Category Archives: Manhattan NY Condos blogs

Greenwich Village Condo Sale Report Spring 2012

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What’s the Greenwich Village apartments for sale market like right now?
Being in the middle of the spring selling season, we are seeing peak levels of volume activity.  Well priced apartments when they come on the market are selling extremely quickly.  Greenwich Village apartments for sale are some of the most desired types of apartments in all of Manhattan.

A few factors influencing the Greenwich Village New York Real Estate market specifically the condominium market:

1. Tight Control of Supply- Very few new condominium projects are built in the neighborhood and those that do are typically not high rise buildings.  The last project at 130 west 12th Street sold out very quickly, a very successful project.  Mainly re-sale condominiums are what comes available and those when priced well are selling at a fast pace.

2. Near Multiple Universities-Within the Greenwich Village area there are multiple universities including the ever present NYU and Stern Business School, Parsons and the near by Cooper Union and School of Visual Arts or SVA.  The close proximity to multiple universities brings with it a demand for housing.  We work with many parents who decide to purchase apartments while their children go to school and start working while in New York City.  Purchasing condominiums in the area as an investment unit is highly sought after because the built in demand and high rental prices are very advantageous for landlords.

Pricing in the Spring of 2012 for a Greenwich Village Apartments for sale in New York City:

Studio’s-Range from $550,000-$800,000
One Bedroom’s-Range from $850,000-$1,500,000
Two Bedroom’s- Range from $1,350,000 – $3,000,000
Three Bedroom-$2,500,000 and up
Penthouse Condominiums for sale in Greenwich Village – call us at (917) 837 8869

If you are interested to know about specific price ranges for a certain type of Greenwich Village condo for sale, call us today at (917) 837-8869 or email at
us here: https://manhattannycondosforsale.com/contact/

What is a NYC Condo Leasing Application?

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What is a NYC Condo Leasing Application?
As Manhattan NY condo specialists, we sold many NYC condos to investors that would like to rent out their condo unit as soon as the property closed. As part of our full service, we always help them rent out the condo unit to most qualified tenants.

It is extremely important to rent out to financially qualified tenants, when there is interest, we pre-screen each single perspective tenants and the process is much more than just a credit check to ensure the tenant is financially qualified.

After our initial pre-qualifying, Each NYC condo building have their own leasing application and required documents, the perspective tenants have to complete it throughly in order to rent an apartment in NYC.

From this example, you can see there are a lot of information required by the condo management and condo board.

Each building have a slight different requirement, this is an example of what most of the required items will be.

We as Manhattan condo specialists, we are experienced in qualifying tenants and work together with the perspective tenant to put the rental package together so it is complete it correctly.
As a condo owner, you should work with agents who are competent and able to find you the best tenants possible.
If you are a condo owner and would like to rent out your condo unit, contact us today (917)837-8869 so we can help you secure a qualified tenant. We as Manhattan condo specialists, we are experienced in qualifying tenants and work together with the perspective tenant to put the rental package together so it is complete it correctly.

As a condo owner, you should work with agents who are competent and able to find you the best tenants possible.If you are a condo owner and would like to rent out your condo unit, contact us today (917)837-8869 so we can help you secure a qualified tenant.

Dorchester Towers NYC- Rental Market Report Spring 2012

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155 West 68th Street-Dorchester Towers Condo Rental Market Report Spring 2012

Manhattan New York Rental market is very seasonal, Spring Summer is one of the most optimal time for both condo owners and renters to be out and start looking for their next rental apartment.

In our past experiences in renting out many units for our investor owner or out of town owners, In the middle of winter or very cold weather season, we usually do not see many renters out looking or willing to move.

We helped many Dorchester condo owners selling and renting their units for many years now,  we can say that Spring rental market is traditionally the strongest time based on our past experiences.

155 West 68th Street is a building that almost half of the building is owned and rented out by the original building developer (sponsor) and the other units are owned by private condo owners. An potential tenants can either rent from the sponsor’s management company or an individual owner depending on availability.

At 155 west 68th Street, Management units are usually very updated and brand new renovation. On the other hand, condo owners will have very different or varying degree of renovation.  The original 1960s condition apartments will be the most challenging to rent in our experience.

Dorchester Towers Condo is a pet friendly building, at the same time, the condo owner can decide whether they want to allow pet in their rental unit or not. We would say 25% of potential renter will have a pet, if you, the condo owner is open to pets, that will broaden your range of potential renters.

