432 Park Ave is one of the prominent luxury condominiums in New York City. It’s located in prime real estate location Midtown East between East 56th & 5th Streets. The building stands at 1,396 ft (425.5 m) and overlooks Central Park. It is the tallest residential building in the world and the 3rd tallest building in the United States.
Some of the amenities you will find at 432 Park ave includes a Bike Room, Driveway, Garage, Fitness Room, Pool, Sauna, Steam Room, Housekeeping. Valet. Playroom. Lounge. Billiards Room. Rooftop Deck. Private Storage. Wine Cellar. Business Center. Cinema Room
The bedrooms are super spacious and have gorgeous Views of Central Park.
The bathrooms are luxurious, have free standing soaking tub and oversized windows.
The living rooms at 432 Park Ave are grandiose and filled with sunlight.
Please contact us for all of your real estate needs in New York City.
New York City has long been known as The Big Apple. It has equally been known as The Melting Pot due to the many differing cultures which tend to divide NYC into sections of ethnicities. It is therefore not surprising to find a cluster of amenities that reflect the interests and beliefs of the ethnic groups within each section. In the case of schools along York Avenue NYC, data analysis shows why there are so many high quality pre-schools and private schools clustered there.
School buses lined up every morning along York Avenue.
Location, Location, Location, So the Saying Goes!
In order to understand why so many great schools along York Avenue NYC exist, one needs to understand some of the demographics of the East Side of NYC, and specifically of York Avenue.
According to Wikipedia:
“York Avenue and Sutton Place are the names of a relatively short north-south thoroughfare in the Yorkville, Lenox Hill, and Sutton Place neighborhoods of the East Side of Manhattan, in New York City. York Avenue runs from 59th to 91st Streets through eastern Lenox Hill and Yorkville on the Upper East Side….The street is considered among the city’s most affluent, and both portions are known for upscale apartments, much like the rest of the Upper East Side.” In an Upper East Side report, Wikipedia stated some statistics which also reflect on why there are so many great pre-schools and private schools along York Avenue NYC: “…the neighborhood contains the greatest concentration of individual wealth in Manhattan. As of 2011,the median household income for the Upper East Side was $117,903. As of 2011, 60.6% of adults (25+) had earned a bachelor’s degree or higher.”
Every morning is greeted with a gaggle of strollers along York Avenue.
Schools along York Avenue NYC Are in a Relatively Safe, Affluent and Well-Educated Neighborhood Young families with children who settle on the Upper East Side of Manhattan tend to be:
Highly educated professionals, who put a high priority on quality education for their children.
Parents who both work as professionals outside the home and send their young children to pre-schools.
Affluent, and therefore can afford to send their children to pre-schools and private schools.
Often of an ethnic group that puts top priority on beginning education and appreciation of the arts at an early age.
Want their children to be educated in a safe environment with other children who share a similar social background.
So when you question why there are so many of the best schools along York Avenue NYC, consider the above data and statistics and you will have your answer.
There’s currently a real estate boom going on in New York City. The world’s wealthiest multi-millionaire and billionaire investors are buying up New York’s most luxurious real estate as fast as developers can build to meet the demand. The apartments that these foreign investors are buying are so high end that they are among the most sought-after and expensive pieces of real estate in the world and are called stash pads NYC.
Do Stash Pads NYC Only Offer a Negative?
Over the last 2-3 years, a lot has been written about these stash pads NYC. Most of these articles have been very negative concerning the results and consequences of so much ultra-high end real estate development and the escalating prices of apartments brought about by such prime real estate.
Wealthy native New Yorkers are even finding it hard to afford, or obtain, the apartments of their choice. Even if they qualify, but need a mortgage, their choices are limited because so many foreign investors are putting down cash.
Foreign investors in our real estate are looking at it as a way to park their money and get a very good return on their investment. Often times a real estate investment in NYC will also fly under the radar so it becomes a very attractive shelter for their wealth, something that Swiss bank accounts used to be prior to new regulations.
The negatives are multiple to be sure. More and more native New Yorkers are being driven out of the city they love because of these foreign investors who can afford to pay exorbitant prices for these stash pads NYC.
