Category Archives: Foreigner Buy Manhattan Condos

Just Sold-Mondrian Condo 250 East 54th Street New York NY 10022

Recently we were able to successfully sold a condo in the Mondrian condo located at 250 East 54th Street to an European buyer. This particular European buyer lived in Manhattan New York more than 20 years ago and had many fond memories of this wonderful city. Therefore, it has been this buyer’s dream to own a condo here so he and his family can stay whenever they visit this big city, and they can called New York their second home.

250 East 54th Street, the Mondrian condo located at Midtown East location is one of the most colorful condo in the Midtown skyline of Manhattan. The Mondrian condo has an Equinox fitness club with a pool is located in the building and residents have access through the main lobby. The building offers 24 hour premium services including an on-site building residents manager as well as full-time concierge, doorman and maintenance staff.

Mondrian condo is very desirable condo for someone who loves Midtown neighborhood, it is very convenient to all major transportation, offices, fine restaurants, theaters, and other entertainments that this city has to offer.

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Call us (917)837-8869 to find your perfect second home in Manhattan New York.

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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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.

Manhattan NY Condos FAQ: How can I buy NYC condo as First Time Investor?

Learn How to Buy a Manhattan New York Condo as first time investor. We are Manhattan Condo Specialists, we help finding suitable condos for first time investors, first time home buyers, parent buying for children and foreigner buying in Manhattan New York.

Buying a Manhattan New York Condo as first time investor you should have a clear goal of what you plan to achieve in this investment. Is this a 5 year Real Estate plan or 10 year Real Estate plan? Why do you feel is the time to invest? Are you going to have a tenant in place the entire duration or only part of the time. Have you discuss this with your accountant to understand how to structure this transaction to recieve the most tax benefits or possible tax complications?

Buying a Manhattan New York Condo as first time investor, you should ‘play it safe’, do not over leverage yourself. 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 alocal Manhattan lender that is familiarize with the market, the lending rules, and the mortgage products that may be suitable for you. We can recommend you a reliable and knowledgeable Manhattan mortgage consultant or You may have a bank that you are currently banking at, you can ask them to refer you a Manhattan branch mortgage banker as well. As an investor, the mortgage interest rate will be slightly higher than others, it is important to keep that in mind when figuring out your monthly expenses.

Buying a Manhattan New York Condo as first time investor, team up with us, 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 Real Estate investor, 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.

Or contact us:

https://manhattannycondosforsale.com/contact/

Manhattan New York condo buyers frequent asked questions:

West 67th Street – Manhattan NY Condos

West 67th Street – Manhattan NY Condos

West 67th Street in the Upper West Side of Manhattan has some of the most popular Upper West Side Condos for sale available. This historic park block street is noteworthy for a number of reasons.  Bounded on the west by Central Park you will find the historically significant Hotel de Artistes residences, a co-op building, on Columbus Avenue you have ABC studios and 45 West 67th St.  The Millennium Tower at 101 West 67th Street and Park Millennium at 111 West 67th Street are found between Broadway and Columbus.  These two buildings have some of the most dramatic Central Park, Manhattan skyline, and Hudson River views available. These Lincoln Center Condominium Buildings make up three of the most desired buildings in the Upper West Side all conveniently located on West 67th Street.

101 West 67th Street commonly known as the Millennium Tower. Built in 1994 by the Millennium Partners Development Company. The residences at 101 West 67th Street have arguably some of the most commanding views of Central Park, the Hudson River and Manhattan Skyline from an Upper West Side Condo building. The Millennium Tower is a 56 story with a 80+ condominium residences, not too many apartments per floor.

111 West 67th Street known as the Park Millennium is the twin of the Millennium Building’s  at 101 and 111 West 67th Street.  These buildings have separate entrances with full time doorman and concierge services.  These are pet friendly buildings with on-site laundry facilities.  One of the defining features of these buildings is being so close to the Reebok Sports club.  The Reebok Sports Club is one of the finest exercise facilities in the entire of Manhattan. Features include a swimming pool, multiple floors of cardiovascular and weight training areas, multiple group exercise rooms with classes running throughout the day, basketball courts, rock climbing wall, an outdoor running track, outdoor deck along with personalized training capabilities.

