Yearly Archives: 2011

How to determine a good Manhattan NY condo investment?

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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)

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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)

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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 Village, Soho 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: https://manhattannycondosforsale.com/contact/

More helpful and information blog about Condos near NYU below:

Manhattan Greenwich Village One bedroom Condominium Market Report

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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 https://manhattannycondosforsale.com/contact/
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Condos Near The Juilliard School

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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 https://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

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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

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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.

Other Manhattan New York condo helpful information:

Central Park New York Condos With Terraces

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Central Park Apartments with terrace Have you been looking for a Central Park Condo with a terrace or outdoor space? There are very few buildings that have that rare of all Manhattan condominium features, your very own outdoor space. Having your very own private terrace or balcony is a highly desirable feature.

To begin with, there are very few condominium buildings that directly face Central Park. Now add in the combination of having outdoor space and you are looking at a very limited section of the market. To get a Central Park view, you either have to live in a building that directly faces Central Park, such as Fifth Avenue on the Upper East Side, Central Park South, or Central Park West on the Upper West Side. Or you need to find a condominium building that is tall enough to clear the buildings in front of it and still see Central Park, a building like 101 West 67th Street-The Millennium Tower, 25 Columbus or 60 Columbus Circle at the Time Warner Center, 1 Beacon Court or 721 Fifth Avenue, or the Park Imperial, just to name a few. The general room of thumb is that the higher the floor in a building, the more than likely you will not have accompanying outdoor space. Can you imagine being 60 stories up with a huge outdoor terrace?

To find a Central Park Condo with a terrace, you will probably have to live on one of the exclusive avenues facing Central park directly. A few examples of Central Park condos with terrace’s could be found at a building such as 160 Central Park South-The Essex House or 15 Central Park West, 279 Central Park West, on the Upper East Side at 1212 Fifth Avenue and other select Fifth Avenue Buildings.

Expect pricing to be quite specific to each building. Any apartment with direct Central Park views is not priced like other apartments that might be similar in size, they are priced and compared to other Central Park facing condos.

If you want the Central Park View but don’t absolutely need the terrace

and want to save on price then moving to a taller building that still has unobstructed views of the park is a great option. There will be more selection, compared to a search with outdoor space.

Overall, a search for Central Park Condos with a terrace will include some of the most exclusive apartments in all of Manhattan, having your very own apartment facing Central park is well worth the investment.

Contact us (https://manhattannycondosforsale.com/contact/) or call (917)837-8869 directly to discuss what exactly you are searching for in terms of the Central park apartment with terrace. These apartments are one of the kind and not always available, we can start the conversation early and we will put you on the list to contact as soon as one becomes available if they are not currently on the market.

To read more about Central Park neighboring buildings or Manhattan Real Estate market, see blogs posts below:

  1. Upper West Side
  2. https://manhattannycondosforsale.com/central-park-condos/
  3. Dorchester Tower Condominium-155 West 68th Street New York NY 10023
  4. The Coronado-155 West 70th Street New York NY 10023
  5. The Grand Millennium-1965 Broadway New York NY 10023
  6. Millennium Tower-101 West 67th Street New York NY 10023
  7. The Park Millennium-111 West 67th Street New York NY 10023

Central Park NYC after Hurricane Irene!

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Sunday after Hurricane Irene, we decided to go for a walk in the park since the weather looks stable and there are many other Manhattanites out and about especially the mass transit is still shut off.

Central Park looks just like another Sunday with many joggers, bicyclists, strollers and tourists enjoying the scenery.

Riverside Blvd & Riverside Park Manhattan New York

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RIVERSIDE BLVD Manhattan New York

Riverside Boulevard is the location of the Trump Park Buildings and now the Extell Development Buildings in the Upper West Side. Not to be confused with Riverside Drive which starts at 72nd St and goes north, Riverside Boulevard starts at 72nd St and goes SOUTH.  Right now it end at 62nd St, but will be lengthened as new development, specifically the Riverside South development project begins.

The Riverside South project was notably developed by Donald Trump and his partners.  Not an easy project that took some time to actually happen as it was a complicated and massive development deal.  The area was originally a freight rail yard owned by New York Central Railroad. Also complicated the development was the West Side Highway, which had to be buried for a certain amount of road.

