HAPPY INDEPENDENCE DAY!
This July 4th will mark 243 years of independence. Did you know, July 2nd technically is when the legal separation of the 13 colonies from Great Britain occurred? The only reason the 4th is celebrated is because the actual statement on paper, or ‘declaration’ was approved and signed 2 days later on the 4th.
The 4th is always a fun time to BBQ, spend the day in a pool or at the beach with family and friends. It is one of my (Ronita’s) favorite holiday! We hope you enjoy some time off with your family and friends in honor of the freedom in this wonderful country we call home.
KRISPY KREME
As our readers know, The Luis D. Ortiz & Ronita Kalra Real Estate Team are extreme foodies! So when there was chatter about a Krispy Kreme opening we have never been more excited.
Everyone take a deep breath because the news is true…. Krispy Kreme is opening a flagship store in New York City! The 4,500-square-foot Manhattan-based shop at Broadway and 48th Street will be open 24 hours a day, seven days a week and have stadium-style seating inside the world's largest Krispy Kreme doughnut box.
Krispy Kreme is projected to open in NYC early 2020. This location is expected to serve more guests annually than any other location in the world. Who is coming with us?!
WHAT IS TITLE INSURANCE, AND WHY DO I NEED IT?
Title insurance isn't a legal requirement but it may be a closing requirement if a buyer is taking out a mortgage for a unit in New York City, although it won't apply to co-ops because of their unique shareholder structure. It’s real estate knowledge you need to know.
The common question that is always asked is what does title insurance cover? The payment covers you if you close the deal and then find there are outstanding liens on the apartment or any issues arising from former owners or open permits. Title insurance companies incur the costs and take on the responsibility of resolving these issues but they cover themselves from this ever happening by not insuring a property until all the title problems have been fixed.
When it comes to co-ops, instead of title insurance, you'd do a search to clear up any issues related to liens, or open permits.
PROPERTY OF THE MONTH
737 Park Avenue, Apt 15E
Summer means rental season and our team has just listed this beautiful full floor 5 bed 7.5 bath in Lenox Hill, Manhattan! This Park Ave rental could be yours for only $49,500 (monthly rent).
Residence 15E at 737 Park Avenue sits on one of the most elegant blocks within Lenox Hill in New York City. With a private landing, this expansive 5 bedroom and 7.5 bathroom residence is over 4,100 square feet and includes ample space for entertaining. This sun filled home has four exposures, a large entry gallery, high beamed 9 Ft. ceilings, solid oak flooring, casement windows, and central air throughout the entire apartment.
Contact us if you would like to set up a private showing in this gorgeous Lennox Hill luxury residence!
