop sellers, we always let them know, selling a Coop in Queens NY is a whole different animal. There are so many intricacies and things you have to look out for that if you don’t know what you’re doing, you can very well end up with a management, board, or bank denial which then leaves you right back at square one. Trust us, we’ve learned this the hard way…

With that said, we’ve created a list of all the things you should know when selling a Coop in Queens NY. Most of this is not told to you when you buy, but extremely important if you want to sell and close in a reasonable amount of time.

Minimum Sale Prices

No one will tell you about this because it’s pretty much illegal. Nonetheless, it is very common when selling a Coop in Queens… Here’s what happens, a Coop’s management company or board might not want to see apts sell for less than a certain amount, and the reason can be because they themselves are shareholders and(or) they don’t want to see values go down in the building/development… Either way, it’s a big problem because essentially, these Coops are artificially inflating the prices in their development. The good news is that usually the minimum sale prices are realistic and attainable as long as your Coop is in good condition. The problem arises when you have a less than desirable unit, or if there is a lot of competition in your building/development… For example, we’ve had several situations where the Coop had a minimum sale price, however, ALL of the offers were coming in below that. So, we typically would have to work out some type of agreement whereby the owner agrees to offer a credit to the buyers at closing. This allows the contract to state the minimum sale price, when in reality, the actual sale price is less because the buyer is getting a credit at the closing… Moral of the story, find out if your Coop has a minimum sale price. Sometimes it’s not even a clear answer, but they may be looking for apts to sell in a certain price range… Do your digging because you don’t want to have a board rejection due to a price that was considered too low, trust us, we’ve learned this the hard way…

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Management Company/Board Requirements

Most management Companies and(or) Boards have clear requirements that must be met in order to purchase in their developments. So, it’s important that you know what these requirements are before you decide to sell. Why? Because they may have changed since the time that you purchased, and if you don’t know what these requirements are, you can easily put somebody through that ends up getting rejected. Requirements can vary by Coop so you have to inquire with your own mgmt company and board. For example, some Coops require that debt to income ratio be below 36%, some 34%, some require 30%, and some even have a requirement as low as 26%. Some have set income requirements which can be a set amount or a specific formula like 3 years of monthly maintenance plus 12 months of mortgage pmts if buyer is obtaining financing… Some Coops have reserve requirements… Some have employment history requirements… Some don’t like to see that you own other properties, especially other Coops… Etc, etc, etc… Suffice to say, some Coops are more strict than others but you should always check to make sure you know what they’re looking for before you start selling. The last thing you ever want to do is accept an offer with just a pre-approval and think that’s all you need… Maybe with a house or condo, but not with Coops.

How Coop Values are Determined

house-and-condos-vs-coops-how-do-resale-values-compare

When we meet with Coop owners/sellers to help them appraise their apt, it is sometimes a surprise how we come to our valuation. Usually Coop owners understand that the best comps are the ones in their development. This is 100% true for a few reasons… 1) A bank appraiser will always look for comps in the same building and those will always weigh the heaviest in an appraisal report. They really don’t like to use comps from outside the building so they will go even further back if they have to find something. 2) Buyers have all the same data as agents, sellers, etc. In other words, they (like you) can see all of the recent sales in your building when they’re on Trulia, Zillow, etc. so it’s very hard to justify a large difference in price for another comparable unit in the same building and which are typically very similar in size. Early in our careers, we tried to help Sellers get more money because apts nearby were selling for more than the ones in their building, however, we ended up learning a harsh lesson that Coop sales in the same development are always the clearest indicator of value.

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Renovations Add Value, but not As Much as they do in Houses

queens-coop-renovations_return-on-investment

When it comes to Coops, renovations & upgrades add value, but unfortunately, it is usually very limited. In our experience, renovations will not add more than $20-$30K (in most cases). In other words, when we comp out Coops, the sales usually range from the original condition units at one price, and the renovated units at another, typically $20K – $30K higher. As a rule of thumb, try to keep kitchen renovations under $15K and bathroom renovations under $5K, that will ensure that you at least recoup the money you spent.

