Articles by Wei Min Tan on investing in Manhattan, New York property
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.
Investing in New York residential condominiums
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Legal and tax tips from a New York lawyer and CPA
Interview with Tim Wong on legal and tax concerns with New York property, including capital gains, estate and gift taxes, structuring a property holding.
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International investors in Manhattan apartments, 3 crucial tips
Weimin Tan, Manhattan property agent, says an international investor should get solid local advice, a good lawyer and a dependable bank.
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Sponsor condos in Manhattan, Art of The Deal
Sponsor condos are condos sold by the developer, mostly brand new development. Identifying the right buy and negotiating the deal is an art.
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Benefits and Downside Risks of Buying Manhattan Property
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.
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Best Condos in Manhattan
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.
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New property projects in Manhattan, how we pick winners
Picking winning new property projects includes evaluating demand for the project’s offering, price segment, wow factor and location of the project.
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Best Manhattan Property Agents
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.
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Asian American New York Property Agent
Wei Min Tan is a Manhattan property agent often interviewed by top media such as CNN, New York Times, Wall Street Journal and NBC.
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Investing in a Soho apartment, key tips to understand
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?
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Risks with buying new launch condo property project in Manhattan
Wei Min Tan, Manhattan property agent, describes the top downside risks when buying into a new launch condo project in Manhattan.
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New York property buying opportunity amid COVID 19 pandemic
Weimin Tan, Manhattan property broker and investor, predicts buying opportunity in Manhattan property between Q2 to Q4 amid the COVID pandemic.
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New vs Resale condo in Manhattan, New York
New condo buyers can book at a discount and enjoy better facilities. Resale condos provide more options, building history and sellers are more negotiable.
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Manhattan property investment performance
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.
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Manhattan Property Price Trend 1997 - 2020
New York property historical price trends for Condominiums and Cooperatives
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New York Property Capital Gains And Other Taxes
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.
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Manhattan property investing strategies
Weimin Tan explains New York property investing strategies including buying into a full service building, ultra luxury and pre-construction.
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Why Successful Business Owners and Professionals Globally Invest in New York Property
Reasons why successful entrepreneurs and professionals from around the world invest in Manhattan apartments.
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Why Invest In New York, A Global Comparison
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.
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New York Super Prime Areas
Many of our foreign clients coming to buy investment property in New York are interested in the most prime and expensive areas of Manhattan.
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Investing in new development projects
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.
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Best Areas to Invest in Manhattan
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.
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Foreign Buyer Guide, Investing in New York Property
Overview for the foreign investor, the buying process, managing and selling the property.
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Top 5 Challenges Of Buying Property Abroad
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.
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Foreigner buying property in New York, 8 questions that matter
Most important questions for a foreigner buying property in Manhattan, New York. Includes property type, sizes and prices, rental yield, structuring.
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Buying property in New York to rent out
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.
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Property investment in New York
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.
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Time to buy Manhattan property according to CNN, CNBC, WSJ
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.
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Investing in Brooklyn property
Investing in Brooklyn property is a strategy investors take to benefit from the better price value compared to Manhattan.
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How investing in New York's next hottest area provided handsome returns to our clients
Property investing in Manhattan, New York’s next hottest area has provided handsome returns to our clients. A case study.
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Rules for foreigners buying New York property
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.
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How to invest in Manhattan property, profit and repeat
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.
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Top mistakes when investing in New York property
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.
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Investing in a New York ultra luxury apartment
The objective of buying in ultra luxury buildings is usually to park funds and ride appreciation. Rental income is a low priority.
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Investing in a full-service, high demand building
When the investment objective is rental income, a full service, high demand building is important. Full service means amenities such as building staff…
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Best type of investment property in New York
The best type of investment property in Manhattan, New York for under $3 million is a residential condominium, which clients buy for asset diversification.
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Renovating Manhattan pre-war apartment
Advised our client in investing in this pre-war condo at Manhattan’s Parc Vendome. Renovation transformed the apartment which rented out almost immediately.
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Investing in a loft apartment in New York
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.
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How to Invest in Manhattan Property
Overview on how to invest in Manhattan property, the world’s top destination for investors looking for stability and asset diversification.
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Manhattan Property Review
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.
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Alternative Investments (private equity, real estate funds) vs Manhattan Condos
Comparing private equity and real estate funds, illiquid investments known as Alternative Investments, to investing in Manhattan residential condominiums.
