Are Child Safety Window Guards Required on the First Floor of a Brooklyn Brownstone?

Are Child Safety Window Guards Required on the First Floor of a Brooklyn Brownstone?

One of my favorite Landlord/Owners who I frequent work with to find quality renters for her property asked me if she was required to install window guards on the front windows of her fabulous brownstone.  She hoped not because aesthetically, they are not cute, and besides, the potential tenant that has an 8-year-old child will be living on the first floor.

The fact checker in me went straight to the web even though I was already pretty sure of Window Guardthe answer.  According to New York City law as set out by the Department of Heath and Mental Hygiene, window guards are required if a building has three or more apartments and a child 10 and under lives in that building, even if the child lives on the first floor. Every window in the apartment must have a window guard except windows leading to fire escapes.  Even windows in any public corridors must have window guards.

Beside the fact that it’s the law, window guards save lives.  Every year many children fall from windows in New York City.  Some of them die, many are very badly injured.  I advise all of the landlords and tenants I work with to make sure window guards are in place in their apartments if children of any age will be living there.  Last year in the Bronx a 14-year-old boy fell out of the window from the six floor.  At his age he should have known better, but children will be children.

The standard window guards that you can buy from Home Depot or Lowe’s are indeed ugly, as you can see from the one pictured above, but there a many dressier (which means more expensive) alternatives.

I think aesthetics are important.  Pretty things make us feel good, and a good-looking property has increased value but there’s nothing uglier than the death of a child that could have been easily prevented with window guards.

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Clinton Hill, Brooklyn Open House – 9/18 – 365 Clinton Ave, Apt 7A

OPEN HOUSE
365 Clinton Ave, 7A, Brooklyn, NY
Price Reduced! – $299,000

Sunday September 18 – 2:30 pm to 4:00 pm

365 Clinton Avenue, Apt 7A Livingroom

365 Clinton Avenue, Apt 7A Livingroom

365 Clinton Avenue, Apt 7A Kitchen

365 Clinton Avenue, Apt 7A Kitchen

365 Clinton Avenue, Apt 7A Bedroom

Spacious and well lit, this apartment has it all, a large living room and a bedroom that can easily accommodate a king sized bed.

There’s an additional room that can be used as a formal dining room, second bedroom or office; you choose. Parquet floors and large windows with fabulous views make this a comfortable and attractive home.

The kitchen has granite countertops, microwave and matching stove and refrigerator. The modern glass front cabinetry includes a wine rack.

The bathroom has a pedestal sink and rain water shower head. Five nice sized closets insure that you have plenty of storage space.

There’s a recently renovated laundry room on site and 24 hour security and maintenance staff. Storage and parking available.

If you can’t make it to the open house, feel free to call or text me at the number below or email me at the email address below.
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Clinton Hill, Brooklyn Coop Open House 9/18 – 209 Clinton Ave, 14E

OPEN HOUSE
209 Clinton Ave, Apt. 14E
$299,000

Sunday Sept 18 from 12:00 pm to 3:00 pm

209 Clinton Avenue, Apt 14E Livingroom

209 Clinton Avenue, Apt 14E Livingroom

209 Clinton Avenue, Apt 14E Kitchen

209 Clinton Avenue, Apt 14E Bathroom

209 Clinton Avenue, Apt 14E Bedroom

This sunny 800 Square Foot One Bedroom Co-op Apartment is spacious and inviting and situated right on the border of Clinton Hill and Fort Greene. Its three blocks for the famous Fort Greene Park and one block from Fort Greene’s Restaurant Row

Walk two blocks to the G Train. Six blocks to the C Train. 20 mins to Downtown Manhattan. 5 Mins to Downtown Brooklyn. Bus service – B38, B52 and B54. Pratt, St Josephs College, Metrotech and Long Island University all in walking distance!!

It has 7 Closets, that’s right 7!!

Formal dining area.

24 Hour Security.

Laundry Rooms on site.

Storage and Parking Available

Manhattan Views!!

If you can’t make it to the open house, feel free to call me, text me, or email me at the number or email address below.

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Real Estate Investing – An Example of a Cash Flowing Investment Property in Brooklyn, NY

I’ve heard many investors say that you just can’t find properties that will cash flow in New York City and that you need to buy out of state if you want to be a successful buy and hold (landlord) investor.  That is just not so.  There are many investors who have gotten rich by owning rental property right here in all five boroughs of New York City.

Well here is an example of a four family brownstone that is for sale at the date of this blog post that has a monthly cash flow (profit) of  $3,100 a month (and that’s with a mortgage) for the potential new owner.

The property is located on in Fort Greene Brooklyn.  It has 4 units, all two bedrooms and two of the units have a ½ bath in the master bedroom.  One has roof deck access, the other back yard access.  It is 20’ x 35’ in size totaling about 2,800 square feet of living space.   There are two things that make this property cash flow so well, location and smart renovation.

Location -  Fort Greene is currently one of the hottest areas in Brooklyn, right on par with Williamsburg and Park Slope.  In my real estate office, which is located in Fort Greene, we have several walk-ins daily looking for apartments in the area, so many that there aren’t enough properties to accommodate them all.  I recently rented a really fabulous 1 bedroom for $2000 a month that went from being available to lease signing in three days.  This cash flowing property I’m discussing has an additional benefit of being within three blocks of a subway station.

Smart Renovation -  This is a great buy and hold property because it has been renovated with wisdom.  Every apartment has its own spit AC/Heating System, so the landlord is not responsible to provide, and best of pay for, heat, hot water and of course electricity.