To put this into perspective, let’s say you own a 1 BR Coop on the sixth floor of your building, and the highest sale price for a 1 BR in the building (within the last 6 months) is $190K, another 5 units sold from $165K – $185K. As in most cases, that sale probably had a renovated kitchen and renovated bath, that’s why they were able to fetch top dollar. Let’s say that unit was on the third floor (3 floors down), but aside from that, everything was pretty similar. Now, your apt is fully renovated, DIAMOND condition! Quartz counter tops, viking appliances, mirage hardwood floors, marble bath, spa shower, perfectly staged, etc… You spent about $50K to renovate that apt, and it looks amazing! The problem is, that the highest you can probably justify for that apt (in my opinion) is around $200K-$210K. The reason why you are limited to a “max sale price” is because you have to sell it to the bank too. In other words, the deal still has to appraise, otherwise you run into problems. With that said, put yourself in a bank appraiser’s shoes and imagine how hard it would be to justify $50K in added value from an apt that is in the same building and similar in size. The answer, it is very hard. Maybe you can get $10K-$15K for the kitchen and $5K-$10K for the bath, but anything over that may be a reach because appraisers typically classify the condition of properties as “poor”, “fair”, “good”, and “excellent”. There’s no section in an appraisal report for all of your personal preferences, high end materials, etc. Moral of the story, don’t go crazy with your renovations unless your okay with the possibility of not getting the dollar for dollar return. Trust us, we’ve met with owners who put up to $100K into a small apartment only to realize that there is no way they’re getting that back from a sale.

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Certain things can Affect Financing in your Building/Development

Something important to know is the fact that Coop bank deals, like many Residential bank deals, follow certain Fannie Mae and Freddie Mac guidelines. I won’t pretend to be an expert in Coop financing, but I can tell you what issues we run into more frequently so that you can hopefully preempt and avoid them… One of the issues that can affect financing in your development is if more than 50% of the units are rent occupied… Another issue is if over 10% of the units are sponsor owned… And another common issue is if the Coops financials don’t look good. For example, if the financial stmts, reserves, budget, etc. don’t look healthy, banks may not be willing to lend there. These items are important to know because if your Coop is facing any of these issues, you may need to find a cash buyer which means your pricing will need to be more aggressive otherwise you may sit on the market for a while. And contrary to popular belief, cash buyers are not running out in drones to buy Coops. I would say 95% of the coops we sell are to buyers obtaining loans.

Some Things are out of your Control

We sell so many Coops that we unfortunately get to see a whole bunch of different situations which cannot be explained nor justified. For example, we sold an apt in one development where “supposedly” they didn’t want to sell to any single males because they had a problem with people in the past throwing parties and making too much noise. Then there was another one where we heard that the board wanted to change the demographic of the building so they were only selling to a certain demographic and denying all other applicants. We also had one where the board kept denying our buyers because the managing agent owned the apt upstairs from our unit and she wanted to buy it in order to convert it into a duplex. Another Coop supposedly wouldn’t sell to retirees. Moral of the story, when you sell a Coop you are unfortunately at the mercy of the board, and if there are any inner workings going on that you don’t know about, your buyer may get denied. In all honesty though, most Coops run a smooth and non-bias operation. However, there are some developments out there that are doing some shady, discriminatory, and sometimes even criminal activities. Obviously you can’t control that, but when you decide to sell, it’s not a bad idea to talk to some board members and get as much advice as possible before you hit the market. One thing that is always helpful is having a good relationship with a board member and the management company. We’ve seen these type of relationships help Coop owners in many ways during the selling process.

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The Importance of your Original Stock Certificate

queens-coop-stock-certificate-sample

This is your proof of ownership and it is very important for you to have the original when you go to sell a Coop. If you have a current mortgage on the apt, than your lender will most likely have the original, however, we have seen cases where the loan was sold or transferred to another bank and then the stock certificate was lost in translation. That deal ended up falling apart because it took too long to track down the original stock certificate. Therefore, it’s a good idea to locate the stock certificate early because if you wait until you find a buyer, you may run into an issue that delays contracts which means risk of losing your buyer altogether…

Your Offering Plan and what Happens if you Don’t Have It

queens-coop-offering-planThe offering plan for your building is the prospectus of the building when it was originally converted into Coops. In short, it’s that big book you received when you bought the apt. If you remember the book but didn’t keep it or don’t know where it is, you will need to purchase one because that, along with the last two years financials, are what most buyer attorneys will ask before going into contract with you. The only exception is if your development was originally built as a Coop in which case there would not have been an offering plan… Also good information to know 🙂

Well, we hope you find this information helpful. If you have any questions or would like some advice before selling your Coop, feel free to reach out anytime…

Blog & site courtesy of George and Abigail Herrera with the Queens Home Team at Keller Williams Realty Landmark II.

