We have OFF MARKET, ON MARKET, Commercial, Residential, Business and New Construction Buildings for sale in Manhattan NY. We provide Buyers, Sellers and Investors with the tools needed for the real estate industry, which includes brokerage, consulting, market studies and financing. We have networks and experience throughout the building industry. Whether you are looking to buy a high rise, medium or small building or a unique construction for your individual needs, we are here to assist you. Call Direct at 646-262-2233 or
The Right Building Investment
Deciding to buy a property investment in New York is such a significant step that it needs to be done with utmost consideration to potential returns as well as financial security. The first step to make is finding just the right property to buy, which involves knowing all the facts about acquisition as well as the current trends in the real estate market.
There are basically two types of property investment from which you can choose:
1. Direct property investment – This option allows high, medium rise or small property owners to obtain income in two forms, one of which is through rent collected from tenants. As most people are aware of, there is no shortage of people in New York who are looking for a place to lease since the city is densely populated. The second form of prospective income is obtained by renovating the existing property and selling it for a considerable profit margin. The latter option offers better financial rewards, but it needs to be executed perfectly, and at precisely the right time. Knowing when to sell is key to obtaining high profits from the investment.
2. Indirect property investment/Property Fund – This type of investment is considered safer and less financially taxing mainly because it involves pooling resources from more than one investor. The investment is in the form of a property fund, which is to be managed for the purpose of reaping dividends in the form of rent.
Direct Versus Indirect Property Investment
Property Investment Funds are largely regarded as the better choice of the two, since it entails less work on the part of investors. All the financial as well as management aspects of the investment will be handled by a qualified professional (i.e. property managers, and lawyers), while you sit back and wait for revenue to be remitted on a regular basis. Conversely, investing in a buy-to-let property means having to constantly deal with tenants as well as tenancy issues, and building up-keep. Those who have little or no experience in small, medium or high rise property management are cautioned against buy-to-let investments.
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Excellent Investor Relations
The secret to achieving success in Property Fund Investment lies in having an excellent relationship with all existing investors. With this in mind, it might be a good idea to employ a good PR firm to handle all matters relating to communication in order to keep investors informed and up to speed.
The goal is to keep investors feeling happy as well as secure, as this ensures sustainable growth and stability of the property fund. Keeping investors apprised on all things relevant to the property fund would also keep any and all transactions smooth, as in the case of property for sale and/or new tenancy.
A good PR firm handles investor relations in such a manner that the flow of information is smooth and without any delays. Communication channels are kept open and updated, so that all parties are informed promptly of any and all developments.
Full disclosure is very important, especially if there are matters that need to be addressed such as building renovation, changes in rental rates, the prospect of selling one or more properties, and any fluctuations in yearly revenue.
As business finance expert Tom Taulli form UCLA would put it, “the worse mistake entrepreneurs make is not communicating with their investors properly”. The success of small, medium or high rise property investment fund is largely dependent on the level of confidence of investors have on the people managing their assets.
Real Estate Sales NYC has Experienced Real Estate Agents Who Specialize in Building Sales in New York. We have ON Market and OFF Market Deals. Contact Our Specialists about All ON Market, OFF market, Manhattan Development and New Construction Deals Today.
Things You Need To Know Before Buying a Building in New York
The New York real estate market is a friendly market both for the locals as well as the international buyers. Not only is New York the most populated city of the United States but it’s also one of the most lucrative market. More recently Manhattan has emerged as one of the best real estate markets because of its ability to attract investors from all over the world.
If you are thinking of buying a Commercial, Residential or Business property in New York, you ought to go through certain essential things. Here is an explanation of the things that you need to know before buying a building in New York:
First Step: Arrange the finances
Prior to buying a building of any kind, you have to arrange for the finances, if it is not an all cash deal. This requires that you to meet with mortgage brokers or bankers and obtain pre-approval for a mortgage. Obtaining a pre-approval is beneficiary for you as it improves your chances of closing a deal in the real estate market. It also marks a spending limit for you, giving you better negotiating power. In General, lenders will want 25%-30% down payment, however, this percentage can go higher with the specific type of property: commercial/residential building or commercial business. Foreign buyers need to open an account with any of the US bank to transfer the funds. Alternatively, they can transfer the funds into an escrow account held by their US attorney. Buyers also need to keep in mind that there are expenses associated with purchasing property for sale in NYC. These costs include NYC real property transfer tax, seller’s attorney fee, New York State transfer tax, title ownership, fees and other miscellaneous charges, etc.
Step Two: Find a building specialist
Once the financial arrangements are complete, you need to find a broker specialist who can find you the most appropriate property for sale. Building specialists are the best people who can arrange the most appropriate deals. They have the knowledge and expertise of the market and can get you a deal that suits your unique needs. They will help you to determine the size (high rise, medium rise or small in scale) or the type (commercial or residential or business building) for all your unique expectations.
Moreover, utilizing the help of a specialist does away with the hassles of finding properties for sale, lawyers, bankers, preparation of documents and other procedures. They provide the latest and updated information about the market and work in the best interest of their clients. You can finally sit back and relax while your broker gets the perfect deal for you.
