Investing in a luxury freehold New York apartment
Posted by Wei Min Tan on May 13, 2025
This is a brief case study on our client’s one bedroom corner apartment that is close to the World Trade Center. We rented it out in 1 week the first time several years ago (after the purchase). Recently, when the tenants informed about moving out, we also rented it out immediately.
Property: 88 Greenwich Street #1315, New York, NY 10006
Neighborhood: Financial District
Purchase price: $965,000
Current Rent: $4,995 per month
Size: 754 sqft, 1 bedroom, 1 bath
Unique feature: Dual exposures with lots of light and great views
Drivers of buy decision: Close to World Trade Center, Whole Foods expected to open at time of purchase, luxury level but at lower price than neighboring luxury condos
The unique feature about Apartment 1315 is the Dual Exposures (South and East) with views of New York Harbor, the Verrazano Bridge and Hudson River. This is a great wow factor which tenants notice immediately.
Windowed Kitchen! The apartment features Hardwood Floors, Large Windows and high end kitchen appliances from Subzero, Viking, Fisher Paykel.
88 Greenwich is a full service luxury building with amenities including a 24th Floor Residents’ Lounge and Outdoor Roof Deck, Library, Billiards Room, Fitness Center, Valet, Office Corner. Steps to the 1/R/4/5 subway trains.
Video slideshow of the condo
Contact: tan@castle-avenue.com
Read about Wei Min’s style in Best Manhattan property agents and Role of a buyer’s broker.
Apartment Photos
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
Article updated May 13, 2025
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