Have you ever wondered how much did a house sell for or perhaps how much did
my own neighbors home sell for? Well in New York City, you can verify much of
this especially for condominium apartments and other real property on
various sources such as various public websites which pull public data or
directly viewing public data on actress. We'll show you how so let's start with a
example noting Google is 75 Wall Street. Let's go to the first result, there are
many various public websites such as the New York Times read easy and other many
other sites that you pull public data. Take a look, this is a condo building has
quite a few units for sale. Let's just verify some of what has sold in this
building so like any public web site you do have to take this with a grain of
salt when you see no longer available for example in this site this definitely
does not mean it has sold you just take a look you'll notice that this was
actually currently listed by another broker so this is simply a former
brokers listing that wasn't successful in selling. So don't don't if you should
ignore these these are basically previous attempted sales sometimes for
the you know it can be tried by different brokers as well for the same
unit. What you see a soul cannot find government record. Be careful about this
because this simply needs that the the broker said it was sold so basically
close that the listing said it was sold and this is the last listing price but
it's unverified. Fortunately, in this is it a case if you look just a little bit
further now you'll see that there is a later
verification so this website pulled a recorded sale for this listing from
actress so the actual sale price was 1.06. No, you can actually click on this
to find out more information. Let's take a look so this is porter mattress
So it is just a recap going back to that example, you'll see that when you see
only just this be very wary because this is taking the brokers word for it in New
York City. The data quality is pretty lacks when it comes to the RLS the
Rebney RLS there's a you know versus some of these other regions have a lot
of systems it can be quite strict with data quality. It's pretty relaxed during
city which brokers seem to like but as a result as a consumer we do have to be
careful because this again last listing price this actually did sell is verified
but it is for a lower price so be careful about that. When you see records
like this for example sold and then asking oftentimes this simply means that
this was verified where the data was was verified through public records and it's
one line item so let's take a look just to confirm. It says sold and it was
verified so this specific site you know they essentially pulled this into one
line item because they were able to verify this number. You take a look so
recorded so listing sold so you'll see in this case this is the same thing the
broker marked it have sold 695 the last listing price. It was actually sold for
675 and again this is a report itself so you can confirm this
Let's go back
This is an interesting example as well so 29C you don't see an actual listing
pipe broker from here anywhere but it is marked as sole so this is well let's see
29C. It was attempted there was an attempted sale in late 2018 and then it
was marked as sold so let's take a look 29 C sell recorded so it was attempted
for sale and it four months later there was a sale reported so this is
interesting because this could mean a variety of things. If you know if you
didn't see any broken listing at all you just see a recorded closing. Perhaps it
was a market transaction of some sort and because this has a weird number
let's take a look, let's see what's going on. So as you see it didn't actually sell
it seems like the internal ownership so this is an auto not an arm's length
transaction so they have internal ownership change but they were related
parties so basically one of the parties sought out their half, their share and it
seems or I'm sorry the seller slid half their shares with someone else. It seems
like it's a partial related sell for you know non market sell so
that's what that is. You know sometimes very in very rare instances you might
see for example this 29C and for some reason the owner was able to persuade
the broker to take it off market while I was in contract. Brokers don't like to do
that because they like to get credit but let's say they were able to do that and
it didn't end up selling later at the broker got paid or perhaps it was
through you know the contract expired and the broker is able to find it there
are fire and it posted so if you do see a random line item that says recorded
closing not any of you attended sells. It's most likely either arms linked non
arm's length transaction that got posted or it was a off market transaction so
perhaps a neighbor bought another neighbor's apartment something like that
so that those are the most likely outcomes and again this is just stuff
that you see on any number of these public websites. It's not necessarily
accurate. I would be very hesitant to say that because you know the only way to
truly verify something like this is to look on acris which is the true source
of all public data in New York City so let's take a look this is what acris
looks like. You can find it simply by googling acris
So in this case is asking you for a barber oh and then a block and a lot
number so you might not have this handy I remember a lot number is a identifier
for a specific piece of real property so either a single condo unit or a house
right but keep in mind for co-ops it's a bit more difficult because a co-op is a
single corporation that owns an entire building with many coops shareholders
who are technically tenants so a co-op would only have one lock number but an
individual condominium apartment will have its own. Anyway, you might not have
these these PBL numbers available so just do an address a parcel. Okay
we're going to kind of verify this number one point six three five four
twenty nine ten. Hit enter
the PBL automatically populated the document search I would do maybe last
five years. I would did leads into based conveyances these others not as
interesting especially since you know you're looking at a real property where
these are their the means of transfer
so you will see this is it the cell that happened party one party - and the sale
price was 29 M. Cell presses up here 1.6 3/5 which matches so this essentially
actually verifies it. This is this data is correct
the cell that happened on April 12th so this data was poured correctly but it's
always nice to be able to verify this yourself on the actual public record and
this is it. Now what about verifying home sold sale
prices for a co-op apartment? Well coops are different animal but it's
possible to verify their sale prices on public search websites and on actress
public data as well take an example in this West Village 31 Jade's 450 GH. If
you take a look, let's go to this building first so it's currently for
sale but if you take a look at the pass house you scroll through. If you do also
a
all units search search 450 GH .Click on the listing. Sometimes you can see the
unit history that it sold so you can see it here. You can also for example if you
go to the list active listing you can go down ice history you'll see that again
this is where the broker mark Tedesco could actually went across above ask
this is the record itself so this is the last listing price essentially when the
program market that sold this is the actual recorded sale price take a look
at this and that you'll see that they pulled this supposedly from public
records. Now let's verify this for ourselves
same thing enter the street address even though it's a co-op put in the unit
number press ENTER in document search in. This case you can't do the last five
years because this was sort of 2012 so let's put in a later date
hit. Our document classes and you'll notice that this is a bit different
you'll see that both our RPTT and RETT is what shows the cinnamon tea transfer
This is a co-op so this will have to be equivalent to a at the transfer notice
so take a look there's details and you'll do you will see that this sale
that occurred so the tower lot was transferred for 2.7 no and this occurred
July 31st 2012 so this data is correct and you were able to verify your for
yourself an acris and the public record
you see the buyers of the sellers work and this is this is helpful. And in case
you are curious our RPTT stands for Real Property Transfer Tax and RETT
for Real Estate Transfer Tax. If you are interested in what these these major
seller closing costs are please check out the offset website we have a recent
article on changes to the New York City and York state transfer taxes which are
typically paid by sellers and a normal resale transaction so the rates
have changed we encourage you to check out wwsz comm and check our blog read
our latest article these are important changes glance for the article for you
but it is important we do have a calculator for you to give you an
estimate of what your closing costs including your transfer taxes
specifically are based on various price levels and property types. So please
check that out. We have a lot of great content and we would love for you to
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