New York Real Estate
New York Real Estate Investing Specials.
New York, New York, so they named it twice! New York property is known to be among the most expensive in the world, but what people do not realize is that in certain parts of Manhattan and certainly in Queens and Brooklyn, property prices are equal to or less expensive, Sydney, Melbourne or Auckland.
If you plan your New York real estate investment property following, then you might be wise to look at a couple of niches that I found during my stay in New York. I am based there since 2008 and have visited 5 times, staying up to 5 months at a time, so I have a pretty good idea about it.
New York, real estate is second to none. In fact, it is bought and sold like any other. Manhattan is the only place I've found where it is almost impossible to find properties on the Multiple Listing Service (MLS). It is widely excluded such "trivial, common service" and became the exclusive playground of New York real estate brokers. They wheel and deal them, often leaving the buyer with little sense of what is happening not to mention the true price / cost of things. This is not always the case, but you can not buy real estate in New York, no Manhattan real estate without a broker.
Buying real estate in Manhattan can be just as confusing!
Many buyers do not care to know the details and are happy for the broker to do all the work. Life is hard enough in the big apple without running around the house or apartment hunting, although buyers can see a good deal when it is put to them, it is an area of buyers for whom money is not an object, so perpetuate the elitist system between brokers.
The financial crisis has hit New York City hard and we may well see a continued decline in 2011, but it is like no other place on earth and Manhattan in particular has a resilience to external economic factors negative. The real estate market in New York is the same. It's supply and demand based as always, and there is always demand. Regarding supply hopefully they now sell air around buildings as real estate.
That being said, there are real bargains to be found in Manhattan, Queens and Brooklyn. Although you may be hard pressed to find a decent foreclosure in Soho or the West Village, forced sales are quite common in certain suburbs and outer boroughs. Choose the diamond in the rough is the key. New York real estate is as varied as in any city and there are really good areas and bad, sometimes defined by a street, so you need to decide exactly where you want to invest and why. This will determine the type of purchase. Do not just think you want to buy some real estate in New York and start looking.
Last year I stumbled upon a foreclosure in Park St, Brooklyn. A beautiful building in a tree-lined street on the edge of Prospect Park and Parkslope. Within walking distance of the shopping district and the best coffee, schools and metro. The asking price was $ 235,000. I traveled this road on my way to the park and I would really like to live there myself. The property was snapped up less than half its actual value on the market today.
Tell me where you can buy a 2 bedroom apartment in Melbourne or Sydney for $ 235k with all these advantages, and nearly a quarter of the CBD. In addition to this there was a subway ride 5 minutes from downtown Manhattan!
A level 4 house in Manhattan for selling way under a million dollars
There are deals to be if you want to buy real estate in New York. There are special offers currently in Manhattan itself. I saw them. I walked the streets and visited the properties myself, but be prepared to buy rundown and add value. Do not think you are going to buy a large property without a bit of work or without having to pay a lot of money. You can buy an apartment in Manhattan any day of the week. There are thousands for sale. But an apartment, it is exactly that, an apartment, like all the others. If it does not stand out one way or you can not add value, then your little New York real estate sits there, thank you to the current real estate market. Sure, you get a healthy rental amount, but there are huge costs for current and new condominiums York real estate taxes are high, do not expect a lot of changes, if any, at the end of months.
Offers in Manhattan are in houses, apartments not much, unless you can get a cheapy as described above. With a house, you have a choice. With a home in Manhattan, you exclusivity. With a house, your little New York real estate is suddenly a diamond in the rough with options galore, to redesign, multi-tenant, live, what you want, but the main thing is that when the market improves and it is these houses worth millions more than you paid, above the massive equity that you created with the improvements!
Some of you may say "there are houses in Manhattan?". Well yes, there are many of them worth millions and millions of dollars today, because they are many homes and insufficient and this demand. Greenwich Village At that worth 10 million + in the same West Village, Tribeca (more loft style) up to 30 million, even outside of Manhattan in the suburbs green Brooklyn, these houses, renovated worth $ 3-10m!
I would not pay that kind of money as an investor. I am looking for a property near future, where I can add value and long-term future, where I can sit idly by while its value returns .. I have two areas of Manhattan where New York real estate purchase is cheap right now. It will not, because I'm not the only one to have the same vision. I want to be, but I'm not very good. They are almost the only two surviving vestiges of the 70s and 80s, and if you know anything about real estate investing and New York or real estate, you will understand the importance of this fact immediately.
The price I'm looking to have a $ 400,000 capital creation or margin depending on whether you hold or sell now, rent a minimum gross $ 100,000 per year and probably the strongest capital gains perspective in all the country. You be the judge.
Renovated Greenwich Village - Market value $ 10 million today.
If you are interested in this kind of New York real estate investing, and I $ 1 - $ 1.3 million available to you, leave your details and comments below and I will contact you. I'll be in New York from early May to late October, the investment for me, but I'm too happy to help others, if you are serious about your intentions.
What I do know is that New York Real Estate is somehow much later, but often the subtleties of it are poorly understood and certainly deals are not sitting in your living room at home New Zealand or Australia.
When it comes to living in the East Village neighborhood of Manhattan, New York, you can bet there is plenty of diversity. With a varied section of retail, plenty of bars, amazing nightlife and plenty of restaurants, who wouldn’t want to give
