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.
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.
The objective of buying in ultra luxury buildings is usually to park funds and ride appreciation. Rental income is a low priority.
Buying overseas property from an international property show is usually a bad idea. It’s convenient, but generally these are properties that are not selling well in their home country.
The best area to invest depends on a buyer’s objectives. FiDi has oversupply but good deals, West Village is a constant seller’s market and prices are high.
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.
Investing in a penthouse and its benefits and downsides. Pressing the PH button also means your elevator ride is always local.
Property investment in New York, specifically in Manhattan, is a prudent decision taken by successful individuals as part of their portfolio planning. Investing in New York property is seen as a safe haven for assets because of limited supply.
Investing in Tribeca real estate. Why it’s a blue chip strategy, why the high demand, examples of clients’ condos.
Investing in West Village real estate is a great strategy for investors looking for the most secure property prices in Manhattan, New York.
Overview on how to invest in Manhattan property, the world’s top destination for investors looking for stability and asset diversification.
Buying into new condominium launches in Manhattan means price discount and visiting a beautiful sales office, but uncertatinties abound too.
A pre-war Manhattan condominium is a high desirable investment because of its scarcity, character, high ceilings and thicker walls.
Manhattan has a population of 1.6 million living in individually-owned apartments, multifamily and mixed use buildings. This Manhattan property review looks at the pros and cons of each type from an investor’s perspective.
Most important questions for a foreigner buying property in Manhattan, New York. Includes property type, sizes and prices, rental yield, structuring.
Overview for the foreign investor, the buying process, managing and selling the property.
New York property historical price trends for Condominiums and Cooperatives
Manhattan property investment performance from 1999 to Q1′ 2020 shows that price per square foot increased from $480 to $1,923 during the 20 year period.
Interview with Tim Wong on legal and tax concerns with New York property, including capital gains, estate and gift taxes, structuring a property holding.
Weimin Tan, Manhattan property agent, says an international investor should get solid local advice, a good lawyer and a dependable bank.
Sponsor condos are condos sold by the developer, mostly brand new development. Identifying the right buy and negotiating the deal is an art.
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 “best” criteria differs depending on whether a client is buying to rent out, use as vacation home or simply to park money in an ultra luxury building.
Picking winning new property projects includes evaluating demand for the project’s offering, price segment, wow factor and location of the project.
Wei Min Tan focuses on foreign investors buying Manhattan, New York property for investment. He is among the best Manhattan property agents in this category and has appeared on CNBC, CNN, Wall Street Journal and New York Times.
Wei Min Tan is a Manhattan property agent often interviewed by top media such as CNN, New York Times, Wall Street Journal and NBC.
A Soho apartment has gorgeous high ceilings and big spaces, but do you know they lack facilities and many are zoned for Artist In Residence?
Wei Min Tan, Manhattan property agent, describes the top downside risks when buying into a new launch condo project in Manhattan.
Weimin Tan, Manhattan property broker and investor, predicts buying opportunity in Manhattan property between Q2 to Q4 amid the COVID pandemic.
New condo buyers can book at a discount and enjoy better facilities. Resale condos provide more options, building history and sellers are more negotiable.
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.
Weimin Tan explains New York property investing strategies including buying into a full service building, ultra luxury and pre-construction.
Reasons why successful entrepreneurs and professionals from around the world invest in Manhattan apartments.
New York (Manhattan) is ranked the top city in the world by various metrics but from a price perspective compared to top cities, it’s a relative bargain.
Many of our foreign clients coming to buy investment property in New York are interested in the most prime and expensive areas of Manhattan.
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.
In this global market, investors looking to diversify their portfolio often venture abroad for their property investment. Article talks about the key challenges when buying property abroad.
Buying property in New York (Manhattan) to rent out is an investment diversification strategy for many global investors. These are 5 key points to consider.
Now is the right time to buy a Manhattan condo. Inventory is high, prices are negotiable and mortgage rates are so low. It’s not just me who is saying it.
Investing in Brooklyn property is a strategy investors take to benefit from the better price value compared to Manhattan.
Property investing in Manhattan, New York’s next hottest area has provided handsome returns to our clients. A case study.
Key rules for foreigners buying Manhattan, New York property. The is no extra stamp duty, but foreigners should be aware of FIRPTA withholding and estate tax.
Manhattan, New York is the world’s investment property mecca. This article focuses on how one can invest in Manhattan residential condominium property, realize profits and repeat to grow a portfolio over time.
When the investment objective is rental income, a full service, high demand building is important. Full service means amenities such as building staff…
The best type of investment property in Manhattan, New York for under $3 million is a residential condominium, which clients buy for asset diversification.
