Monthly Archives: January 2011

Dorchester Towers Condo-155 West 68th Street 2010 report

The Dorchester Towers, built in 1965, is located in the prime Lincoln Center area of the Upper West Side in Manhattan. Apartments at the Dorchester Towers are well known to have spacious and practical layouts, numerous large closets throughout each apartment,  and open western and eastern exposures. The mix of the apartments in Dorchester Towers Condominiums varies with a variety of layouts including mostly studio apartments both straight and alcove, one bedroom and junior 4 apartments commonly converted to 2 bedroom layout, and very spacious 2 bedroom units. There are combination units forming larger 3, 4 and 5 bedroom apartments.

We are the Dorchester Towers specialists that have assisted many savvy owners in selling and leasing their Dorchester towers condo apartments.

In 2010, there were eight apartments sold at the Dorchester Towers Condominium at 155 West 68th St, New York, New York 10023.

For a comparison of years past, in 2006 15 properties sold, in 2007 12 properties sold, in 2008 12 properties sold and in 2009 11 apartments sold.

There was a dip in the number of properties sold in 2010.  This could be a result of a number of different factors.  Almost all of the properties that came on the market in the building during the year ended up selling.  Like the rest of the market typically the only sellers that put their apartments on the market actually want to sell them and buyers are only willing to make offers on apartments that are priced relative to whats selling in their respective buildings and in the neighborhood.  This creates a situation where fewer apartments trade.

We are going to provide a basic breakdown of the sales that occurred in 2010. As a Dorchester resident and also a Real Estate broker of Dorchester Towers I would like to note that pricing an apartment at Dorchester Towers has a lot to do with understanding the unique variables that make up this building.  Because the building is over 40 years old the condition of most apartments can vary widely, because of the unique shape and position of the building floor and exposure play a considerable part in the price an apartment will demand.  These variables are unique to each situation, and if you are curious about your specific apartment and how it compares to what’s sold, I recommend you to contact us (917)837-8869 so we can break down the differences between your apartment and what has sold this past year.  The figures we provide are accurate as far as the closing information we receive from multiple sources, but often prices are a reflection of different variables that are not as easily quantifiable.

The breakdown of apartments was as follows:

Three Junior Four Apartments Sold.

  • A 31st floor, 902 sq ft with 1.5 bath Junior 4 sold early on in 2010 for  $1,040,000.  This was a western facing(open views) renovated apartment with the second bathroom.
  • A 17th floor 975 sq ft 1 bath Junior Four sold for $870,000.00
  • A 21st floor 804 sq ft 1 bath Junior Four sold for $850,000.00

Junior Four Apartments are typically a 1 bedroom apartment with an L-shaped Living Room.  The addional wing of the living room can often be turned into a second small bedroom or used as a dining space.  Now at Dorchester Towers there are a number of different layouts for Junior 4 apartments.  Some layouts are more functional and have more value than others as the additional room will have a built in closet already and have a window.  The ayouts where the dining alcove space does not have a window or have a built in closet are not able to be marketed as a “real” bedroom space.

Three one bedroom Apartments Sold.  Average price was $646,833.  The average sq ft was 628 sq ft. That is about $1030 sq ft.

  • A third floor south facing 633 sq ft 1 bedroom sold for $626,000
  • A third floor south east facing 650 sq ft 1 bedroom sold for $672,500
  • A 17th floor West facing 601 sq ft 1 bedroom sold for $642,000.

The one bedroom market at Dorchester Towers is highly desirable as most of the apartments will fall into the $600,000-$700,000 price range. This price range in the Lincoln Square area for condominiums doesn’t have very much inventory with a fairly high number of buyers.

One alcove studio(Junior 1 Bedroom) sold for $560,000.  It was a western facing on the 5th Floor, 546 sq ft apartment.

One 3 bed 2.5 bath Sold -This combination apartment faced Broadway on the 18th floor sold for $2,150,000.  This combination featured over 1800 interior sq feet with an additional outdoor terrace, making it quite a unique Dorchester Apartment.

So how do these prices compare to 2009?

Breakdown of the type of units SOLD in 2009

  • Studios- 2 studios sold- Average price of $545,000 at an average price/sq ft of approximately $1001
  • 1 Bedroom-4 One bedrooms sold – Average price of $675,000 at an average price/sq ft of approximately of $1054
  • Junior 4*- 3 Units Sold, Average Price- $902,053 at an average price/sq ft of approximately $1,000
  • 3 bed/3 bath-1 unit sold at $2,200,000.00 price per sq ft of $1035
  • 4bed/3 bath-1 unit sold at $1,610,000.00 price per sq ft $782

One bedrooms are selling for about 4% less than last year. Junior Four Apartments if you take the average sold for about $1030 sq/ft, but in my opinion the 31st floor apartment is skewing the numbers as that apartment is not very typical of the average Junior 4 in the building.  The other two sales are more typical and both of those sold for around $860,000.00 at about $966 sq ft.

