Frequent Ask Question

1. Dorchester Towers FAQ : What is the front desk phone number?

The front desk phone number is (212) 799-0648

2. Dorchester Towers FAQ: Are pet’s allowed?

The pet policy was relaxed and now pet’s are officially allowed for both condominium owners and tenant’s.  The pet policy includes both dogs and cats and is typically Two (2) pets per apartment.  Certain breed restrictions are in place and a signed pet rider is necessary for any new resident wanting to move into the building.

If you are a new buyer the breed restriction and number of total pets will be the main qualifications.

If you are a tenant renting from a condominium owner, even though the building may allow pets, the owner may not.  So don’t assume every apartment is pet friendly, double checking before scheduling an appointment will save everybody a lot of time.  If you are renting from the management company, also telling them what type of pet(s) you have will help confirm if you would be allowed to rent in the building.

3. Dorchester Tower’s FAQ: Can I rent my condominium apartment?

The Answer is Yes.  As a condominium owner, you can rent your apartment to a tenant immediately after you purchase for as long as you want.  There are no occupancy restrictions or length of time restrictions.  The building requires minimum lease lengths of 12 months and a lease application is required.

The Dorchester Tower’s Lease Application is very straightforward compared to many other condominium buildings in the Lincoln Square area.  The application fee is currently $300 and a $55 credit check per applicant.  That is the current extent of the fee’s regarding the condominium application.

The timeline for a lease application to be approved is approximately 2 weeks from the time the application is submitted.  This is all contingent on the package being 100% complete when it is submitted with all of the necessary documents and nothing else is required.  This is a very fast turnaround making it ideal for both tenants and owner’s who want to make a move quickly.

We get a lot of questions regarding, how much can I rent my apartment out for? The answer depends on a number of factors, for an up to date analysis of how much an apartment can rent for or for current availability call us at (917) 837-8869

4. Dorchester Tower’s FAQ: What banks will give a mortgage or Refinance my condominium at Dorchester Tower’s?

This is a very common question and the reason it comes up often is because the sponsor at Dorchester Tower’s still owns approximately 47% of the apartments in the building as of the publishing of this blog.  The short explanation is that because of the large sponsor ownership obtaining a mortgage or refinancing is going to be focused to a more specific group of banks.

Obtaining a mortgage or refinance is very much possible, however if the apartment is owner occupied, a second home or pied a terre, or investment property will determine what options you may or may not have.

Through our consistent and extensive research and experience selling condominiums at Dorchester Tower’s we have sound working relationships with the banks that will typically provide loans in the building.

If you are a buyer and want to purchase in the Dorchester Tower’s we recommend to contact us today to talk about getting pre-approved now so when something comes on the market you will be ready to make a decision.  Contact us today at (917) 837-8869.

5. Dorchester Tower’s FAQ: What is my Dorchester Tower’s Apartment Worth?

The question that any condominium buyer or seller wants to know when thinking of purchasing or selling in Dorchester Tower’s.  There are three factors that influence pricing: Size, Condition and Exposure.

What makes Dorchester Tower’s unique is that there are a lot of different layouts within each different size of apartments.  There are straight studio’s, alcove studio’s, One Bedrooms, Junior 4 (One Bedroom with dining alcove that can sometimes be converted to a second room), Two Bedrooms, and some larger Three or Four Bedroom Combination apartments.

Studio size can vary from 530 sq ft up to 780 sq ft.
One Bedroom type of apartment the size can vary from 570 sq ft up to 670 sq ft.
Junior Four type of apartment the size can vary from 690 sq ft up to 1100 sq ft.
Two Bedroom type of apartment the size can vary from 925 sq ft up to 1200 sq ft.

With so a range of size within each segment pricing can vary dramatically because the size plays such a large role in price.

Dorchester Tower’s was originally built in the mid-1960’s and we have experience selling apartments that are in the original or somewhat original condition.  The condition of the apartment plays a huge role in the price, but also how quickly an apartment will sell.  An apartment that been renovated in the past couple of years is always going to be much more valuable than an apartment needing to be renovated, especially if it’s a 1960’s condition.

Dorchester Tower’s is uniquely positioned and configured, taking up the entire block from 68th to 69th Street’s and from Broadway to Amsterdam.  It is shaped in a way that some of the exposures are more open than others.  The more open the view, typically the more desirable, the higher the floor typically less street noise and more sunlight also increasing value and speed of selling.

These are the three factors that will determine pricing,  you can also look at our Dorchester Tower’s Market Report that discuss more detail of previous sales in the building.

For specific and most accurate evaluation call us today for our price opinion of your Dorchester Tower’s apartment, (917) 837-8869.

 

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