The Positive Flip Side of Stash Pad Demand
Preston Pesek, creator of SPACIOUS™, stated:
“I suggest that who actually owns the real estate makes only a marginal difference. The ownership exists on paper, but you can’t take the dirt and the buildings out of the city. They are the city, and assuming the owners are interested in preserving the value of their assets, they provide enormous intrinsic value to the city’s inhabitants, regardless of the contractual ownership or whatever form of monetization may occur around foreign or domestic ownership…. Foreign buyers of opulent homes (as opposed to commercial property) can certainly affect the affordability of housing for local residents, but this is a double edged sword, as such inflation increases the value of incumbent local owners as well. Furthermore, as long as those owners are paying taxes, the locals who live wherever there are absentee tax payers may benefit from local public services that someone else helps pay for. This type of gentrification will always be controversial, but as long as the locals take steps to implement intelligent tax policy around foreign or absentee property ownership, it can be a positive trend for everyone.”
I couldn’t have said it better myself! There really is a positive side to stash pads NYC. As the city ages, the demands for high end apartments by foreign investors is allowing real estate developers to improve the city’s infrastructures, which benefits everyone. More services are required by wealthy investors who know they need to pay adequately for those services. When the economy benefits, everyone benefits – rich and poor alike. That spells win, win!
Getting approved for good and affordable student housing NYC can be a challenge. This is because most landlords in NYC require the following:
a job earning 40 times the monthly rent
substantial savings
tax returns
pay stubs
letter of employment etc.
FICO of 700 or better
So how does a student qualify for off campus student housing NYC?
Off Campus Student Housing NYC: Proof of Enrollment
It’s not good enough just to declare that you are “a student”. You will have to prove it. This proof comes in the following forms:
Letter of acceptance and/or enrollment
Current photo ID issued by the school
It helps to be enrolled in a recognized school. The more prestigious the school the better. Students at NYU Law will be viewed differently than students from the Twice Happiness Beauty School.
Off Campus Student Housing NYC: Money In The Bank
If the student has substantial savings in the form of liquid assets this could help to qualify. Having an amount equivalent to the yearly rent plus living expenses is recommended. Be prepared to show current statements of all bank accounts.
Off Campus Student Housing NYC: Scholarship
Students with full scholarships including living expenses have an excellent chance of getting approved for student housing NYC. All documented proof of such a scholarship award must be presented with the application.
Off Campus Student Housing NYC: Guarantor
The usual way that students get approved for an apartment is by presenting a guarantor. The guarantor is usually a parent or other family member, but not necessarily. Guarantors from the tri-State area (New York, New Jersey, Connecticut) are preferred. Foreign guarantors are usually not considered.
The guarantor is usually required to earn 80 times the monthly rent and should provide the following paperwork:
Completed guarantor application
Letter of Employment
CPA Letter if self employed
Bank statements-savings and checking
Retirement account statements
Last two pay stubs
Most recent tax return
Most recent W2 or 1099
Off Campus Student Housing NYC: Prepayment of Rent and Extra Security
For foreign students who do not have a local guarantor, the primary option for renting off campus student housing NYC is to prepay rent and extra security deposit. This can amount to six months or more worth of rent at the outset.
Prepayment of rent. The rent will be prepaid before the rent is actually due. The landlord for student housing NYC might ask for the first few months to be prepaid or the last few months (of a typical 12 month lease), or a combination of the two.
Extra Security Deposit. The security deposit is usually held by the landlord in an escrow account as surety to cover damages and/or unpaid rent. The security deposit must be returned to the student at the end of the lease term if there has been no damage to the apartment and if all the rent has been paid. The lease should specify this. Security deposit is usually not to be used to pay the rent.
In Conclusion
New York City offers many options for off campus student housing NYC. It is not difficult to qualify if the correct steps are taken. Preparation is the key to securing student housing NYC.
Top Secrets For Non U.S. Residents To Secure A New Future Through This Foreign Investor Visa Program
Welcome Foreign Investors
The EB-5 Visa Program offers a gateway to a green card for qualified foreign investor visa petitioners.
“The program reached capacity for the first time in August 2014 when the State Department stopped issuing EB-5 visas until the beginning of the next fiscal year, October 2014.” http://travel.state.gov/content/dam/visas/Statistics/Immigrant-Statistics.
The Immigrant Investor Program (“EB-5”) was created by Congress in 1990 and is administered by the U.S. Citizens and Immigration Services (“USCIS”) to provide certain foreign investors with a potential avenue to lawful permanent residency in the United States through a foreign investor visa. To qualify, investors must demonstrate that their investments provide capital for economic development and job creation.
The EB-5 program awards residence visas to foreign investors and their families who make a capital investment of at least $500,000 in a new commercial enterprise in the U.S.
