Monthly Archives: September 2011

Use Local Experts for your Manhattan New York condo purchase

Manhattan New York is an international city, we work with both buyers and sellers are from another state or country. In a typical Manhattan Real Estate transaction, there are many parties involved in a transaction: 2 or more attorneys, 2 Real Estate agents, Buyers and sellers, Title company, Mortgage professionals, and etc. At the closing table, often there are almost 10 people attending one closing.

In many occasions, our sellers or buyers often have previous work or business contacts that they prefer to use from another part of the world, country or even state (sometimes, it is a family relative, friend, or someone referred by someone they know.)

CAUTION! Every local Real Estate market has its own rules, laws and policies, by using the local experts, it will benefit you as the buyer or seller to have the most smooth transaction without stress or unexpected obstacles.

In a Real Estate transaction in Manhattan New York, below two are the key experts that you absolutely should use an local expert.

  • Attorney PLEASE use a Manhattan New York based REAL ESTATE attorney (this means not just any attorney can do the job, Real Estate attorney that is currently practice in New York is a must) that is familiarize with the type of property you are purchasing. Whether is condo or co-op or townhouse, be sure they have a stellar reputation and track record in representing clients. Many buyers use the amount of fee the attorney charge as a way to chose the attorney, it is good to be frugal, but their track record should be the most important thing and not the fee they charge. A good attorney can minimize your risk in the transaction, protect you from many unknown.
  • Mortgage Consultants – Buying in Manhattan New York is unique and very different than buying in any other state, county, or country. Mortgage consultants who has experiences working in Manhattan New York market will know how to navigate through the co-op or condo management to obtain the information they need in order to push your application through. They will also have a keen sense of the deadline in the contract and work with the Real Estate agents to get the coop or condo board package together.
  • Real Estate agents – As Active and full time Real Estate agents, we pride ourselves in working efficiently with our buyers and sellers to maximize their Manhattan investment. When working with buyers, we discuss the overall goals and timeframe, explaining the different housing inventory and expected price range, recommend appropriate mortgage consultant, accountant, attorneys(if needed), select the best suited property, negotiate essential terms for the buyer, facilitate the contract signing, working on condo/coop application, final walk through checklist, and eventual success sale. When working with sellers, our interest is always to maximize the seller’s profit in the most current market, set the price ahead of the market, creative and aggressively market the property, qualify buyers and negotiate favorable terms for the seller and facilitate the sale to closing table. To benefit your purchase or sale of your property, call us at 917 837 8869 so we can discuss strategies in detail.
Call us today (917)837-8869 to find your perfect Manhattan New York investment.
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216-218 East 47th Street Octavia Condo #21B One Bedroom condo For Sale

216-218 East 47th Street Octavia condo in Midtown East of Manhattan New York is one of most desirable boutique condo. This spacious one bedroom unit is on the 21st Floor with sun drenched sunny Southern exposure. The apartment has beautiful herringbone floor throughout and perfect floor plan with plenty of storage space (in addition, there is a large storage space in the building allocated for this unit).


Overview

Maps

Photos

Neighborhood

Market Stats

$610,000
Condominium
Main Features
1 Bedroom
1 Bathroom
Interior: 650 sqft
Location
216-218 East 47th Street
Apt 21B
New York, NY 10016
USA

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Manhattan New York Condos Eileen Hsu Team Manhattan New York Condos Eileen Hsu Team

(646) 644-6929
eileenhsunyc@gmail.com

The balcony off the living room for entertaining or afternoon reading when weather allows, and sun drenched bedroom with en suite bathroom.
View Larger Map
This Midtown East condo is well priced at $610,000, so please do not miss this great opportunity.

Call us today at (917)837-8869 to schedule an appointment to see this.

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How to determine a good Manhattan NY condo investment?

We talked with a lady from California today who is looking to purchase a condo investment here in Manhattan New York because she believes now is a good time to invest in Manhattan New York.  I can definitely appreciate her views as we are seeing a lot of sale activities in this market and many of our serious buyers are finding good long term investments with our help.