Advised our client in investing in this pre-war condo at Manhattan’s Parc Vendome. Renovation transformed the apartment which rented out almost immediately.
Comparing private equity and real estate funds, illiquid investments known as Alternative Investments, to investing in Manhattan residential condominiums.
Tips for foreigner interested in buying a new Manhattan condo. Includes rental return, freehold vs leasehold, CBD and location drivers.
Explanation on being a New York residential condominium broker focusing on investor buyers. Condos are a sub segment of the New York property market.
Bravo for taking the step towards investigating the property buying process. Here is a summary of key points for a foreigner to understand when buying property in New York.
We represented our client in purchasing this 750 square foot studio at 111 Murray, Tribeca’s latest luxury residential tower.
Buying property in New York is a goal for global investors wanting a piece of the world’s most desirable real estate. These 5 guiding tips is a start.
New York penthouse level property with amazing water views of New York Harbor. Long term investment buy.
Apt 32B at One57 is asking $6.5 million, or $3,030 per sqft. A relative value buy in the context of super luxury buildings. Can be rented to top level executives or the high net worth tenant who is not ready to buy yet.
New York property agent Wei Min Tan on updates a foreign buyer needs to know when investing in New York property, covering New York’s status as Alpha++ city, rental yield, appreciation and the Trump tax law.
88 Greenwich #2605 is a luxury condominium under $1 million with top end finishings and one block south of the World Trade Center.
200 Chambers 5F is an excellent investment property in Tribeca with strong rental yield and located opposite Goldman Sachs’ headquarters.
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
Comparatives of the 2014 investment performance of Manhattan, New York condominium apartments with performance of the Dow Jones, Nasdaq, Gold and FTSE 100 indices.
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.
Manhattan, New York Property Report for residential condominiums with summary for average price, price per square foot, sales volume.
Manhattan residential condominium historical price trend from 1999 to present.
Analysis of the current Manhattan property market and whether it is a good time to be a buyer.
After 15 weeks of lock down, Manhattan real estate reopended June 22. Listings for sale increasing, although still much lower than normal.
Looks at how prior Lehman and Sept 11 recessions impacted Manhattan property and what to expect from this coronavirus recession.
Q2 expectations: GDP down 34% according to Goldman, Manhattan closed sales expected down 60%+. Opportunistic time for buyers, hard time for sellers.
The Manhattan property market is at a standstill because of the coronavirus. Historic low rates, sellers holding back, buying opportunity for investors.
Summary of New York Times’ article about the oversupply of unsold new luxury apartments in Manhattan. Situation being compared to the post Lehman period.
Median price of a Manhattan apartment decreased to less than $1 million as sales volume plummet 14 percent.
Manhattan’s property market experienced an 11 percent decrease in sales activity in third quarter 2018 despite a strong economy and consumer confidence.
Analysis of the Manhattan Q2 condo market. While metrics are worse than a year ago, they are improving compared to Q1, perhaps a turning point.
Manhattan property sales volume in first quarter 2018 was the lowest in six years, driven by changes in the new tax law, ending of legacy new development contracts and higher mortgage rates
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.
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…
Transaction costs when buying and selling a Manhattan, New York condominium for buyer and seller.
Strategy for evaluating and buying new condominium property in Manhattan, New York. Analysis of upsides/downsides and appreciation potential.
Foreign buyers investing in New York property have the option of getting mortgage financing, which comes as a fixed rate or adjustable rate loan.
Weimin Tan, New York property broker and investor, summarizes the 5 steps to buying property in New York. A deal is not binding until contract signed!
Wei Min Tan is among the best New York property agents focusing on investor buyers of Manhattan, New York condominiums. Wei Min has appeared on CNBC, CNN, The Wall Street Journal on the subject of investing in New York property.
Overview of why investors buy new launch property in Manhattan, the discount that new launch condominiums provide and how to start the process.
Engaging a property agent in New York requires understanding the role of a buyer’s vs seller’s agent, interviewing and selecting based on fit.
Once our foreign investor client purchases an investment apartment through us, we also manage the property for the client. This includes marketing the property…
Interview with Aidan Booth, online entrepreneur and property investor. How he started with investing, lessons learned, the ultimate goal.
We stumbled upon Darling Moon Flowers / Cafe Atelier, a unique florist/coffee shop in Tribeca. The decor, service and quality are excellent!
Jeffrey Tan on his 1st year at Stuyvesant High School. Brutal tests, extracurricular clubs abound, SING!, another test after basketball win.
Interview with Demmi Choo, West Village resident, on what is so attractive about West Village. It feels like a suburb during the day!
What happened to Florence, Italy after the Bubonic Plague, and to Philadelphia after Yellow Fever which decimated the city. Great historical lessons.