So here are the monthly statistics for this property:

Current Monthly Rent Roll -  $   11,500
Vacancy Allowance of 6%  $       690
Total Income  $     10,810
Expenses
Taxes  $       550
Insurance  $       250
Water/Sewer  $       125
Electricity  $       100
Maintenance $50 per unit  $       200
Budget for Replacements  $       200
Total Expenses  $        1,425
Offer Price  $1,550,000
20% Down payment  $   310,000
 $1,240,000
Monthly mortgage at 4.5%  $      6,283
Here’s the Bottom Line
Income  $     10,810
Operating Expenses  $       7,708
Monthly Cash Flow  $         3,102
ALL THE STATICS PROVIDED ARE ESTIMATES

So you can see, you can be a landlord in New York City, in Brooklyn in particular, and make a profit.  You just have to find the right property (or renovate one to make it right) in a great neighborhood.  For more information about this property or other cash flowing properties, give me a call or email me at the number or email address below.

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Abraham Lincoln – An Example Of What Can Happen If You Never Give Up.

Times are difficult for many right now.  People are losing their jobs, many who have jobs are underemployed (unable to meet their financial obligations) and many self-employed persons, like real estate agents, are struggling to stay financially solvent.  Let’s face it, its tough out there.

Whenever I begin to think its time to throw in the towel and give up, I think of Abraham Lincoln the 22 President of the United States.  Known for the Emancipation Proclamation, the Gettysburg Address and many other great speeches and acts as the 16th President of the United States, you might be surprised to find that he was also a failure at a good many things.

Take a look at Abraham Lincoln’s list of failures, defeats and mishaps that led up to what some would say was the ultimate success as one of the greatest American Presidents:

1832  Failed in Business – bankruptcy

1832  Defeated for legislature

1834  Failed in Business – bankruptcy

1835  Fiance died

1836  Nervous breakdown

1838  Defeated in election

1843  Defeated for U.S. Congress

1848  Defeated for U.S. Congress

1855  Defeated for U.S. Senate

1856  Defeated for Vice President

1858  Defeated for U.S. Senate

1860  Elected President of The United States of America

So the next time life has you down, think of Abraham Lincoln, a humble man from humble beginnings who never give up, even after devastating defeats, and became a prominent figure in American history because he didn’t.

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My Thoughts On The Anniversary of September 11th

I originally wasn’t going to write anything about September 11th, not because I don’t care, or I want it to be forgotten or I don’t think its important.  It’s because I don’t like to feel the sorrow and relive the fear I experienced that day.  Not as raw as it was 10 years ago, but it will still come to the surface if I let it.

I didn’t know the true meaning of fear until that day.  I’d seen horror on the evening news, seen it dramatized in the movies and on television, but it’s indescribably worse when you watch people die in so many terrible ways with your own eyes.  The sights, the smells, the sounds.  Horrible.

My heart goes out to those who lost their lives on that day and the family members who have had to live with their loss since then.  I gained even more respect for New York City’s “Bravest” and “Finest” that day and the days that followed and I wish them all well and thank them wholeheartedly for putting their lives on the line to protect and save mine.

May we never again experience events like the ones that occurred on September 11, 2001.  In a perfect world, my words would come true, but in the world we live in now….Regardless, the human spirit cannot be broken unless we let it.

New York City (and the rest of the nation) has survived.  To live in this city you have to be a little nuts anyway, and we New Yorkers are tough nuts to crack.

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Benefits for Senior Citizens in New York City

Benefits Available to Senior Citizens in New York City, and Beyond.

No one has to be told that its expensive to live in New York City.  Its even more so when you’re on a fixed income like many retired New Yorkers.  If you’ve worked all your life, and are now over the age of 65, there are benefits that you are entitled to that you may not know about.Two Seniors

New York City’s Department of Aging has put together a wonderful tool called “QuickCheck” that will help you find out about those benefits.   There are three great things about this service, its free, its easily accessed online, and its completely anonymous.

So, if you’ve ever wondered if you qualify for any of the many programs out there for seniors such as EPIC (which allows you to save money on many medications), SCRIE (which provides rent increase exemptions for seniors), or the New York City School Tax Credit (which you can get even if you’re retired) then take a look at QuickCheck.

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Mortgage Rates Fall Again! – Own a 2 Bedroom Condo for $1,700 A Month

Mortgage Rates Fall Again! Now, you can own a 2 Bedroom Condo for $1,700 A Month. Read on to find out how.

In a statement made by Freddie Mac yesterday, the average rate for a 30-year fixed loan dropped to 4.12 percent, the lowest in the company’s records dating back to 1971. The average 15-year rate fell to 3.33 percent from 3.39 percent.

What does that mean for you, the buyer, in dollars and cents?  Here’s and example.Interest Rates Hit All Time Low Again

248 Sumpter Street, a two bedroom condo in the Bedford Stuyvesant/Ocean Hill section of Brooklyn is listed at $239,000.

$239,000 - Offer Price
$47,800 – Down payment of 20%
$191,200 – Loan Amount
$926.00 – Monthly Mortgage Payment with 4.12% interest rate
$583 – Common Charge (includes heat, hot water, gas)
$80 – Electric
$125 – Taxes

$1,714 – A Month to own this condo

So for $1,714 a month you can own a 1,000 square foot two bedroom condo. That’s less than a lot of people are paying to rent a two bedroom apartment, and that’s not including they gas and electric charges.

The market seems very rocky now, but consider this, if you rent an apartment for a year for $1,700 a month you will have given your landlord $20,400 that you will never see again. If you own, when you sell your property, after holding on to it for several year until the economy recovers, you can get back the money you paid plus any profit. The times we live in are financially scary right now, but the opportunity to own for less than ever before is great.

If you’d like more information about buying a condo, co-op or townhouse in Brooklyn, give me a call today at the number below.

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