Investing in large 3 bedroom apartment to rent out in Manhattan New York
Posted by Wei Min Tan on August 4, 2021
We guided our investor client in investing in a large 3 bedroom apartment in Manhattan, New York. This in anticipation of the rental market’s demand for larger apartments post Covid pandemic.
Why we purchased the investment condo
Purchase decision driven by market’s post pandemic demand for larger apartments. People want more space after working from home for more than a year.
Triple exposure creates wow factor. Apartment features vast open views because it looks out to West Side Highway and Battery Park Ballfield (quality windows make this apartment very quiet). This type of view is rare in Manhattan where the typical view is staring at another building.
Apartment not too high hence looks at many tree tops, providing a calming effect. Good feng shui element.
Negotiated best price per sqft within the building in recent years as result of pandemic.
About the apartment
Property: 200 Chambers Street #9A, New York, NY 10007
Neighborhood: Tribeca
Rent: $15,000 per month
Size: 2,201 sqft, 3 bedrooms, 3 baths
This triple-exposure apartment has open views, looking out at the Battery Park ballfield and at plenty of trees. Recently renovated with upgraded lighting, cabinetry, kitchen appliances. Kitchen features appliances from Subzero, Miele, Bosch and a center island.
200 Chambers is a full service luxury building with concierge, roofdeck, swimming pool, fitness center, residents’ lounge, zen garden. Close to Washington Market Park, Greenwich Street Farmers’ Market, Equinox, Westfield Mall, Brookfield Place, Soulcycle.
The apartment has been on the market for rent 3 days as of this writing and we already have several interested tenants.
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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