Dorchester Tower NYC-155 West 68th Street NY NY 10023

155 West 68th Street-Dorchester Towers Condo is close to Lincoln Center, Central Park, Riverside Park, Supermarkets (Trader Joe, Food Emporium, Fairway, Zabar, just to name a few). This building has a 24 hour doorman and concierge, separate package room, management on site, roof deck and multiple floors of laundry rooms.

This spacious alcove studio in Dorchester Towers condo has MINT RENOVATION of both bathroom and kitchen, walk in closet and storage space, and a generous sleeping alcove space. It is Western facing with plenty of natural sunlight.  Call 646 644 6929 to see this.

Manhattan NY Condo FAQ: Can I renovate my Manhattan NY Condo?

Manhattan NY Condo FAQ: Can I renovate my Manhattan NY Condo?

The quick answer is Yes.  You can certainly renovate your Manhattan New York Condo. The long answer is that it’s not going to be as easy as you may think and certainly going to cost more than what you could do in a more suburban environment.

Now that you are a condo owner, you have to live within the by-laws the building has adopted.  One of those by-laws concerning a renovation is that any person you hire to come in and do work must be licensed, bonded and insured.Because work you are performing to your Condo could possibly effect another condo, the contractor you use has to be authorized by the building to perform the work.

Another large factor involved is that any work to the condo apartment typically has be be authorized by the building management and condo board.  If you are renovating your bathroom or remodeling the kitchen where the plumber will be tapping into the building’s plumbing systems before you do any of the work, you will submit an alterations agreement to the building to make sure the work you are doing isn’t going to negatively effect other apartments.

This process of getting your renovation authorized by the building can take some time, especially if you need permits from the city of New York.

If you are remodeling your house the worker’s can start very early in the morning and stay late into the evening if you want them to.  Not in a Manhattan condo building. There will be building work hours, typically between 9-5pm, Monday through Friday. The limited hours will add to the amount of time it takes to finish a project.

Don’t be surprised if the cost to do what you may think is a simple renovation is more expensive than what you expected.  The labor costs here are much higher than anywhere else.The key aspect to renovate big or small your Manhattan apartment is to work with an experienced general contractor who has a lot of experience working in Manhattan apartment buildings.  Who understand how to process the paperwork, who knows how long and how much a renovation is going to cost.  We work with a number of different contractors who have such experience depending on the type of project you want to undertake.

Because renovations are not as easy as you’d think, that is why there is such a premium price for fully renovated turn key apartments in the city.  Completely unrenovated ore estate condition apartments typically sell at a discount because renovating them is not as easy as you’d think.  If you are looking for an apartment to renovate be prepared to undertake the project or hand it off to an experienced contractor.

Dorchester Towers Condo-155 West 68th Street NY NY 10023

Dorchester Towers located at 155 West 68th Street New York NY 10023 is located in one of the most prime Upper West Side Condos locations. Just blocks to Lincoln Center, Dorchester Towers is one of the longest established Upper West Side Condo buildings.

This Upper West side condo was built in 1965 originally as a rental building when the Upper West Side was still an up and coming neighborhood. Dorchester Towers at 155 West 68th Street is now in one of the most desirable and convenient Upper West Side locations. Converted in the late 1980’s into a condominium building Dorchester Towers Condos is a full service doorman building. Dorchester Towers has a roof top deck, laundry on every floor, bike room, on-site management, and circular driveway.

Dorchester Towers has some of the most attractively priced Upper West Side Condos Sales and Rentals available. Whether you are looking for a Upper West side One bedroom condo or two bedroom condo for sale, Dorchester tower condo may be the the building for you.

At Dorchester Towers, Dorchester Towers is one of the most desirable Upper West Side Condos buildings. If you are looking to purchase a Lincoln Square Condo contact us at (917)837-8869 or (646)644-6929 today.

Manhattan NY Condos FAQ: How long does it take to close on a Manhattan NY Condo?