Step Three: Research
As is the case with any product, a buyer must research the product thoroughly before buying and it applies to buying property in New York as well. You must conduct a thorough study of the real estate market of New York and know about the trend of the market. You must have a clear knowledge of what type of buildings are available in New York, their location, prices and size. While these factors are important to research, the one thing that must be clear in your mind is the type (commercial or residential or business building) and size (high, medium rise or small) of the property you are interested in and your budget prior to buying.
There are several types of buildings in New York City and these include commercial, residential, business, mixed use, office and hospitality buildings, etc.
While your research is based on the type of building you are interested in, you must know the prevailing prices before buying. The price depend upon factors like condition, location, size and height, lot dimensions, taxes, monthly expenses, cash flow, energy efficiency and the vacancy, etc.
Step Four: Locate Property, Due Diligence and Execute Contract
After identifying the best property for your unique wants and needs, your building specialist will put in the offer and negotiate in your best interest. After having your offer accepted by the seller, the inspection of the property will be scheduled before the contract is signed. The Buyer’s representative will check environmental factors, code compliance, physical condition and title, as well as work with your attorney and execute contract. With the signed contract, you can now apply for the mortgage. After getting commitment letter from your loaner, set a closing date and own the title of the real property.
Commercial Real Estate News
Permits Climb as Developers Up Their Bets
On May 5, 2012, the Wall Street Journal reported that Manhattan is starting to shake “Its construction doldrums,” as result of the country’s economic crisis, after seeing a 169% spike in new building permits in the first four months of 2012 as compared with the same time period in 2011.
|Source: Wall Street Journal – May 5, 2012|
DOB Unveils New Construction Safety Program
On April 24, 2012, the Brooklyn Daily Eagle reported that the Department unveiled a new program at its 2012 Build Safe/Live Safe conference to increase safety, 3D Site Safety Plans. The new program will allow Department inspectors to take a virtual, step-by-step tour of how a new building or major renovation will be constructed, visualize its complexities and challenges and review critical safety measures. The Real Deal also picked up the story.
|Source: The Brooklyn Daily Eagle – April 24, 2012|
NYC Sees Biggest Building Permit Rise Since Crash
On March 6, 2012, Crain’s New York Business reported that construction permits were up 14% in the first two months of 2012 from the same time period last year and demolition permits, a sign of developments coming down the pipeline, were up 36.7% during the same time frame. The Real Deal and the Huffington Post also picked up the story.
|Source: Crain’s New York Business – March 6, 2012|
Simplifying the Signage
On February 6, 2012, the Wall Street Journal wrote about the Department’s new Construction Information Panel Pilot Program, which encourages contractors and owners to consolidate permit postings and contractor signage into one informational panel, making it easier for New Yorkers to learn about an ongoing construction project.
|Source: Wall Street Journal – February 6, 2012|
LIST OF RECENTLY SOLD BUILDINGS IN MANHATTAN NEW YORK
|Address||Name||Neighborhood||Type||Building Size||Floors||Built in:||Most Recent Sale Date & Price|
|-||386 Park Avenue South, New York NY 10016||386 Park Avenue South||Midtown South||Commercial Office||46 ft x 150 ft||20 Stories||1927||9/28/2012 Sale Price $111,500,000|
|-||790 Seventh Ave New York NY 10019||Sheraton City Squire Hotel||Midtown||Hotel||196 ft x 163 ft.||22 Stories||1962||10/2/2012 Sale Price $235,100,000|
|-||635 Sixth Ave, New York NY 10011||Apex Technical School||Chelsea||School||64 ft x 153 ft.||8 Stories||1902||9/28/2012 Sale Price $45,000,000|
|-||86 Trinity Pl, New York Ny 10006||American Stock Exchange||Financial District||Commercial Office||125 ft x 182 ft||16 Stories||1921||2/16/2011 Sale Price $17,000,000|
|-||425 Third Ave, New York NY 10016||425 Third Ave||Murray Hill||Residential||74 ft x 110 ft||9 Stories||1967||9/25/2012 Sale Price $44,000,000|
|-||509 Fifth Ave, New York NY 10017||509 Fifth Ave||Midtown||Office||38 ft x 117 ft||12 Stories||1917||9/6/2012 Sale Price $23,070,100|
|-||100 Vandam St, New York NY 10013||100 Vandam St||SoHo||Residential Condominium||64.17 ft x 100 ft||6 Stories||1910||9/14/2012 Sale Price $27,500,000|
|-||541 West 37th Street New York NY 10010||541 West 37th Street||Clinton||Warehouse||50 ft x 94 ft||3 Stories||1920||9/28/2012 Sale Price $26,500,000|
|-||494 Broadway, New York NY 10018||494 Broadway||SoHo||Commercial Business||24 ft x 100 ft||4 Stories||1900||9/7/2012 Sale Price $22,000,000|
|-||125 Maiden Ln, New York NY 10038||Water Street Plaza||Financial District||Commercial Business||81 ft x 246 ft||17 Stories||1960||Source: the New York Observer Nov. 2012 Issue Sale Price $61,500,000|
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.