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Monthly Archives: March 2015

Who can manage my Three Lincoln Center Condo for me?

Many of our out of town condo owners ask: Who can help me rent out and manage my Three Lincoln Center condo once I own it? This is a good question, we work with many out of town and oversea investor buyers that also asked the similar question because many condo owners are not Manhattan New York based and would like a full range of service. When we sell an unit in 160 West 66th Street or any other Manhattan Condo, we not only assist our clients sell, buy, invest their Manhattan New York condos, we also find qualified tenants for our out of town owners on their investment property.

First step, when the buyers had become new condo owners at Three Lincoln Center Condo. We begin market immediately for rental, we answer to rental requests and appointment, qualifying the perspective tenant to ensure they are financially qualified and suitable for the condo. Manhattan New York rental brokerage marketing fee is 15% of the first year rent, though depending on the location of the condo, rental price, rental market condition and other key factors, we can discuss in details.

In terms of managing of your 3 Lincoln Center condo unit, depending on your needs, commonly, there are two options. Option one would be the owners manage the tenant and the condo by themselves, this is easy to do especially with Manhattan New York condo, there is a building staff and maintenance department a phone call or email away. Option two, we can recommend the property management in terms of being client’s contact person here in Manhattan New York, handling questions and inquiries and etc. There will be a fee in involved in this, as based on each clients’ need, we can make the recommendation accordingly.

If you are a current Three Lincoln Center Condo owner at 160 West 66th Street, please call us to discuss details if you are looking to find new tenants or seek property management. We can be reach at (917)837-8869.

3 Lincoln Center Rental Prices

Rental Prices for 3 Lincoln Center as of April 2015

Keep in mind that rental prices can be seasonal, as demand and supply shift in the winter months and the high season is typically late spring and summer when prices peak.

With a building like 3 Lincoln Center, that is 60 floors tall and with different layouts and apartment renovations vary you will see the rental values correspond accordingly. Basically the better the renovation, view and exposure, the higher the price.

So with that in mind these values have to be looked at in ranges and with an open mind.

Studio: $3,000/month-3,500/month

One Bedroom: $4500/month-$5,500/month

Two Bedroom: $7,500/month - $9,500/month

As all Manhattan New York condo rentals, there is a board application required for renting in 3 Lincoln Center Condo.

Lincoln Center Upper West Side condo buildings

Lincoln Center Upper West Side Manhattan New York

There are many dynamic Manhattan New York neighborhoods, the Upper West is one of Manhattan’s most quintessential and classic Manhattan neighborhood communities.

The neighborhood starts from Central Park to the Hudson River and from 59th Street to 110th Street, the Upper West Side is made up of various and unique sections, including Columbus Circle, Lincoln Square, Central Park West, and the Riverside Drive and West End Avenue.

The Lincoln Center is the largest performing arts area in the entire United States. The development of the Columbus Circle area including the condominium buildings such as Time Warner Center, Trump International Hotel and Tower and 15 Central Park West have paved the way for more expansion in the Riverside Park South area.

The Lincoln Center Upper West Side is considered to be one of the most sought after neighborhoods to live in Manhattan because of both its high quality of life, close distance to Central and Riverside Parks, access to multiple subway and bus routes, along with a rich tradition of the arts and culinary choice.

Below are a list of wonderful condo buildings in Lincoln Center Upper West Side neighborhood:

One Lincoln Plaza – 20 West 64th Street New York NY 10023

Alexandria 201 West 72nd Street New York NY 10023

Dorchester Tower Condominium-155 West 68th Street New York NY 10023

The Coronado-155 West 70th Street New York NY 10023

The Grand Millennium-1965 Broadway New York NY 10023

Millennium Tower-101 West 67th Street New York NY 10023

The Park Millennium-111 West 67th Street New York NY 10023

45 west 67th Street New York NY 10023

The Harrison-205 West 76th Street New York NY 10024

Chesterfield-186 West 80th Street New York NY 10024

Three Lincoln Center condo 166 West 66th Street 10023

 

Qualifying Tenants for a Manhattan NY investment condo

We work with many out of town and international condo owners who purchased a New York condo with us and ask us to secure a qualifying tenant for their investment condo. 

As part of our service to our condo owners, we qualify extensively and ensure the perspective tenant have an excellent financial security and good standing US credit history.

To rent an NYC condo unit, the application process can be very different than the rest of the country or world, here are some guidelines for investment condo owners and potential tenants to know what is the rental process:

Here is the check list for the perspective tenant:

  1. Financial verification documents and letter, including:
    • Letter of employment and salary verification (include start date if not yet employed)
    • Bank account numbers (checking and savings), credit card numbers
    • Contact information of previous landlords
    • Contact information of accountant and attorney, if applicable
    • Personal and business references
    • Tax returns most recent last two-three years
    • Pay stubs
    • Expected bonus (verification from employer)
    • Additional sources of income with verification
    • Personal identification with photograph – driver’s license or passport
  2. If relocating from a different state or country, prepare the necessary funds before coming to New York. Landlords will not accept personal or out-of-state checks. They require certified funds. Anyone renting or relocating must:
    • Establish a New York bank account. If this is not possible, we require all is pay upfront.
    • Bring funds to cover the broker’s fees if tenant’s employer company is not paying covering that expense. Majority of the time, Brokerage fees are paid by the tenant in New York City. These fees are due upon signing of the lease unless your employer is paying the real estate commission for which they will be billed directly.
    • Bring funds to cover a Credit Check: $50-$100+, can be credit card, it varies.
    • Bring funds to cover possible move-in/move-out fees. This vary from each condo buildings.

If you are a condo owner at 3 Lincoln Center and need to find the perfect tenant for you. Contact us today at (917)837-8869 and we can discuss in details.

Do I sell Furniture together with my 3 Lincoln Center Condo?

This is a very common asked question by our condo sellers. Many of the website photos of the Three Lincoln Center Condos at 160 West 66th Street or other Manhattan condos will have furniture and fully furnished units. However, the furniture DO NOT convey in a New York condo sale unless it is specifically mentioned in the property description or discussed prior to the negotiation.

Very rarely, buyers may want to purchase the owners' personal furniture, there is often a disconnect between what the buyers are willing to pay and the emotional attachment the owners may have for the piece.

If there is an option to purchase the furniture there will often be TWO SEPARATE prices, one with the furniture and one without. The spread between the two prices, may or may not reflect the actual replacement costs of the furniture and will include a convenience premium of being able to move right into the apartment without spending the time to furnish it.

Many of our condo sellers in Manhattan New York will hire staging services to ensure property is in best presentation possible. This is with help of a team of interior designers and decorators, when every square inch of the apartment has been well thought out, it gives the condo owners the chance to maximize the investment and sell the condo top dollar.

If you prefer to sell your furniture together with the apartment at Three Lincoln Center Condo, we can discuss it in detail to best protect your interest and market your condo creatively.

Give us a call today (917)837-8869 to discuss your Three Lincoln Center Condo.