We are Chinese-Mandarin speaking agents, and we specialize in Manhattan New York condo market and well verse in all neighborhoods of Manhattan New York.  These frequent asked questions will help educate buyers the buying process and the Manhattan New York Market. As experienced Manhattan condo Real Estate agents, we compiled many other Manhattan NY Condos Frequent Asked Questions you can read here: (http://manhattannycondosforsale.com/tag/manhattan-ny-condos-faq/).

One of the frequent questions we receive is “How long does it take to close on a Manhattan NY Condo?”

***To be specific, this question pertains to Condominium sales in Manhattan, NOT co-op sales.  The closing process for a co-op is very different than a condominium sales.***

How quickly you can close on your Manhattan NY Condominium purchase depends on a couple of different things.

  • Is it a New Construction condo or Resale Manhattan New York condo?
  • Are you buying it ALL CASH or FINANCING?

What kind of building you are purchasing in?

If you are buying a new construction condominium that has their certificate of occupancy and is completed enough that you can move in, then you could probably close within a couple of weeks once the contracts are signed, if you are paying cash for the property.  There is no condo application to submit or condo board waiver needed.  Your closing will depend on how quickly the attorneys can schedule the closing.

If you are buying a resale condominium all cash, then you will have to submit a condominium purchase application, a credit check will be completed, and the condominium board typically has a first right of refusal for the apartment and they must issue a waiver for you to be able to schedule a closing for the apartment.  So in this case the closing depends on how quickly you can submit the application (here is blog post we wrote about condo sales applications).  Often sales applications require some financial documentation, maybe reference letters, documents to be notarized, etc.  The longer it takes for the application to be submitted the longer it takes you to close on the Manhattan NY Condo.  Once the application is submitted the first thing the management company usually does are the credit and background checks.  Each management company works at a different pace, often they will say they have 5-7 business days, to complete the checks, which in reality can turn into 2 weeks.  Then they give the board the application.  Each building is different, but each building will have a certain amount of time they are allowed to review the application, often 3-4 weeks. The board might not take the full 3-4 weeks, sometimes they might issue the waiver in a week, but sometimes it could be the full amount of time.  Once the board issues the waiver for you to purchase then a closing can be scheduled. All in, you are probably looking at approximately 30 days-60 days once the contracts are signed until you can move into the apartment in a resale condominium.

How are you purchasing the Manhattan NY Condo? (All Cash vs. Financing)

An all cash purchase is always the fastest way to close on a Manhattan New York. This means you have all the funds for closing in the bank account, and/or the funds are in an account that can be wired/transfer to a New York bank account to issue the check.

If you are financing the purchase that is probably going to double the amount of time it can take compared to the cash option.  One of the big realities of getting financing for a Manhattan NY condominium in today’s lending environment is that the bank will not only be qualifying you as a borrower but they will also be looking at the building if they want to do a loan in the building.  The qualification of the building is going to be different for every bank.  One bank might be okay with doing a loan in the particular condo building and another may not, even though the banks are using the same information about the building to determine their desire to give you a loan for that building.

Qualifying the Manhattan Condo building is a process that will add time to the closing.  We have seen certain banks able to qualify the building and the buyer, do the appraisal, issue the commitment letter and have underwriting give a clear to close in 45 days from the time of contract signing, but we have also experienced when it takes more than 5 months for the bank to finally give the clear to close.

What also adds time to the closing when you are financing is that in a re-sale condominium building, the purchase application will often require the purchaser to submit the committment letter from the bank within the application.  As we have already discussed, once the application is in the hands of the board in can easily take 30 days to get the board’s approval.  Once the board issues the waiver that the buyer can purchase, then the bank will have the underwriters look at the buyer’s information again before they issue a clear to close.

As you can probably easily see, the process can become arduous and consuming very quickly because there are so many integral steps that have to be done one at a time when financing your purchase.

Conclusion:

Every buyer’s situation will be different and there is no one step by step map for every purchase.  Depending on what you are buying, how you are buying (all cash vs financing), and the building you are purchasing in will determine the approximate amount of time it will take to close.

If you want to know more about what to expect for your OWN situation, contact us today and we will talk to you about how long it will take for you to close on your Manhattan NY condominium.

