Unit
A condominium unit is a separately conveyable real property interest (typically deeded) defined in the condominium declaration and associated plans. Units are taxed and transferred as separate real property interests rather than as shares in a corporation.
- Where it applies
- NYS / NYC
- When it comes up
- Closing; recording; assessment
- Property types
- Condos
Read more in the Knowledge Base
- Portfolio Pricing Matrix - Coordinating Rents Across Unit Types and Lease TermsLandlords
- Unit Mix Strategy - Optimizing Studio/1BR/2BR/3BR Allocation for Revenue and DemandLandlords
- Combined Unit Acquisitions - Structural, Legal, Board, and Alteration RiskBuyers
- Small Multifamily (2-4 Unit) Purchases in New York - Tenant Risk, Rent Regulation, and Hybrid Owner-Occupant UnderwritingBuyers
- True Vacancy Cost Calculator: Full Economic Modeling of Unit DowntimeLandlords
Condominium Governance
General information, not legal, tax or financial advice.