What Is a Pied à Terre Apartment?
Chris at Hauseit® (https://www.hauseit.com) goes over the question: What is a pied-à-terre apartment?
Save money when buying, selling and renting real estate in New York and Florida with Hauseit. Available in NYC, Long Island, the Hudson Valley and South Florida. Established 2014.
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A pied-à-terre apartment is just a fancy French phrase for a second home. The translation is "foot-on-the-earth," which kind of makes sense as you have a foothold in whichever region your second home is based.
In certain markets like NYC where there are co-op apartments and not just condo apartments, be careful and pay attention to the building's rules around pied-à-terres and whether they are allowed.
Co-ops can be quite strict, and generally co-op boards prefer primary residency. As a result, building rules will vary by building, and some co-ops might disallow pied-à-terres totally.
Keep in mind, there is no exact definition for what constitutes a pied-à-terre (i.e. how many days etc), so it's really based on each co-op building's rules.
Of course, condos and other real property like houses don't have this issue!'
We explore this mystery and explain further in the following video.
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Hauseit Group LLC, Licensed Real Estate Broker
Tel: +1 (888) 494-8258
Email: team@hauseit.com
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