Other Must Read Useful blog articles:

Checklist for Manhattan New York Condo Buyers

We are Manhattan New York Condo specialists, we work with many out of town first time investors and buyers that would like to acquire a Manhattan New York condo as part of their investment portfolio.

We often have a check list of basic steps to educate the buyers as to how to get started. Here is a good check list:

  • Consult with a reputable lender or mortgage consultant to see how much can you finance in today’s market. In today’s market, lending guidelines are changing by the day, it is in your best interest to see what will it take to qualify for a loan.
  • Do speak to your banker if you have money in bonds and money market. Find out how many days will it take to liquidate your funds so you know once we have a verbally accepted offer. Often in Manhattan New York market place, the seller seeks 10% of the sales price as downpayment at the time of signing contract. With that being said, if you are buying $1M Manhattan condo, you will need $100,000. at contract signing.
  • Do your homework on finding an Real Estate agent to work with. What is it that you are looking to buy? You want to find an agent that is familiar with the product that you are interest in buying. We are very well versed in Manhattan New York market, we have sold many Manhattan New York condos to first time home buyer, first time investors, foreign internationals, parents buying for children and many serious and motivated buyers. A Condo or Co-Op? Uptown or Downtown? Do you speak specific language that you preferred the agent speaks your mother tongue? Do you need an agent that work specifically with foreigners? Go on a search engine such as Google, try type in what you are looking for, and see if any agent shows up on the search result.
  • Do Have a realistic budget of what you are looking for. Manhattan New York condo is approximately $1,000 per square foot, so unless you are looking for a 500 SF one bedroom, you will need more than $500K to buy a one bedroom condo. (the price will also depend on the building amenities, such as fitness center, residents lounge, roof deck, basketball court, swimming pools and etc.)
  • Do speak to an accountant to see if you need to structure the purchase in a specific way to enjoy the tax deductible benefits of buying a Manhattan Real Estate. If you are a first time home buyer, is it beneficial to co-purchase the condo unit with your parents or alone; If you are an foreigner, is it better to buy it under your own name or start an LLC?; If you are an out of town investor, is this purchase going to be an investment property or?
  • Do have a Manhattan New York Real Estate attorney ready. Manhattan Real Estate transaction requires each buyer and seller to have an attorney representing them in drafting and finalizing the contract. A good attorney can save you headachs, money and risks, ask your agent to refer you (3) attorneys so you can call and interview. Explain to the attorney what you are planning to do, and see which attorney you feel most comfortable to work with.

If you would like to find out more information or learn about more Manhattan New York investment opportunities, please contact me today.  Email us today (http://manhattannycondosforsale.com/contact/) call (646)644-6929.

Manhattan New York condo buyers frequent asked questions:

Chinese Speaking Real Estate Agent – Eileen Hsu

Eileen Hsu, Chinese Speaking Real Estate agent in Manhattan New York. Eileen (許小姐) is Chinese and English speaking Real Estate agent in Manhattan New York. Eileen is also a Vice President 副總 of prestigious Manhattan Real Estate firm Prudential Douglas Elliman. Eileen and her team is Ranked in the Top 2% of Sales Professionals & Teams in the United States Prudential Real Estate Network. Eileen has a team that service both sellers and buyers of Manhattan New York market.

TriBeCa-Manhattan New York

Tribeca was one of the first Manhattan neighborhood’s named after the area that it is located in.

The Triangle Below Canal Street is located between the Hudson River and Lafayette Street and running approximately from North of Battery Park City up to Canal Street it’s northern border.   The neighborhood was historically known for it’s light manufacturing and warehousing businesses.

Much like Soho, it’s very well known and desirable because these former industrial buildings were converted into residential apartments, most notably the loft apartments.  Behind the facade of these historical buildings are tremendous voluminous spaces with great ceiling heights, over sized windows and typically luxuriously appointed.  The unique nature of these lofts creates an open and airy feel that has been and will continue to be in high demand.   Desired not for just it’s architecture but Tribeca has a wealth of neighborhood amenities.  Popular shopping, restaurants, cafes are found throughout the area.

