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Contacts

Wire Consulting New York The Cipriani Building 25 Broadway, 9th Floor
10004 New York, NY USA

tel : 001 347 446 4937
fax : 001 347 446 4937

For information in Italy

Wire Consulting Via Pescheria Vecchia, 1
30174 Venezia VE Italia

tel : 0039 041 27 50 993
fax : 0039 041 300 11 82

For information in UK

Wire Consulting Londra

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Investing in New York

There are few major cities that hold the same special appeal that the Big Apple does. This international point of reference is the ideal place to invest in property. For those considering investing in New York’s thriving real estate market, it helps to get clued up on the city’s five boroughs and learn more about the character of each specific area. The first step is to recognize the distinct qualities these individual municipalities have to offer and turn to a specialized agency for expert guidance. Investments made from a distance have become a growing phenomenon in recent years, as key information can easily be exchanged between interested parties using the powerful resources made possible through the internet. The best research opportunities are frequently being utilized via the wide range of communication platforms now available online.

The role of the real estate agency

The purchases and leases all take place exclusively through authorized agencies of the Federal Government. Those having direct access to a specific database are constantly monitored by the municipality, a sort of virtual archive of properties on the market, which suggests the best tailored solutions to meet the diverse demands of U.S. citizens and foreign entrepreneurs alike.

Buy and tax return

In New York, the property is marked by the release of a title, which is a document with the sole purpose of proving ownership. It is produced at the time of the deed, detailing past history, and possibly attached to further documentation concerning the architecture, site plan or house rules of the property. Real estate transactions can be made either by locals or foreigners, but it is essential to know that for some buildings, those with tax issues may not be able to proceed any further until certain obligations are met. In these cases it is necessary to get up to date with tax returns as quickly as possible.

City planning

New York City comprises of five boroughs; Manhattan, Brooklyn, Queens, the Bronx and Staten Island. Once you have identified the unique characteristics of these individual districts, it will be easier to focus on their prospects, considering economic aspects along with other requirements. Listed below is a brief description of the most popular areas for New York property investors:

1. Manhattan is divided into:
- Upper West / East Side: extend along the east and west sides of Central Park, with these areas mainly populated by young families and wealthy liberals in retirement. While the Upper West Side is bounded by Riverside Park and the Hudson River, with luxurious buildings alternating with rows of skyscrapers, the Upper East Side is distinguished by elegant brownstone homes.

- Lower West / East Side: both are very culturally alive and edgy, highly rated and home to radical individualists, but at the same time, they differ primarily in the type of rooms offered and the architecture of the buildings. Here, the fashion hipster and punk rocker blend with the elegance of high society.

- Midtown / Times Square: the heart of Manhattan and the area most tourists are interested in seeing for themselves – as its landmarks feature prominently in the long tradition of American film. Broadway, with its giant-sized billboards, towering skyscrapers and iconic yellow taxis is always a hive of activity and has no equal in the entire metropolitan area.

2. Brooklyn: as the liveliest district in New York, Brooklyn is rich when it comes to new buildings and the area boasts a plethora of bars, restaurants and parks. Brooklyn would be the perfect place to open a boutique, studio, record company or photography workshop.

3. Queens: covering the largest area of the five boroughs and the most diverse in terms of ethnicity, Queens also has the second largest and most diversified economy. The neighborhood ranges from high-density apartments to large free-standing homes and new developments have made the area increasingly popular with property investors.