“For buyers of brand new condos, 19 crucial questions”

After reading it, I found that most questions are “usual” questions (1-3, 5-12, 14) one should or would ask. However, there have been some changes in the new condominium market and there were some good questions that are indeed important to ask in today's new construction world.

With reference to the article:

4. Any closing costs I should know about (e.g. a super's apartment)?

You should always inquire to see if there any extra closing costs above & beyond the usual sponsor fees: attorney and transfer taxes. You do not want to run into any unexpected significantly extra expenses late in your purchase. Your attorney is able to verify this information prior to signing a contract.

13. What kind of retail will the building have?

The question you should ask is will there be any retail or other commercial space in the building and if so, what will it be? You do not want to have any noisy and odorous or otherwise unpleasant neighbors...

15. What's the source of heat and air conditioning?

Usual question but not always asked. I would even go a step further and ask how many zones for heating & A/C are in the particular apartment of interest. For example, a one bedroom may have only 1 zone when you may want 2 for more precise temperature control..

16. What's the soundproofing like between apartments?

Excellent question to be asking, I actually had a situation where building soundproofing was so insufficient, some major pipes were making noise in the high floor apartments and the developer had to go back into the walls and do more soundproofing. It's important to also consider building function and mechanical noises as well as adjacent apartment noises.

17. What's the experience of residents so far?

Tough question. Tough answer. If you're buying into a building before it is built, this question is moot. If there is already occupancy in the building, you could sit in the lobby (if building will allow and/or if you are comfortable doing so); however, many people are reluctant to discuss certain things with strangers. This goes back to the question of knowing the developer’s track record. If you're dealing with a developer who has a track record, easy enough. If it’s a smaller or lesser known developer, it may be more difficult.

The best bet is to go to Department of Buildings (DOB) website and, if the building is constructed, check for any existing complaints. The fact remains that there is always a risk when buying sight unseen. Once a Board of owners is “in control”, owners are in a strong position to confront any issues with the developer. How successful owners are in finding remedy refers back to who the developer is. Worse case scenario - most typically in a smaller building where the costs are not as great as in a larger building and where more typically you will have a small or inexperienced developer, the cost of repair or replacement is divided amongst owners.

“We plan to open Amazon Go in New York,” an Amazon spokesperson told TechCrunch. And that’s basically it for the statement. No information on key details like launch timeframe here, but at least the company really cut to the chase on this one.

The stores are a bit of an experiment for the company, which has been dipping its toes into the brick and mortar experience. Announced during the 2016 holiday season, Go still feels like a novelty for retail. The concept ditches cashiers, instead relying on cameras to track shoppers and charging their account when they walk out the door.

The New York store will be Amazon’s first outside of its native Seattle. Amazon does already have a retail presence, courtesy of a pair of bookstores in Manhattan."

-TechCrunch (September 07, 2018)

Read the full article on TechCrunch here.

Yes - IF only the buyer has signed.

If you are experiencing multiple offers on the sale of your property, it would be best to have an experienced broker handle this scenario. A savvy broker, prior to signing any contract will provide the best incentive for the particular market to bring offers up higher. Then she/he will verify from whom the best offer is coming, and will send a contract out to that best offer while keeping other offers in sequence & close-by incase the accepted offer does not sign the contract.

This is a simplistic view of all the negotiations and maneuvers that a sharp broker makes while not losing any offers or interest on the property and bringing you to a signed contract quickly - while YOU accept the highest offer from interested buyers.

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