New condominium development such as One York, 200 Chambers, 101 Warren, Pearline Soap Factory, among others have been a draw for this neighborhood. With it’s general proximity to many other downtown neighborhoods along with the individual characteristics have made the neighborhood a very popular Manhattan residential neighborhood.

Other Fantastic Manhattan Neighborhoods:

Manhattan NY Condos FAQ: Who can fix my condo if something breaks in my Manhattan NY condo?

We are Manhattan New York condo specialists, often we are asked by our buyers of series of questions that are regards to the unique Manhattan New York condo markets. We will be answering these frequent asked questions and hope to help other buyers who are interested in buying or investing in Manhattan New York condominiums.

Working with many Manhattan New York condo buyers who are from out of town who are more familiar with single family house, we are often asked “Who can fix my condo if something breaks in my Manhattan NY condo?. Many of our buyers purchase their Manhattan New York condo as second home, investment or for their son/daughter who goes to school or works in Manhattan New York. Maintaining the condo in good shape is on top of their list. (photo courtesy of http://www.life.com/image/98450283)

Owning a Manhattan New York condominium is different than owning your own single family house. When you own a Manhattan New York condo, you are an owner of a special community. This community often consist of other condo owner residents, building staff (doorman, porters, handyman and superintendent) and building management. When and if something breaks in the property, you can contact either the building management or superintendent to have a look to see if they can help you fix it. Depending on what the repair will be, if it is minor, the building handyman should be able to help you resolve the issue. Issues such as declog the drain, toilet, faucet, to proper running of hot/cold water, heat and cold air. These are items that the building maintenance staff can help you with, if the building staff can not fix the issue, they usually can and will recommend another specialist (plumber, electrician and etc) that will repair or look after the issue.

The condominium community with a maintenance team and support system is most ideal for buyers who has a busy lifestyle or out of town buyers/investors. With a phone call, or email to the management or the condo maintenance department, your toilet or heat can be fix before you get home from work. This is one of the huge benefit in buying in Condominium community.

EMAIL US TODAY for your own questions: http://manhattannycondosforsale.com/contact/

If you or someone you know would like to buy or sell Manhattan New York condominiums, please call us directly today at  (646) 644- 6929. We specialize in Manhattan New York condominium market and have experiences selling Manhattan New York condos in different neighborhoods, we offer confidential consultation customize to your specific investment needs.

Manhattan NY Condos FAQ: What is Common Charge in Manhattan New York Condominium Market?

Manhattan NY Condos FAQ: What is Common Charge in Manhattan New York Condominium Market?

Common Charge often is abbreviated as “CC” in many of Manhattan New York property listings. Common charge is also known as Home Owner Association Dues in other parts of the country in United States.

In Manhattan New York condominium market, each owner of the condo unit are responsible for the monthly Common Charge. Depending on each condo buildings policies and rules, these common charges usually includes the salary of the building staff, operational expenses of the condo common space such as hallway, elevator, lobby, amenities(if any), each units water, gas usage, cool and hot air (although this may vary depending on the building).

In the scenario of a Manhattan cooperative(Co-Op), there will be a “Maintenance charge” instead of “common charge”. Please note that there is a difference between Maintenance charge and common charge due to the differences of cooperative and condominiums. “maintenance charge” usually is a total sum of the monthly cost of that particular cooperative unit, which includes the allocated shared building carrying cost, real estate taxes of the cooperative unit, underlying mortgage of the cooperative and etc. Manhattan New York condominiums common charge does not include any Real Estate taxes or underlying building mortgage.

Common Charge usually is billed by the condo management on the monthly basis. If the owners preferred, they can make an arrangement with the condo management to pre-paid the common charge if the owner is not Manhattan local based or will be traveling for a period of time.

If the owner of condominiums uses this Manhattan NY condo as an investment or rental property, then the owner of the condo is responsible to pay for the monthly common charge not the tenant. It is also advisable that the owner stay in charge paying the common charge instead of the perspective tenants, otherwise in case of the default of common charge by the perspective tenant, the owner may be liable for additional penalty cost or other serious consequences enforced by the condo management.

