All Forum Posts by: Brandon Cohen

@Zachary Feldman I had a contact at community bank I’m happy to share. I wound up using my lender here in NYC for the transaction, rates were a bit better.

Congrats on the deal! Would you mind sharing who did the work for you up there? Been looking for someone who can help with a rehab.

@James Lebron are you unable to obtain a traditional loan?  I can give you contacts if you need for traditional lenders but maybe that’s not what you need.  

@Vincent Sottile it all depends on your budget and goals.  I bought my apartment (coop) and my monthly costs are less than what I was paying in rent.  I just sold another coop to a friend who renovated and he added a ton of equity.  The down payment is the tough part, of course.  You could of Course continue to rent and buy in another market but I think NYC is always a safe buy when you buy right.  

@Susana F. welcome to the site.  Where in Manhattan are you looking to buy?

@Benjamin Cohen welcome!  If you come across any good multifam deals let me know 

@Kushal Shah Manhattan is full of neighborhoods which essentially act as submarkets. The market over all was slow through 2010-11 but by 2012 there were lines at open houses and multiple bids was a common occurrence. We’re in a buyers market now in Manhattan except for the occasional hot property which will sell quickly and at/above ask. If there’s something specific you’d like to look at I’m happy to discuss.

@Kushal Shah agreed with above it depends what you’re looking for. My investors are typically just looking for a hands off long term appreciation play so they’re buying condos with a full time super. I wouldn’t suggest investing in Manhattan for cash flow.

@Jim Brown I’m an agent and live/own on the UWS as well.  Happy to come give you my genuine thoughts on the apartment and price.  Feel free to DM and we can connect.  

@Bernard Reisz thanks.  I work and live in NYC so prefer to stay local.  

Does anyone in NYC have an accountant they can refer that is familiar working with real estate investors?  Thanks in advance