We discussed her investment goals and we will stay in touch via emails until she arrives in New York in two weeks. Before we hang up the phone, she asked me what determines a good Manhattan New York condo investment.

Below are the three big points in my suggestions to her:

Location: Convenient location for public transportation, New Yorkers rely on public transportation such as subway, trains and buses.  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: Assuming this is an all cash purchase with no mortgage payment. The owner (or landlord) is responsible to pay monthly condo common charge and Real Estate taxes. So the lower combined carrying charge (the common charge and Real Estate taxes), the more net profit there is on the investment. Every building is different 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 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 $920,000 last week, and you can buy the downstairs unit with identical condition and layout for $900,000 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 period of time (month/week), 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, ultimately we are talking about a property that is going to hold it’s value and have the best opportunity to maximize appreciation in the future.  Every person comes with their own thoughts on what makes a good investment, but as an active real estate agent in the Manhattan condominium market our experience will help you make a more well informed buying decision.

Call us today at (917)837-8869 so we can discuss how to maximize your investment.

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How to Rent an Apartment in Manhattan New York (CHECKLIST)

We work with many international and out of town clients who often prefers to rent before they purchase so they can understand and familiarize themselves with the neighborhood better before making a purchase commitment. To rent an apartment in Manhattan, the application process can be longer and different than the rest of the country or world, so please follow our step by step guide to better prepare yourself.

Here is the check list before you start searching for the apartment:

  1. Organize and prepare the necessary documents to bring with you, including:
    • Letter of employment and salary verification (include start date if not yet employed)
    • Bank account numbers (checking and savings), credit card numbers
    • Names, addresses and phone numbers of previous landlords
    • Names, addresses and phone numbers of accountant and attorney, if applicable
    • Names, addresses and phone numbers of personal and business references
    • Tax returns- previous three years will be ideal
    • Pay stubs
    • Expected bonus (verification from employer)
    • Additional sources of income with verification
    • Personal identification with photograph – driver’s license or passport
  2. If relocating, prepare the necessary funds before coming to New York. Landlords will not accept personal or out-of-state checks. They require certified funds. Anyone renting or relocating must:
    • Establish a New York bank account before you begin your search. If this is not possible, bring the necessary funds with you.
    • Bring enough traveler’s checks to cover the cost of two (2) month’s rent (which must be converted into CERTIFIED CHECKS). This comprises the first month’s rent and one (1) month’s security deposit.
    • Bring funds to cover the broker’s fees if your company is not paying covering that expense. Majority of the time, Brokerage fees are paid by the tenant in New York City. These fees are due upon signing of the lease unless your employer is paying the real estate commission for which they will be billed directly.
    • Bring funds to cover a Credit Check: $50-$100+, can be credit card, it varies.
    • Bring funds to cover possible move-in/move-out fees (See Co-op/Condo Funds Needed).
  3. Contact us (917)837-8869 to discuss what your criteria is and your availability. The rental apartments turn over is very fast, so having a good plan is the key to secure the apartment you want.
  4. When you have made your apartment selection, you will be asked to fill out a rental application and one or more miscellaneous documents. We will negotiate price and lease terms for you. Upon acceptance, a credit report will be done, and your references will be checked.
  5. Leases will be signed and checks presented.

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Contact us today at (917)837-8869 to find your perfect apartment. Or email us for a quick response.

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Condos near NYU (New York University)

Condos Near NYU (New York University)

Are you looking for a condo near NYU (New York University)? You are probably not alone.  NYU is home to over 40,000 students, so you can imagine there is a huge demand for housing in the surrounding neighborhoods around NYU.  Located in the Greenwich Village neighborhood, NYU has a long history in the neighborhood and a large presence with it’s main campus in the Greenwich Village neighborhood.

With an estimated total number of students attending NYU in excess of 40,000 in any given year, the demand for housing is always going to be consistently high.  Outside of university housing options students will be looking for either a rental apartment or a condo near NYU.

To help parents to purchase a condo near NYU is something that we have lots of experience with.  A lot of parents decide to purchase a condominium for their child to live in while they are attending NYU and then most likely hold onto it as a long term investment, rather than pay rent for 4+ years. The condo market near NYU is rather limited.  Most of the building’s are co-ops which tend not to work as both an investment property and a parents buying for children situation.

