This question is best answered by your accountant and your attorney. I would be overstepping my area of exerpertise as a real estate agent to answer this question. I will leave that to the qualified specialists in their field and will have a terrific attorney I have given several of my most recent deals to the link to answer you here. I can tell you that you cannot purchase a co-op as an LLC; it must be a condo, and the property you have picked out is a condo.
What is very important to bear in mind, is that it is very important to use a skilled, experienced real estate agent as your buyer's agent. Whether it is to go forward on the property you have already identified of whether you broaden it, we have access to information that you would not find in the listings on public websites. We can streamline your search, negotiate on your behalf, and take you through all the steps of your purchase. New York City real estate is flukey and quirky and it is greatly to your advantage to have a professional on your side. The sellers all have agents, and so should you. It levels the playing field, saves you money and aggravation, and there is no cost to you, as the seller pays the commission.
Halstead Property, LLC
http://jenetlevy.halstead.com for all NYC listings
I purchased them under my own name (for financing) and then moved them into the LLC's. Not sure how "kosher" that is; please discuss with an attorney.
Whether you purchase into an LLC or finance an investment property, the rates will be higher than a primary home.
Financing will generally be more difficult to obtain when using an LLC in today's lending environment. There are lenders that will understand your particular financial objectives. These lenders will generally price the loans a bit higher in keeping with the historical risk levels associated with these types of mortgages
Ultimately it is best to discuss your situation with you financial planner, accountant and attorney. They will assist you in coming up with the structure that best suits your needs now and in the future.
Bond New York
SVP/ Associate Broker
Rutenberg Realty NYC
212-688-1000 x 189
Hope that helps,
L.G. Fairmont Group