Manhattan Condo Living: HOW TO DETERMINE A GOOD MANHATTAN NY CONDO INVESTMENT

Eileen Hsu (許小姐) and Morgan Evans, the new generation of Real Estate Professionals. We specialize in Manhattan Condos, including: Resales, New Construction, Pre-Construction and Foreign Nationals buying Manhattan New York Condos. Contact us at (917)837-8869 or (646)644-6929 Today.

HOW TO DETERMINE A GOOD MANHATTAN NY CONDO INVESTMENT

HOW TO DETERMINE A GOOD MANHATTAN NY CONDO INVESTMENT

 

This week we talked to a lady from Hong Kong and she is looking to purchase a condo investment here in Manhattan New York because she understand that now is a good time to invest in New York city Real Estate.  We agree with her as we are seeing a lot of sale activities in this market and many of our motivated buyers are finding good long term investments with our help.

 

We went over her investment goals and we will stay in touch via emails until she arrives in New York end of February.

 

We also mentioned few key points as to what will determine a good Manhattan Condo Investment:

 

 

Location: New Yorker rely on public transportation to move from one point to the next, if the building is near a subway station, the condo is much easier to rent out or resell in the future. Nobody ever complains about having too many transportation options, but they definitely complain about having to walk 15 minutes just to get to a subway. 

 

Carrying Charge:  When it is an all cash purchase with no mortgage payment. The Condo owner (or landlord) is responsible to pay monthly condo common charge and Real Estate taxes. Therefore the lower combined monthly carrying charge, the more net profit there is on the investment. Every condo building varies when it comes to the common charges and real estate taxes so determining the value proposition each building has is a necessary aspect of the purchase.

 

 

Sale price: The sales price or purchase price of the condo is relevant to what has been sold in the building before, for example, if in the same building, condition, exposure, square footage size and layout is the same sold for $850,000 last week, and you can buy the downstairs unit with identical condition and layout for $835,000 because the seller is very motivated, then you may be buying a deal, relative to units in the building. When it comes to sales price comparison of 'a deal', it is always ideal to compare within the same building, same neighborhood, same market (period of time), condition and exposure of the condo to determine if it is a good deal or not. 

 

When determining a good Manhattan New York condo investment, we recommend property that will hold its value and have the best opportunity to maximize appreciation in the future.  We can discuss what your investment goal is and we can help you find the investment that will maximize your profit. Call us today at (917)837-8869 

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Eileen Hsu 許雅嵐 (email: EHSU(@)elliman.com)

Our team specialize in Manhattan New York Condominiums, townhouses, and condops.

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 goals.

Manhattan New York Condo Specialists or Chinese Speaking Real Estate Agent

 

Comment balloon 9 commentsEileen Hsu • January 24 2014 06:09PM

Comments

Eileen, what a great and valuable post for all Manhattan buyers!! Have a Happy & Prosperous New Year!, Endre

Posted by Endre Barath, Jr., Realtor - Los Angeles Home Sales 310.486.1002 (Berkshire Hathaway HomeServices) over 3 years ago

Yes, great advice Eileen.  And, yes, transportation proximity is so important for our area.

Posted by Debbie Gartner, The Flooring Girl & Blog Stylist -Dynamo Marketers (The Flooring Girl) over 3 years ago

I would think the easiest way would be to call Eileen Hsu and follow her recommendations!

Posted by Gabe Sanders, Stuart Florida Real Estate (Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales) over 3 years ago

Eileen - very cool blog post about your fascinating Manhattan condo market.

Posted by Jon Zolsky, Daytona Beach, FL, Buy Daytona condos for heavenly good prices (Daytona Condo Realty, 386-405-4408) over 3 years ago

Eileen...so much more to think about in Manhattan then in other areas...a buyer really needs a true expert like you!

Posted by Jeffrey DiMuria 321.223.6253 Waves Realty, Florida Space Coast Homes (Waves Realty) over 3 years ago

Eileen, this is great advice that applies way beyond Manhattan!  

Posted by Patricia Kennedy, For Your Home in the Capital (Evers & Company Real Estate, Inc.) over 3 years ago

Eileen, you are the best agent to contact when buyers are interested in a purchase or an investment in New York City.    Your expertise in invaluable to foreign buyers!

Posted by Joan Cox, Denver Real Estate - Selling One Home at a Time (Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373) over 3 years ago

Eileen those are great tips for anyone looking to buy a condo investment in NYC.  As a  Condo specialist your service would be invaluable to an investor.

Posted by Jennifer Fivelsdal, Mid Hudson Valley real estate connection ( JFIVE Home Realty LLC | 845-758-6842|162 Deer Run Rd Red Hook NY 12571) over 3 years ago

Hi Eileen, this is a great post! You are the best person to call when looking for condos in NY. Congratulations!

Posted by Nestor & Katerina Gasset, Realtors, Wellington Florida Homes For Sale (International Properties and Investments LLC) over 3 years ago

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