For investors looking to purchase an apartment, condos near NYU is an excellent choice, as the demand is extremely high with the built in university market.

Most buyers looking to purchase or rent a condo near NYU start their search looking for condos for sale in Greenwich Village, then they expand to both the Union Square, East VillageSoho and West Village neighborhoods.  Any building within a 10 minute walk to NYU is going to see a high demand for potential housing.

Knowing which buildings would make the best long term investments is important, even if it’s a condo you need to understand each building’s policies to see if it will work for you.

If you are interested in purchasing a very established condo building like 1 Irving Place, or looking for a pre-war condo with lot’s of history and character like 59 West 12th Street or a

condo loft building like The Peterfield at 115 Fourth Avenue then you should contact us today to talk about what is available.  Whether it’s a studio apartment or a larger 2 or 3 bedroom condominium in a pre-war loft, condos near NYU is one of our specialities.

To understand about Manhattan Real Estate market, the Manhattan New York neighborhood of your choice and work with the market expert, call us at (917)837-8869.

click link below to email us: http://manhattannycondosforsale.com/contact/

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Manhattan Greenwich Village One bedroom Condominium Market Report

Manhattan Greenwich Village One Bedroom (1) Condominium Market Report
Greenwich Village is one of New York City’s most celebrated and desirable neighborhoods.
A rich cultural and historical tradition, Greenwich Village has some of the finest Manhattan condominium real estate for sale.  Most of Greenwich Village real estate is made up of cooperative buildings.  I would say that probably 85% of the building’s in Greenwich Village are cooperatives.  This makes the condominium market in Greenwich Village have a very tight amount of supply of available condominium apartments for sale.  There are a lot of reasons many buyer’s look for a condominium apartment, some being looking for the flexibility to buy it as an investment property and the relative ease of purchase without having to go through the cooperative process.
In Greenwich Village as of this blog post there are approximately 12-13 1 bedroom condos for sale in Greenwich Village.  That is a very small number, most buyers looking in Greenwich Village will also look in certain parts of the West Village, Soho, Chelsea, East Village and the Union Square area, but nonetheless that is a small amount of inventory to look at.
The price range typically starts around $850,000 for a true 1 bedroom in a condominium building, but for a full time doorman building in the heart of Greenwich Village, expect the price point to start around $1,000,000 and go up from there.
In the last 60 days, I see that 3 One Bedroom apartments sold and closed in Greenwich Village with a range in price of $1,110,000 up to $1,900,000.  The Average Days on Market for those Three Apartments from the time it went on the market to having an offer accepted was less than 45 days.  That means that the best priced apartments are seeing a lot of interest and are still going into contract very quickly.
If you are looking to buy a Greenwich Village 1 One Bedroom Condominium, you can contact me at (917) 837-8869 and we can discuss what your specific needs are and what is currently available.
If are the owner of a Greenwich Village condominium apartment and interested in selling, you can email http://manhattannycondosforsale.com/contact/
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Condos Near The Juilliard School

Many of our out of town and international buyers are parents buying for children that either work or go to school in New York. In our Manhattan New York Condos Near Universities series, we are discussing different condos near each universities. In this blog post, we will be discuss the condos near The Julliard School of music.

The Juilliard School is one of the most prestigious and distinguished performing arts conservatories not just in New York City but the world. Typically referred to as Juilliard, and located at 60 Lincoln Square Plaza. Juilliard is located in the heart of the Upper West Side’s Lincoln Square neighborhood.  There are a number of different condos near Juilliard available. If you are looking for condos near Juilliard for sale or condos for rent near Juilliard you will have many options.

Apartments near Juilliard School, will depend on what type of condominium you are looking for. If you are looking for well established condominium full time doorman condominium buildings in the Lincoln Square neighborhood, you have a number of options including, Dorchester Towers at 155 West 68th St, One Lincoln Plaza at 20 West 64th St, 30 West 63rd Street or The Coronado at 155 West 70th Street.  For a luxury hi-rise building, look no farther than one of the Millennium Buildings at 1965 Broadway, 101 West 67th Street, or 111 West 67th Street.  Or for a luxury new construction building, look at 200 West End Avenue, 10 West Avenue, The Adagio at 243 W 60th St.