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This Month in Queens Real Estate: August 2016

by George Herrera, Realtor & Listing Specialist with the Queens Home Team at Keller Williams Realty.

August 2016 Market Update

Queens_Real_Estate_Market_AUG_2016

Home sales in July dropped again for the fifth consecutive month. Despite the drop in transactions, home price increases have 2016 on track to be the best year for home prices since the recession. Near rock-bottom mortgage rates continue to lure more and more buyers into the market despite steadily rising prices and low inventory levels, however, the consistent decrease in year over year sales could be a sign. We may be seeing more people escape Queens as a result of the high prices, or we may be seeing a sign of consumer uncertainty as a result of the political elections. Either way, it will be interesting to see what happens through the third and fourth quarters of this year.

Absorption Rate: 647 sales/per mo.

Current Available Inventory: 3,763 (Last month: 3,812)

Month’s Supply: 5.8 Months

Last Month: 5.7 Months

Last year: 6.9 Months

*Month’s supply over 6 months is said to favor buyers, month’s supply below 6 months is said to favor sellers, and month’s supply of 5-6 months is said to be a balanced market. Keep in mind that month’s supply can vary by neighborhood and property type.

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Interest Rates

Interest_Rates

Interest rates decreased slightly from the month prior and remain near all-time lows. Mortgage rates have declined recently due to the drop in U.S. Treasury rates created by the uncertainty surrounding the U.K.’s vote to leave the European Union.

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Queens Home Sales

Queens_Real_Estate_Market_Home_Coop_Condo_Sales_2016

The Long island Board of REALTORS® reported Queens home sales at a seasonally adjusted annual rate of 607 homes during the month of July. This was a decrease of 12.8 percent from June, and a decrease of 18.3 percent from July of last year.

Specifically, Residential 1-3 family Queens home sales were down 16.8%, Queens Condo sales were down 15%, and Queens Coop sales were down 19.2% compared to this time last year. Over the last 12 months, Queens home sales are down .2%.

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Queens Home Prices

Queens_Real_Estate_Market_Home_Coop_Condo_Prices_2016

The median home price reached a record $478,000 in July, which was up 2.7 percent from June and up 13.3 percent from July of last year.

Specifically, Residential 1-3 family Queens home prices were up 11.9%, Queens Condo prices were up 4.3%, and Queens Coop prices were up 16.7% compared to this time last year. Over the last 12 months, Queens home prices are up 7.3%.

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Queens Housing Inventory

There was a 5.8-month supply of housing inventory in July, which increased slightly from June. The total number of homes for sale decreased by 16 percent compared to August of last year. Strong demand spurred by dropping interest rates will likely keep inventory levels suppressed, particularly in the Queens starter home market.

Specifically, there are currently 2,395 residential 1-3 family homes for sale, 385 Condos for sale, and 982 Coops for sale in Queens county.

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Blog Courtesy of George & Abigail Herrera w/the Queens Home Team at Keller Williams Realty Landmark II. 

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4 Programs that Queens Home Buyers Should be Aware of

Illustration depicting a sign with a first time buyers concept.

Illustration depicting a sign with a first time buyers concept.

by George Herrera, Realtor & Co-Owner of the Queens Home Team at Keller Williams Realty.

We come across aspiring home buyers all the time in this business. Whether it’s young couples browsing around at open houses, people who call us with questions about the process, or even some of our own personal friends who have their own hopes of owning a home, coop, or condo. What we’ve learned from our experience of selling homes here in Queens is that where there’s a will, there’s a way. The reason we know this is true is because we’ve sold homes to buyers with very moderate income but they are determined to buy, and they explore & utilize every resource available to them in order to accomplish their goal. This includes saving money, credit repair, as well as the several first time home buyer programs available in NYC, and in the USA.

