Guidelines for Buying or Leasing Pet Friendly Condos or Coops

Moving in to a new place when you have pets can be quite daunting, especially since there are a limited number of buildings that allow for such type of living arrangement.  When it comes to finding condos or coops for lease or sale, there are a few important things to remember in order to make the move as seamless and hassle free as possible.

Below are some guidelines for those in the market for pet friendly apartment buildings:

 

  1. Make a Shortlist of Your Choices- While big cities such as New York do have a significant number of buildings, it is recommended that you make a list of the top choices (maximum of 5 potential properties) that  can provide for your living requirements as well as that of your beloved pets.
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  3. Know All the Pet Habitation Rules by Heart- Each place has its own set of rules regarding pets, as to whether or not they are allowed in the premises as well as the number of pets allowed per tenant/home owner.  In most cases, condos also have strict policies on the size of the pets that are allowed to reside in the building, especially when it comes to dogs.  In addition, some types of animals are not allowed as pets such as reptiles, certain breeds of birds, and large creatures that are bound to cause too much disturbance in the premises.  Being aware of all the rules and regulations of the building you wish to reside in would make the process of choosing the right place is much easier.
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  5. Consider the Location- Pet owners are known for being staunchly vigilant when it comes to their companions’ well being, which means there is a need to consider the location of the building and its proximity to the animal hospital and/or veterinarian’s clinic and pet shops.
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  7.  Compare Lease Rates/Sale Prices and Other Fees- Whether you are leasing a or buying one outright, there are certain fees that pet owners need to keep up with.  With this in mind, you might want to compare fees rates before deciding.  It is important to remember that permanent fixtures such as wood floors and wallpaper tend to be more resilient and are therefore much more expensive.  This can seriously inflate the sale or lease price of the place as well as the fees for the upkeep of the building.
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  9. Enlist the Aid of an Experienced Real Estate Agent- Finding the right place to stay can be challenging for some people, especially those who have not been pet owners for long.  However, the process of finding just the right place to live in can be efficient and painless if you have access to a competent real estate agent who has all the best listings for this specific type of property.
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Pet friendly building have evolved over the past few years, as more buildings are designed to accommodate not only the needs of human residents but those of the four-legged kind as well.  It may take some time to find the right condo to buy, but it will certainly be worth the wait.

By Kelsey Uh

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Hurricane Sandy: New York City’s massive, massive real estate opportunity


US President Barack Obama’s 5 Commitments to New York City may bring the surge in International Relations of the import/export industry, the obvious positive effects on Minority Suppliers (MBE’s) across America, as well as the boom in the Real Estate industry. Specifically, the impact he has committed to delivering on real estate in New York City and Hurricane Sandy victims.

Hurricane Sandy was the largest Atlantic hurricane on record. The second most costly hurricane ever, only following Hurricane Katrina. Beginning only as a tropical wave on October, 22nd, then into Tropical Storm Sandy just a few hours later and swelling into Hurricane Sandy 2-days later.

Since the massive hurricane began barreling through Kingston, Jamaica, Cuba and ultimately reaching the United States; devastating many parts of New York City on October 29th, President Obama has been establishing definite points of action. On MSNBC News Station on October 30th, later released on the Huffing Post website, President Obama spoke to the Federal Government Emergency Management Agency in Washington, US President Barack Obama named New Jersey and Lower Manhattan as potentially needing –and receiving- the most intense aid, for some time to come. Though, the President pledges his support for the entire New York City area. In that same speech, the President goes further to call-out the Federal Government and their historical red-tap bureaucracy which often delivers too little, too late. (Witnessed throughout the world after Hurricane Katrina just 5-years ago.) The $1.8 Billion natural disaster, devastated New Orleans and its surrounding areas, left much of its real estate in ruin, but it also took a huge negative blow to for former US President George W. Bush.

President Obama responded prior to Hurricane Sandy with a very hands-on proactive approach, assuring the people of New York City that “we will be there.” Making his first post re-election trip, to New York City just days after the devastation.