45 West 67th Street was built in 1983 it is a 33 story, 175 apartment Lincoln Center Condo building.  One of the reasons why this building is so popular is because of the mix of apartments available within it, studios up to 5 bedroom combined apartments.  There are even some duplexes and penthouses with outdoor terraces available which is quite rare for a Lincoln Center Condominium residence.    There is a 24 hour doorman, concierge, valet services, laundry, private garden, and storage available in the building.

It’s no surprise that West 67th Street is home to some of the finest Lincoln Center condominiums for sale. This historic park block has access to everything the Upper West Side is known for.  Walking distance to the Lincoln Center, Central Park, shopping and restaurants are right at your fingertips.

If you are intersted in knowing what is for sale in any of these West 67th Street – Manhattan NY Condos contact us today at (917)837 8869

Manhattan New York condo frequent asked questions:

Gramercy Starck Condo Spring 2011 Report

Gramercy Starck Spring 2011 Report-340 East 23rd Street New York NY 10010

Gramercy Starck Condominium located at 340 East 23rd Street has been very active in the sales and rental market so far in 2011.  If you are interested in Gramercy Starck,  looking to purchase or sell a Gramercy Starck Condo than this report will be very informative.

At the time of the publishing of this report there are 15 active condos for sale at Gramercy Starck. The range of the apartments is everything from a studio apartment for $540,000 up to a possible combined Sky House duplex for $5,100,000.  You have studio’s, one bedrooms, two and three bedrooms, skyhouse duplexes and a couple of penthouse condos for sale at Gramercy Starck.

  • Right now there are Three (3) studio condos in Gramercy Starck for sale ranging in price from $540,000 to $580,000.
  • The last Gramercy Starck studio to sell was a 16th floor South facing studio for $575,000
  • There are Five (5) one bedroom condos for sale in Gramercy Starck ranging in price from $799,000 to $975,000.
  • The last one bedroom to sell was a north facing 5th floor for $787,500.
  • There are two and three bedroom apartments starting at $1,595,000 up to $2,000,000.

If you are looking for one of the highly desirable Starck Penthouse or Sky House (duplex) apartments the pricing starts at $2,500,000 for the larger 2 bedroom sky houses and penthouses.  Contact us if you are interested in receiving the most up to date condos for sale in Gramercy Starck.

We are Gramercy Starck condo specialists, if you are a buyer looking to purchase a condo for sale at Gramercy Starck contact us today to receive an in depth analysis of what is available, what has sold, and when a new available condo unit comes on the market. Email us or Call us 917 837 8869, tell us your specific needs and we will put you on list and you will be notify if a unit becomes available that is suitable to you.

If you are an owner at Gramercy Starck and would like to sell, lease or buy another unit in the building, we can help. Contact us as we have successfully sold and lease multiple units for several owners in the building with our aggressive and creative marketing plan. Call us at 917 837 8869 or email us today.

To read more about Gramercy Starck Rentals and Sales:

  1. Gramercy Starck : January 2010 Report
  2. Gramercy Starck Rental and Sales Expert
  3. http://www.GramercyStarckRentals.com

West Village New York Condos- Village Pointe Condominium

WEST VILLAGE CONDOMINIUMS- Village Pointe Condominiums Located at the corner of 14th and 9th Avenue, the Village Pointe Condominium is one of the most ideal locations to experience everything the Meat Packing District and West Village have to offer.

This West Village boutique elevator condominium building has a live-in super and centralized laundry facilities. Made up of mainly studio’s and 1 bedroom apartments, with a few two bedrooms this is an ideal location as you are steps away from the shopping and nightlife of the Meatpacking District, dining possibilities at the Chelsea Market, close by to the Highline Park and all the West Village has to offer.

Very low carrying charges and a flexible sublet policy make this building an ideal investment and also a smart purchase for those looking to live in the apartment. Transportation will never be a problem as you have multiple subway lines and bus lines nearby including the A/C/E/L/1/2/3 within minutes of the front door.

Studio apartments are priced starting at $495,000 1 Bedroom Apartments are priced starting at $595,000 Penthouses and 2 Bedrooms are priced starting at $995,000-$1,250,000

Look for your own West Village Condo? Email us your specific requirement and we will get back to you promptly.

Other Manhattan New York condos must read:

  1. TriBeCa New York – A vibrant Manhattan New York neighborhood
  2. HOW TO MAKE AN OFFER in Manhattan New York Condominium Market?
  3. What is Common Charge in Manhattan New York Condominium Market?
  4. Who can fix my Manhattan New York condo if something breaks?