Remember, where there’s a will there’s a way. The first step to home ownership is deciding that you ARE going buy a home. Once you’ve made that decision, take the steps necessary to reach your goal. It may take a few years, but if you have a steady job, with decent credit and a little savings, there’s no reason why you can’t make the dream a reality. What I’ve noticed more than anything is that some people are just determined to buy something, and eventually, they do end up buying because there are just so many options out there.

With that said, below is a list of some first time home buyer programs that we’ve seen people use to purchase homes here in Queens. Take a look and then put yourself on the path to home ownership. If you need any help or advice, feel free to Contact Us and we can connect you with one of our Queens first time home buyer specialists…

1. HomeFirst Down Payment Assistance Program

NYC HPD LogoHPD’s HomeFirst Down Payment Assistance Program provides qualified home buyers with up to $15,000 toward the down payment or closing costs on a 1-4 family home, a condo, or coop in one of the five boroughs of New York City.

Who Qualifies?

In order to qualify for this down payment assistance program you must:

  • Be a first time home buyer
  • Complete a home buyer education course
  • Have your own savings to contribute to the down payment or closing costs
  • Meet the program income eligibility (see below)
  • Buy a 1-4 Family Home, Coop, or Condo in NYC
  • Pass a Housing Quality Standards (HQS) inspection before purchase
  • Live in the home for at least 10 years

Income Eligibility

  • Family Size: 1
    • Max Household Income: $50,750
  • Family Size: 2
    • Max Household Income: $58,000
  • Family Size: 3
    • Max Household Income: $65,250
  • Family Size: 4
    • Max Household Income: $72,500
  • Family Size: 5
    • Max Household Income: $78,300
  • Family Size: 6
    • Max Household Income: $84,100
  • Family Size: 7
    • Max Household Income: $89,900
  • Family Size: 8
    • Max Household Income: $95,700

More details about the process can be found online at: https://www1.nyc.gov/site/hpd/owners/homeowner-downpayment-assistance.page

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2. NYSAR Housing Opportunities Foundation Grant 

NYSAR Housing Opportunities Foundation GrantThe New York State Association of Realtors Housing Opportunities Foundation, Inc. is an organization that was established to create and increase affordable housing opportunities for individuals to overcome the barriers of homeownership. Qualifying individuals apply for grants to assist with closing costs and/or down payments. The grants are gifts with no payback requirement and are available to low–to-moderate income families in New York State.

The Housing Opportunities Foundation has entered into arrangement with the Community Foundation for the Greater Capital Region who will receive and review applicants and award grants throughout New York State.

Who Qualifies? 

In order to apply for this grant you must:

  • Be a first time home buyer
  • Income must be no more than 110% of the SONYMA’s Low Interest Program target income limit for the applicant’s county as posted on the SONYMA website on the day the application is recieved.Details on Income Limits:  http://www.nyshcr.org/Topics/Home/Buyers/IncomeLimits/Programs.htm
  • Home prices must be no more than 110% of the SONYMA Low Interest Rate Program’s TARGET purchase price limit for the applicant’s county as posted on the SONYMA website on the day the application is received. Details on purchase price limits: http://www.nyshcr.org/Topics/Home/Buyers/PurchasePriceLimits/Programs.htm
  • Applicant must be purchasing an owner occupied property
  • Applicant must be working with a Realtor

More details about the program can be found online at: http://www.nysar.com/top-navigation/foundations-and-divisions/nysar-housing-opportunities-foundation/grant-opportunities

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3. SONYMA Mortgage Programs

SONYMA LogoParticipating Queens Lenders are: 

CitiBank
Queens
P: (516) 297-0041

Freedom Mortgage
Queens Village, Queens
P: (718) 217-7266

Wells Fargo
Astoria, Queens
P: (718) 310-4321

Elmhurst, Queens
P: (718) 310-4300

Forest Hills, NY
P: (718) 730-6100

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4. Neighborhood Assistance Corporation of America (NACA)

NACA-logo-flatThe Neighborhood Assistance Corporation of America (“NACA”) is a non-profit, community advocacy and homeownership organization. NACA’s primary goal is to build strong, healthy neighborhoods in urban and rural areas nationwide through affordable homeownership. NACA has made the dream of homeownership a reality for thousands of working people by counseling them honestly and effectively, enabling even those with poor credit to purchase a home or modify their predatory loan with far better terms than those provided even in the prime market.

