by Laura Matiz 

There are two infrastructure projects underway on the Upper East Side. One of them is quite obvious on Second Avenue. (See: NYC Underground: New Transit Projects.) There, the new subway line installation requires massive equipment. A high level of street-side disruption is clear. Sidewalks, crosswalks, and businesses along the thoroughfare are greatly affected.

Along Third Avenue is the second infrastructure project. It is so unobtrusive that most people are unaware that it is already active and running. Of course, I am writing about the ambitious LinkNYC Public Wi-Fi program.

The LinkNYC web site explains that in 2014, the mayor's office announced a competitive request-for-proposals to reuse the ubiquitous pay-phone infrastructure to offer New Yorkers free Wi-Fi and phone calls. The city awarded CityBridge, a consortium of technology, media, user experience and connectivity companies, a 12-year franchise.  LinkNYC offers super fast Wi-Fi — a hundred times faster than average public Wi-Fi — across New York City connecting about 7,500 kiosks. The free service will be supported with advertising.

LinkNYC has also been rolled out along Eight Avenue and will continue to expand in Manhattan before heading out to the other boroughs. A LinkNYC map provides information on kiosk locations. Connecting is quite simple and anecdotally, speeds have been impressive. See the video below explaining how to connect to LinkNYC. Happy surfing. 

Categories: Policy, Technology, Tips, Transit

by Laura Matiz

Going to an open house can be a hit-or-miss situation, but if you go prepared with the right questions, even an overcrowded affair can be useful to assess the unit with the few minutes you get with the listing agent. It is likely that that agent has done a fair amount of research in preparation to list the apartment. This may be your best opportunity to benefit from that agent's research while in the apartment.

Here are six topics that I want my customers to understand during an open house visit. You are trying to question the agent running the open house for the good and the bad, and possibly the ugly about the property.

While walking around the unit, ask the agent:

1. To describe what he or she thinks is the key selling point of the unit. You are looking for what they have assessed as the unit's best value or feature. Is it the price, the space or layout, or the view? The agent's response will help you understand how the unit is being marketed against comparable units.
2. To enumerate any specific financial requirements from the coop board. Does the building require a specific debt-to-income ratio? Or, does the board look for a liquid reserve of two year's worth of maintenance and mortgage post closing, or more? You are trying to get a feel for how tough or difficult the board approval will be.
3. To reveal any surprises such as a soon-to-be-announced maintenance increase or assessments for a building capital improvement.
4. To assess how the agent arrived at the listing price and seller's negotiability. The agent should be able to offer comparisons with recent sales in the building or nearby. You want to understand if the unit has been priced high, or does the agent think the unit is priced to sell quickly.
5. To highlight valuable amenities. You are looking for what the agent considers worthwhile amenities so you can ignore a gym that is  dark and dank in your evaluation. A roof deck sounds most appealing as long as it isn't next to a loud a/c.  Only amenities that add value to the apartment should be taken into account, such as a good-sized storage bin, or a well-run pool. Too many buildings list amenities that don't add any value.
6. To provide insight into the building's reputation. You want to understand how the board, the managing agent, and super work as team. You want to question  how the agent feels about the building's staff and how they conduct their duties. Ask if the super lives in the building and runs a tight ship or does the agent hint at a staff that is jaded and unresponsive.
   

Some of these topics may need to be addressed indirectly and subtly, but if you get good responses, by the end of your visit, you will have a better feel for the unit's value. If any of these questions are unanswered after the open house, they should be the basis  of follow up research.