In all, President Obama made dozens of commitments to re-build New York City: Here are 5 which we felt needed to be highlighted:

1. Rapid Response –New York Daily News, on November 01, 2012, featured coverage of President Barack Obama as he assured that government aid would be nearly immediate and that they would not be forgotten. In fact, many groups were seen well before the actual event had occurred. Restoring electricity, pumping flooded areas and tending to victims was at the top of his list.
2. Presidential Visit –Wednesday, November 14, 2012 marks the first postelection trip for President Obama: his visit to the devastation in New York City. Seen on the ground, amongst the victims, as well as relief centers.
3. No Red-Tape –Mark Felsenthal for RUETERS on November, 3rd reported good news to hear for victims of Hurricane Sandy. As government agencies were forced to tap gasoline reserves and were receiving aid from all over the country. Though ‘delivery’ of necessary supplies to victims, such as water, blankets, generators and food still faced subsequent red tape; the fact was that supplies were delivered to New York City. According to REUTERS, the President, again urged “…emergency response officials to cut through government “red tape” and work without delay to help areas ravaged by monster storm Sandy to return to normal as quickly as possible.”
4. No Bureaucracy –President Obama was seen taking calls on his cell phone from politicians and New York City officials from the moment he walked off victory stage. “There’s nothing more important than getting this right,” the president said at a briefing with officials from the Federal Emergency Management Administration, the Department of Homeland Security, and state and local governments.
5. New Jersey – Obama spoke by video conference with the governors of New York, New Jersey and Connecticut and municipal officials to discuss efforts to help the East Coast states, he also stated New Jersey specifically as an area that will require intense, long-term aid -as well as Manhattan

By Kelsey Uh

Google

How to Buy a Flat in NYC

Flats are divided by three ownership categories in NYC: condos (condominiums), co-ops (cooperatives) and condops. International buyers can not purchase cooperatives because co-ops require full financial disclosure including previous U.S tax return. For investment purposes, a condo is recommended because of higher appreciation potential and flexibility in renting. Condos are usually newer buildings and almost all of new construction is usually condos.

Step by Step Buying Procedures in NYC:

Condominium is not a new word to the real estate industry. But what is really a condominium? A condominium is one  option in real estate.  There is no way of informing the dissimilarity between a flat and a condominium.  Individual units are sold to the buyer rather than being rented. There are a lot of different types yet they are typically designed better than apartments. But how to buy a flat in NYC? There are few guidelines below that will help you if you are one of the thousands of people out there who are actually looking for a flat in NYC. Real estate is a wide industry and is interesting with new real estate asset exploding everywhere. With some recommendations you must also consider these tips on how to buy a flat in NYC. Doesn’t matter what’s your personal use, there are really things that one needs to always keep in mind throughout the exploration.

Looking for the right location

The very 1st aspect to think about is where the flat situated. You might want something that is close to your previous place or you might be going out of the area completely. Make sure that the location you select is not to far out of the way and that you can still get to where you need to go quickly. Stay away from locations that are in high-traffic areas. Also try to ensure that the location is an area of preference. This is the first thing to consider in buying a flat in NYC.

Budget wisely

Thinking wisely with your budget is also an important consideration in how to buy a condominium in NYC. Before going into the details of purchasing your desired condominium in NYC you must not forget to take into account the budget.  Condominiums cost money so you must only search the units that fits into your finances. Set up a price range in purchasing a condominium.

Parking space

If you have a car, parking is an important thing to consider. Parking on Premises rather than outside of the flat is a valuable asset. Even if you do not own a car, there might be times when you have guests and they will need a parking lot close by. This is a tip on how to buy a flat in NYC that would be beneficial to you and your visitors.

Garden or no garden

If you have animals or pets, a garden could be significant to you. In addition, if you plan on having a family you will need an area to run around and play outside. This will assist you on how to buy a flat in NYC. Some of the condo buildings in NYC even have swimming pools. But you should always keep in mind that keeping a garden could require the need of continuous servicing.

Neighbors

It is recommended to try to know who are your neighbors and who live nearby. Neighbors can make or break your stay in your flat. Often many owners find it necessary to relocate because of situations with their neighbors. This tip on how to buy a flat in NYC might be not that usual but certainly it would make you stay  more peaceful.

Searching for flats in NYC is such an exhilarating journey. This would be the start for you to find the best home to live in. it could also be the start for your new beginnings and a new surroundings. Do not rush on things! You have to consider the tips on how to buy a flat in NYC mentioned above. With these guidelines, you can find a flat in NYC with ease. Plan ahead!

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All information is from sources deemed reliable but is subject to errors, omissions, changes in price, prior sale or withdrawal without notice. No representation is made as to the accuracy of any description.

★ www.RealEstateSalesNYC.com

Top 5 Reasons Savvy Investors Love New York Real Estate


Central Park South Apartments for New York Real Estate InvestmentNew York’s location, population, metropolitan lifestyle, shopping, museums, diversity and events make it one of the most sought after real estate markets on the planet.

Historically, investors have fallen in love with the city due to its appreciation potential and welcoming purchasing laws for foreign nationals who seek to invest here. However, now as we reach the end of the real estate market lull, and prepare to enter into our next rise, investors are finding even more reasons to love real estate investment in New York.