In recent years in New York City some major Real Estate developers have raised capital from foreign investors through the EB-5 foreign investor visa program to finance massive projects. The program has been hugely successful in offering an alternative to traditional sources of financing.
TWO PATHWAYS TO THE EB-5 FOREIGN INVESTOR VISA: DIRECT INVESTMENT OR THROUGH AN EB-5 REGIONAL CENTER
The investor profile will determine the best option for the EB-5 investor.
THE DIRECT INVESTOR: INDIVIDUAL EB-5
The Individual EB-5 investor has profit maximization as the primary goal and intends to start and manage their own business in the U.S.. The investment is the driving force behind his or her wanting to come to the U.S. The standards for the individual EB-5 petition are very restrictive and the direct investor is solely responsible for adhering to USCIS EB-5 program regulations.
MAIN REQUIREMENTS OF QUALIFYING INVESTMENT:
Investment must be in a New Commercial Enterprise.
Business must create or preserve at least 10 full-time jobs.
Investment of a minimum of $1,000,000 in the U.S.
THE REGIONAL CENTER INVESTOR
The Regional Center EB-5 Investor has immigration as a primary goal rather than profit maximization. The intent is not to start and manage a business but rather to use a structured investment program in the Regional Center EB-5.
Regional Centers receive designation from USCIS to administer EB-5 investment projects. Regional Centers are responsible for adhering to USCIS EB-5 program regulations relieving the investor from meeting program requirements.
Many of the complications associated with Individual EB-5 petitions are eliminated for the investor through a designated Regional Center.
THE DIRECT EMPLOYMENT REQUIREMENT
The Regional Center is allowed to create indirect employment rather than the requisite “direct employment creation” by an individual investor. Regional Centers can claim “indirect jobs” that result from the large investment of combined capital. An individual EB-5 petition requires proof of “full-time employment” as direct employees of ten workers. The Regional Center can qualify based upon indirect employment creation generated in the community through the regional center investment utilizing economic models of job creation methodologies for determining indirect job creation.
CAPITAL INVESTMENT REQUIREMENTS: MINIMUM INVESTMENT AMOUNT
For the Individual Investor, the minimum qualifying investment in the U.S. is $1 million. Most of the approved Regional Centers have been approved as “targeted employment area” investments, thus qualifying for the reduced $500,000 investment requirement.
The requirements for the investor to prove the lawful source of his or her investment funds is the same for individual and regional center EB-5 petitions. Investment capital cannot be borrowed.
“Capital means cash, equipment, inventory, other tangible property, cash equivalents and indebtedness secured by assets owned by the alien entrepreneur, provided that the alien entrepreneur is personally and primarily liable and that the assets of the new commercial enterprise upon which the petition is based are not used to secure any of the indebtedness. All capital shall be valued at fair-market value in United States dollars. Assets acquired, directly or indirectly, by unlawful means (such as criminal activities) shall not be considered capital for the purposes of section 203(b)(5) of the Act. ” http://www.uscis.gov/eb-5″
THE EB-5 INVESTOR MUST BE “ENGAGED IN A NEW COMMERCIAL ENTERPRISE”
EB-5 regulations require the investor to be involved in the management or policy making of the enterprise as opposed to maintaining a “purely passive role”. An Individual EB-5 petitioner must prove this on a case by case basis for a foreign investor visa.
For the EB-5 Regional Center investor the regulation deems a limited partnership where the investor is considered sufficiently engaged in the management of the enterprise without the necessity of the investor committing to any specific amount of time or engaging in day-to-day management. Most Regional Centers are limited partnerships and if the investor is a limited partner the “engagement” requirement is satisfied for a foreign investor visa through the EB-5 program.
Because the standards for Individual EB-5 petitions for a foreign investor visa are so restrictive, the number of EB-5 Regional Center petitions has risen markedly and now exceeds 90% of the total number of EB-5 petitions filed.
CAVEAT EMPTOR (AS ALWAYS)
The fact that a business is designated as a regional center by USCIS does not guarantee the legitimacy of The EB-5 Regional Center nor the investments represented by the center.
The USCIS, the SEC, nor any other government agency has necessarily vetted and approved the investments offered by the EB-5 Regional Center.
If the investment through the EB-5 Regional Center turns out to be fraudulent in nature, the petitioner for the foreign investor visa may lose both capital invested and the opportunity of obtaining lawful permanent residency in the United States.
BEWARE OF “GUARANTEES”
“Death and taxes.” (Benjamin Franklin)– the only guarantees the foreign investor visa petitioner can count on.