Apartments near Juilliard School are available just depends on whether you are looking for a condominium for sale near Juilliard or a condominium for rent near Juilliard.  If you are looking for this type of apartment near Juilliard contact us today at (917) 837 – 8869 or email at http://manhattannycondosforsale.com/contact/

Our Top 5 Condos Near The Juilliard School

To contact us for Condos Near The Juilliard School Call (917) 837 8869 today.

Taiwanese-Chinese Speaking Real Estate Agent in New York city

Being a Chinese Mandarin Speaking Real Estate agent in New York is one of my biggest asset.  Manhattan is a city that has over 40 different world Languages spoken in this town. You could not walk around Manhattan without hearing a foreign accent on the busy street or on Subways.

As a Chinese Mandarin Speaking Real Estate agent,

I have learn majority of my mother tongue while I was growing up in Taipei Taiwan. I was born in Taipei Taiwan (Republic of China) 臺灣, The main island of Taiwan, also known as Formosa

(from Portuguese  Formosa, meaning “beautiful (island)”), is located in East Asia off the coast of China, southwest of the main islands of Japan but directly west of the end of Japan’s Ryukyu Islands, and north-northwest of the Philippines.

About 80% of the residents in Taiwan speak both Standard Mandarin (officially recognized by the Republic Of China as

the National Language) and Taiwanese Minnan (commonly known as “Taiwanese“; a variant of Min Nan spoken in Fujian province). Standard Mandarin is the primary language of instruction in schools; however, most spoken media is split between Mandarin and Taiwanese.  I SPEAK BOTH MANDARIN and TAIWANESE, thanks to my grand mother that only speaks Taiwanese so I had to learn the language as a young child to communicate with her. (Here is a photo of my mother and I.)

When our family moved to New York when I was a tennager, going to American schools, I often want to speak English more than Chinese so that I can fit in with others in the school. I often not want to speak much of my own language in school, partly because I was learning my way around how to speak like ‘an American girl’ with a proper accent. And I learn my English through ESL classes (English as Second Language class) Although my family have always remind me not to forget Chinese language as one day it will be very useful for me.

So far so true.  Being a Chinese Mandarin Speaking Real Estate Agent in New York, I have been reaping the benefits of being biligual, and working with many sellers and buyers who also share the same culture heritage. I have been servicing oversea investors that speaks Chinese and connecting sellers who would like to sell their property to oversea investors using my language and culture connection.

If you are a seller that would like to have your property showcase to our oversea buyer connection. Please contact us now at (646)644-6929. 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. http://chinesespeakingagent.com/contact/

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.

445 Fifth Avenue Fifth Avenue Condo

445 Fifth Ave is one of the most established condominium buildings in the lower midtown Fifth Avenue corridor.  Built in 1986, this 34 story approximately 180 unit apartment building is located at 39th St and Fifth Avenue.

A common feature of many of the spacious apartments in the building are the impressive views of the Empire State building and Midtown Manhattan skyline. Amenities include a health club, 24 doorman, sundeck, bicycle and storage spaces. The convenient location make this a highly desirable 5th Avenue location.

When you first see 445 Avenue Tower you will see that the lower floors of the building are made up of retail space. The retail space has a dramatic arched architecture that sets it apart from neighboring buildings.

Living at 445 Avenue will provide one of the most convenient Manhattan condominium locations.  Literally just a few minutes away from Bryant Park, the New York Public Library, transportation at Grand Central and many office buildings.  Across the street from the famous shopping of Lord and Taylor and close to Fifth Avenue shopping is a highly desirable feature.

Condominiums for Sale at 445 Fifth Avenue:

  • 1 Bedrooms are priced starting at $700,000
  • 2 Bedrooms are priced starting at $1,200,000
  • Duplexes and Penthouses start around $1,100,000 and go up to $3,000,000

Call us (917)837-8869 to discuss what will work for you.

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