Archive for

Upper East Side Apartments: Why Are They So Popular?

The Upper East Side (UES) is home to some of the most exclusive boutiques, shops, salons, restaurants and bars. The occupants of Upper East Side apartments enjoy a great balance of vibrancy and tranquility.

The area between FDR Drive and York Avenue is known as Hospital Row and offers high-end health care facilities. The famous Sloan-Kettering Cancer Center, the Rockefeller University and the New York Presbyterian Hospital are located in this area. The place is also famous for some of the most renowned public schools.

The UES lies between 59th Street, 96th Street, the East River and the Central Park. According to the 2000 census, nearly 207,543 people resided in the area. Further, out of the total population, nearly 21% were foreign born. The UES has one of lowest crime rates in New York City.

Reasons to Rent Upper East Side Apartments

More and more visitors to NYC are choosing to stay in Upper East Side apartments over hotels, as they offer more privacy and value for money. You can find several affordable apartments in the East 80s and 90s. First Avenue, Second Avenue, Third Avenue and York Avenue are popular among young professionals and middle-class families. Apartments in these areas offer a family-oriented and upscale residential neighborhood. Some of the other reasons for the popularity of Upper East Side rentals are:

Central Park

A major appeal is the proximity to Central Park. You can enjoy the scenic view of the park from your backyard. The park encompasses an area of 843 acres and runs from 59th to 110th Street. It is an ideal destination to take a break from your busy life. The park is an oasis of green and consists of ponds, athletic fields, playgrounds, jogging trails, a Boathouse, the Wollman ice-skating rink and the Tisch Children’s Zoo. During the summers, several concerts, Shakespearean plays and other events are performed at Delacorte Theater.

Museums

Some of the world’s most famous museums are located in the UES. The stretch from Fifth Avenue is known as ‘Museum Mile’. These cultural institutions are a feast for the eyes. Some of the museums situated in the area are the Metropolitan Museum of Art, the Whitney Museum of American Art, the Guggenheim Museum, the Asia Society, the Goethe-Institute New York, the Frick Collection and the Jewish Museum.

Living in an Upper East Side apartment ensures that you find all your necessities right around the corner. To get the best deals in UES rentals, visit http://www.stonehengenyc.com. With affordable services offered by experienced professionals, Stonehenge Partners will make sure that you find just the right rental for your needs.

Smart Investments Deserve Smart Finance – The Investment Property Loan Portfolio

In the past decade bricks and mortar have surprisingly been one of the more glamorous forms of investment globally. When compared against the volatility of the stock market between 2000 – 2005, property has delivered excellent returns while securing the investor a prize that is more tangible than stocks. For lengthy periods in the 1980s and 1990s, investors lost the enthusiasm and to some degree lustre for UK property especially when growth performance was measured against technology shares. However when the stock market suffered in 2001 and 2002 UK investors moved to the safety of property and residential and commercial property came back into favour as it is a tangible asset. The investment property loan portfolio considers the investment finance (loan) sourcing for property held within such portfolios.

Some would argue that property has reliably been a smart investment over the long term. However smart finance for strategic property investments and portfolios has not always been readily available to smaller investors. Secured loans and second mortgages have become the mainstay of new finance supporting new property portfolio investments. New residential buy-to-let investments have become very trendy in recent years in support of entrepreneurs building such portfolios. Commercial property as a secondary property investment has also been delivering strong yields and remains a good mix in the investment property portfolio.
Investors continue to switch equity or loan funds into what they now believe is a safe, consistent rewarding sector. Futhermore, many investment funds now boast double if not triple-digit returns consistently over three, five and ten year periods.”

Buying and investing in property is a subjective science but smart investments are derived from smart research into the type of property, location of property, demand for property and calculated return on the asset. Just as important is the source of finance and as stated in the title of this article “Smart investments deserve smart finance”.

A smart investment property loan is one that factors in the key points raised earlier but also considers the short term and long term cost of financing beyond current interest rate charges. When considering the cost of finance (COF) investors should consider the up-front cost of purchasing properties within the portfolio and ensuring there is sufficient equity within the portfolio to absorb challenges to repayments caused through occupancy gaps, unplanned maintenance, interest rate rises and any negative property price changes. Furthermore smart investors should seek flexible finance without expensive sting in the tail exit penalties and plan to swap sources of finance to maximize cost-effectiveness as financial institutions offer promotions.