If you or someone you know would like to buy or sell Manhattan New York condominiums, please call us directly today at (917) 837- 8869 or (646) 644- 6929. We specialize in Manhattan New York condominium market and have experiences selling Manhattan New York condos in different neighborhoods, we offer confidential consultation customize to your specific investment needs.

Manhattan NY Condos FAQ: Who can help me rent out and manage the condo once I own it?

We are Manhattan New York condo specialists, we work with many out of town and oversea investors often asked about Manhattan New York condos. Often we are asked by our buyers of series of questions that are regards to the unique Manhattan New York condo markets. We will be answering these frequent asked questions and hope to help other buyers who are interested in buying or investing in Manhattan New York condominiums.

One of the common asked question by our out of town investor buyers: Who can help me rent out and manage the condo once I own it? This is a good question, we work with many out of town and oversea investor buyers that also asked the similar question because they are not Manhattan New York based and would like a full range of service. We as Manhattan New York condo specialists, we not only assist our clients sell, buy, invest their Manhattan New York condos, we also facilitate in securing a qualified tenant for their investment property. Once the condo is closed and owned by our buyers, we begin to market the condo as a rental property, answer to rental requests and appointment, qualifying the perspective tenant to ensure they are financially qualified and suitable for the condo. The fee for this service will be case on case basis. Manhattan New York rental brokerage marketing fee is 15% of the first year rent, though depending on the location of the condo, rental price and other key factors, we can discuss in details.

Managing the Manhattan New York condo, depending on clients needs, there are different options. Option one would be the owners manage the tenant and the condo by themselves, this is easy to do especially with Manhattan New York condo, there is a building staff and maintenance department a phone call or email away. Option two, we will be able to handle the property management in terms of being client’s contact person here in Manhattan New York, we will be collecting rent from the tenants, handling questions and inquiries and etc. There will be a fee in involved in this, as based on each clients’ need, we can discuss different packages we offer.

DO YOU HAVE A QUESTION IN REGARD TO MANHATTAN NEW YORK CONDOS? Email us!

EMAIL US TODAY: https://manhattannycondosforsale.com/contact/

If you or someone you know would like to buy or sell Manhattan New York condominiums, please call us directly today at (917) 837- 8869 or (646) 644- 6929. We specialize in Manhattan New York condominium market and have experiences selling Manhattan New York condos in different neighborhoods, we offer confidential consultation customize to your specific investment needs.

Manhattan NY Condos FAQ: What is Common Charge in Manhattan New York Condominium Market?

Manhattan NY Condos FAQ: What is Common Charge in Manhattan New York Condominium Market?

Common Charge often is abbreviated as “CC” in many of Manhattan New York property listings. Common charge is also known as Home Owner Association Dues in other parts of the country in United States.

In Manhattan New York condominium market, each owner of the condo unit are responsible for the monthly Common Charge. Depending on each condo buildings policies and rules, these common charges usually includes the salary of the building staff, operational expenses of the condo common space such as hallway, elevator, lobby, amenities(if any), each units water, gas usage, cool and hot air (although this may vary depending on the building).

In the scenario of a Manhattan cooperative(Co-Op), there will be a “Maintenance charge” instead of “common charge”. Please note that there is a difference between Maintenance charge and common charge due to the differences of cooperative and condominiums. “maintenance charge” usually is a total sum of the monthly cost of that particular cooperative unit, which includes the allocated shared building carrying cost, real estate taxes of the cooperative unit, underlying mortgage of the cooperative and etc. Manhattan New York condominiums common charge does not include any Real Estate taxes or underlying building mortgage.

Common Charge usually is billed by the condo management on the monthly basis. If the owners preferred, they can make an arrangement with the condo management to pre-paid the common charge if the owner is not Manhattan local based or will be traveling for a period of time.

If the owner of condominiums uses this Manhattan NY condo as an investment or rental property, then the owner of the condo is responsible to pay for the monthly common charge not the tenant. It is also advisable that the owner stay in charge paying the common charge instead of the perspective tenants, otherwise in case of the default of common charge by the perspective tenant, the owner may be liable for additional penalty cost or other serious consequences enforced by the condo management.

If you or someone you know would like to buy or sell Manhattan New York condominiums, please call us directly today at (917) 837- 8869 or (646) 644- 6929. We specialize in Manhattan New York condominium market and have experiences selling Manhattan New York condos in different neighborhoods, we offer confidential consultation customize to your specific investment needs.

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

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.

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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.