Frequently Asked
Answers, without the jargon.
Plain-language answers to the questions we hear most from buyers, sellers, and first-time clients navigating the New York market.
How buying in New York actually works.
Manhattan's buying process is famously intricate — co-ops, condos, and townhouses each behave differently. Here's how we move clients through it, step by step.
What are the steps to buy a home in NYC?
We start with a confidential consultation — understanding your criteria, timeline, and financial picture. Once pre-qualified (pre-approval for a mortgage, or verified proof of funds for cash), we tour on-market and off-market inventory. When you find the right home, we submit an offer, negotiate terms, and work with your attorney on due diligence: reviewing building financials, minutes, alterations, and any co-op or condo package. Contract signing follows (in NY, the contract binds both parties only once signed by both). From there: mortgage application if applicable, the board package for co-ops, appraisal and inspection, then closing. A typical deal closes 60–90 days after contract.
What's the difference between a co-op and a condo?
A co-op means you own shares in a corporation that owns the building — along with a proprietary lease to your apartment. The board approves buyers, can restrict financing (often requiring 20–50% down), and reviews a detailed financial package. A condo means you own real property; financing is more flexible, foreign buyers are welcome, and there is typically no board approval — only a right of first refusal. About 75% of Manhattan inventory is co-op, but condos dominate new construction and many luxury segments.
How much do I need to qualify?
Most luxury co-ops require 20–30% down and post-closing liquidity of 1–3 years of maintenance and mortgage payments. Condos are more flexible — 10% down is possible, and international buyers are welcomed. We'll walk you through what a specific building expects before you spend time touring it.
What fees should I expect beyond the purchase price?
Closing costs for a buyer typically run 2–5% of the purchase price. The big NY-specific line items: mortgage recording tax (roughly 1.8–1.925% if financing), mansion tax (1–3.9% sliding scale on purchases $1M+), title insurance, attorney fees, and building-specific move-in fees. We'll prepare a detailed closing-cost estimate before you make an offer.
Can you help with off-market properties?
Yes — many of our most compelling opportunities never reach public listings. Through Compass, REALM Global, and 20 years of relationships, we regularly access properties before they're advertised and place sellers discreetly. If you're searching for something particular, tell us — we can often find it.
How we position and sell your home.
Great marketing won't save a wrong price, and great pricing still needs great marketing. We treat both as the same work.
What's the first step when I'm ready to sell?
A candid valuation conversation. We study comparable recent sales, current competitive inventory, and the building's specific history. From there, we build a pricing strategy — the goal is not the highest list price, it's the highest sale price, which is not the same thing. We'll also discuss any prep that meaningfully moves the number: staging, paint, minor updates, and (where it makes sense) larger improvements through Compass Concierge.
What does your marketing look like?
Professional photography and video, a custom property narrative, targeted distribution across Compass and our 27,000-strong international referral network, broker previews, and — where appropriate — discreet pre-market exposure. For the right property, we also place editorial coverage in outlets like The New York Times, Bloomberg, and Mansion Global.
How long does it typically take to sell?
It depends on pricing, condition, and segment — but a well-priced Manhattan property typically goes to contract within 30–90 days, and closes 60–90 days after that. We'll give you a realistic timeline specific to your building and asking range before you list.
What's the commission structure?
Commission is negotiable. Traditional Manhattan practice has been 5–6% of the sale price, split between the seller's and buyer's brokers. After recent industry changes, seller and buyer compensation arrangements are now negotiated separately. We're transparent about what you pay and why, in writing, before any agreement.
What's Compass Concierge?
A program that fronts the cost of strategic pre-sale improvements — staging, painting, minor renovations — with no interest and no upfront fees. You pay only when the home sells. We use it selectively, where the improvement will clearly return more than it costs.
What a relationship with The BAHAR Team looks like.
We're a small team by design — four people, intentionally tight-knit. Every engagement is led by Bahar personally.
What makes The BAHAR Team different?
Bahar is a Cornell-trained engineering Ph.D. with a two-decade career advising Manhattan buyers and sellers. That engineering background shapes how we work: data-driven pricing, systematic due diligence, clear documentation. Paired with taste, discretion, and an eye trained on high design — the combination is rare in this industry.
What neighborhoods do you focus on?
Manhattan primarily — from the Upper East Side's storied co-ops to Tribeca's design-forward lofts, plus Central Park West, SoHo, the Village, and Carnegie Hill. We also work regularly in Brooklyn (particularly Brooklyn Heights and DUMBO) and selectively in Queens for the right clients.
Do you work with international buyers?
Yes, extensively. We speak six languages team-wide (English, Persian/Farsi, French, Turkish, Spanish, Italian) and are a founding member of REALM Global — an invitation-only network of the world's top 1% luxury agents. International buyers account for a meaningful share of our closings.
Do you handle rentals?
We focus on sales. For the right long-standing client, we make referrals to trusted rental specialists at Compass.
How do I start a conversation?
Write us at bahar@compass.com, call 917.297.7067, or use the contact form. Initial conversations are always free, confidential, and without obligation.
Still have a question?
The questions above are the ones we hear most. Yours may not be on this list — reach out and we'll answer directly.
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