1. Events –New York City is far from boring. The #1 attraction for people who are looking to buy -or rent- in the city is its multitude of events. From the Empire State Building Run Up Foot Race in February, the St. Patrick’s Day Parade in March, April’s Earth Day, The July 4th Celebration, Macy’s Thanksgiving Day Parade and of course, The New Year’s Eve Celebration in Time Square. When you buy or rent in NYC, you are buying into an exciting and ultra-diverse lifestyle.

2. Foreign Investment – New York City boast one of the country’s largest foreign investor communities. Foreign real estate investors are attracted to the city due to the value of their investments against the dollar in some cases. In addition, according to National Association of Realtors, many foreign nationals also enjoy the stable and secure real estate investment environment in the U.S.

3. Population – With over 8 million residents according to the Census, NYC is America’s most densely populated city, as well as one of the most diverse. Therefore, the New York real estate market is liquid and ever-expanding. Unlike most other markets which attract local buyers from one or two demographics, NYC attracts buyers –and renters- from all over the globe, from every economic background and lifestyle. This unique advantage, allows us to leverage the ‘global market’ rather than just our local market, which is a huge asset when the local economy may not be doing so well.

4. Expertise –Real estate experts in NYC are amongst the best in the world. From simple multi-lingual teams, and international reach, to well-connected brokers who can get your ‘deal’ in front of the most hard-to-reach people. The NYC market demands the best –and we deliver.

5. Value – Historical trends indicate a growth spurt in New York real estate somewhere around 2015. Just as in the past 34 years, New York City housing prices experienced two periods of rapid increase: 1980–1989 and 1996–2006. As well as two periods of decline: 1974–1980 and 1989–1996. Both booms were substantial, and both busts were relatively small. Prices increased by a mind-boggling 250% from 1974 to 2006 according to New York City Department of Finance, Furman Center. Indicating the approach of the next increase for investors who enter the market now, while entry is low.

The truth is, New York City real estate is affordable in the global marketplace. With property in New York City priced around $1,200 per sq. ft., according to AOL real estate published on Oct. 12th 2011, Paris at over $3,000 per sq. ft., London at over $1,600 per sq. ft., Singapore’s $1,500 per sq. ft., and Hong Kong somewhere around $1,000 per sq. ft., owning a piece of the ‘The Big Apple’ is becoming increasing more attractive.


TOP 5 Reasons Savvy Investors Love New York Real Estate by Kelsey Uh

Luxury Penthouse in NYC


Brownstone Penthouse for Sale in NYC Manhattan New YorkNew York is the most populated city in the United States of America and the major commercial, financial and cultural center of the United States. This center of the economy has placed many high net worth individuals looking for the best views and impressive layout, which has led to the top of residential buildings. These penthousesare typically differentiated from other apartments by luxury features. They boast the space, light, fresh air, the glorious sunsets to the west and most of all the sweeping views of the city, the park or the rivers.

A Luxury Penthouse in NYC provides impressive living in the sky. A full floor master suite has its own fireplace for those romantic evenings and cold winter nights. The living room in the penthouse offers a feeling of grandeur and the foyer that connects it to the inner masterpiece makes the interior design seem like a surprising art decoration with contemporary elegance.

Fifth Avenue Penthouse for Sale in NYC Manhattan New YorkOvercoming the issue of small space in regular apartments, penthouses are considered to be, in general, the most expensive with expansive views, large living spaces and top-of-the line amenities.

Manhattan is rich in luxury apartments and high-rise buildings. When looking for a Luxury Penthouse in NYC, there is a lot to consider—distance from work, your favorite restaurants and shops as well as whether or not all the amenities you expect in a luxury Penthouse.

Many luxury Penthouses in NYC are located in the heart of the city yet offer serenity far away from the noise and the crowd of urban life. Aside from regular condos and coop apartments, penthouses are known to be at the top of the market and are generally the most expensive with spectacular views, large outdoor spaces and top-of-the line finishes. Accordingly, they are often associated with an incomparable luxury lifestyle.



Luxury Penthouse in NYC by Kelsey Uh

★ www.RealEstateSalesNYC.com

High Price High Rewards: Manhattan Penthouse Market Report


The high demand for luxury living in Manhattan New York has been directed to homes on the top floor or floors of a building. High Net worth individuals are looking for unique penthouses that provide breathtaking panoramas views of the city that never sleeps.

Many penthouses for sale in NYC provide impressive indoor space scheme, landscaped outdoor space, cozy fire from the fireplace and the evenings with the sunset on the terrace.

