Whether it’s a restaurant, an office space, a retail store, or any other property, if you’re looking to buy a commercial space in Manhattan, NY, you’re going to want to work with a reputable buyer’s real estate agent. Salem Advisory, LLC is a leading Midtown, NY commercial real estate buying agency that has been assisting the investors of New York County for more than 20 years. Our team of fully licensed purchasing commercial real estate agents is well-versed in all types of commercial properties and will assist you through the entire process. We’re committed to providing customized services that meet the needs and exceed the expectations of our clients. If you’re interested in making a real estate buy and you want to be certain you have the smoothest experience and have the best results possible, get in touch with the team at Salem Advisory, LLC today!
3 Tips to Help You Buy Commercial Space in Manhattan, NY
While the decision to buy commercial property is certainly a good one, for many new investors, getting started is often a challenge. If you’ve decided that you’d like to buy commercial property near you and you’re new to the process, there’s no doubt that you have a long list of concerns and questions. That’s understandable, as there are a lot of factors that need to be addressed and things that need to be done, which can make the process quite intimidating. Don’t let your worries hold you back. Here’s a look at three simple steps that you can use to get started as a Midtown, NY commercial real estate buying investor.
Figure Out How Much You Can Invest
First and foremost, you’re going to want to get your finances in order and determine how much you can afford to spend. How much money do you currently have available? Are you going to use cash to make the purchase? Will you need financing? Are you hoping that you’ll be able to qualify for a loan so that you can increase the amount of money you have to invest? Will you be asking a friend, a family member, or someone else to lend you the money?
If you are planning on taking out a loan, figure out how much money you have to use as a down payment. Next, get in touch with a few different reputable financial institutions to find out what kind of borrowing options are available to you. Call, email, or sit down with a representative from each institution. Let them know what your intentions are and how much money you can put down, and find out what types of loans you would qualify for and how much you would be eligible to finance. Ask pertinent questions that relate to the loan. Examples of key questions include:
Investigate the Commercial Real Estate Market
Once you know how much money you have to invest, you’re going to want to research the market. Gaining insight into the commercial real estate market in New York County is crucial for your overall success. There are several different types of commercial properties, including:
In order to determine which type of commercial real estate you should invest in, assess the New York County market to see what types of businesses are doing well in the region. If you purchase a property that’s in an industry that isn’t doing well, your investment may not be as profitable as you want it to be. You can attempt to do the research on your own by searching for terms like “buy commercial property near me” or “commercial space investment properties in New York County” and look for information about the market overall, as well as the individual sectors. Alternatively, you could seek the guidance of a professional purchasing commercial real estate agent.
Find a Reputable Midtown, NY Commercial Property For Saleing Agent
After you’ve conducted your research and have a firm understanding of the sector you’re interested in and know what type of property you’d like to invest in, you’ll want to get in touch with a licensed, experienced professional buyer’s real estate agent who specializes in New York County. A reputable agent will be able to assist you through the remaining steps that are involved in the process of purchasing commercial real estate, including finding listings, arranging walk-throughs, reviewing the zoning requirements in Manhattan, NY, submitting offers, and making negotiations, for example. Before you choose an agent, however, do you’re due diligence and research a few different contenders. Consider the type of experience the agents have, how long they’ve been assisting commercial real estate buyers, what types of properties they have the most knowledge about, and how and what kind of clients they tend to serve.
Looking to Buy Commercial Space in Manhattan, NY?
If you’re interested in investing in a commercial property in New York County, when you’re looking for a buyer’s real estate agent, be sure to include Salem Advisory, LLC on your list of contenders. With more than 20 years of experience and a proven track record of success, our licensed professionals have helped countless investors through the process of Midtown, NY commercial real estate buying. To schedule a consultation, give us a call at 212-517-1077 or submit an online contact form at https://www.salemadvisory.com today!