A New York property transaction moves quickly and the terms that matter are usually settled before anyone reaches the closing table. Spahija Law represents buyers, sellers, landlords and tenants across Brooklyn and New York City, from a first apartment purchase to commercial leasing and litigation.
Real Estate Services We Provide
- Residential and commercial closings
- Contract drafting, review and negotiation
- Co-op, condo and townhouse purchases and sales
- Lease agreements and landlord tenant disputes
- Title review and due diligence
- Real estate litigation
Why New York Closings Involve a Lawyer
New York is an attorney state. Unlike much of the country, residential purchases here are customarily handled by lawyers on both sides rather than by a title or escrow company alone. The contract of sale is drafted by the seller’s attorney and negotiated by the buyer’s attorney, and the terms agreed at that stage govern everything that follows: the deposit, the contingencies, the closing date, what happens if financing falls through, and what the seller has to deliver.
By the time a problem shows up at closing, the contract usually decides who absorbs it. That is the reason to have counsel involved before signing, not after.
The Residential Closing Process
- Offer accepted. The seller’s attorney prepares the contract of sale.
- Contract review and negotiation. Your attorney reviews the contract, the offering plan or building financials where relevant, and negotiates terms including the mortgage contingency.
- Signing and deposit. A deposit, commonly around ten percent, is signed over and held in the seller attorney’s escrow account.
- Due diligence. Title search, survey where applicable, lien and violation searches, and review of building or association records.
- Board approval, if the property is a co-op.
- Loan commitment from the lender, then the clearing of any title objections.
- Closing. Funds transfer, documents are executed, and the deed or stock and lease change hands.
Co-op, Condo and Townhouse: What Actually Differs
These are three different legal structures and the difference affects your rights, your timeline and your financing.
Buying a co-op means buying shares in a corporation together with a proprietary lease, not real property. That brings a board application, an interview, financial scrutiny, and building rules on subletting and renovation. Boards can decline an application without giving a reason, within the limits of anti-discrimination law.
Buying a condo means taking a deed to real property. There is usually no board approval in the co-op sense, though many condos hold a right of first refusal. Financing and subletting are typically easier.
A townhouse or other one to four family house avoids board approval entirely, but shifts the diligence onto the building itself: certificate of occupancy, open permits, violations, and any illegal conversion.
Closing Costs and Taxes
New York closings carry costs that surprise first-time buyers and sellers. Depending on the property and the price, these can include New York State and New York City transfer taxes, the additional mansion tax on residential sales at or above one million dollars, mortgage recording tax, title insurance, bank and attorney fees, and building or managing agent charges. Rates vary by price band, property type and who is buying, so the numbers should be worked out for your specific transaction rather than assumed.
Landlord and Tenant Matters
We handle lease drafting and negotiation for residential and commercial property, and disputes including non-payment, holdover proceedings, habitability claims and lease enforcement. New York landlord tenant law changed substantially with the Housing Stability and Tenant Protection Act of 2019, and the procedural requirements are strict enough that cases are regularly lost on process rather than on the merits.
Title Review and Due Diligence
A title search can surface liens, judgments, easements, boundary problems, open permits, unresolved violations or gaps in the chain of ownership. Most are fixable if they are found before closing. Found afterwards, they become your problem as the new owner, which is why the diligence stage deserves real attention.
Spahija Law also handles criminal defense and personal injury matters across New York.
Frequently Asked Questions
Do I need a lawyer to buy property in New York?
In practice, yes. New York is an attorney state, and residential purchases are customarily handled by attorneys for both the buyer and the seller. The contract of sale is negotiated between counsel, and the terms settled there govern the rest of the transaction.
What does a real estate closing cost in Brooklyn?
Closing costs depend on the price, the property type and whether you are buying or selling. They can include state and city transfer taxes, mansion tax on residential sales of one million dollars or more, mortgage recording tax, title insurance, and attorney and lender fees. We give you a written estimate for your specific transaction.
How long does a New York closing take?
Most residential closings run somewhere between one and three months from signed contract, driven mainly by the lender and, for a co-op, by the board approval schedule. Cash purchases and clean title move faster.
What is the difference between buying a co-op and a condo?
A co-op purchase buys shares in a corporation plus a proprietary lease, and normally requires board approval. A condo purchase conveys a deed to real property and usually has no board approval in the same sense, though many condos hold a right of first refusal. Financing and subletting are generally easier with a condo.
Can you help with a landlord tenant dispute?
Yes. We handle lease drafting and enforcement, non-payment and holdover proceedings, habitability claims and commercial lease disputes for both landlords and tenants.