New York Residence

The housing market in New York City is booming and new construction is the fastest segment of this growth. Condominiums are going up everywhere and are the hottest properties in New York City. New York Residence is at the forefront of the new development market and we have up to the minute listings on new construction as well as literature and access to new developments. Some of the benefits of new construction over traditional condos and co-ops are:

Pre-construction prices of new developments are usually well below secondary market prices making for a great investment opportunity.
The majority of new developments are condominiums so there are few restrictions and less down payment.
There is no board package as you will be an original owner of the apartment.
Most new developments have special tax abatements so your real estate taxes will be considerably less; often up to 10 years
Flipping, or reselling, can be done before closing with the consent of the sponsor. Thus, you are selling the contract of sale and avoid closing.