If you or someone you know would like to buy or sell Manhattan New York condominiums, please call us directly today at (917) 837- 8869 or (646) 644- 6929. We specialize in Manhattan New York condominium market and have experiences selling Manhattan New York condos in different neighborhoods, we offer confidential consultation customize to your specific investment needs.

100 West 39th Street-Bryant Park Tower

BRYANT PARK TOWER located at 100 West 39th Street: DOUBLE PARK VIEWS from this CORNER 38th Floor Condo unit. It is Overlooking Empire State building with dramatic Manhattan Skyline views.

Bryant Park Tower (100 West 39th Street) has 43-story, mixed-use, it is located on the west blockfront on the Avenue of the Americas between 38th and 39th Streets, was completed in 2006 and has 93 condominium apartments on its top 11 floors.

Bryant Park Tower address is 100 West 39th Street, this condo unit has Sparkling, Bright, with Huge OverSized windows, this Sunswept exposure Junior One-Bedroom (alcove studio) Sanctuary features Bamboo Floors, Separate Dining/Office Area, Fabulous Closet Space, Sleek translucent Italian Iceglass doors, Limestone thresholds, and a Dream Kitchen with White Oak cabinetry, White Marble countertops, Lightolier lighting and Never-Used Appliances, all with a Soothing Spa-Like Pristine Bathroom outfitted with an Ivory Porcelain floor, Zuma tub, Heated Mirrors, Italgraniti Ceramic tile! This Top Condo with Doorman, “Quintessentially” concierge service, Free Laundry facilities, fitness room with flat screen TV’s, Parking.

Bryant Park Tower - 100 West 39th Street EILEEN HSU

Bryant Park Tower, it is located in the Heart of the City…with the N,Q,R,S,W,1,2,3,7,9,B,D,F,V,S,4,5,6 Trains, Grand Central, Port Authority, and Penn Station Steps Away…Fifth Avenue Shopping, the Theatre District, Fabulous Asia de Cuba, Morgans, Fab restaurants and nightlife outside your door.

If you are a buyer that is looking to buy in Midtown East or Midtown West location, please contact us today to assist you in negotiating the best price possible. We have several amazing deals and steals for our buyers, we invite to call us and we can have some confidential conversation on your specific needs.

Other Manhattan New York Condos blog series that may be interest to you.

  1. 100 West 39th Street-Bryant Park Tower Condo details
  2. https://chinesespeakingagent.com/category/manhattan-ny-neighborhoods/fifth-avenue-midtown-east/
  3. VIDEO BLOGS – Chinese Speaking Agent

Where Foreign International Investors Want to Buy?

Where Foreign Investors Want to Buy
New York is expected to be the favorite city for foreign real estate investments in the U.S. and globally in 2011, according to an annual survey of members of the Association of Foreign Investors in Real Estate. Washington, D.C., came in No. 2 both within the U.S. and global markets for cities where foreign investors most want to invest in the new year.

More than 72 percent of the association members say they plan to invest more money in U.S. real estate this year than in 2010.

“As the fear of a double-dip recession has faded, investors are becoming more enthusiastic about the prospects for the U.S. economy and are taking aim at real estate investment opportunities,” says James Fetgatter, AFIRE executive director. “However their strategy is more akin to a rifle than a shotgun. Except for multi-family housing, they are not scattering their interest throughout the U.S., but rather narrowly targeting it to New York City and Washington, D.C., to an even greater extent than in previous years.”

The top U.S. city picks among foreign real estate investors in 2011 are:
1. New York
2. Washington, D.C.
3. Boston
4. San Francisco
5. Los Angeles

International students’ parents buy NYC Condos

Many of our foreign buyers are parents of International students from Europe, Asia, Canada, Latin America and other countries. Other than many career and investment opportunities, Manhattan New York has many distinguish universities and colleges that offers many international students undergraduate and graduate degrees. We helped many parents of international students from New York university, Parsons school of Art and Design, School of Visual Arts (SVA), Columbia University, the Jillard school, Cooper Union and other academic institutions.

