Manhattan Luxury Condos for Sale
Posted by Wei Min Tan on December 12, 2022
Manhattan, New York luxury condos for sale are all accessible through websites such as Streeteasy.com. Luxury condos are generally defined as $2,500 per sqft and above, while $4,000 and above is considered ultra luxury.
Condos are at a 50 to 70 percent premium over Co-ops. This is because with a Condo, you own property title as opposed to shares in the building in the case of a Co-op. With Condos, there is flexibility in renting out and the board cannot reject a sale without reason (which is the case for a Co-op).
Weimin’s article, Condo vs Co-op in Manhattan.
Most of our global clients invest in luxury condos when the objective is renting out. While price is higher than non-luxury property, the rents commanded by luxury condos are higher as well. The bottom line is that the rental return for luxury condos is higher than with non-luxury.
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