Manhattan Condo Under $500K is a popular request - We receive multiple phone calls a day from investors or first time home buyers looking for properties under $500,000. Savvy buyers are on the market right now looking for a condo as their long term investment. Our team is active on the market and have a list of the best Manhattan Condos within that price range if that is what you are looking for.
Manhattan Condo Under $500K are usually studio apartments. A studio apartment is typically a complete living area including the kitchen, living area, sleeping area - without walls. The only private area is the bathroom. The size for the studio apartments are anywhere from 150 Square feet to 550 Square feet. Depending on the location, condition, exposure and market inventory, studio apartment price per square feet is approximately $1,000 per square feet.
Manhattan Condo Under $500K can also be a good Real Estate investment for first time investors. We work with many first time investors that prefers to put their cash in Real Estate market than in stocks in today's market. Many of our first time investors are also conservative investors therefore we have always recommend to start at studio apartments and if they enjoy it, we expand their Real Estate portfolio to larger apartments. Studio apartments are good Real Estate investments because the price is the entry level of our market place here in Manhattan New York, it is easier to find renters to occupied the apartment, it is also in high demand in the sales market if the investor ever decides to sell the studio apartment.
Manhattan Condo Under $500K are in high demand among first time home buyers. Many of our first time home buyer have been past clients of ours that rented apartments from us. We do both sales and rentals, many times our rental past clients turn into sales clients once they saved up enough down payment or have decide to enter the home owner market. In 2009, many of our financial savvy past clients have decided to enter the market to buy vs rent. At studio apartment prices, if the buyer decides to take out a mortgage, it will be most likely under conforming loan amount and the buyers in todays market are receiving historic low of mortgage interest rates.
Manhattan Condo Under $500K are popular among pied-a-terred or second home buyers. Besides servicing the local market, we also work with many buyers from out of town, oversea foreign buyers. Manhattan New York is a city that everyone loves and would like to own a piece of. Our out of town buyers look into studio apartments as a long term investment as well as second home for them when they visit the city of Big Apple. Not only it is a wise investment, they save the hotel expenses when they or their family/friends visit the big city. Especially during holidays, many of our out of town past clients come into Manhattan New York to enjoy the festive lights and the holiday energy that this big city has to offer.
Contact us for your own Real Estate consultation call (917)837-8869.
Read more:
- To learn more the terminology of Manhattan New York Real Estate
- One of best Midtown Studio that is perfect for second home or investment
- Samples of Studios under $400K, please call us for more listings
If you are a buyer that would like to have a private one on one buyer consultation. Please contact us now at (917)837-8869. If you are a buyer that speaks Chinese and would like work with someone that speaks your Chinese dialect, call us now at (646)644-6929.
We are both English and Chinese Speaking Real Estate agents under one of the most successful Manhattan Brokerage firm Prudential Douglas Elliman with extensive market knowledge. In addition, we specialize in connecting the local Manhattan sellers with both local and international buyers with our preferred buyer networks. Call us today at (917)837-8869.
