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Old 04-02-2012, 03:55 PM
 
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For buying a new pre-construction 1 bd condo or studio below 400k to rent out for at least $2500 a month. Not interested in co-ops.
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Old 04-02-2012, 04:32 PM
 
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Quote:
Originally Posted by OleSchoolFool View Post
For buying a new pre-construction 1 bd condo or studio below 400k to rent out for at least $2500 a month. Not interested in co-ops.
Maybe East Williamsburg or whatever it's called (no, not Bushwick, East Williamsburg). I looked at this building:

ID390 Condominiums - New Developments - aptsandlofts.com

Every unit comes with outdoor space and storage, which was a good deal.

However, I'm not sure what the rent in this area is going for...
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Old 04-02-2012, 04:43 PM
 
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Interesting.
How about DUMBO?
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Old 04-02-2012, 05:04 PM
 
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Originally Posted by OleSchoolFool View Post
Interesting.
How about DUMBO?
Under $400K for a condo is probably going to be a challenge in DUMBO.
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Old 04-02-2012, 05:38 PM
 
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Toll Brothers - 205 Water (http://www.tollbrothers.com/NY/205_Water# - broken link)

upper 300s
Is Dumbo good for investment though?

Last edited by OleSchoolFool; 04-02-2012 at 05:49 PM..
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Old 04-02-2012, 07:48 PM
 
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DUMBO is very expensive and more expensive area than many neighborhoods in NYC...including UES and Chelsea. The cheapest unit in 205 was studio at 404k? but that's gone now. I believe it's in contract or sold already.

Dumbo's Home Prices are Fourth Highest in New York City - Metropolis - WSJ

Also there is no 1bedroom condo unit at 300k in DUMBO for condo and you won't see it. You won't see 1bed condo in DUMBO for 400k or less for that matter. If there was, many people would've snapped it quickly paying in cash. If you are serious about buying a property in NYC/NJ metro for investment. Get to know streeteasy, brownstoner, njmls, and similar websites very well so you know what's up on prices and get a feel for it yourself.

Otherwise, your best chances are working with a broker.
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Old 04-02-2012, 09:36 PM
 
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How about Hoboken and downtown Jersey City?
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Old 04-02-2012, 11:27 PM
 
Location: Queens, NY
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Why buy a condo when you can buy a house in Sunnyside and rent multiple apartments?
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Old 04-03-2012, 07:45 AM
 
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Originally Posted by Max11USA View Post
Why buy a condo when you can buy a house in Sunnyside and rent multiple apartments?
for 400k?
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Old 04-03-2012, 05:11 PM
 
Location: Manhattan
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So you are looking for real estate investment counselling HERE?
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