Buying New Condo in Manhattan, Tips for the Foreign Buyer

Buying new condos in Manhattan is a strategy that many of our foreign clients pursue.  The objectives are either for rental return or for use as vacation home.   By the time a foreign investor client reaches out to me, he would have researched extensively online and have a strong understanding of the Manhattan market.

In addition, the client would have read a lot of my articles on the subject of investing in Manhattan condos.  Still, there are many questions.  Understandably, buying a condo in a different country is a major undertaking.

Here are some tips for foreign investors:

Read article:  Buying New Condo in Manhattan

Manhattan luxury freehold condo close to MRT, $1.83 million

Manhattan freehold condo with high rental return and close to MRT, United Nations, Citigroup Center, Blackstone, Blackrock headquarters.

Property:  959 First Avenue, Apt 23E, New York, NY 10022 (Condominium)

Price:  $1,830,000

Common charges:  $1,400

Property taxes:  $160

Rental return:  At rent of $6,000 per month, rental return of 2.9 percent based on asking price.  This is very high by Manhattan standards.

Size:  907 square feet

Learn more:  Manhattan freehold condo close to MRT, $1.83 million

Foreigners buying Manhattan property, the questions that matter

Here are the top 8 questions foreign clients ask when thinking about buying property in Manhattan.

#1:  Can a foreigner buy property in New York?

#2:  What type of property can a foreigner buy in New York?

Read the full article:  

Foreigner Buying Property in New York, 8 Questions That Matter

Best Condos in Manhattan, New York

Which is the best condo building in Manhattan?  The answer depends on the purpose of the client.  For example, buying to rent out has different criteria vs buying as vacation home or buying merely to park money.  

This article talks about several condos and why they are "the best" in their respective categories.

Read article:  Best Condos in Manhattan

The art of picking new property projects in Manhattan

Buyers are constantly overwhelmed with ads for new property projects, whether here in the US or even abroad.  With so many projects and corresponding beautiful photos, I can imagine how overwhelmed a buyer would be. 

Investing in new property projects is one of our focus niches when representing buyer clients from all over the world. 

We pick projects with good appreciation potential.  Client books the property and wait two years for completion.  The advantage is the price discount given to buyers who buy pre-construction (before the building is built).

Factors we look at include demand for the type of property, wow factor and competition from other buildings. 

Check out the full article I wrote about How We Pick New Property Projects In Manhattan. 

Best areas to invest in Manhattan

Article I wrote about one of the most popular questions clients ask, "Whats the best area to invest in Manhattan?"  

There is no one best area, it's all about evaluating the upsides and downsides relative to your objectives.

This article gives examples of some of the most popular neighborhoods and their respective upsides/downsides.

Read article:  Best areas to invest in Manhattan

Foreign Buyer Guide 2018 Update

A few years ago, I wrote Foreign Buyer Guide To Investing In New York Property, which gained a lot of exposure, was widely shared, and resulted in a lot of media interviews.  

As an update, I just wrote Foreign Buyer Guide To New York Property 2018, which covers how  technology has impacted the buying process and the Trump tax law changes.  Hope you find it useful.


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