Manhattan Condo Living: January 2009

Part 4- WHO MANAGES THE BUILDING?

One of the most common questions we receive is who manages the building?  What kind of track record do they have?  What happens if my sink backs up, dry cleaning is delivered, do they return phone calls quickly?  As a part of being a first time home owner in a co-op or condominium building in New York City you will be a part of your experience will be influenced by the management company that runs your building.   Typically the size of your building will dictate the type of management company that runs it.

Doing research about the management company, ask your broker about their experiences with the company's reputation, and if you know people who have lived in a building managed by a particular company will be extremely useful information.

There are certain management companies that specialize in running large buildings with hundreds of units.  These companies have the experience, infrastrcuture, and are specifically positioned to run buildings with dozens of support staff, maintenance workers, and resident requests.  The big management companies typically manage multiple buildings and they have websites where they can be researched.  Run a google search on them to see what the residents are saying, how quickly do they resolve issues? Keep in mind its always the disgruntled person who speaks the loudest!  

In our experience, big management definitely has its pros and cons, as both a resident and as a real estate agent.  Big management firms have the resources, training, and experience to solve almost any issue that comes up.  Although in our working experience, big management can take a few days to find the right person to answer a question or concern.  There are also times big property management is more reliable in terms of having all of the documents I might need to obtain information for financing or to submit an application.

If it is a smaller management company that runs the building find out if the super lives in the building? The super will be your knight in shining armor when you have any issues, definitely make sure you get to know them. Small management in our working experiences,  have always been very organized and prompt in answering phone calls. Although the management may only manage one building or two, they are usually very sufficient and friendly to the residents of the building.

You will sometimes find that the building is self-managed, if this is the case, make sure you do your due diligence and find out how the mangement is structured and who is responsible for your requests.  

Each experience is will be different, whether you live in a 500 unit building or a 20 unit building, everybody wants prompt and friendly service.  You can get it in many ways from a helpful super to a large management company with staff at your disposal.  If you have a question regarding a specific building feel free to contact us below and we will answer all of your questions.

For more information, please contact Morgan Evans or call  917-...

This is part four in a series centered on first time buyers in New York City, our next post will focus on the next step in your process, BUYING WITH YOUR HEAD AND YOUR HEART!

 New York City First Time Home Buyer Series:

• NEW YORK CITY FIRST TIME HOME BUYER:  KNOW YOUR PRODUCT - PART 1 OF 5

• NEW YORK CITY FIRST TIME HOME BUYER: KNOW YOUR BUYING POWER - PART 2 OF 5

• NEW YORK CITY FIRST TIME HOME BUYER: KNOW THE FINANCIAL REPORT OF THE BUILDING - PART 3 OF 5

• NEW YORK CITY FIRST TIME HOME BUYER: WHO MANAGES THE BUILDING - PART 4 OF 5

• NEW YORK CITY FIRST TIME HOME BUYER: BUYING WITH YOUR HEAD AND YOUR HEART - PART 5 OF 5
  
  Disclaimer: All information in this post is subject to change without notice. Subject matter: is an opinion, is not guaranteed, may be time sensitive, and may be based on information collected from several sources which may or may not be reliable at the time of sourcing.

January 26, 2009 is starting Chinese New Year in lunar calendar.
According to Wikipedia: "Chinese New Year or Spring Festival is one of the most important traditional Chinese holidays. It is sometimes called the Lunar New Year, especially by people outside China. The festival traditionally begins on the first day of the first lunar month (Chinese: 正月; pinyin: zhēng yuè) in the Chinese calendar and ends on the 15th; this day is called Lantern Festival. Chinese New Year's Eve is known as Chúxī. It literally means "Year-pass Eve"."

This is going to be the YEAR OF THE OX! (born year 1913, 1925, 1937, 1949, 1961, 1973, 1985, 1997...) People born in the Year of the Ox are patient, speak little, and inspire confidence in others. They tend, however, to be eccentric, and bigoted, and they anger easily. They have fierce tempers and although they speak little, when they do they are quite eloquent. Ox people are mentally and physically alert. Generally easy-going, they can be remarkably stubborn, and they hate to fail or be opposed. They are most compatible with Snake, Rooster, and Rat people.

BEFORE NEW YEAR's EVE The celebration actually starts on New Year's Eve with the reunion dinner. By New Year's Eve, you should have done the following:

• Clean the entire home to get rid of all the things that are associated with the old year.
• Put away all brooms and brushes.
• Pay all your debts.
• Resolve differences with family members, friends, neighbors and business associates.
• Buy the following: red money envelopes, oranges and/or tangerines, circular candy tray, flowers (especially plum blossom, peach blossom, water lily), a new set of clothes and shoes for children, preferably something red or orange.
• Get new dollar bills from the bank. Insert the new dollar bills into the red envelopes. Now the red envelope is called a lee see or lucky money envelope. (note: Very few modern families follow all the "cleaning" traditions.)

