You’re considering investing in commercial real estate in Manhattan. But, your skeptical that you can keep up with the high stakes investors making the front page of The Daily News. Don’t be discouraged. The commercial real estate market in Manhattan is full of investment properties within a vast array of price ranges. You will be surprised at the kinds of deals that can be found if you look hard enough.
Premier Manhattan Investment Properties
The key to finding properties fitting within your investment budget is to speak with a knowledgeable broker who is very familiar with the Manhattan market. A broker in the know will be able to point you toward properties that are not getting as much attention and help you find deals in unorthodox places. If you are willing to expend some elbow grease and do a little bit of extra work, you can even take advantage of properties that have been marked down for past damage.
One of the most important factors impacting investment properties and their listing prices is location. Whenever a large scale office building sells or a new major development begins, the news media is sure to give it plenty of fanfare. Meanwhile, perfectly reasonable office spaces and retail locations around the edge of town are not receiving any coverage. If you’re worried about staying on budget, start small with one of these office complexes off the beaten path. You may be surprised at how many companies prefer a quiet office building away from the traffic.
Naturally, the condition of the available properties in Manhattan will largely influence your price. If you are willing to put a little handy work into the space and clean up any messes left by previous owners and tenants, you may be able to score an awesome deal. Since many tenants want to build out their space to fit their needs precisely, you can focus on making sure the infrastructure of the property is in good shape. Afterward, you can worry less about the aesthetic details of the interior.
Interestingly enough, many of the less expensive investment properties in Manhattan are for sale by owner or have been listed for such a long time that they have fallen to the bottom of search results. You may have to dig a little deeper to locate these properties, but it is possible to find commercial real estate well under $100,000 if you look in the right place. You may have to start small and work your way up, but there is certainly a place for investors of any price range in Manhattan.
Premier Investment Properties in Manhattan
Darell Handler and the team at Handler Real Estate Organization have been dealing with investment properties in Manhattan for several decades. The Handler Team has the full story on where to look and how to buy on a budget in Manhattan. To learn more, call (212) 398-1888 or click the icon below to schedule a consultation today.