Wei Min Tan, long time Manhattan resident and property investor, writes about almost everything investment related,
specifically to those wanting to buy residential condominiums as investment.
The benefits, risks, expectations and even lifestyle.
Wei Min Tan, long time Manhattan resident and property investor, writes about almost everything investment related, specifically to those wanting to buy residential condominiums as investment.
The benefits, risks, expectations and even lifestyle.
New York property historical price trends for Condominiums and Cooperatives
Investors from all over the world have always been buying Manhattan property as a means of diversification. London and New York used to compete for foreign investment.
The 16-acre World Trade Center site has been the hottest upcoming development and the pinnacle of Downtown’s revitalization in New York for the past decade.
Our clients, who are successful business owners or corporate executives from around the world, invest in Manhattan, New York property for diversification and long term stable asset growth.
The core of the Manhattan, New York residential condominium market for investment purposes lies in the $1 million to $4 million price point.
Successful entrepreneurs and professionals from around the world have been investing in Manhattan apartments for a long time.
We are residential condominium specialists and we only represent residential condominium transactions. This makes us experts in this category.
In New York real estate, agents are required to disclose whose interest the agent represents. A buyer’s broker represents the best interest of the buyer. A seller’s broker represents the best interest of the seller.
– How does real estate create wealth?
– Appreciation over time?
– Investing directly vs REITs
– Overview for the foreign investor
– The buying process
– Managing and selling the property
Bravo for taking the step towards investigating the property buying process. Here is a summary of key points to understand when buying property in New York.
Here is a summary of the major tax categories when buying property in New York. Besides capital gains, there is also monthly property tax, income tax and estate (inheritance) tax.
Buyers of property in top markets like New York, London, Paris, Sydney come from all over the world. As people get more financially savvy and outlook becomes more global
Many of our foreign clients coming to buy investment property in New York are interested in the most prime areas of Manhattan, also known as New York, New York
Owning a loft apartment in New York is having one of the ultimate New York assets. While residential condominiums continue to be built, a true loft apartment is scarce.
In this global market, investors looking to diversify their portfolio often venture abroad for their property investment.
Wei Min Tan is a Manhattan property agent often interviewed by top media such as CNN, New York Times, Wall Street Journal and NBC.
New York’s position as a top global city has always attracted property investors both local and foreign. To local New Yorkers, they believe in New York while to foreigners, New York is recognized as a safe haven for asset diversification.
Comparatives of the 2014 investment performance of Manhattan, New York condominium apartments with performance of the Dow Jones, Nasdaq, Gold and FTSE 100 indices.
Manhattan, New York is the most expensive, land-locked and high demand city in the United States.
Learn everything there is to know about the neighborhoods of Manhattan
Follow the life of Wei Min Tan, a condominium specialist focusing on local and foreign buyers interested in Manhattan, New York real estate.
Manhattan, New York Property Research Resources and National Level Research Information
Search All New York Properties Access the Manhattan, New York broker database to view all properties available on the market. View detailed property descriptions, floor plans and photos from one central source.
Whenever I meet a new buyer client, especially a foreigner wanting to buy an apartment in Manhattan for rental income, the client often has certain pre-conceived ideas.
When the investment objective is rental income, a full service, high demand building is important. Full service means amenities such as building staff…
The objective of buying in ultra luxury buildings is usually to park funds and ride appreciation. Rental income is a low priority.
Investing in pre-construction refers to buying based on plans and renderings, before a property has been completed. Often developers start selling 1-2 years in advance of anticipated completion date.
The new Trump tax law reduces allowable mortgage interest deduction and places a limit on state and local taxes that are deductible.
The Manhattan, New York residential condo market showed further weakness in Q4, 2017 as buyers anticipated the proposed Trump tax bill.
New York residential condominium prices declined in Q4’2017 amid market weakness and uncertainty
While the last 2 quarters of 2016 saw buyers sitting on the fence and sales volume down, since Trump’s historic win, there has been an increase in sales with Manhattan condos.
It’s now official. Consistent with my previous updates about now Manhattan being a buyer’s market…
The Manhattan property market has changed direction. While previously it was a heated, highly competitive market where buyers compete for limited inventory, now listings are sitting on the market longer and buyers have an advantage
Two weeks since Brexit and global markets continue to adjust to this new uncertainty. The pound sterling declined to a 30 year low.
Global investors who have already invested in a Manhattan, New York condominium have reason to be cheerful. In 2015, Manhattan condo apartments far outperformed major global indices.
The Manhattan, New York property market makes the news often because it’s the U.S.’s most expensive and the media just can’t resist talking about apartments costing upwards of $50 million.
Manhattan, New York apartment sales surged dramatically in the third quarter of 2013, driven by rising interest rates and buyers grabbing a shortage of inventory.
Key points on the Q2 Manhattan condo market: Days on market increased, reflecting the slower market…
Transaction Costs: Manhattan Condominium. For The Buyer (in order to significance, estimated).
Once our foreign investor client purchases an investment apartment through us, we also manage the property for the client. This includes marketing the property…
Stamp duty is a British term and is not a term used in New York property transactions. Here in the United States, we use the term Closing Costs…
Many of our overseas clients buying property in New York pay in cash. This is either because of personal preference, better negotiation leverage or because they have a cheaper source…
In Manhattan, Battery Park is the neighborhood with the most trees and parks, which gives it a nice, nature-like feeling. With the Hudson River right next to it, Battery Park is a scenic and beautiful neighborhood.
As a New York property agent, bringing clients to nice restaurants is part of the job which I enjoy a lot. This has given me the opportunity to try a lot of restaurants in New York.
Wei Min Tan is a property broker focusing on Manhattan, New York luxury condominiums and foreign buyers. He is often interviewed by the media including CNN, The New York Times and The Wall Street Journal on the subject of foreign buyers of Manhattan property.