Here are some options for international students and the parents to consider:
School dormitory: If the student is very young and new to New York, the first year or first 6 months they usually stay in the dormitory so they can familiarize themselves with the city. This option is usually more expensive than renting an non-dorm apartment in the school surrounding areas.
Renting an non-dorm apartment: This option costs slightly less than dormitory, although as an International student or foreigner, majority landlords requires extra security deposit sometimes up to 6 months of rent upfront to 12 months rent to establish relationship and security. If the student or parents do not have United States social security number, nor US credit history, the parents usually have to pay for one year upfront to obtain an rental apartment.
Buying a Manhattan New York condo or building: This is often the option for most of the international parents chose. In today’s market, there are well priced Manhattan New York condos for international students and parents to choose from.  The important thing is to establish the location, the price range and the time frame to maximize the Manhattan New York condo search.
Call us directly at (646)644-6929 to discuss your specific purchase as an international student or parents.

Buying a Manhattan New York Condo as parents buying for children, you should plan ahead, and speak with all the parties involved (not you and your child but rather the right mortgage consultant/banker, accountant and a knowledgeable Manhattan Real Estate attorney.)

  • Mortgage consultant: If you are planning to buy the condo all cash, that is always desirable when presenting offers to condo sellers. Keep in mind that you should have enough equity in case there is an increase in monthly carrying charge for this condo or other misc mishappens. If you are planning on financing this investment, be sure to speak to a local Manhattan lender that is familiarize with the market, the lending rules, and the mortgage products that may be suitable for you and your son/daughter.
  • Accountant: If you are planning to co-purchase the condo with your child, be sure to discuss the possible tax complication you may have with your accountant. Speak to your accountant prior to your purchase can be very helpful.
  • Manhattan Real Estate Attorney: In addition, speak to a local Real Estate attorney will be helpful as well since the local Manhattan Real Estate can also advise you what is the best way to structure the purchase and think about who/how should take the title of the deed.

Call us directly at (646)644-6929 to discuss your specific purchase as an international student or parents.

Foreign Buyer Buy NYC Condos-FAQ

We as Manhattan Real Estate professionals, we work with many international foreigners wanting to invest in Manhattan Real Estate. In addition to educate foreign buyers about the maze of Manhattan Real Estate market, our specialty is facilitate the purchase to ensure the transaction is smooth and successful. Below are some frequent asked questions by our foreign buyers, the answers are formulated by our team of professionals (tax accountants and attorneys who also specialized in foreigners purchase in Manhattan New York.) These answers are general and not case specific.  To best address your specific needs,contact us directly by email or call (646)644-6929.

Can Foreign Nationals buy a NYC condo without having Social Security Number or US residency?
Yes, they can legally, but have to meet the NYC Condo board’s requirements for approval. At the sale of the real property, Non-resident aliens are subject to federal withholding tax at 10% of the gross sales price, and to a 8.97% New York State estimate income tax on the net sales proceeds (gains).THUMBNAIL

Can Foreign Nationals with work visa or student visa buy Manhattan Properties?
Yes, they can legally, but have to meet the condominium/coop board’s requirements for approval.  If they remain non-resident aliens at the time of the sale of the real property, they will be subject to the same taxes at the time of sale, as above.

If not, what kind of documents should a foreign nationals prepare to be able to buy?
In order for a Foreigner to buy NYC condo, they need to have  a valid passport and/or other official photo ID for identification purpose.

What are the Options for Foreign Nationals (non-residents aliens) to hold title for NYC condos: (these answers are information only, we are Real Estate professionals, therefore, before you make a specific decision, we recommend you to discuss with our team of attorneys and tax accountants for your specific case.)

