5 reasons why Manhattan New York Real Estate is different

By
Real Estate Agent with Douglas Elliman Real Estate

All Real Estate is local; Real Estate business is definitely local. Being Manhattan Real Estate agents, we adapted our unique market place and navigate through this concrete jungle the best we can. You can read our about Part I of" 5 reasons why Manhattan New York Real Estate business is different"In Part II of "5 reasons why Manhattan New York Real Estate is different"  we answered some frequent asked questions by our out of town buyers:

  1. We rarely have ‘Park Space' available for sale, most of the garages in Manhattan New York are operated by third party vendor. This means even if the garage is located on the ground or lower level of the building, it is not part of the building amenities.  The garage user pays a separate monthly fee depending on the availabilities and season. (The monthly garage fee runs typically $400-$500 per month fee).
  2. We use ‘Central Laundry' in the building to do the laundry. Unless it is a newly recent construction or the building allows, there is usually no private washer and dryer in the apartment. Most of the cooperative and condo buildings' plumbing does not support individual washer/dryer. Central laundry usually is located on the lower level of the building or throughout the floor depending on the building.
  3. We have a ‘Pet Policy' in every building. Each building's pet allowances is different and unique. New York city is a pet friendly city but not every single puppy or kitty is allowed in the building. Some building has ONE PET only policy, some building only allows pets to be UNDER 50lbs, some building will only allow indoor cats but not dogs. Pet owners must check with each building before they start the search.
  4. The apartment is Sold AS IS and condition is delivered as ‘Broom Swept Clean'. This means the owner is only obligated to clean up the apartment with a broom and not necessary wipe down every single scratch or stain on the wall or kitchen counter. As a courtesy, the owners that we have worked with have always deliver the apartment in good clean condition. Unlike the new construction, the sponsor (builders) apartment is often professionally cleaned.
  5. Lastly but not least, we do not have an ‘MLS' (multiple service listings) here in Manhattan New York. We do have a listing system similar to it; however, it is access through the internal listing system by Real Estate professionals. Unlike the rest of United States, so far there is no perfect centralized listing website or portal that you can browse all the availabilities. Working with the right Real Estate agents like ourselves can give you access to the insiders listing and database.

I think some of these points may be surprising to the other agents and buyers in the country. We are Manhattan New York Real Estate professionals and helped many out of town buyers navigate through this Real Estate maze If you are searching for Manhattan New York Real Estate and you are a first time home buyer/investor or out of town buyers, call us today at (917)837-8869.

Read more about our expertise in the blogs series below:

  1. http://ChineseSpeakingAgent.com
  2. Columbus Circle Condos Part 1 - Time Warner Center condo
  3. Columbus Circle Condos Part 2- Trump International Hotel and Tower Condo
  4. 400 Fifth Avenue - Setai Fifth Ave New York
  5. Dorchester Towers Condominium NYC
Posted by

 ____________________________________________________________________________

 

Eileen Hsu 許雅嵐 (email: EHSU(@)elliman.com)

Our team specialize in Manhattan New York Condominiums, townhouses, and condops.

We are condominium residents ourselves so we understand the Manhattan New York condominium community. We also enjoy all Manhattan neighborhoods, especially Upper West Side, Lincoln Square, Midtown East, Murray Hill, Financial District, Chelsea, Fifth Avenue, Greenwich Village, Nolita and etc just to name a few. If you or you know someone that may be interested in selling, buying or leasing their Manhattan New York condo, call us today (917)837-8869 or (646)644-6929 and we can discuss your specific Real Estate goals.

Manhattan New York Condo Specialists or Chinese Speaking Real Estate Agent

 

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Rainmaker
275,209
Colleen Lane
Kennewick Richland (and West) Pasco WA Homes For Sale - Kennewick, WA
Realtor(r) 509.438.9344 www.LaneRealEstateTeam.com

Very nice list Eileen.  I almost expected this blog entry to be written in Chinese!  :)

Sep 14, 2010 04:01 AM #1
Rainmaker
1,614,454
Jeremy K. Frost
Keller Williams Realty - Dripping Springs, TX
Associate Broker, CNE, CRS, ePro, PSA

Great 5 reasons that apply to the Big Apple!

Sep 14, 2010 04:03 AM #2
Ambassador
544,185
Gerry Michaels
Glasswork Media Arts - Gettysburg, PA
GettysburgGerry Social Meida

I remember the "broom clean condition" that you mention, what I always found interesting was that so many people used a different size broom, some were very very small brooms...LOL

Sep 14, 2010 06:02 AM #3
Rainmaker
985,918
Will Nesbitt
Nesbitt Realty at Condo Alexandria - Alexandria, VA
Nesbitt Realty is a family-run brokerage.

Yes Eileen, Park Space does stand out and should be on the No.1 of the list

Sep 14, 2010 06:36 AM #4
Rainmaker
333,694
Rita Fong
RE/MAX REAL ESTATE TODAY, Executive Broker 901-488-9590 - Marion, AR
Realtor - Marion Arkansas Homes for Sale

Eileen, it seems like sellers in Manhattan have less things to do like cleaning, and repairs to sell their condo comparing with sellers who are selling a house in other places.  Manhattan is definitely an unique place to live and do real estate business.

Sep 14, 2010 07:40 AM #5
Rainer
232,060
Marcia Hawken
WILLIAM RAVEIS - Naples, FL
Naples Luxury Specialist

Eileen, I cannot imagine not have MLS but I am sure your systems is equally effective.  We have many unique differences in our contract as well as rules and regulations in the Naples market.  

Sep 14, 2010 08:28 AM #6
Rainmaker
716,358
Ruthmarie Hicks
Keller Williams NY Realty - 120 Bloomingdale Road #101, White Plains NY 10605 - White Plains, NY

Hi Eileen, In many ways its very similar in condos and coops in Westchester. The difference is Westchester is NOT as pet friendly and thank goodness we have an MLS.  The other difference is that listing agents do not accompany buyers agents. We do use a lock box in buildings where it is allowed.

Sep 14, 2010 10:33 AM #7
Rainmaker
558,018
Cherise Selley
Selley Group Real Estate, LLC - Colorado Springs, CO
Colorado Springs Realtor

Eileen,

I'm always interested when you post the differences of how to do Manhattan real estate versus what seems more typical through the other national markets.  NO MLS...You really have to do your job to network effectively... g

Sep 14, 2010 11:46 AM #8
Rainmaker
820,770
Juli Vosmik
Dominion Fine Properties - Scottsdale, AZ
Scottsdale/Cave Creek, AZ real estate 480-710-0739

Wow, how interesting.  NO MLS?  I expected the pet policy, but NO MLS?  Sounds like you have to do twice the work.

Sep 14, 2010 05:55 PM #9
Rainmaker
601,332
Donne Knudsen
Los Angeles & Ventura Counties in CA - Simi Valley, CA
CalState Realty Services

Eileen - Like others, I too am astounded that you have no MLS.  How do available listings get promoted?  I'm curious, what is your similar system?

Sep 17, 2010 05:38 PM #10
Rainmaker
732,653
Eileen Hsu
Douglas Elliman Real Estate - Manhattan, NY
LICENSED REAL ESTATE SALESPERSON

We do not have an 'MLS' but we have a listing system thta is similar to it. Each company has their central listing data directory, so the agents will be able to access to every single listings. If buyers were to look for listings, they will use a larger website like New York Times or Street Easy.com or contacting a Real Estate Professional to see every single listing in their criteria.

Sep 17, 2010 11:39 PM #11
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