Buying a Condo in NYC for Investment

By
Real Estate Agent with Douglas Elliman Real Estate

Are you looking in Buying a Condo in NYC for Investment?

We work with consistently and successfully with buyers from both the United States and foreign investors looking to buy a condominium apartment in Manhattan New York City to turn into an investment.

If you are unfamiliar with the Manhattan Real Estate market, the first step to learn about the NYC Real Estate market.  That first step is to learn about the difference between a co-op and a condo and why that's important to you as an investor.
The next step is to learn about the pricing and what to expect within certain price segments and types of apartments.  An investor looking to purchase a penthouse condominium with Central Park Views and a buyer looking to purchase a studio condominium are both looking at properties with a high value proposition, however the characteristics that influence pricing are going to be different for each segment of the market.

So, let us know your price range, the type of apartment you are thinking of purchasing and we can start to talk you about availability and your expectations for buying a condo in NYC for investment purposes.

 

The next crucial step is how you are going to purchase this investment property or second home?
If you are a cash buyer that will make the purchase process much much easier.  Obtaining financing is possible, however the financing process is going to detail a very close and meticulous relationship with a local Manhattan bank.  We 100% recommend that if you need financing to purchase, you work with a mortgage consultant who understands and knows how the Manhattan condominium works. 

Often we have foreign buyer's who can obtain financing in their home country via various financial institutions, this is also a good way to buy a condo in NYC for investment purposes, as it will allow you to buy the condo as a cash purchase.

How much does it cost me?

Closing costs will depend on the price point you are purchasing, if you are financing the purchase, and the type of apartment you are buying.  In New York, the seller almost always pays the commissions, so you do not pay anything to have us work for you and represent you as a buyer's broker throughout the transaction.

What's the next step?

This may seem like a lot to take in, but the next step should be to contact us, and we will walk you through the process. It is our job to educate you on the purchase and then help you locate the type of apartment you are looking to buy.  Email Morgan.Evans@elliman.com or call us today (917)837-8869.

  We think you will find the below links helpful with related blog posts:

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Morgan Evans is a Licensed Real Estate salesperson in Manhattan New York specialize in neighborhoods such as: Greenwich Village, Soho, Union Square, Upper East Side, Upper West Side, Chelsea, Midtown West, Midtown East, Nolita, Lower East side, Financial District in Manhattan. Morgan specialize in working with international buyer, high net worth buyers,  parents buying for children and investors buyers. Contact him today by calling (917)837-8869.

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Re-Blogged 1 time:

Re-Blogged By Re-Blogged At
  1. Eileen Hsu 04/26/2012 12:57 PM
Topic:
Home Buying
Location:
New York New York County Manhattan Fifth Avenue
Groups:
Advice for Buyers
I Love NY
Power of Activerain
Tags:
manhattan condo
manhattan condo investment

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Show All Comments
Rainmaker
1,448,660
Joan Cox
Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Morgan, for those buyers interested in buying in Manhattan for investment or owner occupied - call Morgan Evans - the specialist in Manhattan!

Apr 25, 2012 08:02 AM #1
Rainmaker
659,962
Eileen Hsu
Douglas Elliman Real Estate - Manhattan, NY
LICENSED REAL ESTATE SALESPERSON

There is a lot to know when Buying a condo in NYC for investment, Morgan has all the expertise to assist the buyers to find the most suitable condo for them as Manhattan NY investments.

Apr 25, 2012 08:26 AM #2
Rainmaker
959,134
Georgie Hunter
Hawai'i Life Real Estate Brokers - Haiku, HI
Maui Real Estate sales and lifestyle info

Your market is so much different than mine!  It must be very exciting to do your job in NYC!

Apr 25, 2012 07:55 PM #3
Rainmaker
1,865,044
Gabe Sanders
the BlueWater Realty team specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Back some 40+ years ago when I was driving a cab through those streets, I knew them well.  Now, I wouldn't know where to start.  Good info!

Apr 26, 2012 04:44 AM #4
Rainmaker
652,863
Realty Works Temecula
Realty Works Temecula - Temecula, CA
Real Estate, Temecula, Murrieta, Menifee

Morgan:  Great post about investment purchases in Manhattan!  Good to spread the word about seller's paying the commission too!

Apr 26, 2012 08:12 PM #5
Show All Comments
Rainmaker
534,171

Morgan Evans

LICENSED REAL ESTATE SALESPERSON
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