Find your dream apartment.

Book a showing with one of our extremely talented agents. We’re absolutely confident that we’ll find you your dream apartment.


We’ve compiled a list of requirements and general info so you can be sure you’re on the right track.


Interested in buying or selling?

Our Sales guide provides our New York City clients, who wish to buy quality New York City apartments, coops, condos or commercial properties within their budget, with quick and general guidelines to follow. The sales guide and buyers guide offers our clients with useful information about buying property. We offer information on standard fund requirements, general closing procedures, and a frequently-asked-questions list. 

Interested in renting?

It’s a well known fact that the New York City rental market moves fast. Our rental guide addresses the fundamental questions our clients have about finding an apartment. We offer information on general approval requirements, general closing procedures, and a frequently-asked-questions list. 

Buying & Selling



Standard Fund Requirements


Location, size, amenities, building type, school locations and nearness to public transportation are crucial to determining what a property will cost. We suggest that buyers review financing options to determine what amount of money they can put toward a deposit and then determine what they can afford for a monthly mortgage payment. Some people may want to see if they pre-qualify for mortgage status in order to know what budget they will be working within.


The next thing to determine would be the type of property you’d like to buy. Would you like an apartment, condominium, coop or commercial property?


For apartment purchases there is no approval process, besides normal financial inquiries. Buyers are entitled to have complete control over any renovations they wish to make. Maintenance costs are the sole responsibility an owner and with this the owner gets total control over maintenance and repairs. Transferring deeds or reselling an apartment do not require approval. The size of a property can vary according to a budget and location of the property.


Condo owners buy the apartment and also own a percentage of the common building areas, i.e. entrance areas, hallways and recreational areas etc. The condominium is considered real property; because of this fact, owner’s have the right to do use the property any way he/she sees fit. Owners are subject to pay property taxes which can either be escrowed into a part of a monthly mortgage payment or which are paid annually as an expense. Monthly maintenance fees are generally paid to the building’s condominium association.


Buying a coop is tricky, but Crosstown Apartments NYC’s team of qualified agents can help. When purchasing a cooperative apartment the purchaser is really purchasing shares in a cooperation. The shares correspond to the units in which you live. coop fees include a monthly mortgage payment and maintenance fees for the building. Maintenance fees are sometimes high but both mortgage payments and maintenance fees generally result in higher tax deductibles.


General Closing Procedures


A closing is where a buyer gives a seller money in exchange for ownership and title to a particular property. This bargained for exchange, or consideration, transfers ownership and title of the property. The seller also needs to sign over other documents including a deed. The place of closing is normally at the bank attorney’s office. The parties present will be: seller, bank attorney, real estate brokers, seller’s attorney, buyer’s attorney and title closer. Buyers need to apply for a mortgage as soon as the contract is signed by both parties. The mortgage process takes up to 45 days and can involve several procedures:


  • The mortgage broker compiles the buyer’s financial information and then presents the loan application
  • The bank sends an appraiser to assess the property
  • The underwriters review the loan and issue a commitment letter.

If buying an apartment, coop, condo or any other property with a board or association, prepare your application package with your Crosstown Apartments NYC broker. These packages tend to vary from building to building. Most boards use the same financial requirements as the bank. Keep an extra copy of your mortgage application and any related documentation. Buyers, are required to get personal, professional and financial letters of reference. If renting, get a letter of reference from your current landlord. Ask what information is needed and for copies of sample reference letters. The board package is important, therefore, answer all questions in a clear, concise manner and give an accurate description of your financial qualifications. Before submitting your application package, write a cover letter, organize the presentation and review it with your Crosstown Apartments NYC broker.


The board package is submitted after a buyer receives his/her mortgage-loan commitment letter; it is submitted to a building’s Managing Agent. The Managing Agent checks the application, evaluates credit and references, and then submits the package to the board. The board then reviews the completed package. Additional information may be requested or if the package is passed, an interview is scheduled. There is either an interview committee that approves new applicants or a board will do it during its monthly meetings. Your Crosstown Apartments NYC broker can assist you as to the date, time and any other preparations for your interview.


Closing is scheduled after the board approves an application package and completes the interview process. This generally takes 2 weeks for final approval and can vary depending on the availability of the parties involved; i.e. managing agent, buyer, seller, lawyers and banks.







Monthly Payment

Principal & Interest $1421

Monthly Taxes $1421

Monthly HOA $1421

Monthly Insurance $1421


Rental Information


Standard Requirements

Both applicants and guarantors are required to submit credit reports, no exceptions — they typically cost between $25 to $100 depending on the landlord or management company. 


Once all completed application materials have been submitted, Crosstown Apartments can usually get our clients approved for their apartment or rental property that same day. The renter must have completed all application materials, including reference letters and supporting documentation. 


Once approved, clients are expected to sign the lease immediately and provide necessary funds. Lease signings take place within 24 hours of application approval.


Be sure to ask your Crosstown Apartments agent if there are additional fees, especially if applying for a condo or co-op. Fees for pets or for temporary walls are also common.


For obvious reasons, a budget is an important factor in determining what apartment or rental property a renter can afford. The price of a property depends on a variety of factors – size, location, condition, features, neighborhood amenities, schools among others. It is key to determine a budget at the beginning of the application process to have an understanding of what you can afford.


General Closing Procedures

Approval requirements differ depending on the landlord/management company and the building. The following are general guidelines that apply in most instances:

  • Renters need to show income of at least 40-50 times monthly rent.
  • Rent should be 25% of renters’ annual income.
  • Renters must show a secure and stable employment history.
  • Renters needs to have good credit history. A major component of the approval process is based on the credit report.


If you think your credit report is bad, advise your Crosstown Apartments NYC broker so they can prepare you for the application process. Landlords/management companies have different ways of dealing with credit problems. Some landlords/management companies allow renters to increase security deposit while others require a guarantor. Some may simply reject the application. Your Crosstown agent will advise you in order to save you time, money and frustration.


Some landlords and some management companies require potential renters to include a copy of their most recent tax return (1040). Renters should have their tax return available, in case it is required. If you’re self-employed, you’ll be required to submit tax returns and a letter from a CPA stating the nature of your business, as well as projected future income.