TYPICAL GUARANTEES OFFERED BY THE SCAMMERS:
Guaranteed Returns. Money invested through the EB-5 Foreign Investor Visa program must be “at risk”. If there is a guaranteed return, risk is negated and therefore the investment does not qualify. A competent and trustworthy EB-5 Regional Center offering such a risk free investment for a foreign investor visa petition should be viewed with suspicion.
Guaranteed Permanent Residency. There is no guarantee that the USCIS will grant a petitioner for a foreign investor visa a conditional visa (obtained through the I-526 petition) or the removal of conditions on lawful permanent residency (obtained through the I-485 Adjustment of Status). USCIS reviews each petition carefully and denies those that do not meet the eligibility requirements for a foreign investor visa. Guarantees of approval offered by an EB-5 Regional Center are a sign of fraud.
CONCLUSION
The EB-5 Immigrant Investor Program offers a pathway for foreign investors to obtain a foreign investor visa and lawful permanent residency for the foreign investor and his/her family. Whether the foreign investor has permanent residency in the U.S. as a primary goal or his/her intention is to start and run a business in the U.S., the EB-5 Program provides a way.
The foreign investor must carefully consider the various options available in deciding which path to choose leading to the foreign investor visa. The EB-5 petitioner would be well advised by a team of professionals including: an EB-5 Immigration Attorney, a Securities Law Attorney, an Economist, a Business Plan Writer and an Investment Real Estate Broker.
As with any investment opportunity, due diligence is paramount.
Metropolis Apartments is a full service New York Real Estate Brokerage. We offer a wide selection of no fee apartments NYC.
For over 18 years we have offered one of the largest selections of NO FEE APARTMENTS NYC rentals in New York City.
NO FEE APARTMENTS NYC DEFINED
We often hear from our clients, “Don’t show me any no fee buildings.”
Well, every building in New York is technically a no fee building. This is because, by law, landlords cannot charge a broker fee. If a would be tenant can find out about a vacancy, gain access to it, know who to contact to make application, have the application considered and approved by the landlord–then the apartment can be rented as a no fee apartment in NYC .
No Fee Apartments NYC: Find out about a vacancy
Prior to the advent of the internet, it was virtually impossible for renters to find out about vacant apartments. The brokers had all the information. Only a few landlords advertised in the newspapers. Without a connection or a lot of luck there was little chance of finding no fee apartments NYC.
These days a lot of landlords have websites and advertise on line, but not all. There are many landlords who do not want to deal directly with the public to take applications. These properties are listed with brokers, either as open listings or as exclusive listings.
Broker Exclusive Listings
A broker exclusive listing is an apartment listed exclusively with one broker. Most likely a broker fee will be charged and it will probably be the traditional 15% of the yearly rent. This is not a source for no fee apartments NYC.
Open Listings
These are apartments that are listed with no particular broker and therefore are considered to be “open” listings. Open listings might be listed with a short list of brokers or with virtually all brokers. Some of these landlords advertise their properties and therefore can be no fee apartments NYC. This is where it can get tricky as far as the broker fee is concerned.
Some apartment hunters believe that buildings that advertise no fee apartments NYC are necessarily no broker fee.
If a tenant rents an open listing apartment shown by a broker, then that broker will expect to be paid a broker fee. Often the broker fee in this case will be less than the full 15% of the yearly rent.
The fact that the tenant could have known about the apartment and rented from the owner (no fee) does not negate the broker fee.
Most brokers have their clients sign a “Broker Fee Agreement” which states this fact and these agreements are usually upheld in Civil Court.
OP Listings (Owner Paid)
An OP Listing can be either an exclusive or open listing where the landlord pays the broker fee. This is the case when a broker advertises an apartment as a NO FEE APARTMENTS NYC.
The tenant rents through a broker but pays no broker fee.
This is the best of all worlds for everyone (tenant, landlord and broker) as the tenant enjoys the services of the broker for free. The broker earns a commission. The landlord gets a tenant. Everyone wins!
LARGE SELECTION OF NO FEE APARTMENTS NYC
Metropolis Apartments is a full service Real Estate Brokerage in Manhattan with over 18 years of experience throughout New York City. We offer one of the largest selections of No Fee Apartments NYC in New York City.
METROPOLIS APARTMENTS is a Full Service
Real Estate Brokerage offering all
the traditional services of a
Buyer, Seller and Rental Broker.
Our clients enjoy the synergistic
confluence of experience and technology.
COME DREAM WITH US.
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59 St-Columbus Circle (0.21 miles)
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