We are New York city Condo specialists, we are full time Real Estate agents that specialize in Manhattan Condominium market. We work with many out of state 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:

• If you plan on financing, please 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 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.
• 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 reasonable budget of what you are looking for. Manhattan New York condo starts about $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 condo unit exposure/view, floor height, renovation and overall condition. In addition, the building amenities, such as fitness center, residents lounge, roof deck, basketball court, swimming pools will also add onto the sales price of the condo)
• 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 headaches, money and risks, we can refer attorneys to you 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.
  

Manhattan Real Estate market is very unique and different than any part of the world. We are extremely experienced and knowledgeable when it comes to finding the right Manhattan New York condo for our buyers. Contact us today at (917)837-8869 and we can discuss in private what you are looking for.

Greenwich Village One Bedroom Condo for Sale Market Report

Greenwich Village in New York City has and continues to be one of the most in demand neighborhoods. A rich cultural history, aesthetically pleasing tree lined streets, near to multiple universities, in the heart of downtown Manhattan, restaurants, shopping and entertainment all within a close distance. It’s also a neighborhood that is made up of predominantly cooperative apartments when it comes to Real Estate. For those looking for a condominium apartment, there really are not that many choices.

Condominiums for sale in Greenwich Village is one of those searches that are going to lead you to the same group of buildings and an even more focused search if you are looking for a new construction condominium in Greenwich Village or a Pre-war condo for sale in Greenwich Village. Those searches are even more focused to just a handful of buildings.

The One Bedroom Condo for sale in Greenwich Village is one of the most sought after types of searches that we continually receive from buyers. The location near NYU, Parsons, Stern Business School, SVA, make the neighborhood prime for the entry level 1 bedroom condo for sale market. New construction condominiums are very difficult to build within the neighborhood due to neighborhood building restrictions and limited development sites, so the condominium market is limited.

With this limit comes with it a tight supply, the built in high demand and the result is pricing for a One Bedroom Condo for sale is going to start in the $900,000 range and quickly go up from there.

Pricing and Inventory for One (1) Bedroom Condominiums for Sale in Greenwich Village :

As of the end of January 2012, I only see Eight (8) One Bedroom Condos for Sale in Greenwich Village. That is a tiny amount of inventory, when considering the market as a whole.

The pricing ranges on the low end of $1,150,000 up to $2,200,000. The range in pricing is reflected in the building the apartment is located in, the size of the apartment, views and the condition. I see condition playing a huge role in pricing right now. Move in condition or recently renovated apartments sell at a premium and sell quickly.
To give you an idea of the One (1) Bedroom Condominiums for Sale in Greenwich Village Market, in 2011 I see that approximately 25 apartments sold. The average price was a little more than $1,100,000 and the average price per square foot was about $1,300 sq/ft.
These numbers reflect a variety of types of apartment, so depending on your own individual search, pricing will vary.

If you are looking to buy for yourself, a family member or as investment a One (1) Bedroom Condominiums in Greenwich Village NYC and would like help with your search contact us today at (917) 837-8869 or email at Morgan.Evans(a)Elliman.com

Read other useful blog posts about Greenwich Village below.

Greenwich Village New York Condos near NYU (New York University)

Greenwich Village Prewar Condos

Gem-Greenwich Village Townhouses