WHAT AREAS ARE THE BEST PLACES TO INVEST IN NYC AT THIS TIME? 1 BR/1 BA WHAT WILL BE MY POSITIVE CASH FLOW IF ANY?

Asked by Mddoc27, Danville, VA Fri Mar 8, 2013

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Michele Port…, Agent, New York, NY
Mon May 27, 2013
If you are looking for investment only in New York City, you need to be looking at condos.Most co ops have a limit on how long owners c\are allowed to rent their apartment. Each building is different and defined by the guidelines of the specific co op board. However, most co ops frown on transient occupants. The ROI will vary in each condo depending on purchase price, taxes and what price you are able to rent the apartment out for. If you purchase with a mortgage as oppose to all cash, the ROI is obviously less.
My advice is to speak with a knowledgeable Real Estate Broker and a good NYC real estate lawyer for guidance.
I represent the owners of several investment properties in NYC and would be most happy to speak with you.
Michele Portnof
SVP/Associate Broker
Rutenberg Realty
mportnof@crrnyc.com
0 votes
Eric Deteli…, Agent, New York, NY
Tue Mar 26, 2013
When you're looking for strictly an investment property, the development/future of the neighborhood is one of the key factors in buying. You should consider buying on the West Side, specifically Clinton with the development of the Hudson Yards and other major developments taking place within the next 10 years. If you're looking for an immediate development in the neighborhood, look at Upper Midtown. With One57 almost completed, development companies are buying within that immediate vicinity and the neighborhood has a new surge of demand. Another key factor of that neighborhood is, of course, being a few blocks from Central Park.

Good luck to you Mddoc27!
0 votes
Kareem Bailey, Agent, New York, NY
Tue Mar 26, 2013
In my opinion Harlem and brooklyn are two of te hottest areas right now. You will get a better bang for your buck in a fast growing real estate market.
0 votes
., , New Hyde Park,NY
Wed Mar 13, 2013
I also have a lot of experience working with absentee owners/ investors, setting up property management services and out of town/ state deal closings.
0 votes
., , New Hyde Park,NY
Wed Mar 13, 2013
-- Lower East Side, Manhattan -- Just recently I came came across a two-bedroom, one-bath with a balcony in a co-op building with a private playground is on the market for about $450,000. A one-bedroom with a balcony can be in the upper $300,000
Here you can find units have with two stories and double-height ceilings.

-- Battery Park City, Manhattan -- Battery Park offers great value potential in owning and investing.
The Hudson River is steps away. You can find nice Studios starting at mid $500,000 and one-bedrooms starting around $645,000.

Co-ops would normally be cheaper than condos, but harder to sublease, so you may want to look for a building with a liberal sublet policy.

There are many factors you need to consider before investing. I will be happy to go over them with you . Contact me today for a list of great investment quality properties!
0 votes
Talia Agent, Agent, New York, NY
Sat Mar 9, 2013
Straight talk,I would say Not Eastside. Harder to rent. West side, lower manhattan and Financial District. Near existing transport.

Agent :Talia Ac.Lawrence

201 232 3632

Thanks.
0 votes
Yi Chen, Agent, New York, NY
Fri Mar 8, 2013
Depends on your budget, 1 bed 1 bath starting from $700,000-$1,650,000 in different areas in NYC. You "ll need an agent that knows the best value in the city and knows your situation well to locate the positive cash flow for you.
Best,
Yi Chen
Sotheby's International Realty
Yi.chen@sothebyshomes.com
0 votes
Jenet Levy, Agent, New York, NY
Fri Mar 8, 2013
In my opinion, the best values right now are on the Upper East Side and in the Financial District. As you may know, we are trending up, and most neighborhoods right now have very little inventory. Properties are routinely sold in multiple bidding situations (bidding wars) for at or above ask. The reason the Upper East Side is good value now is that it is one of the few neighborhoods with abundant inventory and, furthermore, will appreciate in the future with the coming of the 2nd Ave. subway. The Financial District is still developing, though quickly, as a residential neighborhood. There is still room for appreciation there and more amenities are coming to the neighborhood all the time. As an investor, positive cash flow would be up to 5%, if you are lucky.

Best,
Jenet Levy
Halstead Property, LLC
jlevy@halstead.com
212 381-4268
http://jenetlevy.halstead.com
0 votes
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