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New York real estate buyer's guide

Glossary of Terms

Alcove Studio Apartments are one- or two-room apartments with an ā€œLā€ shaped alcove, which is usually used as a sleeping area. These apartments may be more expensive than a straight studio.

Balcony is a small outdoor space generally located off of a living room.

Brownstones or Townhouses are often four to six floors and may be single-family homes or multiple-family dwellings. Most were built in the early part of the 20th century and are known for their charm, wood moldings and lovely outdoor space.

Junior Apartments are similar to convertible apartments in that they are typically apartments with an alcove adjacent to the living room.

Loft Apartments are usually large open spaces with high ceilings and large windows. Many have been converted from commercial properties and seldom have doormen or attended lobbies.

Maintenance is a monthly fee that is paid by every shareholder in a Co-op. The money is used to pay the expenses to operate the building, including heating oil, insurance on the building, staff salaries, water and real estate taxes.

Post-War Buildings were built from 1950s forward. Most have doormen, elevators and more modern architecture.

Pre-War Buildings were built before World War II and generally have large rooms and windows, high ceilings and hardwood floors. These can be doorman or non-doorman buildings.

Studio Apartments are one or two rooms that combine the sleeping and living areas.

Terrace is a much larger outdoor space than a balcony and is usually found in penthouse apartments or apartments that are set back. Terraces add a significant amount to the purchase price.

Walk-Up Buildings are no more than five stories high and do not have elevators or doormen.

 
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Know your New York City neighborhoods.

Part of choosing a new NYC apartment, condo, coop, or house is to choose the right location that suits you best. Every NYC neighborhood is like its own world with each having its own particular features and peculiarities. In New York City, you have a tremendously broad choice of these individually unique areas to live in, so we suggest that you pay attention to the details of each NYC neighborhood. Use our New York neighborhood guide for location information, area descriptions, and more.


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All information presented on this site regarding real property, for sale, purchase, rental and/or financing is from sources deemed reliable. No warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rentals or other conditions, prior sale, lease or financing or withdrawal without notice. Note: All dimensions and square footage are approximate for the most exact dimensions and square footage please hire your own architect or engineer.