The larger two and three bedrooms do not trade very often so the valuation really depends on the renovation, view, floor and layout.

Overall, much like the rest of the marketplace, renovated apartments are selling for a premium compared to apartments that need work.  In this marketplace buyers who have to purchase and then renovate will demand and expect to receive a discounted price as the out of pocket expenses and time involved to renovate will be considerable.

Dorchester Towers has faired well in the Manhattan marketplace.  I feel that our prime location in the Upper West Side, our low common charges, and well maintained and serviced building have to do a lot with that.

Again, we (Morgan Evans and Eileen Hsu) are Dorchester residents ourselves, Thanks for taking your time to look at our Dorchester Towers Report, if you are thinking of selling, leasing or buying in Dorchester Tower, we would like to hear from you. We worked with many Dorchester sellers and owners in the building in selling or leasing their condo units therefore we are very familiar of this building, if you have a question, call us today at (917)837-8869.

[gravityform id=1 name=contactus form title=false description=false]

225 Fifth Avenue-Fifth Avenue Condo NY

225 Fifth Ave-Fifth Avenue Condo NY


Built in 1906 and originally known as the Brunswick Hotel, 225 Fifth was bought in 2006 to be converted into condominium residences and renamed The Grand Madison.
Located at 26th and 27th St on 5th Avenue in the Flatiron District, The Grand Madison was originally built featuring Renaissance Revival architecture. The handsome limestone base featuring a deep red brick facade, attractive cornices and detailed pre-war details establish 225 Fifth as one of the premier Fifth Ave Pre-War Condominium Buildings.


This Fifth Avenue condo has white glove full service building offers a 24 hour doorman and concierge, live in super, exclusive fitness center and valet services.  Valet services include dry cleaning, wash and fold, on-site tailoring and maid services.

The Grand Madison-225 Fifth Avenue is one of the only pre-war condominium buildings located anywhere on 5th Avenue.  With the revitalization of the Madison Square Park neighborhood in the early 2000’s, this building is a sophisticated landmark of downtown living.

Condo units at 225 Fifth Ave:
One Bedrooms started at $950,000.00
Two Bedrooms start at $1,900,000.00
Penthouses start at $2,200,000.00

  • 25 Fifth Avenue-Lower Fifth Avenue condo
  • Union Square condo-Zeckendorf Towers1 Irving Place
  • Greenwich Village-Union Square condos
  • Looking for a particular Fifth Avenue or other location NYC condos? Drop us an email and we will get back to you promptly.

    [gravityform id=1 name=contactus form title=false description=false]

    Where Foreign Investors Want to Buy?

    Where Foreign Investors Want to Buy
    New York is expected to be the favorite city for foreign real estate investments in the U.S. and globally in 2011, according to an annual survey of members of the Association of Foreign Investors in Real Estate. Washington, D.C., came in No. 2 both within the U.S. and global markets for cities where foreign investors most want to invest in the new year.

    More than 72 percent of the association members say they plan to invest more money in U.S. real estate this year than in 2010.

    “As the fear of a double-dip recession has faded, investors are becoming more enthusiastic about the prospects for the U.S. economy and are taking aim at real estate investment opportunities,” says James Fetgatter, AFIRE executive director. “However their strategy is more akin to a rifle than a shotgun. Except for multi-family housing, they are not scattering their interest throughout the U.S., but rather narrowly targeting it to New York City and Washington, D.C., to an even greater extent than in previous years.”

    The top U.S. city picks among foreign real estate investors in 2011 are:
    1. New York
    2. Washington, D.C.
    3. Boston
    4. San Francisco
    5. Los Angeles

    325 Fifth Avenue-Midtown South Fifth Avenue Condo

    325 Fifth Avenue-Midtown South Fifth Avenue Condo

    325 Fifth Avenue is a 250 unit condominium building located in New York City’s Murray Hill offering luxury condo apartments for sale. Announced in 2004 and completed in 2006, 325 Fifth Ave is located right across from the Empire State Building. This 50 story tower has some of the best Empire State building views in a luxury high rise full service building.