As an Chinese speaking Real Estate agent, we have been busier than ever since it is holiday time. Quite the opposite as to Christmas, or Thanksgiving holidays.  Many of Chinese oversea investors or parents finally have time off from work from Asia, and now coming to New York to visit family or vacation, therefore, the demand for appointments to check out properties are much more than other times. If you would like to know how to invest in New York city and take an advantage of the year of the ox,

call us at (646)644-6929 or email at ehsu@elliman.com today!

HAPPY NEW YEAR! Kung Hay Fat Choy (the Cantonese way of saying happy new year).

Midtown West Condo-159 West 53rd Street (Tower 53)  NEW ON MARKET!!!

Best Feng Shui One Bedroom condominium, it is located on the high floor of Tower 53 - a full service condo building: full-time doorman, concierge, garage and a roof deck. The best located condo in midtown is near everything you want: the Central Park, MoMA, Times Square, Carnegie Hall and great restaurants. Near all transportations. This sun-flooded south facing apartment with great fengshui has open layout, a spacious living room and generous size bedroom, both bathroom and kitchen are recently renovated. It is a must see. 159 West 53rd Street #31D $898,888.

Contact us at (212)321-7122 or email at ehsu@elliman.com to schedule a private showing.

如何购买曼哈顿地产 * (this blog post is in Chinese language. Chinese language computer enabled)

Manhattan Real Estate Purchase Procedures  

很多人可能认为纽约曼哈顿的房地产很难购买, 不知道从哪里开始. 我们的网站和服务, 不仅提供地产市场分析, 市场走向分析, 中国人购买房地产的特殊问题, 曼哈顿区域地段知识, 新建高级公寓购买问题, 而且提供房地产有关法律规定, 房屋贷款问题, 以及美国个人所得税和财产税问题的答案. 我们会帮您建立你的团队, 协助您在纽约找到最佳的房地产.

外国人在曼哈顿可以购买哪种房地产?

曼哈顿住家房地产基本上有两大类房产: 合作公寓(cooperative)和康斗公寓(condominum). 除了这两大类之外还有少数单家庭和多家庭(Town house)房, 但是曼哈顿的这类地产, 起价很高.外国人很少购买.

一般的外国籍人士, 和绝大多数中国籍人士, 都购买康斗公寓(condominum). 主要是因为合作公寓(coop)很难购买, 手续步骤麻烦, 加上购买的是合作公寓(cooperative)公司的股份, 不是地产权. 但美国籍人士, 在美国有固定收入的, 可以提供美国税单的人士, 可以考虑购买合作公寓(coop). 有很多年轻的美籍华人, 在美国有固定收入, 较喜欢购买这类房地产, 纽约曼哈顿有很多合作公寓(70%), 选择的余地很大.

地产经纪人- 许小姐(212)321-7122 

很多人可能认为纽约曼哈顿的房地产很难购买, 不知道从哪里开始. 我们的网站和服务, 不仅提供地产市场分析, 市场走向分析, 中国人购买房地产的特殊问题, 曼哈顿区域地段知识, 新建高级公寓购买问题, 而且提供房地产有关法律规定, 房屋贷款问题, 以及美国个人所得税和财产税问题的答案. 我们会帮您建立你的团队, 协助您在纽约找到最佳的房地产.

许小姐 (Eileen Hsu) from Prudential Douglas Elliman是有经验丰富的房地产经纪人, 在普天寿道格拉斯爱尔门工作多年, 是全美国15%最佳经纪人之一. 专办纽约曼哈顿地产, 主办高级康斗市场买卖. 会讲中文, 台湾话和一流英文. 许小姐经常能为客户找到短期内升值很快的房子, 在你买进时, 已经让你赚钱得利. 免费提供买方优质服务.

金小姐 (Catherine Jin) from Prudential Douglas Elliman 不仅是风水专家, 更是十几年住在曼哈顿的房地产经纪人, 也在普天寿道格拉斯爱尔门地产公司工作. 有多年的地产买卖经验, 金小姐浙江大学毕业, 纽约私立大学硕士生毕业, 中英文一流, 办事效率技高一筹, 能帮你找到您曼哈顿地产投资最佳方案. 免费提供买方优质服务.

我们的宗旨是:我们对您像自家人

Specialize in U.S. Real Estate investments (New York, California and other states) 

New Construction/Pre-Construction/Resale Condominiums 

Single/Multi-family houses

1031 Exchange/Managing Your Real Estate Investment 全美地产咨询(纽约州, 加州, 佛罗里达, 内华达赌城, 华盛顿州等) 曼哈顿新建公寓, 二手公寓和未建公寓 一家庭, 多家庭 (Houses)地产咨询 个人/公司地产投资买卖   个人地产出租/ 管理 商业地产投资咨询 房屋贷款咨询 地产审核 个人地产1031交易 全美/曼哈顿店面买卖出租 Please Feel Free to Send your referrals. We Speak both English and Chinese. Thank you. (212)321-7122.