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Buying New Condo in Manhattan, Tips for the Foreigner
Tips for foreigner interested in buying a new Manhattan condo. Includes rental return, freehold vs leasehold, CBD and location drivers.
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New York condominium broker focusing on investors
Explanation on being a New York residential condominium broker focusing on investor buyers. Condos are a sub segment of the New York property market.
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Buying New York Residential Property - Expectations
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.
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Investing In A Pre-War Manhattan Condo Apartment
A pre-war Manhattan condominium is a high desirable investment because of its scarcity, character, high ceilings and thicker walls.
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Pros and Cons of New Property Launches in Manhattan
Buying into new condominium launches in Manhattan means price discount and visiting a beautiful sales office, but uncertatinties abound too.
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Tribeca's newest luxury residential project
We represented our client in purchasing this 750 square foot studio at 111 Murray, Tribeca’s latest luxury residential tower.
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Buying property in New York, 5 key tips
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.
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New York property with amazing water views
New York penthouse level property with amazing water views of New York Harbor. Long term investment buy.
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Two bedroom at super luxury One57 is a relative value 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.
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Foreign Buyer Guide to Investing in New York Property 2018 Update
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.
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Luxury apartment under $1 million
88 Greenwich #2605 is a luxury condominium under $1 million with top end finishings and one block south of the World Trade Center.
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One bedroom investment property in Tribeca
200 Chambers 5F is an excellent investment property in Tribeca with strong rental yield and located opposite Goldman Sachs’ headquarters.
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Our Focus: Buyer's Broker For Manhattan Condominiums
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.
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Buying New York Property Frequently Asked Questions
– How does real estate create wealth?
– Appreciation over time?
– Investing directly vs REITs -
Foreign and International Buyer Guide
– Overview for the foreign investor
– The buying process
– Managing and selling the property -
Reasons Buying Overseas Property From A Property Show Is A Bad Idea
Buyers of property in top markets like New York, London, Paris, Sydney come from all over the world. As people get more financially savvy and outlook becomes more global
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New York apartment investment performance and returns
Comparatives of the 2014 investment performance of Manhattan, New York condominium apartments with performance of the Dow Jones, Nasdaq, Gold and FTSE 100 indices.
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YouTube Channel: New York Property Agent
Follow the life of Wei Min Tan, a condominium specialist focusing on local and foreign buyers interested in Manhattan, New York real estate.
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Research Links
Manhattan, New York Property Research Resources and National Level Research Information
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Overview of featured condominiums
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.
Market Updates
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How recessions impact Manhattan property
Looks at how prior Lehman and Sept 11 recessions impacted Manhattan property and what to expect from this coronavirus recession.
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COVID-19 in Manhattan, current situation
Q2 expectations: GDP down 34% according to Goldman, Manhattan closed sales expected down 60%+. Opportunistic time for buyers, hard time for sellers.
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Coronavirus impact on Manhattan property
The Manhattan property market is at a standstill because of the coronavirus. Historic low rates, sellers holding back, buying opportunity for investors.
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Is now a good time to invest in Manhattan property?
Analysis of the current Manhattan property market and whether it is a good time to be a buyer.
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Manhattan Condominium Historical Price Trend
Manhattan residential condominium historical price trend from 1999 to present.
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New York Apartment Prices Q1, 2020
Manhattan, New York Property Report for residential condominiums with summary for average price, price per square foot, sales volume.
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25 percent of new luxury apartments are unsold in Manhattan
Summary of New York Times’ article about the oversupply of unsold new luxury apartments in Manhattan. Situation being compared to the post Lehman period.
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Manhattan property market's 2018 performance
Median price of a Manhattan apartment decreased to less than $1 million as sales volume plummet 14 percent.
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Weakness continues for Manhattan property in Q3, 2018
Manhattan’s property market experienced an 11 percent decrease in sales activity in third quarter 2018 despite a strong economy and consumer confidence.
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Manhattan Q2 Condo Market
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.
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Manhattan property's weak first quarter 2018
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
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Trump's tax law increases homeownership cost for primary residence buyers
The new Trump tax law reduces allowable mortgage interest deduction and places a limit on state and local taxes that are deductible.
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Manhattan condo prices down 15% in Q4 2017
The Manhattan, New York residential condo market showed further weakness in Q4, 2017 as buyers anticipated the proposed Trump tax bill.
