How to Buy a Luxury Condo in Manhattan

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Manhattan is widely acknowledged to have one of the most competitive and intimidating real estate markets in the world. But if you’ve got your heart set on buying a luxury condo in the city, don’t lose hope: the process can be straightforward if you get organized and do your homework. Here are three steps to get you started in your search for a Manhattan luxury condo.

Identify the right neighborhood

As Manhattan’s economic demographics have shifted, more neighborhoods offer luxury housing than ever before. Different neighborhoods will offer you a different character, so spend some time researching and visiting to determine which borough suits you best. One neighborhood where you’ll find an excellent selection of luxury condos for sale in NYC is the Upper East Side. In this classic Manhattan neighborhood, the construction of new ambitious luxury apartment buildings, such as 252 East 57th, has been generating buzz and excitement.

Maintain mutual trust with your broker

Once you’ve selected a broker, treat that relationship with the seriousness it deserves. According to City Realty, it’s best to work exclusively with a single broker and not to give them any reason to suspect that a transaction won’t occur. Maintaining good faith with your broker increases the odds that they will help you buy the perfect apartment.

Plan for closing costs

One thing you want to be sure to account for is the inevitable closing costs. Don’t let this aspect of buying a condo sneak up on you, no matter how far off it might feel now. Closing costs for New York buyers are often higher than elsewhere, so be sure to calculate them into your budget from the beginning.

Enjoy strolling through the colorful neighborhoods of Manhattan as part of your research. Then follow these steps, and your search for a condo for sale in NYC should go smoothly.

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