The NACA program begins with attending a four hour workshop which covers the details of the program, and the additional 9 steps needed to qualify for the NACA mortgage. You can search for and sign up for a workshop at: https://www.nacalynx.com/naca/workshop/workshopIntro.aspx

For more details and information about the NACA program and home mortgage, visit:

https://www.naca.com/

Well, we hope that this information is helpful, and more importantly, we hope that you can see how realistic the dream of home ownership is if you make a concious decision, and commit yourself to the process…

If you have any questions or need any advice, feel free to Contact Us.

Site and blog courtesy of George & Abigail Herrera with the Queens Home Team at Keller Williams Realty Landmark II. 

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This Month in Queens Real Estate: JULY 2016

Queens Real Estate Market_July 2016by George Herrera, Realtor & Co-Owner of the Queens Home Team at Keller Williams Realty.

July 2016 Queens Real Estate Market Update 

Queens home sales in June decelerated for the fourth consecutive month. Strong demand and sustained ultra-low mortgage rates continue to overpower constrained inventory levels and a rising median sales price. Prior to March, we were seeing an uptick in home sales, however, since then, we have been seeing sales decline, which can most likely be attributed to the low inventory levels across the county.

  • Absorption Rate: 674 sales/per mo.
  • Current Available Inventory: 3,812 (3,861)
  • Month’s Supply: 5.7 Months
  • Last Month: 5.9 Months
  • Last year: 7 Months

*Month’s supply over 6 months is said to favor buyers, month’s supply below 6 months is said to favor sellers, and month’s supply of 5-6 months is said to be a balanced market.

Click Here for a List of Exclusive Homes for Sale in Queens

Interest Rates

Interest_Rates

Interest rates decreased slightly from the month prior and remain at historically low levels. Mortgage rates have recently declined due to increased uncertainty surrounding the global economy prompted by the UK voting to leave the European Union.

Queens Home Sales

Queens_Real_Estate_Market_Home_Coop_Condo_Sales_2016The Long Island Board of REALTORS® reported Queens home sales at a seasonally adjusted annual rate of 674 homes during the month of June. This was an increase of 5.8 percent from May, and a decrease of 8.2 percent from June of last year.

Specifically, Residential 1-3 family Queens home sales were down 1.7%, Queens Condo sales were down 16.4%, and Queens Coop sales were down 15.8% compared to this time last year. Over the last 12 months however, Queens home sales are up 1.4%.

Property-appraisal-buttonQueens Home Prices

Queens_Real_Estate_Market_Home_Coop_Condo_Prices_2016The median home price in Queens reached a record $470,000 in June, which was up 4.4 percent from May and up 19.4 percent from June of last year. The median home price in Queens has increased by nearly $76,250 in the past year alone.

Specifically, Residential 1-3 family Queens home prices were up 11.6%, Queens Condo prices were up 10.5%, and Queens Coop prices were up 2.3% compared to this time last year. Over the last 12 months, Queens home prices are up 7.5%.

Click Here for a Free Market Report of your Queens Neighborhood

Queens Housing Inventory

There was a 5.7-month supply of Queens housing inventory in June, which remained pretty flat from May. The total number of Queens homes for sale decreased by 12 percent compared to June of last year to 3,812 homes county wide, which was 521 fewer listings than June of last year.

Specifically, there are currently 2,458 residential 1-3 family homes for sale, 365 Condos for sale, and 989 Coops for sale in Queens county.

To put things into perspective, here is a list of active homes for sale in July over the last 5 years:

  • July 2016: 3,812 Queens homes for sale
  • July 2015: 4,333 Queens homes for sale
  • July 2014: 5,760 Queens homes for sale
  • July 2013: 6,123 Queens homes for sale
  • July 2012: 8,429 Queens homes for sale

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Blog Courtesy of George & Abigail Herrera w/the Queens Home Team at Keller Williams Realty Landmark II. 

