The definitive New York City real estate glossary to help home buyers and renters navigate the market in the city we call home.
- Privately owned buildings that have been abandoned by their owners, resulting in conditions that are dangerous to the tenants' life, health and safety.
Alternative Enforcement Program
- The Alternative Enforcement Program (AEP) is a mechanism used by the New York City to identify residential buildings that are not properly maintained and ensure that violations and the conditions that caused the violations are corrected.
- Residential properties are required to register annually, providing the City with an updated list of building management and contact information.
- The Sex Offender Registry now posts multiple photos of registered sex offenders, as they become available, to provide New Yorkers with additional information to keep their families safe.
- An easement is the right to use or enter onto someone else’s land for a specific purpose.
- In an initiative to improve citywide energy and water efficiency, New York City requires large buildings that meet certain criteria to submit an annual “benchmarking” report detailing their energy and water consumption.
ENERGY STAR Certification
- ENERGY STAR certified buildings save energy, save money, and help protect the environment by generating fewer greenhouse gas emissions than typical buildings.
FDNY Building Vacate List
- The New York City Fire Department Building Vacate List are buildings or portions of buildings deemed to be an immediate threat to life.
- Despite its name, a flip tax is not a tax, but rather a fee imposed by some New York City coops any time a unit in the building is sold.
- Separate and distinct from the NYC hurricane evacuation zone maps, flood risk maps are maintained by FEMA and are a primary factor in determining flood insurance requirements and costs.
- Geothermal wells use the earth as a heat source or sink by means of a circulating water loop.
- A long-term lease of land, on which a tenant is permitted to erect structures and make land improvements.