    This Fifth Avenue condo at 325 Fifth Avenue has 24 hour attended lobby has both a doorman and concierge. Walking through the buildings glass facade and into one of the more spectacular lobbies, including a waterfall, impala dark black granite floors, custom designed walls and an amazing floating wood coffered ceiling.

    325 Fifth Ave  condo features a second floor 10,000 square foot residents club. Showcased with a fitness center, swimming pool, sauna and steam rooms, massage room, yoga studio, cardio facilities, children’s playroom, lounge area featuring a fireplace and pool table.  These common elements are all included within the building.

    325 Fifth Ave is a convenient Midtown South/Murray Hill location.  With quick access to Midtown and the Flatiron District with Empire State and skyline views from many of the balcony’s found in the apartments make this a desirable building.

    325 Fifth Avenue Apartments in the building feature loft-like proportions with higher ceilings, large windows and many have outdoor space.

    • One bedrooms start at $850,000.00
    • Two Bedrooms start at $1,550,000.00
    • Three Bedrooms start at $2,300,000.00

    To receive specific pricing and find the perfect 325 Fifth Ave condo, contact us now. Call (917)837-8869.

    For other Fifth Avenue Condos and other information, click on the links below:

    1. 25 Fifth Avenue-Lower Fifth Avenue condo
    2. Midtown Fifth Avenue condo -425 Fifth Avenue
    3. What is a pied-a-terre in Manhattan NYC
    4. Foreign Buyer Frequent Asked Questions
    5. https://manhattannycondosforsale.com/nyc-properties-search/

    Gramercy Starck Rentals specialist-Morgan Evans

    Commonly Asked Questions:

    How to Rent an apartment in Gramercy Starck condo? Gramercy by Starck condominium is one of those buildings that makes a statement. If you don’t like those plain vanilla cookie cutter rental buildings you are going to love Gramercy Starck.

    To Rent an apartment in Gramercy Starck condo, you will enjoy the amenities the building provides. Unlike most rental buildings there is a high level of finishes and amenities that hard to find elsewhere. When you walk in and are face to face with the huge Renaissance portrait and standing underneath the mega-lampshade-chandelier you know where you are at.

    The apartments are outfitted with high end appliances, washer/dryers in ALL of the the units, and full access to all of the amenities without any additional costs.

    You will have full access to the completely outfitted fitness room with sauna and steam rooms in the his and her locker rooms.

    Are short term rentals available?

    The building requires 1 year minimum leases, so a short term rental is not possible within the building by-laws.

    Are pets allowed?

    The building allows pets, but each individual owner might not.

    Is there a broker fee?

    This is a very commonly asked question, this is a condominium building and you will be renting from an owner not a management company. So typically if the apartment is listed through a brokerage company there will be a broker fee involved, this fee varies but can be anywhere from 1 month broker to 15% of the first years annual rent. Each apartment will be different.

    How much is the security deposit and is it first and last months rent upfront?

    There is no umbrella answer to this question as each owner will have a different requirement based on their preferences and your   but generally expect at least the first months rent upfront and at least 1 months security.

    How soon can I move in the Gramercy Starck Rentals?

    Gramercy Starck Condominiums has an application process.  This application process can take at the very minimum two weeks up to 30 days depending on how quickly the application is submitted with all of the necessary documentation and board approval.  So if you call us today looking to move in tomorrow or a few days from now, we won’t be able to accommodate.

    For a complete list of the current apartments for sale or rent at Gramercy Starck or for condominium apartments for sale or rent in Downtown Manhattan call Morgan Evans (917)837-8869 for further details.

    [gravityform id=1 name=contactus form title=false description=false]

    call Morgan Evans (917)837-8869 now!

    International students’ parents buy Manhattan NYC Condos

    International students’ parents buy Manhattan NYC Condos

    Many of our foreign buyers are parents of International students from Europe, Asia, Canada, Latin America and other countries. Other than many career and investment opportunities, Manhattan New York has many distinguish universities and colleges that offers many international students undergraduate and graduate degrees. We helped many parents of international students from New York university, Parsons school of Art and Design, School of Visual Arts (SVA), Columbia University, the Jillard school, Cooper Union and other academic institutions.

    Here are some options for international students and the parents to consider:
    School dormitory: If the student is very young and new to New York, the first year or first 6 months they usually stay in the dormitory so they can familiarize themselves with the city. This option is usually more expensive than renting an non-dorm apartment in the school surrounding areas.