Pricing for a Dorchester Tower’s Rental units as of 4/2012:

  • Studios- $2500-$2900
  • One Bedrooms-$3000-$3500
  • Junior 4(Convertible Two)- $3800-$4700
  • Two Bedroom/Two Bathroom-$5200+

If you are a Dorchester Owner and is interested in renting your Dorchester Towers apartment, call us today at (917) 837-8869, we will discuss how to maxmize your rental price in todays market and secure a highly qualified tenant for you. You can also email us at EHSU@elliman.com

Dorchester One Bedroom For Rent

How much down payment does Foreign Buyer need to buy One Bedroom condo in Manhattan New York

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How much down payment does Foreign Buyer need to buy One Bedroom condo?

There is no clear cut answer to how much down payment a foreign buyer will need.

Through our many successful experiences helping foreign buyers, we can provide you some ideas as to what to expect if youare thinking about financing or obtaining mortgage in the United States.

If you are a foreigner national thinking of buying in Manhattan and want to obtain financing by US bank, you will need to prepare many documents and substantial amount of down payment in order to satisfy bank’s requirement and qualification.
On various property websites, perhaps you see Manhattan condominium buildings only require a 10%

down payment. Keep in mind that 10% is what each condo requires, but each bank will require much down payment more depending on each of your situation. Here are some different factor that will determine how much down payment is required:

  • How much is the loan amount (the money you want to borrow from the bank)
  • Different Type of Loan
  • Your financial profile ( you may have to provide your home country bank information so the US bank can verify your assets or possibly ask you to open up a US bank account)
  • The building you are interested in (US bank will evaluate each condo building and decide if the bank would want to lend in that building.)

It is in our experience that unless you have started the loan application, the bank will not be able to provide you their approximate estimation for the down payment, but usually the down payment is minimum 30% of the purchase price of the condo.

Many of our foreign international buyers put down payment 30% to start, sometimes up to 50%, it will really depend on the factors we mentioned above.

If you are thinking of buying a $1,000,000 condo in Manhattan New York, your down payment is going have to be at least $300,000. (this does not include your other closing cost of a condo)

Many foreign international buyers are not familiar buying in Manhattan New York, we helped them through the buying process and everything they need to know about the market and how Manhattan New York works here. If you are thinking of buying Manhattan condo, call us today (917)837-8869, or email us so we can talk about what you need to prepare before your trip to NYC.

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Central Park South- a neighborhood that is right next to Central Park!

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Central Park South is one of the premiere residential destinations in all of Manhattan.

Only three blocks long and located between Central Park West and Fifth Avenue.  With some of the quintessential views of Central Park, there are many residential real estate choices in some of the best condominium and co-op buildings. You also have 5 star hotel accommodations at the prestigious Plaza Hotel, Ritz Carlton or Jumeirah Essex House.  Central Park South offers more than just world class views, one of the best destinations in all of Manhattan but also one of the most convenient locations in the city.
With Central Park at your doorstep, the shopping of both Fifth Avenue and Madison Avenues along with the shops at Columbus Circle, the arts at Carnegie Hall and Lincoln Center, you will have the best that Manhattan has to offer at your fingertips.

Condominium residences at both the Plaza Hotel and Time Warner Center bookend Central Park South along with the Jumeirah Essex House condominiums whether you are looking for a pied a terre or full time residence, Central Park South is an ideal location.

Call us (917)837-8869 if you would like to find a condo near Central park today as we have the market knowledge in this unique neighborhood near one of the most prestigeous park.

Market Report-2011 Sales at Georgetown Plaza at 60 East 8th Street

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Overall Thoughts for 2011 Sales at Georgetown Plaza at 60 East 8th Street:
Georgetown Plaza is one of the only cond-op buildings in the Greenwich Village/ Union Square neighborhood.  Because it is investor friendly and has flexible purchase policies, it has become one of the more desirable buildings.  Apartments when priced within the most recent comparable sales, typically sell quickly and at strong prices.

The roof top deck and views are always a major attribute to the building.  Renovated apartments are selling the quickest and at the highest prices, as most buyers do not want to go through a lengthy renovation process.  Because of the close vicinity to NYU (New York University), there is always a consistent demand for rentals, making apartments in the building equally attractive for an investor looking to rent out the apartment.  A very low supply of apartments is expected and we continue to see most apartments go into contract quickly when coming available.

Most apartments sold close to their asking prices, something that we expect to see in 2012.  Georgetown Plaza is one of the most well established buildings in the Greenwich Village neighborhood and we continue to see strong demand in the foreseeable future.