  • Individual: Individual may be exposed to unlimited personal liability, and to estate issues, for instance, inheritance,  will probate and estate administration, when the individual owner dies.
  • LLC: Limited Liability Corporation provides insulation for members from personal liability, but will incur maintenance costs, such as  filing fees for its formation, annual franchise tax  and is subject to higher formation costs (higher than a corporation).
  • Trust: Trust is an unincorporated entity, cannot hold title by itself; title must be reqistered in the  individual trustee’s name.;  the individual trustee may be exposed to unlimited personal liability.
  • S Corporation: S Corporation is a legal entity, insulates shareholders for from personal liability, does not pay income tax itself, the income tax liability is attributed to the shareholders.  It is subject to filing fees for incorporation, annual franchise tax, etc.
  • C Corporation:  C Corporation is a full fledged legal entity.  It provides shareholders insulation from personal liabilities.  It is a taxable entity for corporate income tax.  Any distribution of after tax profit to shareholders in the form of dividends will be subject to income tax for the shareholder.  It incurs maintenance costs, such as filing fees for incorporation, annual franchise tax, etc.  Its filing fees are less than that for the LLC.
  • Limited Partnership: the limited partner’s liability is limited to his/her capital interest in the limited partnership, whereas the general partner will be subject to unlimited personal liability.  Limited partnership, like general partnership does not pay income tax.  The income tax liabilities are attributed to the individual partners. A limited partnership need to file the partnership agreement with the government.

*These answers are general and not case specific. To best address to your specific case, contact us directly at (CONTACT US) and we can set up a confidential consultation.

If both husband and wife have green cards, will they pay tax similarly as above options?
Resident individuals owning real property pay the same taxes, but not subject to the gross 10% federal withholding tax and the 8.97% New York State estimate income tax on the gains at the sale of the real property.

Can the Foreigners avoid United States taxes?
The taxes cannot be avoided.  The non-resident investor must pay the above taxes at the time of closing of the sale, without the tax payments, the deed will not be accepted for recording.  After having paid the taxes, the non-resident investor may, but need not, keep the proceeds in the U.S. without additional tax (except income tax on the interest payment on such proceeds).

Breathtaking views at 25 Columbus Circle-Time Warner Center

Many of our VIP buyers love this condo building. Time Warner Center is located on the corner of Central Park south and Columbus Circle. This beautifully constructed, mixed-use, two -towered, glassed buildings replaced the old New York Coliseum on Columbus Circle and was completed in 2004/2005.

The Time Warner Center complex consists of retail space with shopping center, offices that include the headquarters of Time Warner, a jazz concert hall for Lincoln Center for the Performing Arts, a five star Mandarin Oriental hotel, CNN TV studios and over 200 condominium apartments.

The building has several street addresses: including 25 Columbus Circle for the South Tower and also known as One Central Park, 80 Columbus Circle for The residences at the Mandarin Oriental hotel, and 10 Columbus Circle for offices.

Columbus Circle Condos Part 1 – Time Warner Center condo- As of August 2010: here are the market prices for 80 Columbus Circle also known as Mandarin Oriental residences (SOUTH TOWER) :

  • 9 active sales listings: $5,839 per ft² (median)
  • 28 previous sales listings: $4,051 per ft² (median)
  • 62 recorded sales: $6,575,000 (average price)
  • Two Bedroom condominiums starts at $5,700,000.
  • Three Bedroom condominiums starts at $18,000,000.

If you would like to receive specific Time Warner Center Condo information, please contact us at 646. 644. 6929 We can discuss specifically as to what exposure works best for you.

Other Time warner Center and Central park New York condos information:

Perfect Condo Studio for the studio seekers

NEW ON MARKET. Perfect alcove Studio for studio seekers or investors. This is one of the most sought after condominium in the heart of Manhattan. Building amenities include:Driveway, Courtyard, Garage (Accessible From Elevator Banks); Health Club; Pool; Sauna; Jacuzzi, Squash Court, Basketball Court, Table-Tennis, Central Laundry Room; Valet; Digital TV; High Speed Internet Access, Package Room & On-site Dry Cleaner. CALL TODAY FOR APPOINTMENT.