    Renting an non-dorm apartment: This option costs slightly less than dormitory, although as an International student or foreigner, majority landlords requires extra security deposit sometimes up to 6 months of rent upfront to 12 months rent to establish relationship and security. If the student or parents do not have United States social security number, nor US credit history, the parents usually have to pay for one year upfront to obtain an rental apartment.

    Buying a Manhattan New York condo or building: This is often the option for most of the international parents chose. In today’s market, there are well priced Manhattan New York condos for international students and parents to choose from.  The important thing is to establish the location, the price range and the time frame to maximize the Manhattan New York condo search.
    Call us directly at (917)837-8869 to discuss your specific purchase as an international student or parents.

    Buying a Manhattan New York Condo as parents buying for children, you should plan ahead, and speak with all the parties involved (not you and your child but rather the right mortgage consultant/banker, accountant and a knowledgeable Manhattan Real Estate attorney.)

    • Mortgage consultant: If you are planning to buy the condo all cash, that is always desirable when presenting offers to condo sellers. Keep in mind that you should have enough equity in case there is an increase in monthly carrying charge for this condo or other misc mishappens. If you are planning on financing this investment, be sure to speak to a local Manhattan lender that is familiarize with the market, the lending rules, and the mortgage products that may be suitable for you and your son/daughter.
    • Accountant: If you are planning to co-purchase the condo with your child, be sure to discuss the possible tax complication you may have with your accountant. Speak to your accountant prior to your purchase can be very helpful.
    • Manhattan Real Estate Attorney: In addition, speak to a local Real Estate attorney will be helpful as well since the local Manhattan Real Estate can also advise you what is the best way to structure the purchase and think about who/how should take the title of the deed.

    Looking to buy a condo for your son or daughter? Fill out the form below and we will contact you promptly to help you out.

    [gravityform id=1 name=contactus form title=false description=false]

    You can also call us directly at (917)837-8869.


    Other helpful information in buying NYC condos:


    Can a Foreign National Buyers and Investors buy a Manhattan New York co-op?

    Facts about True Foreigners invest in Manhattan New York Real Estate.

    We work with many Foreign National buyers and investors from different parts of the world, we often have to explain to the buyers about the Manhattan New York  Housing Product (Condo or Co-Op). Often, we encounter the question….

    “Can a Foreign National Buyers and Investors buy a Manhattan New York co-op?”

    Co-ops are 90% or more of New York Real Estate. Co-op buildings are governed by Co-op Boards, the co-op board makes esseential decision about the building and set building house rules and policies. Among those decisions, Co-Op board of directors approve and interview every potential purchaser.

    Foreign National Buyers or Investors to buy an apartment in a co-op building are not easy for several reasons:

    1. Co-op purchaser approval takes weeksif not months — and is a rigorous and notoriously difficult process. The majority of co-ops only approve buyers with New York employment, US income tax and excellent credit history in the US. The law doesn’t require a co-op to even provide an explanation for a potential buyer’s rejection.
    2. There are often restrictions on how much financing a buyer can use (for example, no more than a certain percentage of the unit price).
    3. Almost all co-ops restrict the right to sublet your apartment, which makes it unattractive to investors. Usually, co-op apartments cannot be rented out at all or can be rented out for 1 or 2 years after a certain number of years of owner occupancy.
    4. Co-ops regulate your use of the apartment in many other ways… including having guests or performing renovations.
    5. When selling (or renting it out when allowed) a co-op, your buyer will be subject to co-op approval as well, which reduces the number of qualified buyers and therefore reduces the price of your investment.
    6. There are often additional “flip taxes” on the resale of a co-op to discourage speculators.

    All these measures are intended to protect interests of other co-op shareholders and make sure that a new buyer is financially stable, and will always be able to pay for monthly maintenance, improvements and expenses of the building. In addition, often residents of co-op buildings often view their building as exclusive clubs and want to make sure that the building attracts only a certain type of people who use it in a certain way that makes all the residents comfortable.

    The purchase price of most co-ops is 10-20% lower than that of condos. Monthly expenses (maintenance), on the contrary, are usually slightly higher and include utilities, maintenance expenses, real estate taxes, and the corresponding share in the mortgage indebtedness of the building… if the building has a mortgage loan. In addition to the mortgage interest on their own loan, co-op shareholders can deduct their portion of the corporation’s real estate tax from their taxable income.

    Still, co-ops can be attractive for those who would like to use the apartment as a primary residence or as a pied-a-terre in Manhattan . For the most part, co-ops are older (prewar) buildings with beautiful authentic features, fireplaces, high ceilings, moldings… and sometimes even their own gardens.