We hope you have found our market report valuable and informative.
In this consumer savvy and an immediate need for information days and age, it is most beneficial to work with a real estate agent who knows the market and understands the subtle differences that can make a big difference.  If you are interested in condops for Sale at Georgetown Plaza or in the Greenwich Village neighborhood call us directly at (917)837-8869 or email us at https://manhattannycondosforsale.com/contact/

We look forward to speaking with you.

Georgetown Plaza Part 3 – TWO BEDROOM in Manhattan New York

Georgetown Plaza Part 2- One Bedroom apartments

Georgetown Plaza Part 1- Studio Size Apartment Market Report

995 Fifth Avenue The Stanhope Hotel

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995 Fifth Avenue, New York NY 10028-The Stanhope Hotel

995 Fifth Avenue Condop located across from Central Park and the Metropolitan Museum of Art.  Originally built in 1926, as the Stanhope Hotel, and designed by famous pre-war architect Rosario Candela.  Rosario Candela designed some of the most prestigious buildings in the Upper East Side most notably 740 Park Avenue, 1040 Fifth Avenue, and 834 Fifth Avenue.  995 Fifth located at 81st and Fifth Avenue is a boutique building, made up of approximately 26 residences and sits positioned as one of the most prestigious and desirable condops near and next to Central Park located on Fifth Avenue. (photo from: http://www.nytimes.com/2008/09/14/realestate/14deal1.html)
Originally designed as a hotel, the Stanhope Hotel was one of the top hotels in the Upper East Side right beside the Carlyle Hotel in desirability.  A historically significant building, 995 Fifth Avenue, sits across on the south end of the Metropolitan Museum, with direct Central Park and Museum views.  This condop conversion started in 2007, the pre-war building was meticulously renovated keeping it’s pre-war architectural details, but renovated with a keen sense of modern conveniences and luxury buyer’s in mind.

One of the most notable features of the residences at 995 Fifth Avenue is the size of the apartments found in the building.  Most residences at 995 Fifth Avenue, this condop across from Central Park, are in excess of 4,000 square feet.  Upgraded infrastructures include individually controlled 4 Pipe HVAC systems, state of the art building wiring for all audio/visual needs.  995 Fifth Avenue has a 2500 square foot La Palestra fitness and spa, 24 hour doorman, concierge, resident manager, and additional storage.

Apartment features take on the pre-war aesthetic characteristics of the building.  Spacious and comfortable layouts, gracious apartment entrances, service entrances, Small Bone designed eat in kitchens, libraries, formal dining rooms, and all within the design elements of a Rosario Candela building.  995 Fifth Avenue continues to be one of the most in demand pre war condop buildings along Fifth Avenue in the Upper East Side.  995 Fifth Avenue is a condop, meaning that it is a co-op structure but with condo by-laws, creating more flexibility with purchase.  It also is on a landlease, which has an estimated 150 years left on it.  Sitting right along Fifth Avenue, many of the apartments have direct Central Park Views.

Typical Price Range for 995 Fifth Avenue Apartment for Sale:

  • Three Bedrooms:  $6,500,000+
  • Four Bedroom, Five Bedroom and Larger: $12,000,000 – $22,500,000
Contact us if you would like to schedule an appointment or want specific information regarding current availability of condos for sale at 995 Fifth Avenue.
For more information about 995 Fifth Avenue or other Condos for Sale near and along Central Park:
If you are interested in condos for Sale 995 Fifth Ave call us directly at (917)837-8869 or email us at EHSU(a)elliman.com.

Penthouse Condo for sale in Manhattan New York

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A Manhattan NY penthouse for sale is often regarded as the essence of luxury living in New York City.
A city full of skyscrapers a penthouse apartment allows you the ability to live at the top. A New York City Condominium penthouse possesses a variety of distinctive characteristics which set them apart from a traditional apartment.   Looking out from your Manhattan penthouse you  will  see the iconic Manhattan  landmarks such as Central Park, the Empire State Building, the Statue of Liberty, Hudson River to East River views and the Manhattan city skyline.

What is a NYC Manhattan Penthouse?
A Manhattan Penthouse is typically found on the top floor of an apartment building. In new construction condominiums you will typically have a series of the top floors in the building with the “Penthouse” or “PH” designation.