We are Chinese speaking Real Estate Agents in NYC hosting Manhattan Condo Tours

We are Chinese Speaking Real Estate agents here in New York city (Manhattan New York). We often host Manhattan Condo tours that cater our buyers from overseas as well as local Chinese buyers since we are bilingual and understand the culture difference. We receive many television and film requests to come on the tour with us because of our experiences in hosting these successful condo tours and many people find this way of touring for properties fascinating and innovative.

So when IDTV Film wanted to film the story of how Dutch culture is similar to Chinese culture at certain aspects, they wanted to work and film our Manhattan Condo tour with the Chinese buyers. We were delighted to work with IDTV Film crew and we spoke to the producers and arranged them to come on one of our tours.

As Chinese Speaking Real Estate here in New York city, we will continue to have the tour in different  price ranges and Manhattan neighborhoods. It will all be condominiums that are friendly for foreign buyers as second home, investment, pied-a-terred. So they too can have their very own piece of Manhattan. Please visit our website to register or to find out more information please visit: http://www.ChineseBuyNYC.com

*BUYERS AND INVESTORS, we also cater property tours for other language speaking foreign nationals or private one-on-one consultation and tour. For a tour that is specific to your needs, please contact us EileenHsuNYC(@)gmail.com for specific details)*

*SELLERS AND DEVELOPERS, WE SPECIALIZE IN FOREIGN NATIONALS PURCHASING MANHATTAN CONDOMINIUMS/REAL ESTATE INVESTMENTS. CONTACT US TODAY TO DISCUSS HOW YOU CAN BENEFIT FROM WORKING WITH OUR TEAM TO MAXIMIZE YOUR MARKETING EXPOSURE TO OVERSEA MARKET. (we work with highly financial qualified buyers that are seeking to purchase multiple investment condominium units*

Manhattan Condo Buyers Must Read

1. If you need financing (mortgage),  speak to a reputable lender or mortgage consultant to see how much can you finance in economic climate. In today’s market, lending guidelines are changes daily, it is a must to know how much you can leverage.

2. Once you know how much you can borrow from the bank, you can start the home search. Do Have a realistic budget of what you are looking for. Manhattan New York condo is approximately $1,000 per square foot for average condos or fixer upppers depending on the neighborhood, you will need more than $500K to buy a one bedroom condo.  A good size of one bedroom condo (650 – 750 square feet) can priced from $650,000USD to $890,000 USD depending on the exposure, location and other important factors.

3. Speak to an accountant to see if you need to structure the purchase in a specific way to enjoy the tax deductible benefits of buying a Manhattan Real Estate. If you are a first time home buyer, is it beneficial to co-purchase the condo unit with your parents or alone; If you are an foreigner, is it better to buy it under your own name or start an LLC?; If you are an out of town investor, is this purchase going to be an investment property or?

4. Discuss with your banker if you have money in bonds and money market. Find out how many days will it take to liquidate your funds so you know once we have a verbally accepted offer. Often in Manhattan New York market place, the seller seeks 10% of the sales price as down payment at the time of signing contract. With that being said, if you are buying $1M Manhattan condo, you will need $100,000. at contract signing.

5. Do have a Manhattan New York Real Estate attorney ready. Manhattan Real Estate transaction requires each buyer and seller to have an attorney representing them in drafting and finalizing the contract. A good attorney can save you headaches, money and risks, ask your agent to refer you (3) attorneys so you can call and interview. Explain to the attorney what you are planning to do, and see which attorney you feel most comfortable to work with.

6. Contact us for help. We are experienced and knowledgeable Real Estate professionals that is well versed in Manhattan condo market. What is it that you are looking to buy? You want to find an agent that is familiar with the product that you are interest in buying. A Condo or Co-Op? Uptown or Downtown? Do you speak specific language that you preferred the agent speaks your mother tongue? Do you need an agent that work specifically with foreigners? Go on a search engine such as Google, try type in what you are looking for, and see if any agent shows up on the search result.

Call us today at (646)644-6929  to discuss your specific Manhattan Real Estate needs. We are experienced Real Estate professionals that will help you navigate through this Manhattan Real Estate maze. Call us now (646)644-6929.