Frequently Asked Questions

Yes. All of our appraisers are New York State Certified General Real Estate Appraisers. The Certified General Certification is the highest of all three real estate appraiser licenses awarded by New York state.

Yes, Regev Hindi is an MAI with extensive commercial and residential real estate appraisal experience.

A real estate appraisal is a written or oral opinion of market value or other type of value prepared by a licensed real estate appraiser as of a specific date known as the effective date. An appraisal in an independent, objective and impartial analysis of all data relative to the property being appraised such as comparable improved sales, comparable land sales, comparable listings, comparable leases, construction costs and other market data. There are three approaches utilized by appraisers in developing an opinion of value including the Cost Approach, Sales Comparison Approach and Income Capitalization Approach.

Cost Approach - The process of estimating the market value of a property by adding the appraiser's estimate of the reproduction or replacement cost of the property's improvements, less depreciation, to the estimated land value.

Sales Comparison Approach - A set of procedures in which a value indication is derived by comparing the property being appraised (subject property) to similar properties that recently sold; then, applying appropriate units of comparison and making adjustments to the sale prices of the comparable sales based on differences in elements of comparison.

Income Capitalization Approach - A process to used estimate the market value of an income producing property by converting the anticipated cash flow and reversion into property value. This can be accomplished in two ways. One year's income expectancy can be capitalized at a market derived capitalization rate or a capitalization rate that reflects a specific income pattern, return on investment and change in value of the investment. Alternatively, the annual cash flows for a holding period and reversion can be discounted at a specific yield rate.

We have experience appraising a wide range of Commercial and Residential property types. Commonly appraised Commercial Properties include Apartment Buildings, Mixed-Use Buildings, Office Buildings, Retail Buildings, Industrial Buildings, Retail Condominium Units, Office Condominium Units, Development Sites, Air Rights, Affordable Housing Projects and Special Purpose Properties. Commonly appraised Residential Properties include Single-Family Homes, 2 Family Homes, 3 Family Homes, 4 Family Homes, Residential Condo Units and Residential Cooperative Units.

The turnaround time for an appraisal report varies based on the property type and intended use. Typical turnaround times for appraisals of single-family dwellings, 2-4 family dwellings and residential condominium units are within one week or less from the date of our property inspection. The turnaround time for most commercial appraisal assignments is typically within two weeks. However, turnaround times for commercial appraisals vary depending on the property type, intended use and complexity of the assignments. A specified delivery date is always included in the service agreement provided to our clients. If for any reason extraordinary circumstances delay us from delivering the appraisal by the agreed upon date, we will contact the client immediately to make them aware of any delays.

Our fees vary based on the property type and complexity of the assignment. In order to provide a fee quote, we first gather details of the requested appraisal assignment from our client; next, we conduct preliminary research on the subject property (if necessary); and then, we provide a quote for the appraisal verbally and in writing to our client. For residential properties including single-family dwellings, 2-4 family dwellings and residential condominium units our fees start at $1,500. Our fees for commercial appraisals typically range from $3,000 to $10,000 depending on the specific property, intended use and our clients report requirements. Please note that to receive a fee quote a subject property address must be provided.

We place great emphasis on having the most up-to-date and accurate market data at our fingertips. To conduct research, we utilize PropertyBook NYC (the largest and most accurate New York City real estate database), search public records and interview local brokers. In addition, over our many years in the appraisal industry we have built a network of contacts comprised of distinguished real estate professionals that provide us with current and accurate market data including intimate transaction details known only by parties involved in the deal.

Geographical competency is integral to providing quality real estate appraisal services. We have extensive experience appraising a wide range of property types throughout Manhattan, the Bronx, Brooklyn, Queens and Staten Island.