A penthouse typically shares a certain number of common characteristics:
  • A NYC Penthouse usually is much larger in size than the other apartments in the same building
  • Outdoor space is common including a private roof top garden, setback terraces, or large balconies.  In Manhattan having your own private outdoor space is a true luxury and epitome of a luxurious lifestyle
  • Panoramic Views are quite common.  Living in one of the top floors if not the top floor will allow you the best views Manhattan has to offer but with the peace and quiet of a top floor apartment
  • Unique Layouts-Duplex(Two Floor), Triplex(Three Floor), or Full Floor Apartments are typically found on the penthouse level of a building.  Now your apartment is like a home, but on top of a luxury condominium building.
  • The most sought after and rare penthouses will have features such as a Penthouse with a private pool or hot tub, penthouse with a wood or gas burning fireplace, private elevator access, full floor penthouses.
  • A New Construction condominium Penthouse offers the finest in today’s modern convenience?

Why Purchase a Manhattan NYC Penthouse Condominium?
If you find yourself in the position to buying your own piece of Manhattan, a penthouse condominium offers a luxury lifestyle of New York City.

  • Living in the top floor of a condominium will provide you with breathtaking views of Manhattan.  Looking out towards Central Park, the Statue of Liberty, the Empire State Building or river views will all be at your fingertips.
  • Some of the most exclusive and unique apartments will be penthouses, living in one will allow you a truly unique one of a kind Manhattan experience.
  • Manhattan New York view is better from the top. After a busy day you will be able to come back to your penthouse apartment and look out quietly  on Manhattan from your penthouse condominium
  • Penthouses represent the best Manhattan Real Estate has to offer.  Extraordinary views, personalized layouts with an attention to detail, and outdoor space that is truly desirable.
Where do I go to buy a Manhattan Penthouse Condominium?
We offer our penthouse buyers a level of service that is centered in having a detailed understanding of the condominium penthouse market in Manhattan.  The Manhattan condominium market is specialized for penthouse sales.   We know that a penthouse buyer has many specific needs when it comes to the penthouse unit they will call home.  Whether they are looking for a unique exposure, outdoor space spacious enough to entertain, private and exclusive entrances to the building, we accommodate all these needs through our understanding of the market.

Call us today at (917)837-8869 or email us to set up a private consultation to discuss the Manhattan Condominium penthouse that you are looking to buy. (http://manhattannypenthousesforsale.com/contact-us/)

One Bedroom Condo Penthouse-Manhattan New York

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One Bedroom Condo Penthouse-Manhattan New York

The One Bedroom Penthouse Condominium is going to make up the smallest percentage of penthouse condominiums for sale in Manhattan New York.  Most penthouse condominiums in New York City are quite simply more spacious in size.  A penthouse is usually going to start out in the two bedroom category and increase in size from there.  Reason being is that the demand for these types of trophy apartments are for larger spaces.

You can find a One Bedroom Penthouse Condominium for Sale in Manhattan typically in a new development condominium building.  Most new development condominium buildings are being built and marketed to have multiple “Penthouse” Floors.  It could be the top 2 floors or maybe as generous as the top 4 floors are designated penthouse levels.

The condo units on these “Penthouse Floors” are usually larger, more unique layouts, more outdoor space, optimal views and exposures than the standard floors in the same building. You can usually spot a building that has multiple penthouse floors by the way the apartments themselves are numbered.

These condo units are usually named PH1-A, PH2-A, PH3-A. The PH represents the Penthouse Designation, the 1,2,3 represent the penthouse floor it is on and the last Letter represents the individual apartment unit.   If you are looking for a One Bedroom Penthouse for sale in Manhattan New York more than likely the apartment itself won’t be on the very top penthouse floor as those will be for the larger apartments. However your penthouse apartment will more than likely be larger, have distinguishable characteristics that other apartments in the building do not have.
Expect pricing for a One Bedroom Penthouse Condominium to start at $1,000,000 USD, but pricing can easily reach $2,000,000-$3,000,000 for a luxury new development condominium with exceptional features including large amounts of outdoor space, panoramic views, loft like proportions.

We are very experienced in the luxury Manhattan condo market, therefore we understand and know penthouse buyers’ needs and have successful working experiences in catering to our buyers needs.

Contact us at (917)837-8869 or email us(http://manhattannypenthousesforsale.com/contact-us/) to discuss your Manhattan New York Penthouse search whether is for one bedroom Penthouse or other unique Manhattan New York penthouses.

Visit http://manhattannypenthousesforsale.com/ for other unique penthouses information, or call (917)837-8869 for your specific inquiries.

