“Buying and Renting for internationals in New York City”
The New York City real estate market is one of the most complex and fast-moving marketplaces in the world. Putting down roots in prime Manhattan, the epicenter of activity for the international mover and shaker was a non- negotiable. That has shifted over the last few years with buyers discovering outer boroughs within a close commuting proximity. Brooklyn is a great alternative to bright lights big city with more diverse options such as a German preschool & kindergarten in Park Slope. Deciding on your neighborhood is only the first step in the purchasing process. The financing and facilitating a deal are quite different to what we are used to in Europe. Instead of a simple “one sales market” that is traditional to overseas cities, NYC has a great number of active and ever-changing submarkets divided by neighborhood, price point and property types.
Additionally, New York is the #1 rental city in the United States. Apartments move fast and you must be prepared to secure the apartment you fell in love with ASAP before someone snatches it away. Landlords require a long list of documents, which as a first-time expat you simply can’t provide. This used to be solved with additional payments to the landlord, but the new 2019 Rental Law makes the application process for internationals much more challenging.
Presented by: BOLD New York
Speaker: Thomas Szoeke