Leigh Kamping-Carder

Mitchell-Lama housing may just be the best bargain in New York City real estate. The 60-year-old affordable housing program lets middle-income dwellers rent or buy apartments for prices that would not be out of place in Detroit, and unlike much public housing, owners and tenants actually want to live in Mitchell-Lama buildings—so much so that waiting lists are 5 to 10 years long, and residents usually move out “feet first.” Sounds good--maybe even too good to be true?

Real Estate Crush | Rent Stabilization Code

Q: I'm buying an apartment in Manhattan with a budget of $1 million tops. How much should I pay for a real estate attorney? Do the rates differ if I buy a co-op versus a brand new condo? Should it be flat rate or hourly? I've gotten wildly different quotes, ranging from $2,000 to $10,000. One lawyer wants to charge $635 an hour!

These nine New York City neighborhoods have homes for sale at prices substantially cheaper than other parts of their borough.

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