Real Estate in Manhattan

$2.5-$3.5mill if you are lucky finding one.
are we going to have a new tri-state member soon?!
cool to have a TR in our group, especially a black one!

 

east or west?

 

By the way, I highly recommend that you get a realtor. You don't pay their fees; the seller does. So, what do you have to lose? Call a top notch firm. The realor doesn't just help you find a house, but all the BS that comes after. I just purchased a co-op and it is a gigantic pain in the rear. My realtor has been a phenomenal help, and it's all for free. You tell them what you want and your price range, and they'll send you dozens of options.

There's a bunch of good websites to search with. www.realtor.com is a good starting point (for any location actually, not just NYC - it has all the MLS listings, and it has always been my first stop), though searching by location isn't the easiest. Other upscale listings can be found at www.elliman.com, http://www.brownharrisstevens.com/, and www.sothebysrealty.com

N Y Times has pretty much everything that's on the market, though some stuff might be sold. Their other great feature is that you can enter in your price range, number of bedrooms, and location, and get email alerts every time something that fits your need comes on the market.
To search on NYTimes, go here: http://realestate.nytimes.com/sales/SearchCriteria.asp
For the email alert feature, go here: http://www.nytimes.com/pages/realestate/index.html and click on "Email alerts" in the lower left corner of the left hand box.

This should give you a really good starting point. But, call a realtor! Do you have any other specific questions?

 

Yup. I would recommend as well. Your agent will get paid once they find you a property and you buy it. The sellers agent and your agent end up splitting the commission.

 

Hire Keith. I heard he just took his Real Estate exam.

But seriously, zjpj's advice is on the money.

 

I need a small place just to rest my head at times when in the city or to bring the *****es . hubert what u think .

 

No larger than 6,000 sq. ft. for a baller like you, right Lupe.

 

always a good idea to get a pad to bring dem b!tches!!!

i would suggest that if u already know where and what type of apartment you want to live.....that u skip out on using a real estate broker. The primary reason being that sometimes with arrangements with the selling broker and seller, if the buyer does not use a buying broker, the seller only pays the selling broker 3% commission instead of the standard 6% commission. Thus since the seller saves on 3% commission (since there was no buying broker involved), the buyer may be able to negotiate a little more on the purchase price of the apartment.

just my 2 cents....
u can always see real estate listings by area and price and etc....
www.corcoran.com
www.douglaselliman.com
just to name a few....

 

In the state of NJ it is different. Sounds like in NY it is the buyers market. In NJ, regardless of the commission, if a buyers broker finds a buyer for the property, the commission is split. If there is no buyers broker the selling agent gets to whole commission. Example: 6% commission would be split between both agents and if only one agent the one gets the 6%. Hope this is not to confusing.

 

In NY.....if no buying broker is involved, SOMETIMES the selling broker gets 3% instead of 6%. It all depends on the arrangement of the deal between the seller and the selling broker's company.

and since it is a seller's market right now, the seller has more pull in setting up a sweet deal for himself with real estate brokers. i know that for a fact.

 

I get it now. Pretty much the same as here.

I agree with you on that point!

 

Was that on the Chapter 1, Page 2 of your study guide?

 

That would be Chapter 5 Mr. Li.

 

Get a house with a 9 car garage in NJ or CT.

 

Good idea. That way you can store all the cars you will ever need. Real estate prices in NJ are going crazy.

 

also look at corcoran (www.corcoran.com), they're the largest realtor in the city and handle $350k studios to $20mill brownstowns.

my recommendation have bought/sold a few times here: don't waste your time trying to go it alone in hopes of saving that 3%. at 2.5 to 3 mill, you won't be taken all that seriously by sellers (and the broker whispering in their ear) in order to try and save that 3%. with a broker on your end, they'll belive there's less a chance of you flaking out with somone on your end keeping the pressure on to close a deal.

plus, how much is your time worth? your broker shows you places, and just as importantly, helps arrange the monumental pain in the ass closing process that you go through in Manhattan. Plus, if it's a co-op (which are in the majority versus condos), he/she helps you pull together everything for that (and prep for the interview).

 

interesting article by Dow Jones Newswires today. here are the highlights::

The average price of a Manhattan apt in the lastest quarter topped the $1 million mark for the first time as low mortgage rates and a recovering economy appeared to drive the market.

Average price for a Manhattan apartment was $1,047,938 in the 2nd quarter, up 5% from $998,905 in the 1st quarter and up 21% from $866,970 a year ago.

Average price for a condo was $1,245,633 up 20% from $1,039,331 a year earlier.

Inventories have also been ticking up. Homes took a little longer to sell in the second quarter than they did in the first- mainly because of the increased listings.

In the quarter, the average price of a studio in Manhattan was $326,947, up 26% from $259,480 in the first quarter and 29% from $254,095 a year ago, according to the Prudential Douglas Eilliman report.

One-bedroom apartments fetched $535,751 on average, up 11% from $483,068 in the 1st quarter and 23% from $437,102 a year earlier.

Two-bedroom apartment average price was $1,339,520, up 7% from $1,255,204 in the 1st quarter and 28% from $1,046,609 a year ago.

 

true that it realy is not cheap to live here i'm moving to guam

 

Argentina for me - anyone want to come start a winery and boutique luxury hotel? Land's cheap, the wine's good, travel's picking up down there... and the roads aren't As bad for a ferrari as they might be... (mind you, many of them are certainly not good...)

Oh, and almost forgot, the women!

What am I still doing in New York again?

 

welll....

if u own lots of real estate in manhattan.....u must be really happy cuz u made size loot

$$$ ka-ching $$$ baby!

we laying pipe the rest of our live$!!!!!

 

You can get ROW and JDM cars in Guam...