Expenses when buying real estate in Manhattan

Wei Min Tan with Aidan Booth on The Growth Booth on the expenses when buying real estate in Manhattan

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210 Warren Street, #7G, New York, NY 10282

Brand new split 2BR/2BA facing East and South in the Robert A.M. Stern-designed Tribeca Green.

Apartment features Hardwood Floors, windowsills highlighted with Turkish Cristallo stone slabs, Smart Thermostats, Dining Area, Washer/Dryer. The kitchen comes with Marble countertops, Oak cabinetry and Miele appliances. Non-toxic/low VOC finishes used throughout.

Property Address: 210 Warren Street #7G, New York, NY 10282
Rent: $9,200

View the listing here: 210 Warren Street, #7G, New York, NY 10282

Buying townhouse/landed property in Manhattan, New York

Landed property in Manhattan, New York refers to buying a townhouse. A townhouse is where the owner owns the whole building, which is usually 3 to 5 storeys. Townhouses in Manhattan share walls with the neighboring townhouses.

Read the advantages and disadvantages of owning a townhouse in Manhattan here: Buying townhouse/landed property in Manhattan, New York

Transaction Costs: Manhattan Condominium

For buyers, these costs generally equate to about 6 percent of the loan amount for financed purchases and roughly 2 percent of the price for cash transactions. Conversely, sellers encounter transaction costs of approximately 8 percent of the property's price, and the local equivalent to stamp duty is composed of government taxes like mansion tax and transfer taxes.

Read the full article here: Transaction Costs: Manhattan Condominium

How to Buy New Launch Property in Manhattan

Investors can secure a unit by visiting a sales office and putting down 15 to 20 percent of the purchase price, with the balance due at closing in approximately 2 years when the property is ready to be occupied, offering them discounted prices at the early stage.

Read the full article here: How to Buy New Launch Property in Manhattan