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How to Throw a Block Party in Queens

block_partyBy George Herrera, Realtor & Co-Owner of the Queens Home Team at Keller Williams Realty.

A Block Party is defined as a community sponsored, public event where there are no sales of goods or services. Block parties are limited to one block and one day. If you have always wanted to throw a block party but just didn’t know where to start, keep reading. This list will give you everything you need to know about throwing your very own Queens Block Party!

Step 1.
Submit Application & Petition

You have to submit your Queens Block Party application at least 90 days in advance of the event. The application process always begins with filling out the necessary form which includes information about yourself, the event date, time, etc. The application typically includes a wide variety of questions from whether you plan to have tents, celebrity appearances, etc. Once your application is submitted, the Street Activity Permit Office (or SAPO) will review it along with your community board and comment on whether the event warrants closure of that block. Most Queens Community Boards will also require that you get the consent of a certain percentage of residents via a petition so that’s a good idea to work on before hand. Below are links to the Street Activity Permit Office site as well as the Block Party Permit Application…

Street Activity Permit Office Home Page: http://www1.nyc.gov/site/cecm/about/sapo.page

Block Party Permit Application: https://nyceventpermits.nyc.gov/cems/login.aspx

NOTE:
A permit can close a street for up to 9 hours, although you can’t party later than 9 or 10pm. In addition, the block you choose to throw your party on must be in the neighborhood where you currently live.

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Step 2.
Approval or Rejection

approved-rejected-stamp-21102653If you want to increase your chances of being approved, it is suggested that you contact your Queens community board first in order to get some guidance and (or) advice on the event. Getting your community board’s support from the beginning will help you as you move through the process. Keep in mind that in general, permits for parties on blocks that are located at busy intersections or on streets where buses run will most likely not be approved. In those cases, your community board may suggest an alternative street nearby or you can plan for that ahead of time and think of a few alternatives. Timing conflicts can be another issue so prepare to have some back up dates as well.

Queens Community Boards: http://www.nyc.gov/html/cau/html/cb/queens.shtml

Click Here for a List of Exclusive Homes for Sale in Queens

Step 3.
Once Accepted

If your application is accepted by the Community Board, it will then go to the NYPD and FDNY for review. Each agency will review your application and check for any permitting issues like sound permits, etc.

Property-appraisal-buttonStep 4.

Trash Removal

trash removalIf you set up and host the block party in your area, you or your team will be responsible for leaving the block the same way it was before the party. There are two ways to ensure this, you can either do your own pre and post party clean up, or, you can hire the Dept of Sanitation to bring in a mechanical broom, collection truck, etc.

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Additional Information you should be Aware Of:

  • A block party is a community sponsored, public event where there are no sales of goods or services. Block parties are limited to one block and one day.
  • Applications must be submitted 90 days prior to the event
  • Applicants must be a member of a block association and given permission by their neighbors
  • Limited to one day and one block
  • Rain dates are not permitted
  • Event must be open to all neighbors on the block; not a private party (e.g. a birthday party)
  • Cannot charge a fee to participate or fundraise
  • You may not sell food or other goods and services
  • Alcohol, vendors, commercial branding and sponsorships are not permitted at block parties.
  • Depending on what you plan to have at your block party, you may require additional permits. All other agency permits must be obtained before SAPO can grant your street activity permit Examples include:
    • Rides and inflatables, such as truck mounted rides and bounce houses require a permit from the Department of Consumer Affairs and insurance. The ride company that you hire should provide this documentation.
    • Petting Zoos or other non-domesticated animals require a permit from the Department of Health and insurance. The stable or farm where you rent the animals should provide this documentation.
    • Raffles or donations require a permit from the Human Resources Administration
    • All amplified sound, such as background music, musical performances or speaking programs, requires a permit from the New York Police Department
    • Generators require a certificate from the New York Fire Department. When generators are over 40kw they also require a certificate from the New York Department of Environmental Protection

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Blog & Site Courtesy of George and Abigail Herrera with the Queens Home Team at Keller Williams Realty Landmark II.

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Two Family Home for Sale in East Elmhurst Queens

by George Herrera, Realtor & Co-Owner of the Queens Home Team at Keller Williams Realty.

