Manhattan Condo Living

Buying an apartment in New York City will be an exciting and also daunting experience.  Because New York City offers a unique buying experience with many of its own quirks and differences the first step for any New York City first time homebuyer or first time investor is to become well informed and educated about the different real estate products you will be looking at to ensure your experience will be as calm and rewarding as possible. 

1. Co-Op:

A phenomenon that's almost unique to Manhattan, the Co-Op Apartment, has been the traditional form of ownership in New York City for the last century.  About 80% of all apartments available for purchase are in co-operative buildings.  Co-ops are owned by an apartment corporation.  When you purchase within a co-op building, you're purchasing shares of the corporation that entitle you, as a shareholder, to a "proprietary lease."  The bigger your apartment, the more shares of the corporation you own. 

Standard Co-Op apartments: Board approval is required. You are buying shares of corporation, you are required to put down 20% or more of down payment, there will be a full financial disclosure, debt to income ratio requirement and board interviewing process. Each Co-Op building has their own financial requirements and criteria, some are more flexible than others, such as allowing guarantor, co-purchase, gift money from parents, pied-a-terre, your debt to income ratio, work history, down payment required...

Subleasing a co-op can be difficult.  The board of directors will have to approve the prospective tenant subleasing your apartment.  Each building will have their own rules regarding for how long you can lease your unit and other criteria. 

All prospective purchasers must interview with the Board of Directors.  Prior to the interview, prospective purchasers  prepare a detailed "Board Package" which usually contains personal and professional letters of recommendation as well as a great deal of personal information concerning income and assets. 

Sponsor Co-Op apartments: NO Board approval is required.  These are Apartments that are held as an investment by the sponsor , the original developer who built the building or converted the building to a co-op. Sponsor units command a premium because people who might not pass a board or don't want to go through a board approval process can buy them.

For example, a sponsor unit would be a good choice for parents who want to buy an apartment for a child who is a student. A sponsor unit may be the best apartment for someone who is not working, or only has a short job history. Buyers of a sponsor unit should take note that they will need to pay NY State and NY City transfer taxes, and often the seller's attorney fees.  You still have to submit a board package (Homeland Security! The management company needs to know who is moving into their building) and you almost always have to abide by the building's house rules as far as sublet requirements and pets.

We have helped many buyers purchasing coop and condos in Manhattan New York. If you are a first time home buyer in Manhattan New York, it is important to team up with a market expert to help you navigate through it. Call us today at (917)837-8869 so we can discuss what will work best for you.

Red envelopes givings are a fun part of Chinese New Year tradition in my opinion, mostly at family gatherings Lunar New Year or wedding. The red color of the envelope means good luck and is supposed to ward off evil spirits.

What goes in the Red envelopes? Usually money. The amount of money in the envelope usually ends with an even digit,such as 88 and 168 are both lucky numbers. But it is the tradition that money should not be given in "4"s, or the number four should not appear in the amount, such as 44 nor 444 as the sounding pronunciation of the word "four" resembles that of the word "death", and it signifies bad luck for many Chinese.

During the Lunar New Year, red envelopes are typically given by the married to the unmarried, most to young children.  It is traditional to put brand new money inside red envelopes, as well as to avoid opening the envelopes in front of the relatives to show respect.

Since it is Chinese New Year, we will be hanging out few Red Envelopes to others.

Happy Chinese New Year!

This weekend was a great weekend. Other than working hard at open houses, appointments, I had a fantastic brunch with some of my college friends to catch up with each other. We had brunch at Havana Cafe in the Bronx, they had some of the best brunch on the menu and unlimited sangria. We did not hold back and had a great time eating and enjoying each other's company.

Big Smiles on everyone, we had a wonderful time with delicious brunch and bottomless sangria.

North east coast had our early snow yesterday in October. Manhattan New York had few inches of snow, and today was very sunny not a drop of rain or snow in sight. The weather is cold today and this is the time I like to look at some photos of flowers that I have taken in the Summery days...

Tomorrow October 10 (double tens) 2011 will mark Taiwan Republic of China 100 years old.

Taiwan Double Tenth Day History: Double Tenth Day is the national day of the Republic of China more commonly known as Taiwan, this day commemorates the start of the Wuchang Uprising of October 10, 1911. On January 1, 1912, the Qing Dynasty in China collapsed and the Republic of China was established, all thanks to the Wuchang Uprising. After the end of World War II and end of the Chinese Civil War in 1949, the Republic of China government gained control of Taiwan but ultimately lost control of mainland China.

