Category Archives: Union Square NY condos

nion Square Condos is in a area where Neighborhoods around the square are the Flatiron District to the north, Chelsea to the west, Greenwich Village to the south, and Gramercy to the east. Many buildings of The New School are near the square,as are several dormitories of New York University. Many of our buyers asks us about Union Square condos because they love the neighborhood and the convenience of the all the shops and transportation. When a buyer asks about a ‘Downtown’ condo, most of the time they means the Union Square neighborhood. We have helped a photographer finding his one of the kind loft Union Square condo, and we have also helped an out of state parents to buy a Union Square condo for their son that is going to New York University graduate school. We know Union Square Real Estate market, we sell Union Square Condos.

Parents Buying for Children Manhattan New York condo MUST READ

We are Manhattan Condo Specialists, in our How to Buy a Manhattan New York Condo series, we talked about Know the Housing Product, Understand the Buying Power, Financial Report of the Manhattan Condo or Coop building, NYC Apartment Terminology, and this section we will talk about how parents can buy for children. We know the Manhattan Condo market and the specific needs of each type of buyers.

Buying a Manhattan New York Condo as parents buying for children, you should understand your budget and time frame to start. We work with many parents who are buying for their son/daughter that goes to New York University, Parsons school of design, School of Visual Arts, Columbia University, Jillards music school and other well known schools here in Manhattan New York.


Is this for your son or daughter that is currently working in Manhattan? Do they have a job stability or financial freedom? Are they currently renting and lease may be expiring soon or month to month arrangement? It is important for us to know the reason and timeframe so we can narrow down the search for you.

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, a knowledgeable Manhattan Real Estate attorney, but first, you should contact us (917)837-8869 to start the conversation early.)

  • If Buying all cash, and you are buying a condominium, the quickest we can close would be 45 days. If it is a cooperative, then it can be 90 or more days subject to condo board approval. If it is new construction condo, it can be two weeks up to unknown period of time depending on construction stage.
  • 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.

Buying a Manhattan New York Condo as parents buying for children, the experienced Manhattan Condo specialists that can guide you through this process and navigate through the Manhattan Real Estate maze. Whether you are a first time buyer, or an investor that have bought and sold multiple properties in other parts of United States or country, we can help.  Understanding the local market with the market expert can maximize your investment and avoid any possible problems down the rule. Many of our past clients are first time investors, they have bought many Manhattan condos under our guidance and continue to do so because we have developed a Real Estate plan for them. If this is something you are interested in, contact us now at (917)837-8869.

Here are some very useful information about buying Manhattan New York condos:

Other Manhattan New York Frequent Asked Questions:

If you do not see your question being answer in any of our blog articles, call us directly (917)837-8869 or email us (http://manhattannycondosforsale.com/contact/) and we will reply promptly.

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.

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


Other helpful information in buying NYC condos:


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:

Foreign National Buyers and Investors buying Manhattan NY Condos

Foreign National buyers and investors buying Manhattan New York Condos are majority of our clientele, we often have to explain to the buyers about the Manhattan housing market, which consist of Condominiums and Co-Ops. Often, we encounter the question….”Can a Foreign National Buyers and Investors buy a property in a co-op?”

Co-op buildings are governed by Co-op Boards, which make every important decision about the building and set building house rules and policies. Among those decisions, Co-Op board of directors approve 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.

 

Here are few considering factors for Foreign National Buyers and investors buying Manhattan condos must consider before investing in Manhattan New York Real Estate:

  • Why do you want to buy in Manhattan New York? Is it because of the currency conversion rate that makes the purchase to be an attractive investment?
  • Are you aware of the purchase process? In Manhattan New York, until there is a signed contract by both buyers and sellers, there is no deal. Verbal offer acceptance can change any time.
  • How much do you want to ‘disclose’ about yourself? In Manhattan New York, unless you are buying a new construction from a developer/sponsor, there will be a condo application where you will have to disclose your financial information. The condo board package is must for all of the resale condo units/apartments.
  • Do you know the difference between Co-op, condop and condo? Co-Op is an unique products that is very common here in Manhattan New York housing market. Co-Op is 85% or more of the market here and it is not investor friendly as Condomiums (condos).
  • How much financing do you plan to obtain if any? In today’s market, foreign nationals have some limited financing options, individual foreign nationals must discuss their specific status and financial picture with our financing experts to see if they are able to obtain a loan.

As experts in working with Foreign National buyers and out of town buyers, we are constantly educating the buyers and addressing the misinformation and false assumptions that client bring from his/her home town/country, and culture in order to explain the options, alternatives, and their consequences.

Elegant Prewar condo: 25 Fifth Avenue-Lower Fifth Avenue Condo

Located in this prime Greenwich Village location at the corner of 9th Street and Fifth Avenue, 25 Fifth Ave is a rare pre-war Condominium building in distinguished and desirable “Gold Coast” of Fifth Ave.

This Union Square condo is a handsome, brown-brick, pre-war apartment building has a prime Greenwich Village location at 25 Fifth Avenue on the northeast corner at 9th Street.

25 Fifth Avenue is a 14-story, pre-war building was converted into condominiums in 2000. The conversion was thoughtfully completed blending today’s contemporary amenities while showcasing the style of Greenwich Village’s pre-war heritage.

The condominium apartments for sale at 25 Fifth Ave have wood-burning fireplaces, high ceilings, ornate and high relief moldings and casements, many apartments with windowed kitchens and baths and modern appliances in the kitchens.  A 24 hour doorman, fitness center, laundry facility, bicycle room and storage spaces complete the amenity package in the building

At 25 Fifth Ave this Union Square condo, you have at your doorstep everything that Greenwich Village has to offer with the convenience of living in a newly updated building.

  • One Bedrooms start around $1,000,000
  • Two Bedrooms start around $1,600,000
  • Three Bedrooms start around $2,900,000
  • Four and Five Bedrooms price upon request

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

Call us directly at (917)837-8869 or email us to find your perfect Manhattan New York Condo today.