After decades and many different configurations the project finally came to some fruition as a number of hi-rise condominium buildings were built under the Trump Place name and the Riverside Boulevard address was born. Riverside Blvd is home to the Trump Place buildings and now a number of Extell development buildings including The Rushmore and the new condominium the Aldyn.  There is still southern expansion of the area that is going to be the home of more condominium building’s along with planned parks, school, retail and community involvement.

Some of these buildings include 240 Riverside Blvd-The Heritage at Trump Place, 200 Riverside Blvd, Trump Place at 120 Riverside Blvd, 100 Riverside Blvd-The Avery, 80 Riverside Blvd-The Rushmore and 60 Riverside Blvd-The Aldyn.

Manhattan New York condo buyers frequent asked questions:

Other Upper West side Condo buildings:

If you are interested in purchasing, renting, selling or investing in any of the condominium buildings on Riverside Blvd contact us today at (917) 837-8869.

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East Village Neighborhood

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East Village Neighborhood

The East Village is a neighborhood in the downtown area of Manhattan.  It’s location would be described as North of the Lower East Side, East of Greenwich Village and south of Gramercy Park and the Stuyvesant Neighborhood and it’s eastern boundary is the East River.  Essentially it can be found north of Houston Street, East of 4th Avenue, and south of 14th Street.

Originally the East Village was known to be a part of the Lower East Side, but it developed it started to be identified as it’s own neighborhood in the 1960’s as the birthplace for the counter culture movement.  With counter culture at the heart of the East Village’s identity, a distinctive music and art scene was able to develop.  Known for it’s diversity, welcoming nightlife and entertainment, the East Village is one of the most distinct Manhattan neighborhoods.

To fully understand the East Village, taking a look at the area’s cultural, musical, and artistic history is the key.  Starting in the 1960s the area that was soon to be known as the East Village became the home of more artists, counter culture including the Beatniks, musicians and performers.  The term East Village started to appear in magazines and different publications giving the area it’s unique identity.

In the past decade, the neighborhood has seen a large gentrification movement of new condominium development, restaurants, and shopping move into the area.  The East Village is on the same path that other New York City neighborhoods were on just decades before it, including, Soho, Tribeca, and the West Village.

The residential real estate in the East Village is going to be a reflection of both it’s past, present and future.  You will have a combination of the original tenemental style walk-up buildings that make up most of the apartments for sale and for rent.  These mostly pre-war buildings offer a style of architecture and way of life that is going to be distinct to the neighborhood.  Then mixed in you will the new construction condominium buildings built in the past 10 years.  These are a reflection of where the neighborhood and much of Manhattan has been going.  These condominiums offer a luxury lifestyle that is a somewhat juxtaposition from where the East Village came from.

What makes the East Village desirable is the unique characteristics of the neighborhood, the restaurants, shopping, nightlife, the way of life found there.  Whether you want to live in a new construction condominium or in a pre-war building you can find it in the East Village.

Testimonial-Past Clients

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We stand behind our professionalism and successful track record. We have helped a list of happy past clients in selling and buying their Manhattan New York condos. You can read about their satisfactory testimonials below:

MorganEvans MorganEvans2

 

Andrew_Weiss

Hong_family

We love to eat, especially with buyers that we enjoy spending our time with. This is a wonderful family that we helped in buying a condo and here we are, enjoying some New York Italian food together.

Seller_Karen

Our favorite photo ever! This was taken after a closing for this motivated seller and her sweet baby. We were able to successfully sold their condo after almost an year with other agents! It was a very happy day!

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ChineseBuyerAgentDineWithClient

Another great family who bought New York condos for their children who attend universities here in Manhattan. We were happy to celebrate this over brunch!

Call us today to join this list of happy buyers and sellers (917)837-8869.

BillMcCune_Testimonial

Morgan_Dr.Chan

Happy Doctor, happy us! Morgan enjoying a great Chinese lunch with Dr. Chan who we were honored to work with!

ChineseRealEstateAgent_Testimonials

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Call us today to join this list of happy buyers and sellers (917)837-8869 or scroll towards to the bottom of this page to read MORE of our happy testimonials.