What: Two Family House for Sale in East Elmhurst
Where: 31-39 84th St, East Elmhurst, NY 11370
When: Just Listed
Price: $799K

1East Elmhurst Homes for Sale_East Elmhurst Real Estate_Homes for Sale in East Elmhurst NY_East Elmhurst Queens (48)Today we introduce you to the latest Queens Home Team listing for sale in East Elmhurst. This house is a two family semi detached home located at 31-39 84th St. The property’s building size is 18 x 47.56, sits on a 22 x 100 lot, and features a two car garage & full finished basement.

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The House 

13East Elmhurst Homes for Sale_East Elmhurst Real Estate_Homes for Sale in East Elmhurst NY_East Elmhurst Queens (34)As you pull up to the house you’ll notice that it has very good curb appeal, and it is planted on one of those nice tree lined streets where all houses are fairly uniform. This usually gives off a very neighborhood feel as opposed to those streets where you see a 5 story condo next to a single family home. As for the house itself, according to NYC, this house has 1,712 square feet of living space, not including the basement. The first floor features a large eat in kitchen, full bathroom, large bedroom, spacious living room, and small alcove.

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The Layout

9East Elmhurst Homes for Sale_East Elmhurst Real Estate_Homes for Sale in East Elmhurst NY_East Elmhurst Queens (24)There are two entrances into the first floor of the house, one at the front and one at the back. If you walk in through the front entrance you will wak right into a small alcove which can be converted into a small bedroom or office if desired. Keep walking forward and you are in the living room, then you have a hallway on the left and large bedroom on your right. Towards the back of the house you have a large kitchen to your right, full bathroom to your left, and the second entrance. As you walk up the stairs and enter the second floor, you’ll notice the spacious eat in kitchen directly in front of you, a large bedroom & full bathroom to your left, and a very large bedroom/living room to your right.

Property-appraisal-buttonThe Transportation

17East Elmhurst Homes for Sale_East Elmhurst Real Estate_Homes for Sale in East Elmhurst NY_East Elmhurst Queens (41)Within a block of this property you can access the Q33 which provides local service from 95th St in East Elmhurst to 74th St in Jackson Heights. This local bus gets you to the Roosevelt Ave station where you can catch the 7, E, F, M, and R trains.

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The Location

19East Elmhurst Homes for Sale_East Elmhurst Real Estate_Homes for Sale in East Elmhurst NY_East Elmhurst Queens (20)East Elmhurst one of the hidden gems in Western Queens. It’s known for it’s suburban like neighbrohoods, low density living, and proximity to Laguardia Airport. East Elmhurst actually consists if three different subdivisions in two separate zip codes. 11369 is further east beginning at 86th St and moving east all the way to the point where Astoria Blvd meets Northern Blvd. 11370 on the other hand, is closer to Astoria, Woodside, and Jackson Heights. It also encompasses two neighborhoods, Upper Ditmars (north of Astoria Blvd) and the rest of East Elmhurst 11370 (south of Astoria Blvd between Northern and Astoria Blvd). This section is a great neighborhood with plenty of convenience at your fingertips. This particular house is located off of 31st Avenue and 84th St. Two blocks north you have a playground and two blocks south you have Northern Blvd which features an array of grocery stores, restaurants, shops, etc. in addition, seven blocks west of this property you have a large shopping plaza that includes a large grocery store, post office, pharmacy, and much more. Shoot down 31st Ave heading west and you can easily access Woodside, Astoria, and Long Island City.

To schedule a viewing of this property please contact the Queens Home Team Listing Manager at 347-846-1178 or ana@queenshometeam.com

Thinking of Selling? Click here for a Free Consultation

Blog and site courtesy of George and Abigail Herrera with the Queens Home Team at Keller Williams Realty Landmark II.

George and Abigail Herrera_Queens Home Team at Keller Williams Realty 2_HEADSHOT_ROUNDBUY: www.exclusivequeeenshomes.com | SELL: www.queenshomeselling.com

New Single Family Home for Sale in Astoria Ditmars: 23-74 38th St, Astoria, NY 11105

by George Herrera, Realtor and Co-Owner of the Queens Home Team at Keller Williams Realty.