    To Read More on Foreign Nationals buying Manhattan New York city Real Estate Click below links:

    If you are looking for a Real Estate Professional who understands Foreign Nationals buying in Manhattan New York city Real Estate and are looking for the right investmentment, or are selling your property contact Eileen Hsu or Morgan Evans at (917)837-8869 or Email us, we will reply promptly.

    [gravityform id=1 name=contactus form]


    8 Union Square South-a popular Union Square NY Condo

    8 Union Square South-a popular Union Square NY Condo

    This Union Square NY condo was built in 2007, and selling very quickly, this 14 story boutique condominium is located at 14th and University Place. Built by the Claremont Group, 8 Union Square South is a full service luxury doorman building. There is an on-site gym, exclusive membership to Quintessentially for all of your concierge needs.

    8 Union Square South is located at the crossroads of Union Square and Greenwich Village you have all of the best restaurants at your fingertips with views of Union Square Park.

    The condominium apartments at 8 Union Square South have Valcucine kitchens with Sub-Zero refrigerators, Miele cook tops, separate wall oven, and dishwasher. Bathrooms feature limestone floors and Waterworks fixtures. Floor to ceiling windows and 10 foot ceilings with most of the apartments having open views to Union Square Park.

    • Prices start for the 2 bedrooms at $2.5 million
    • Prices start for the 3 Bedrooms at $4.5 million

    Call us today at (917)837-8869 for updated and specific pricing of your Union Square condo.

    For other Union Square location condos information, click on links below:

    The Petersfield-115 Fourth Ave-Union Square Condo

    Union Square condos-The Petersfield at 115 Fourth Avenue is a truley rare condominium building.  This prewar loft condominium building located at the crossroads of the East Village, Union Square and Greenwich Village neighborhood offers a unique opportunity.  One of the only loft condominium buildings in this area, you will find 12 foot ceilings, extremely generous floorplans, large windows, full time doorman and a rooftop deck.


     
    115 Fourth Avenue-Petersfield Condo is located at the corner of 12th St and Fourth Avenue the Petersfield offers the convenience of the Union Square neighborhood with the neighborhood community of Greenwich Village.  This Union Square condo is walking distance to the many restaurants of the East Village make this a highly desirable location.
     
    Union Square condo Petersfield-115 Fourth Avenue Market Report: In 2010 this 70 unit pet friendly condominium building had studios starting at $850,000.  One bedrooms sold for between $990,000 and $1,100,000. And Two bedrooms for $2,195,000.  Currently as of Jan of 2011 there are two bedrooms asking $1,795,000-$2,195,000.

    For other Union Square location condos information, click on links below:

    Call Morgan Evans (917)837-8869 directly or email Morgan Evans for specific Union Square Condo search today.

    Zeckendorf Towers-Union Square Condos

    Zeckendorf Towers, also known as 1 Irving Place, is one of the most established condominium buildings in the Union Square area.  The building features four distinctive towers, Gramercy, University, Park and Village.  Each tower is capped with a pyramid that is lit up at night creating a dramatic backdrop in the neighborhood.
    This Union Square condo-1 Irving Place (Zeckendorf  Towers) is Comprised of 670 condominium apartments, and built in 1988. Zeckendorf Towers is located at the crossroads of Gramercy Park, the Flatiron District, Greenwich Village and the East Village.  A convenient location right next to downtown shopping, subways, restaurants, make this building a major staple in the Union Square condominium market.

    This Union Square Condo building features a unique level of services, starting with full time doorman and concierge service along with the 7th floor amenity areas.  Featuring a full service gym with a 60 ft pool along with a large sundeck overlooking Union Square Park.
    Zeckendorf Towers offers a variety of layouts and types of apartments.
    In 2010, 1 Irving Place (Zeckendorf  Towers) Studios were priced starting at $575,000.  One bedrooms started around $800,000 and went up to $1,000,000. Two bedrooms starting at $1,500,000 and going up to around $2,000,000.  Three bedrooms starting around $2,200,000.00.
    Call us directly at (917)837-8869 or email us to find your perfect Union Square Condo today.
    For other Union Square condos or other Manhattan New York condo information, read other related information links below:

    Foreigner Buy NYC Condos-FAQ

    We as Manhattan Real Estate professionals, we work with many international foreigners wanting to invest in Manhattan Real Estate. In addition to educate foreign buyers about the maze of Manhattan Real Estate market, our specialty is facilitate the purchase to ensure the transaction is smooth and successful. Below are some frequent asked questions by our foreign buyers, the answers are formulated by our team of professionals (tax accountants and attorneys who also specialized in foreigners purchase in Manhattan New York.) These answers are general and not case specific.  To best address your specific needs, contact us directly by email or call (917)837-8869.