The seat of the Republic of China government relocated to Taipei, Taiwan, while the Chinese Communist Party founded the People’s Republic of China in mainland China. The Republic of China was established in 1911, finishing up the Qing Dynasty and ending over 2,000 years of imperial rule in China to become the oldest surviving republic in East Asia.

The 100th National Day is a big event for the Republic of China (Taiwan)-- the first democratic republic in Asia — is going to be 100 years old. 慶祝建國一百年雙十國慶!

中華民國建國一百年意義深遠，為妥善規劃系列活動，馬總統於98年5月19日就職週年記者會中宣布，就建國一百年相關事項委請蕭副總統進行籌備工作。

蕭副總統自98年5月間邀集專家學者陸續召開籌備小組工作會議，經審慎研商，決議組設「中華民國建國一百年慶祝活動籌備委員會」進行意見交流外，並另成立「財團法人中華民國建國一百年基金會」以推動相關工作。

馬總統於98年10月10日雙十國慶當日，正式宣布成立籌備委員會，敦聘蕭副總統擔任主任委員，行政院吳院長敦義及立法院王院長金平為副主任委員，同時核聘籌備委員會委員111名，以結合政府與民間資源，規劃建國一百年相關慶祝活動。

籌備委員會係由政府（中央與地方）與民間各界人士共同組成之任務編組，具多元性、代表性，為全國各界之交流平台。主要功能為針對建國一百年慶祝活動 進行討論，期能集思廣益、凝聚共識，彰顯國人對建國一百年之重視，並藉此形成全民參與氛圍，獲致促進團結和諧，強化國家認同，攜手共築美麗願景之目的。

基金會依照民法暨行政院文化建設委員會主管文化藝術財團法人設立許可及監督要點組織之，定名為「財團法人中華民國建國一百年基金會」。

HAPPY BIRTHDAY TAIWAN!

On the Westside of Downtown Chelsea Manhattan, the High Line was built in the 1930s, as part of a massive public-private infrastructure project called the West Side Improvement. The highline carried freight 30 feet in the air, this way, it removes dangerous trains from Manhattan streets.

High Line has not been used since 1980, in 1999, this historic structure was under threat of demolition. Friends of the High Line, a community-based non-profit group then was formed to preserve and developed an idea to keep this structure as an elevated public park.

High Line park look from the street, it is rised above the street level.

Cafe on the high line park that is a fantastic place to have some afternoon snack.

New and ultra chic condo developments near and along the High line park.

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Today, the park is open to public with many seasonal blooms, visitors come to High line park to enjoy the sunshine, admire the landscape, the neighborhood has become one of the trendiest place to live in Downtown Manhattan with unique architecture of new condos. The High line park is now one of favorite park among New Yorkers.

If you would like to know more about condos near High line Park, there are many options and availabilities based on your specific requirement. Call us today at (917)837-8869 and we can discuss in private in what will work best for you.

Have you ever work with Chinese buyers and sometimes not quite sure why the Chinese buyers are stuck on particular numbers and avoid certain numbers? For me, I work with many Chinese Buyers/Clients in Manhattan New York market place so it is very important to understand where these numerology beliefs are coming from, and the common premise is that certain numbers are associated with good or evil.

I know first hand on how these beliefs come about since I am Chinese and was raised by my parents who have strong beliefs in these number system.  My father's business address in Taiwan, Taipei has multiple 'good numbers' to give him contineous prosperity and luck, therefore, if we ever have to do anything that may involve in any numbers, we carefully discuss which number figure is good for us.

In Chinese Numerology, the simple element that makes numbers good or bad in Chinese language is the punning and word play possible in a many-tone language.

 For example, the number "3" is associated with living or giving birth, "8" with prosperity, and "9" with eternity or power. Combinations of numbers are also prized for their punning references to good luck and prosperity, the two most important issues in the minds of many Chinese. This belief that certain numbers bring good luck is often put into practice when naming businesses and clubs that hope to attract customers.

Chinese people take the Chinese numerology and what the numbers say very seriously, I myself is no different. For Example, When it comes to choosing a cellular phone number for myself or business partners, I make sure that we get 'good numbers'. Even if I have to drive the cellular company crazy! Also, Car license plate, it is important to have 'good numbers' to bring you good luck. (ie: 888, 168, 1988) Many business people in Chinese culture, they are willing to spend quite a bit of money to make sure the numbers look favorably on them.