The strategy of the investment: Most important should be the strategy of the investment. If the loan period for the investment is for a two-year period, then plan for two-years. You can always review after two years and change your strategy. If the investment is for a ten-year period loan, then plan for a ten-year period. You can always review this at the mid-point of 5 years. The key point is to plan to be successful. If you lay out your strategy and cost models and set your realistic goals out from the outset then you will be able to manage the expectations of returns.

Smart use of pensions enabled through recent UK government initiatives with SIPPS may also be a good source of affordable finance. Commercial property can now partially be used as part of retirement planning. Self invested personal pensions can invest in this asset class which brings a number of financial advantages. An example would be where rental income is not taxable when it is paid in to the SIPP and property is not subject to capital gains tax when it is within this structure. Furthermore, it may be possible for a number of SIPP investors to club together and acquire property thereby allowing investors to buy larger properties effectively. This grouping is referred to as a property syndicate whereby individuals have a share of all costs but also returns such as rental income and capital appreciation in proportion to their share of the property.” The risks when forming syndicates are typically lengthier commitments, less flexibility with the investment in terms of moving assets and the big risk of one the SIPP investors dying or differences in the investment strategy.

Investing in Hotel Apartments in New York City at the Lombardy Hotel

Investing in Manhattan real estate has become a must for well-to-do and up-and-coming real estate investors alike. Real estate in Manhattan is holding its value thanks to the year 2012 bringing increased foreign investment, favorable interest rates and inventory declines. A recent industry analysis found that residential property investments in Manhattan are outperforming those in comparable large cities like Los Angeles and San Francisco. Although foreign investment in Manhattan real estate increased this year, comprising nearly 9% of all sales, Americans are investing in Manhattan as well. This year, 7 out of 12 real estate investment purchases will be made by Americans.

In the light of this real estate market, who would turn away the chance to invest in real property that is not only secure but also a piece of Manhattan history? Such thinking certainly motivated buyers of units in the Lombardy Hotel, located at 11 east 56th street in New York City. The Lombardy Hotel’s superb midtown location places it only a few blocks away from famous Manhattan landmarks like Central Park, the theater district, and Fifth Avenue’s designer boutiques. A majority of the suites at the hotel are owned by individuals and rented to tourists. With only 162 rooms and suites spread over 22 floors, Lombardy Hotel feels spacious and decadent. Investors or individuals seeking a Manhattan pied-a-terre look favorably upon the Lombardy Hotel. Twice daily turndown service epitomizes carefree living.

The Lombardy Hotel embodies classic old-world charm and luxury. This should be expected considering its legacy. An edifice constructed in 1926 by newspaper publishing great William Randolph Hearst, the Lombardy Hotel was a gift for Brandon Davies. Davies was a famed silent film actress and Hearst’s lover. The beautiful stone fa├žade of the Lombardy Hotel’s exterior symbolized his reverence for her. Today, the Lombardy’s classic limestone design stands just as proudly against a backdrop of steel. It continues to be a statement building. Inside, the marble laid lobby greets visitors its sprawling mahogany staircase. Classic art pieces and antique mirrors line the lobby walls. Feature-rich, the Lombardy Hotel offers amenities like gym, business center and spa. Those wishing to live or invest in hotel apartments should contact its exclusive broker, Wald Real Estate at the Lombardy Hotel.

Rooms that are owned but not currently occupied can be rented to tourists and short-term guests. A review of the myriad of travel and hotel sites online show guests rating The Lombardy between four and five stars. Those who visit are overwhelmed by the sheer size of rooms and the staff’s astute service. Suites with kitchenettes especially appealed to hotel guests, who can rent these spacious suites at a rate up to 30% less (dependent on the season) than the Manhattan standard hotel rate.

The returns garnered by investors, combined with the subsidized cost of running a hotel in this manner, made The Lombardy Hotel a successful experiment in real estate investing. Other hotels in Manhattan have followed suit. Live-in and owner options are also currently available at such hotels as the Gansevoort, the W, the Carlyle and the Ritz-Carlton.