Chinese Real Estate Agent specialize in Central Park NY condos
Many of our Chinese buyers from Hong Kong and China prefer to buy a condo near the iconic Central Park New York. The immediate neighborhood near Central Park would be Upper East side or Upper West Side or Central Park South.
Chinese buyers should also understand that almost 85% of the housing inventory are cooperatives in Manhattan New York, majority of the buildings near Central park are cooperatives. This means the cooperative board of directors have the right to select the right buyers for the building and become a part of the building.
Buying into a cooperative, the buyers should be ready to present and disclose all personal and financial information. These documents such as tax return, bank statements, stock statement, other assets and everything and anything you may have own. The cooperative will want to review all of buyers’ assets before granting an interview. Buyers will most likely have to be either US Greencard holder or permanent resident of United States.
Cooperatives are not good for rental investment purpose as most will prefer to be owner occupant.
Chinese buyers many of times look into condo buildings only. There are limited condo inventory near Central park. All the pricing near Central Park depends on if you want to have Central Park view or not.
Condos near Central Park on the Upper East Side Pricing:
Basic pricing start in the $2,500 sq/ft range and go up from there depending on the unit. Central Park facing units will be commanding a premium along with certain Fifth Avenue and Park Avenue buildings that will also be priced at a premium. For the fully renovated, higher floor, optimum views, outdoor space you could be looking at a range of $4,000 sq/ft+ for certain apartments that have truly unique characteristics.
The average price per sq ft for those apartments was approximately $3,700 sq/ft. The price range was from $3,850,000 to over $23,500,000.
With these types of sales and the range being so wide it’s extremely important to recognize the most relative comparable’s often found in the same building if you have any, the same type of view, size and condition.
If you are a Chinese buyer and interested in knowing more about what is available for a condominium near Central Park, call us today at (646)644-6929 so we can discuss your interest and find the suitable Condominium near Central park.