I would also consider how easy or difficult it may be to rent in any particular buildings. Many condos now make it difficult and discourage rentals by charging high application fees and paperwork for approval.
Feel free to contact me if you need assistance. We offer free management services to our investor buyers as well as a 1% rebate of your purchase price at closing.
Always go for the better neighborhood. It is much better to have the smaller place in the better neighborhood than the bigger place in the lesser neighborhood. That said, it is a very general statement and there are many other things to take into account. Is the "cheaper" neighborhood you are talking about one that is poised for growth? If so, you may see more appreciation than in the neighborhood that is already well-established. These are things a skilled agent can tell you, as we study the market every day and are aware of the trends. I certainly hope you are not going it alone. A great buyer's agent will save you time, money and aggravation. We streamline your search, negotiate on your behalf and take you through all the steps. We also answer questions such as the one you pose here on an ongoing personalized basis.
Halstead Property, LLC
Oh, and is there some reason properties don't list the current rent being received?? It would really help with the calcs.
Licensed Real Estate Associate Broker
Bellmarc Brokerage, Ltd.
681 Lexington Avenue
New York, NY 10022
Phone 212-688-8530 x223 Cell 917-991-2528 Fax 212-758-7495
The decision is yours, work with a Real Estate Agent you are most comfortable with and go for it, its a buyers market. Good luck !
Joseph Asaro, ABR, CBR
NYS Real Estate Agent
Century 21AA Realty Inc.
If you're looking to move on this opportunity now then I'd opt for the best space your money can buy in the best neighborhood.
I'm happy to help further if you're interested in working together. Don't hesitate to contact me. Good luck!
Albert Capozzelli, Licensed Real Estate Salesperson
A.C. Lawrence & Co.
228 East 45th Street
New York, NY 10017
+1 (646) 258-1199