How to select the right investment condo in Manhattan for letting out
Posted by Wei Min Tan on May 20, 2021
Weimin Tan provides a case study on how to select the right investment condo in Manhattan, New York.
Selecting the right Manhattan condo for letting out
The rental market suffered a lot as a result of Covid – prices were down 25 percent, inventory was up 3x and vacancy rate was up 5x.
Investing in Manhattan property has been challenging because of that but we still managed to let out an investor client’s condo in one week. To be able to do that, here are the three key attributes that we evaluate when choosing a good property investment for clients – the location, the building and the apartment within the building.
Location – convenient, central, close to multiple subway lines and very close to a lot of restaurants and entertainment.
The building – prewar, a lot of charm in the feel and architecture, high ceilings, thicker walls and less noise.
The apartment within the building – multiple exposures, great views.
What We Do
We focus on global investors buying Manhattan condos for portfolio diversification and long term return-on-investment.
1) Identify the right buy based on objectives
2) Manage the buy process
3) Rent out the property
4) Manage tenants
5) Market the property at the eventual sale
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