Manhattan Real Estate Agent: Manhattan Real Estate: Direct Ownership vs. REIT

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Monday, February 22, 2010

Manhattan Real Estate: Direct Ownership vs. REIT?

Article as published in Thestreet.com Feb 22, 2010. Manhattan Property: Direct Ownership vs REITs

Here are some pros and cons to weigh if you're thinking about direct property ownership in Manhattan, such as buying an investment condo or building vs. investing in a real estate investment trust such as Boston Properties(BXP Quote), SL Green Realty(SLG Quote) or Vornado Realty Trust(VNO Quote) that own commercial properties in the area.

No. 1, Liquidity: REIT wins. REITs are liquid and can be bought or sold with the click of a mouse. That's not the case with direct ownership in a condo or building because it takes at least three months to buy or sell.

No. 2, Entry level: REIT wins

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Website: https://www.castle-avenue.com/

Email: tan@castle-avenue.com

Wei Min Tan is a Manhattan, New York property broker focusing on global clients. He has been interviewed on Manhattan property by top media such as CNBC, CNN, The Wall Street Journal and New York Times.

Prior to real estate, Wei Min was a banker at Citigroup. He is originally from Malaysia and speaks Bahasa Malaysia, Cantonese, Mandarin and Hokkien. He graduated with an MBA from the University of Illinois and a BA from Marshall University. Wei Min is a member of the Real Estate Board of New York (REBNY) and the International Real Estate Federation (FIABCI).