Parents Looking to Purchase a Manhattan Apartment for their Children
By Ricardo Mello, Manhattan & Miami Real Estate Agent
(Manhattan Miami Real Estate)
Very few twenty-year-olds have the hard-earned financial capital to afford a million dollar piece of real estate in Manhattan. However, there are wealthy parents who purchase Manhattan apartments for their children as an investment. Every twenty-year-old has the desire to live in an area of town that they choose. So the ones who have access to capital have influence. Their thumb is on a pulse that is dictated by rising fads, not market prices. This is when investors need to start listening. Where are things happening? How can a parent tap into a trendy area, keep a child happy, and make a cool profit in the process? Let’s look at movement in the neighborhoods that entice the young and hip in New York, determine if today’s cool sets tomorrow’s high-end, and gauge if there’s overlooked in...
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