Manhattan New York Condos are our specialty. We have many buyers who are not native 'New Yorkers', sometimes the condo definition can be different by buyers from their own culture or different parts of United States. It is important to establish a definition that is clear for others to understand about our Manhattan Condo market place.
Here is the definition of a "Manhattan New York Condos" from a New York Mortgage Professionals...Buying a condo is like a buying a single-family home that sits inside a building. 
Manhattan New York Condos: You own the apartment plus a percentage of the building's common areas. Condo buildings have monthly "common charges" to cover building-wide services (management, door staff, plumbing, roofing, common walls) but these charges are usually much smaller than co-op maintenance charges.
Manhattan New York Condo buildings have condo boards and board of directors but they cannot deny sales or rentals-making condos very attractive to investors. Condos are usually more expensive than co-ops-there are fewer of them and there's a high demand.
Lending banks are lenient about condo buildings-if you borrow 75% or less of the price of your condo, a lender won't review the building's finances, and all banks accept completed condo buildings that are 90% occupied.
Manhattan New York Condo is "Real Property", your loan is a mortgage secured by the apartment itself. Closing costs are higher for condos than for co-ops... 2% - 4% of the loan, as opposed to the flat $1500 closing cost for a co-op. Mortgages for condos carry about the same low rates as for single-family homes.
If you have just started thinking about purchasing it may be in your interest to contact a real estate agent for a free consultation regarding what type of property in New York City might be right for you.
- Manhattan Condo Listings
- How to Buy a Manhattan New York Condo (Part I) as first time home buyer
- How to Buy a Manhattan New York Condo (Part II) as first time investor
- How to Buy a Manhattan New York Condo (Part III) as Parents Buying for Children
Manhattan New York Condo Buyers: Yes, we know the Manhattan Condo market, we know where to look to find a good condo base on your needs. It is important to know that with the historic low interest rate, many of our savviest buyers and investors are on the market right now looking with us buying a very well priced Manhattan Condo. If you are on the market to buy, we encourage you to contact us today by calling (212)321-7122 or (917)837-8869. Email us at : Ehsu(@)Elliman.com for immediate respond.
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Eileen Hsu 許雅嵐 (email: EHSU(@)elliman.com)
We specialize in Manhattan New York Condominiums, townhouses, condops and cooperatives. We are condominium residents ourselves so we understand the Manhattan New York condominium community. We also enjoy all Manhattan neighborhoods, especially Upper West Side, Lincoln Square, Midtown East, Murray Hill, Financial District, Chelsea, Fifth Avenue, Greenwich Village, Nolita and etc just to name a few. If you or you know someone that may be interested in selling, buying or leasing their Manhattan New York condo, call us today (917)837-8869 or (646)644-6929 and we can discuss your specific Real Estate needs in private. Thank you.
To read more about Manhattan New York Real Estate, click on our websites below:
Manhattan New York Condo Specialists or Chinese Speaking Real Estate Agent
This is a very good explanation of condos I am here to tell you even natives do not know how they work and what questions to ask
Lots of information here, buying a condominium takes a lot of research!
here is some great information about how to buy a condo in Manhattan, New York City, Thanks for the info
Someday, Eileen....I have always wanted to live in the City and someday I will AND I'll know where to go to buy!