In Chinese numerology, there are also numbers you want to avoid. Unfortunate numbers are one (the lonely number), and four and seven, which represent the death numbers. Some numbers are bad luck when they are combined with other numbers. If you are working with Chinese buyers and presenting an offer, you may often see them presenting offers with the number '6', '8', '9', and ends with these numbers. It also depends on where the Chinese buyers are from, they may or may not care about these numbers (Buyers from Hong Kong and Taiwan may have stronger beliefs of these numbers instead of buyers from China). It is always good to be aware of the possibility than not. If you have listings that you may want to attract Chinese buyers' attention, you may want to end the listing sales price in those numbers too.

Being a New Yorker living in this concrete jungle, it is always fun when we can take few days off to go out of town and have a short getaway trip. Recently, we had some family relatives that were going to visit Boston, we have decided to take a short road trip to Boston Massachusetts.

Even though we have been living in New York for most of our lives, we have not yet been to Boston (embarassed to say!), this time, we decided to put all the colleges (MIT, Boston College, Brown University and etc) on the intineary and of course check out Harvard University to absorb some Ivy League (Facebook founder) energy.

Love that Harvard store, feeling smarter just browsing the Harvard Apparel !

Below photo is in front of Capitol House of Rhode Island with our baby niece Claire and sister in law.

Lastly, we enjoyed the Charles River very much, our hotel room over look the river where we see college athletes practice crew every early morning. We took some scenic walks along the river, great way to exercise with scenic routes.

If you have not been to Boston, you really should visit.

September 11, 2001 was a very sad day for all of us and the world.

This year we are approaching a decade of this important date in history, I would like to dedicate this post to my dear friend Christopher Santora, he was one of the New York Firefighter that gave his life in saving others.

Chris and I met in high school back in early 90s, we befriended right away because of his quick wit and sense of humor, we always had a good time chatting in the lunch room and of course in the classrooms. Through out high school, he was always kind and helpful to others, needless to say, he was popular among the students.

Chris came from a fireman family, fol­low­ing in the foot­steps of his Fire­fight­er fa­ther, Christo­pher San­to­ra was a mem­ber of En­gine 54/Lad­der 4 for only 2 months be­fore he lost his life trag­i­cal­ly on 9/11.

Chris's family had started a foundation/scholarship in his name: Please visit: http://christophersantora.com/scholarships/

Chris, we love you and all the smiles you had gave us. You were taken away from us too soon. It has been ten years that you have been gone, but our love for you will never fade. We miss you very much.

Soho Mews is a new construction condominium located in the ever popular SoHo neighborhood in Manhattan.  Designed by the architects, Gwathmey Siegel, the building was welcomed by the New York City marketplace as it has sold successfully and appreciated for many of it's design elements.

At the heart of it's appeal is its SoHo location.  Located between West Broadway and Wooster Street in the souther portion of SoHo, and across the street from the Soho Grand Hotel.  You are within walking distance to everything Soho has to offer and still within the heart of Downtown Manhattan.

Soho Mews Apartments are very loft-like, with high ceilings, extremely generously sized rooms, nicely outfitted kitchens and bathrooms, floor to ceiling windows, an attention to detail was made and you will feel very comfortable walking into the apartments.  The building is a full time doorman condominium, with fitness room, garage, and open air private plaza between the Wooster Street and West Broadway buildings.

This Soho Mews rental is Available for rent right now at Soho Mews is apartment 3A.  This 3 Bedroom, 3.5 Bath, 2195 sq ft rental apartment is now available for $16,500/month.  As you walk into this apartment you will see the expansive living/dining "Great" Room. An open kitchen with large counter opening to the "Great Room" offering a great flow and entertainment potential.  Each bedroom has an en-suite bathroom, along with excellent walk in closets.  The Master Bedroom has a 5 piece master bathroom with excellent closet space.  The stackable washer/dryer is a nice feature completing the apartment.

Facing both West Broadway and the garden courtyard on the 3rd floor the floor to ceiling windows bring in strong amounts of light along with the high ceilings give a voluminous feel to this Soho Mews rental.

If you are interested in this 3 bedroom condo for rent in Soho at Soho Mews contact us today at (917) 837-8869.