Tribeca fitness trainer Lee McConnell, NASM, Church Street Boxing Gym, on how COVID and online fitness training changed his profession.
Here are my favorite, regular restaurants in Manhattan and why I like them.
Facebook in talks to increase space by 700,000 square feet in Manhattan, making it one of NYC’s largest corporate tenants. Amazon signed lease for 335,000 square feet in Hudson Yards.
Weimin Tan writes about trying to cure eyesight (myopia/ short sightedness) naturally. Implementing good habits: more outdoor time, reducing screen time.
Brazilian steakhouse Fogo de Chao is the best high end buffet experience in Manhattan. Huge salad bar, quality meats, and it’s unlimited!
Tribeca is one of Manhattan, New York’s most expensive and desirable neighborhoods. It is located north of the future World Trade Center.
Church Street, the toughest gym in Tribeca. I came here seeking abs and learned key lessons that greatly helped with life and real estate deals.
New York continues to be the safest big city in America with crime continuing a 28 year decline. The murder rate is just above 3 per 100,000.
Google’s $1 billion investment into its Hudson Square campus is bound to transform the neighborhood as luxury condo owners and Googlers move in.
Chopin’s Fantaisie Impromptu played by 12 year old Jeffrey Tan, second place winner, at the New York City Rondo piano competition 2018.
Raw vegan pies without refined sugar to satisfy sweet cravings the healthy way.
New York property broker Wei Min Tan gives an overview of the Manhattan Chinatown neighborhood, the second most visited neighborhood in New York City after Times Square.
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.
Financial District in Manhattan is the home of Wall Street, The New York Stock Exchange and the Federal Reserve Bank of New York.
Flatiron is a desirable destination in Manhattan because of restaurants, the Union Square farmers market, Union Square and Madison Square Park.
West Village in Manhattan, New York is a charming village full of personality and character. Maybe that’s why many celebrities call West Village home.
Soho used to be an industrial area which became popular with artists. As more artists moved into the neighborhood, Soho transformed into a residential work-live area with many artist studios and galleries.
Manhattan, New York’s Midtown East has some of the largest concentration of Fortune 500 offices, high real estate and fanciest retail shops in the world.
Manhattan’s Upper East Side neighborhood is well known for museums along Museum Mile on Fifth Avenue, ultra expensive cooperatives on Park and Fifth Avenues and tree-lined residential streets.
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.
Learn everything there is to know about the neighborhoods of Manhattan
Strategy of investing in one bedroom Manhattan apartment with 500 sqft terrace. Purchased from developer at conversion and resold 5 years later.
Loft apartment with terrace in Manhattan’s Financial District. Prewar Art Deco building, close to World Trade Center. Strong rental yield for investor buyers.
The suburbs have become a seller’s market amid surge of demand from NYC buyers. Sellers are asking 20 to 30 percent premium.
Weimin Tan, Manhattan investment property broker, on potential risks with buying a condo with tenant in place. And why due diligence is important.
Being the earlybird on a Manhattan new launch condo project usually means getting the best pricing. Case study of our client’s buy at a Tribeca project
Manhattan value buy freehold condo with water views close to World Trade Center. Ideal for investor wanting tenant in place and no vacancy period.
Case study of our investor client’s recently closed new condo. We will be listing apartment for rent soon. Located in Gramercy.
Luxury one bedroom freehold condo, $1.83m, with attractive rental return in Manhattan’s CBD. Close to United Nations, MRT stations.
Investor client’s high floor one bedroom condo facing north and west, with amazing views of West Village and amid tree-lined streets.
Investor client’s Midtown East condo in new development building close to Fifth Avenue, United Nations, Grand Central, Metro North.
Close to World Trade Center, South Street Seaport, Fulton Station, American Express, Goldman Sachs. Luxury prewar condo with full amenities.
One bedroom with 16ft ceilings in luxury prewar condo. Close to World Trade Center, Goldman Sachs, American Express, Wall Street.
Prewar studio apartment close to Central Park, Whole Foods, Equinox. Recently renovated. Charming, southern exposure, plenty of light. .
For rent: Luxury studio with water views in full service building. Close to World Trade Center, WEstfield Mall, Brookfield Place.
Financial District loft studio in luxury building for rent. Close to World Trade Center, Westfield Mall, Goldman Sachs, Federal Reserve.
Fifth Avenue, South Facing studio on 30th floor with plenty of Sunlight and Closets (one regular and one walk-in). Midtown Manhattan, close to Bryant Park.
Tribeca luxury condo for rent. Split 2 Bedroom facing West (Park and Water views), Floor-to-Ceiling Windows, Luxury Kitchen, Full Service Building.