Strategy of investing in distinguished prewar condos
Posted by Wei Min Tan on October 15, 2021
Wei Min Tan shares his strategy of investing in distinguished prewar condos.
299 West 12th Street #5F
299 West 12th Street is a distinguished prewar condo in West Village. Given the location and building’s brand name, we paid a premium. Our client’s apartment got rented out in one day at above asking price! When prices are high, we select the right apartment so that the rental return is also high.
5F is a tree-line apartment, which means that you can see trees through the window. It looks out South and has a great view of the sky. The living room is sunken, a nice feature. It has a fireplace and high, beamed ceilings. The bedroom looks out to the World Trade Center. These are features that we look for when we help our investor clients select the right investment.
299 W 12 St #5F (below)
28 East 10th Street #4A
28 East 10th Street, Devonshire House, is a distinguished prewar condo in Greenwich Village. Our client’s apartment got rented in two days. We had multiple applications, and we had the luxury of selecting the most qualified tenant. The kitchen here is totally renovated, it has all the high end appliances. It also has a dining area, which is rare.
The key point is to select the right apartment in a high demand building. When prices are high, the rents should be higher relative to the norm, so we’re looking at rental return.
The above are examples of our strategy of investing in distinguished prewar condos.
28 E 10 St #4A (below)
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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