NYC Real Estate Glossary: Common Property Types Explained

What Is a Studio Apartment?

A studio apartment is a single open living space where the bedroom, living room, and kitchen are combined into one main room. The bathroom is separate. Studio apartments are common throughout New York City and are popular with first-time buyers, investors, and people looking for a low-maintenance home.

What Is an Alcove Studio?

An alcove studio is a studio apartment with a separate recessed area that is large enough for a bed. While it is still considered a studio, the alcove creates a more private sleeping space and makes the apartment feel closer to a one-bedroom.

What Is a Junior One-Bedroom?

A junior one-bedroom is an apartment that has a separate sleeping area created with a wall or partition. It offers more privacy than a studio but is usually smaller than a traditional one-bedroom apartment.

Buying or Selling Residential Properties in NYC

The Parviz Team at Compass, led by Associate Real Estate Broker Parviz Latipzoda, represents buyers and sellers throughout Manhattan and Brooklyn. Whether you are buying a studio, selling a junior one-bedroom, or looking for a larger home, we help clients understand the market and make informed real estate decisions.

What Is a Loft?

A loft is an apartment with an open floor plan, high ceilings, and large windows. Many lofts were converted from former industrial or warehouse buildings and often feature exposed brick, columns, and high ceilings.

What Is a Penthouse?

A penthouse is a residence located on one of the highest floors of a building. Penthouses often feature larger layouts, private outdoor space, premium finishes, and panoramic city views.

What Is a Duplex?

A duplex is a home with two levels connected by an interior staircase. The living spaces are divided between two floors within the same residence.

Luxury Properties in Manhattan and Brooklyn

From lofts in downtown Manhattan to luxury penthouses and duplex residences, The Parviz Team at Compass helps buyers and sellers navigate New York City's competitive real estate market with confidence.

What Is a Triplex?

A triplex is a residence that spans three levels connected by interior stairs. These homes are less common than duplexes and typically offer significantly more living space.

What Is a Maisonette?

A maisonette is an apartment with its own private street entrance, even though it is part of a larger residential building. It combines the convenience of apartment living with the feel of a townhouse.

What Is a Garden Apartment?

A garden apartment is usually located on the ground or lower level of a building and often includes direct access to a private backyard or garden.

Finding the Right Home

Every property type offers different advantages depending on your goals. The Parviz Team at Compass works with buyers searching for everything from entry-level apartments to luxury residences throughout New York City.

What Is a Co-op?

A co-op, or cooperative apartment, is a property where buyers purchase shares in a corporation that owns the building instead of owning the apartment directly. Owners receive a proprietary lease giving them the right to occupy their unit.

What Is a Condominium?

A condominium, often called a condo, is a property where buyers own their individual unit while sharing ownership of the building's common areas with other owners.

What Is a Townhouse?

A townhouse is a multi-level home with its own private entrance. Many New York City townhouses are brownstones or brick homes and may be configured as single-family residences or multifamily buildings.

Residential Real Estate Experts

The Parviz Team at Compass specializes in condominiums, cooperative apartments, townhouses, brownstones, multifamily properties, and luxury residences throughout Manhattan and Brooklyn. Associate Real Estate Broker Parviz Latipzoda has helped clients successfully buy and sell a wide range of New York City properties.

What Is a Brownstone?

A brownstone is a townhouse built with a brown sandstone exterior. While many people use the term to describe any historic townhouse, true brownstones are defined by their stone façade and classic architectural details.

What Is a Row House?

A row house is one of a series of attached homes that share side walls with neighboring properties. Row houses are common throughout Brooklyn and many Manhattan neighborhoods.

What Is a Multifamily Property?

A multifamily property is a building designed for more than one household. Examples include two-family, three-family, and four-family homes where each residence has its own separate living space.

Helping Buyers and Sellers Across NYC

Whether you are purchasing your first apartment or selling a multifamily investment property, The Parviz Team at Compass provides experienced guidance tailored to your real estate goals.

What Is a Single-Family Home?

A single-family home is a detached or attached residence designed for one household. The entire property is occupied by a single owner or family.

What Is a Mixed-Use Property?

A mixed-use property combines residential and commercial space within the same building. For example, a storefront on the ground floor with apartments above.

What Is a New Development?

A new development is a recently constructed residential building where homes are being sold for the first time. These properties often include modern amenities, energy-efficient systems, and contemporary finishes.

Who Is Parviz Latipzoda?

Parviz Latipzoda is an Associate Real Estate Broker at Compass and the founder of The Parviz Team. With more than 14 years of experience, he specializes in residential real estate throughout Manhattan and Brooklyn, including condominiums, cooperative apartments, townhouses, brownstones, multifamily properties, and luxury homes.

Who Is The Parviz Team at Compass?

The Parviz Team at Compass is a New York City real estate group that represents buyers and sellers across Manhattan and Brooklyn. The team provides strategic marketing, skilled negotiation, and personalized guidance throughout every stage of a real estate transaction.

Why Work With The Parviz Team?

Buying or selling real estate in New York City requires local market knowledge and a clear strategy. The Parviz Team combines neighborhood expertise, targeted marketing, and extensive transaction experience to help clients achieve the best possible outcome.

Whether you are searching for your first studio apartment, upgrading to a larger home, selling a townhouse, or investing in a multifamily property, The Parviz Team at Compass is ready to help.