New York City real estate has always been a reliable profit center for the savvy long-term investment. Luxury apartments with top-notch amenities can be a very profitable investment vehicle. For those who want a taste of the New York City lifestyle, renting is often the first step before buying. In premier neighborhoods such as the Upper East Side, these units can rent for tens of thousands of dollars each month. Let’s look at five ways investors can profit from Luxury Apartments For Sale in Manhattan.
1. Did you know that some of the hottest rentals on the market don’t have anybody living there? New York’s $20,000 a month penthouse has no tenants, but influencers will pay big just to take photographs in its interior.
2. Home away from home. Read the covenants rules and restrictions carefully, as some buildings do not allow unit owners to rent via services such as VRBO.com or Air BnB. Likewise New York City also has rules on the books regarding renting a property using the services.
3. Long-term rentals. Market your apartment with leases that classify a six-month minimum stay. Plenty of people come to New York but will not stay here long enough to justify taking out a one-year lease. Operating around the margins can ensure a steady flow of tenants and cash.
4. Lease your apartment to a corporation. Corporations are always looking for unique properties with which to house their executives or provide accommodation and privacy to top-tier visitors.
5. Advertise overseas. It’s not uncommon for whole families to look for accommodations in New York City. Find a family market for two to four-bedroom luxury condominiums on The Upper East Side.
Buy the Best
Apartments for sale at 200 E 62 NY on the Upper East Side are among the finest on the market and sell very quickly. Buying one or more units in this buyer’s market gives you a better than good chance that your investment will increase in value simply from market forces. Contact a local real estate professional to set up showings of premier properties for long-term investment, and find the approach that works for you when it comes to monetizing your properties.
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