Eileen Hsu 許雅嵐, Chinese Mandarin Speaking Real Estate Agent NYC

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大家新年好, 我是Eileen Hsu 許雅嵐, 你也可以稱呼 我Eileen. 我是在曼哈頓做地產的經紀人 (Chinese Speaking Real Estate Agent).

今天您如果要在這裡投資, 或著說幫孩子買房子, 請您跟我來電, 我們可以詳細的談, 我的電話是646-644-6929. 我會馬上給你們回電.謝謝!

下面是其他重要的文章中的信息:

曼哈頓交易問與答:怎麼在紐約房地產界出價?

曼哈頓交易問與答：誰能幫我維修公寓？

400 Fifth Avenue New Condo Two Bedroom Two Baths

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400 Fifth Avenue is one of the newest condo building on Fifth Avenue. There is a luxury five star hotel from first floor to 30th floor, and the condo residences starts on the 31st Floor.

This 2 bedroom, 2.5 bath residence has Eastern Exposure of the Manhattan cityscape and East River, the building facade has one of the kind diamond angled windows which enhance the light, air and view from each room. The condo residences has black oak flooring, Miele kitchen appliances, a Subzero refrigerator and Mont Blanc stone countertops.This building is developed by Bizzi & Partners and designed by Gwathmey Siegel with interiors by DAS Concepts Inc.

This unit is current now SOLD AND CLOSED, but there are other residences available for sale. Contact us today (917)837-8869 or email us for most updated available units.

We are Manhattan Condo specialists, whether you are looking for a new construction on Fifth Avenue, or a condo with Central park or Empire State building view, we can help. Contact us (917)837-8869 so we can discuss in detail of what you are looking for.

NYC Condos near Central Park on the Upper East Side MARKET REPORT

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NYC Condos near Central Park on the Upper East Side MARKET REPORT. Condominiums near Central Park on the Upper East Side is a specific and focused search.

The overwhelming majority of the apartment buildings both on Fifth Avenue, Madison Avenue and Park Avenue are all cooperative building.  Condos near Central Park in the Upper East Side is going to look at a select group of buildings.

A question may be, why purchase a condominium near Central Park when I could buy a co-op apartment when there are so many more of them available? The answer is usually quite simple, that the co-op purchase process for an apartment on Fifth Avenue, Madison Avenue or Park Avenue is going to be quite specific as to the financial and personal documentation including the board interview and approval process that will be necessary to buy into those buildings and if you buy into a condo near Central park in the Upper East Side you will be able to circumnavigate the board interview and approval along with much of the more intensive documentation requirements.

Along Fifth Avenue on Central Park, the condominium buildings include 923 Fifth Avenue, 817 Fifth Avenue, 1049 Fifth Ave-(by address, building entrance located on 86th Street), 995 Fifth-(condop building, The Stanhope Hotel), 1280 Fifth Avenue, just to name a few.

There are a number of mid-block condominium buildings in what were once mansions now converted to condominium buildings. These condominium buildings are typically smaller more intimate, often with no doorman, yet usually have all of the pre-war characteristics that are highly desired.

Along Park Avenue, still close walking distance to Central Park a number of condominium buildings are available.The other feature that is typically unique to these buildings is that you will have a few that are a lot taller than their surrounding buildings, giving the higher floor apartments tremendous views of both Central Park and the city skyline, buildings such as 900 Park Avenue or 502 Park Avenue both have Central Park views from the higher floor apartments.

Condos near Central Park on the Upper East Side Pricing:

Except the price to start in the $2,500 sq/ft range and go up from there depending on the unit. Central Park facing units will be commanding a premium along with certain Fifth Avenue and Park Avenue buildings that will also be priced at a premium.  For the fully renovated, higher floor, optimum views, outdoor space you could be looking at a range of $4,000 sq/ft+ for certain apartments that have truly unique characteristics.

Since September of this year, there have been approximately Seven (7) closed condominium/condop sales between Fifth Avenue and Park Avenue.  The average price per sq ft for those apartments was approximately $3,700 sq/ft.  The price range was from $3,850,000 to over $23,500,000.

With these types of sales and the range being so wide it’s extremely important to recognize the most relative comparable’s often found in the same building if you have any, the same type of view, size and condition.

If you are interested in knowing more about what is available for a condominium near Central Park on the Upper East Side, call us today at (917)837-8869 so we can discuss your interest and find the suitable Condominium near Central park on the Upper East Side for you.