The priciest penthouse in today’s Manhattan market is a $100,000,000 octagon-shaped condo in Midtown Manhattan. The 2nd priciest penthouse has an asking price of $95,000,000 and is located on Central Park South. The 3rd priciest Penthouse is priced at $60,000,000 and in the Upper East Side. The lowest priced penthouse is a studio coop at $299,000 in the Upper West Side.

Approximately 291 penthouses are available for sale in Manhattan New York. 20% of them are priced at over $10M and 6% of them have an asking price over $20M. Most penthouses over $20M have soaring ceiling heights, a huge outdoor space and most of all, stunning views.

Prices vary depending on the neighborhoods, the location, the view and the amenities. The current median price of NYC penthouses is approximately $7,200,000.

The penthouse share for a studio penthouse for sale is 3% and its median price is $520,000 and 1 Bedroom makes up 15% at median price of $1,364,000. 2 and 3 bedrooms are most common in NYC penthouses for sale at 27% and 28% at average price of 3,685,000 and $6,908,000. 4 bedroom penthouses are the third popular category for sale at 18% at $10,268,000. 6% of penthouses for sale have 5 bedrooms at $11,958,000 and 5% have over 6 bedrooms at $24,490,000 in Manhattan New York.

68% of all on market penthouses are condos, 3% condops and 29% coops.

On average, 64% of all available penthouses on the market in Manhattan New York have outdoor space. Approximately 75% of penthouses for sale in downtown Manhattan have outdoor space, which shows the highest rate, followed by Midtown West, Midtown East, Upper Manhattan and Upper East Side that are ranging from 65% to 70%.

Currently the highest median price is found in Central Park South at $30M. High priced Central Park South penthouses for sale boast sweeping views of Central Park. The next highest median prices are seen in Tribeca at $11M, SoHo $10.6M and Fifth Avenue at $9.6M, respectively.

The majority of the penthouses on the New York market are fully renovated with granite counter tops, marble baths and hardwood floors throughout.

NYC’s urban pressure is unusual; nevertheless, its luxury home market has much more to propose. Hence, luxury New York penthouse living not only offers the regular apartment advantages such as security and convenient location but also all those enhancements such as size, airy design, high-end appliances, finest materials, luxury floor plans and much more.

Live in the sky, live in your dream. NYC Penthouses offer high price and high rewards.

Manhattan Penthouse Market Report by Kelsey Uh


Upper East Side Penthouse Market Report
Upper West Side Penthouse Market Report
Midtown West Penthouse Market Report
Midtown East Penthouse Market Report
Midtown South Penthouse Market Report
Gramercy Park Penthouse Market Report
Chelsea Penthouse Market Report
Greenwich Village Penthouse Market Report
West Village Penthouse Market Report
East Village Penthouse Market Report
Lower East Side Penthouse Market Report
SoHo Penthouse Market Report
Tribeca Penthouse Market Report
Battery Park City Penthouse Market Report
Financial District Penthouse Market Report
Upper Manhattan Penthouse Market Report


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Popular Types of Mortgage Loan Programs

Mortgage loan programs: there are a few options. It will help you to understand these home loan programs. Before securing a mortgage loan, you should consider the types and understand how they work.

 

  • Fixed-Rate Mortgage Types

This is the granddaddy of them all. Now you can choose from 10-year, 15-year, 20-year, 30-year, 40-year and even 50-year fixed-rate house home mortgages, all of which are completely amortized.

  • FHA Loans

FHA house mortgages are covered by the government through home mortgage insurance that is borrowed against the property mortgage. First-time property customers are perfect candidates for an FHA house mortgage because the down payment requirements are low and the FICO scores do not matter.

  • VA Loans

This type of government house mortgage is available to individuals who have served in the U.S. Armed Services and, in certain situations, relatives. The requirements change with regards to the length of service and type of discharge. The main benefit to a VA mortgage is the buyer does not need a down payment. Your property mortgage is guaranteed by the Government but borrowed by a traditional financial institution.

  • Thinking about Mortgage?Interest-Only Mortgage Types

Calling a home mortgage an “interest-only mortgage” is a bit incorrect because these loans are not really interest only. Interest-only loans contain an option to make an interest-only payment or interest and principal. The option is available only for a limited period of time.

Now you are provided with the ideas on what types of mortgages are available. Now you can choose which may work best for you.

All information is from sources deemed reliable but is subject to errors, omissions, changes in price, prior sale or withdrawal without notice. No representation is made as to the accuracy of any description.

★ www.RealEstateSalesNYC.com

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