    Can Foreign Nationals buy a NYC condo without having Social Security Number or US residency?
    Yes, they can legally, but have to meet the NYC Condo board’s requirements for approval. At the sale of the real property, Non-resident aliens are subject to federal withholding tax at 10% of the gross sales price, and to a 8.97% New York State estimate income tax on the net sales proceeds (gains).

    Can Foreign Nationals with work visa or student visa buy Manhattan Properties?
    Yes, they can legally, but have to meet the condominium/coop board’s requirements for approval.  If they remain non-resident aliens at the time of the sale of the real property, they will be subject to the same taxes at the time of sale, as above.

    If not, what kind of documents should a foreign nationals prepare to be able to buy?
    In order for a Foreigner to buy NYC condo, they need to have  a valid passport and/or other official photo ID for identification purpose.

    What are the Options for Foreign Nationals (non-residents aliens) to hold title for NYC condos: (these answers are information only, we are Real Estate professionals, therefore, before you make a specific decision, we recommend you to discuss with our team of attorneys and tax accountants for your specific case.)

    • Individual: Individual may be exposed to unlimited personal liability, and to estate issues, for instance, inheritance,  will probate and estate administration, when the individual owner dies.
    • LLC: Limited Liability Corporation provides insulation for members from personal liability, but will incur maintenance costs, such as  filing fees for its formation, annual franchise tax  and is subject to higher formation costs (higher than a corporation).
    • Trust: Trust is an unincorporated entity, cannot hold title by itself; title must be reqistered in the  individual trustee’s name.;  the individual trustee may be exposed to unlimited personal liability.
    • S Corporation: S Corporation is a legal entity, insulates shareholders for from personal liability, does not pay income tax itself, the income tax liability is attributed to the shareholders.  It is subject to filing fees for incorporation, annual franchise tax, etc.
    • C Corporation:  C Corporation is a full fledged legal entity.  It provides shareholders insulation from personal liabilities.  It is a taxable entity for corporate income tax.  Any distribution of after tax profit to shareholders in the form of dividends will be subject to income tax for the shareholder.  It incurs maintenance costs, such as filing fees for incorporation, annual franchise tax, etc.  Its filing fees are less than that for the LLC.
    • Limited Partnership: the limited partner’s liability is limited to his/her capital interest in the limited partnership, whereas the general partner will be subject to unlimited personal liability.  Limited partnership, like general partnership does not pay income tax.  The income tax liabilities are attributed to the individual partners. A limited partnership need to file the partnership agreement with the government.

    *These answers are general and not case specific. To best address to your specific case, contact us directly at (917)837-8869 or Email at EileenHsuNYC(@)gmail.com and we can set up a confidential consultation.

    If both husband and wife have green cards, will they pay tax similarly as above options?
    Resident individuals owning real property pay the same taxes, but not subject to the gross 10% federal withholding tax and the 8.97% New York State estimate income tax on the gains at the sale of the real property.

    Can the Foreigners avoid United States taxes?
    The taxes cannot be avoided.  The non-resident investor must pay the above taxes at the time of closing of the sale, without the tax payments, the deed will not be accepted for recording.  After having paid the taxes, the non-resident investor may, but need not, keep the proceeds in the U.S. without additional tax (except income tax on the interest payment on such proceeds).

    Are you a foreigner/international buyer and would like to invest in Manhattan New York Condos? Complete the contact form below, we will reply your questions today.

    [gravityform id=1 name=contactus form title=false description=false]

    NYC Property Search-NYC Realty

    Every Real Estate market is different, when it comes to NYC Property Search, Manhattan New York are especially unique in the world of Real Estate. The Manhattan Real Estate Market does not have MLS (Multiple Listing Service).

    To Search NYC properties is not an easy task. If you are moving from other parts of United States to Manhattan New York, it is hard to grasp the concept that we do not have MLS and as a buyer, it is sometimes tough to see or find all the listings at once, you may have to look through various websites to compare listings, there are many ‘unreal’ listings or out of date listings floating around different websites, it may be frustrating starting out as a relocating buyer.

    NYC Property Search can be easy if you are team up with the right Real Estate professional like us: 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 (917)837-8869. Email us at : EileenHsuNYC(@)Gmail.com or call (917)837-8869 for immediate respond.