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New York condominium prices Q4, 2017
New York residential condominium prices declined in Q4’2017 amid market weakness and uncertainty
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Investment picks as New York property rides the Trump wave
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.
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Buying opportunities as sales drop 20 percent
It’s now official. Consistent with my previous updates about now Manhattan being a buyer’s market…
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Manhattan Condos, Now 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
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Brexit's impact on New York property
Two weeks since Brexit and global markets continue to adjust to this new uncertainty. The pound sterling declined to a 30 year low.
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New York condo apartments outperform in 2015
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.
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5 Things To Know About Today's New York Apartment Market
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.
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New York Apartment Prices 3Q 2013
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.
The Buying and Selling Process
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Best New York Property Agents
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.
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How to Buy New Launch Property in Manhattan
Overview of why investors buy new launch property in Manhattan, the discount that new launch condominiums provide and how to start the process.
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Engaging a property agent in Manhattan
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.
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Stamp Duty When Buying New York Property
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…
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Managing Investment Property In New York
Once our foreign investor client purchases an investment apartment through us, we also manage the property for the client. This includes marketing the property…
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Mortgage Financing For Overseas Buyers
Foreign buyers investing in New York property have the option of getting mortgage financing, which comes as a fixed rate or adjustable rate loan.
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Transaction Costs for Condominiums
Transaction costs when buying and selling a Manhattan, New York condominium for buyer and seller.
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Buying new condominium property in Manhattan
Strategy for evaluating and buying new condominium property in Manhattan, New York. Analysis of upsides/downsides and appreciation potential.
Lifestyle
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Food in Manhattan
Here are my favorite, regular restaurants in Manhattan and why I like them.
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Facebook and Amazon expanding in Manhattan
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.
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Curing eyesight naturally through habits
Weimin Tan writes about trying to cure eyesight (myopia/ short sightedness) naturally. Implementing good habits: more outdoor time, reducing screen time.
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Manhattan's best high end buffet is Brazilian steakhouse, Fogo de Chao
Brazilian steakhouse Fogo de Chao is the best high end buffet experience in Manhattan. Huge salad bar, quality meats, and it’s unlimited!
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Manhattan's Tribeca
Tribeca is one of Manhattan, New York’s most expensive and desirable neighborhoods. It is located north of the future World Trade Center.
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What I learned from Church Street Boxing, the toughest gym in Tribeca
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.
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New York remains safest big city in America
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.
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Google will transform Hudson Square
Google’s $1 billion investment into its Hudson Square campus is bound to transform the neighborhood as luxury condo owners and Googlers move in.
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Jeffrey Tan playing Chopin's Fantaisie Impromptu
Chopin’s Fantaisie Impromptu played by 12 year old Jeffrey Tan, second place winner, at the New York City Rondo piano competition 2018.
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Rawsome Treats
Raw vegan pies without refined sugar to satisfy sweet cravings the healthy way.
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New York's Manhattan Chinatown
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.
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Battery Park, trees and water
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.
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Financial District
Financial District in Manhattan is the home of Wall Street, The New York Stock Exchange and the Federal Reserve Bank of New York.
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Flatiron District
Flatiron is a desirable destination in Manhattan because of restaurants, the Union Square farmers market, Union Square and Madison Square Park.
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West Village
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.
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Soho
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.
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Midtown East, blue chip neighborhood
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.
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Upper East Side
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.
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My favorite Japanese restaurants
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.
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Manhattan Neighborhoods
Learn everything there is to know about the neighborhoods of Manhattan
Case Studies
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Investing in Manhattan condo with tenant in place for immediate cashflow
Weimin Tan, Manhattan investment property broker, on potential risks with buying a condo with tenant in place. And why due diligence is important.
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New launch Manhattan condo, being the earlybird
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
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Manhattan value buy freehold condo
Manhattan value buy freehold condo with water views close to World Trade Center. Ideal for investor wanting tenant in place and no vacancy period.
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Foreign investor client's new condo in Gramercy
Case study of our investor client’s recently closed new condo. We will be listing apartment for rent soon. Located in Gramercy.
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Manhattan freehold condo with attractive rental returns
Luxury one bedroom freehold condo, $1.83m, with attractive rental return in Manhattan’s CBD. Close to United Nations, MRT stations.
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Terrace demands a premium, one bedroom at 99 John
Strategy of investing in one bedroom Manhattan apartment with 500 sqft terrace. Purchased from developer at conversion and resold 5 years later.