15Astoria NY Homes for Sale_Homes for Sale in Astoria NY_Astoria Ditmars_Astoria Queens Real Estate_Astoria Ditmars Homes for Sale_11105 (37)Price: $875K

Welcome to the newest Queens Home Team listing for sale. Today we introduce you to a unique single family home in Astoria Ditmars. The property sits on a 20 x 100 lot, detached on all sides, and located at 23-74 38th St. The features of this house are charming to say the least. The layout is ideal, the size is perfect for a family, and the location, well, if you know anything about Queens, then you probably know that Astoria Ditmars is one of the most vibrant & thriving communities around New York City. Access to the N & Q lines at Ditmars Station is merely .3 miles away so transportation is at your fingertips. Take a stroll down 38th St and you will run into the heart of Ditmars Blvd which offers an array of restaurants, grocery stores, boutique shops, and much more. Head west on Ditmars and you will run into one of the most beautiful parks in Queens, Astoria Park. So much to say about the location, but a quick Google search for “Astoria Queens” or Astoria Ditmars” will lead you to endless articles and websites dedicated to this high demand neighborhood with convenient access to everything one can ask for.

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The House

4Astoria NY Homes for Sale_Homes for Sale in Astoria NY_Astoria Ditmars_Astoria Queens Real Estate_Astoria Ditmars Homes for Sale_11105 (18)When you pull up to the house you can immediately notice that this is not your typical one family house. For starters, the house is set back about 75 feet from the street. In other words, you have a huge front yard which includes a deck, garden, and intimate patio ideal for relaxation. In addition, the one car garage, private driveway, and 8 foot trees are towards the front of the house. This is great because it gives you the barriers needed for the much desired privacy people look for in their yard. When you get to the front of the house, you’ll notice that the brick work is very unique to the neighborhood as well. Dark grey bricks give this house a look and feel that is more modern and contemporary than the classic new york red bricks seen throughout the area. As you walk into the house, you’ll notice that these ceilings are much higher than your typical 8 foot ceilings. In fact, these ceilings are 10 feet high on the first floor, and 9 feet high on the second. You can already imagine how airy it feels throughout the house with these high ceilings. As the cherry on top, you have R5 zoning so if you ever wanted to expand the property, the potential is there.

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The Layout

14Astoria NY Homes for Sale_Homes for Sale in Astoria NY_Astoria Ditmars_Astoria Queens Real Estate_Astoria Ditmars Homes for Sale_11105 (25)The layout is typical of a one family home, you walk into an entry foyer with stairs to the second floor on your left, living room to your right, and dining room & kitchen towards the back. The first floor also features a full bathroom and access to the basement. On the second floor you have three full size bedrooms and a second full size bathroom. Several windows throughout the home provide plenty of sunlight in the house. The basement is a full partially basement that would be perfect for an entertainment or recreation room.

Property-appraisal-buttonThe Condition

8Astoria NY Homes for Sale_Homes for Sale in Astoria NY_Astoria Ditmars_Astoria Queens Real Estate_Astoria Ditmars Homes for Sale_11105 (29)
When you walk in the house you will notice that the kitchen, floors, walls, and bathrooms are all in great condition. No work needed here, truly turn key. Everything about this house is beautifully designed for high quality living. The owner has a modern rustic taste that you can notice throughout the home.

Click Here for a List of Exclusive Homes for Sale in Astoria Ditmars

2Astoria NY Homes for Sale_Homes for Sale in Astoria NY_Astoria Ditmars_Astoria Queens Real Estate_Astoria Ditmars Homes for Sale_11105 (23)We truly hope you will come visit this beautiful home because in order to really appreciate it’s charm, you really must see it in person. For additional information or to schedule a viewing, please call George or Abigail Herrera, Realtors and Owners of the Queens Home Team at Keller Williams Realty Landmark II.

Thinking of Selling? Click here for a Free Consultation

Courtesy of George & Abigail Herrera
G: 718-869-0270 | A: 718-968-5538
E: queenshometeam@kw.com
W: http://www.queenshometeam.com

George and Abigail Herrera_Queens Home Team at Keller Williams Realty 2_HEADSHOT_ROUNDQueens Home Team at Keller Williams Realty | 75-35 31st Ave, Ste 202 | Queens, NY 11370