ニューヨーク不動産投資ガイド

Real estate is global. Many factors, from global to local, affect current prices, future capital value, and current rental income. As well as global and regional factors to consider, each country has its own income, real estate, and capital gains tax regulations. They also have their own purchase, financing, and sales costs. These costs have a direct effect on cap rate, net cash flow, leverage, and future profits.

それぞれの国には都市がある。それぞれの都市には、不動産投資家（国内投資家も海外投資家も）にとってメリットとデメリットがある。地域や国の要素を考慮に入れ、さらに都市レベルまで掘り下げることで、投資家は賢明な判断と最良の選択をすることができるようになり、上記の7つの理由を最大限に生かすことができるようになる。

Neighborhood Overview to NYC Real Estate Investors

New York City is a hub for real estate investment, with a diverse range of neighborhoods offering unique opportunities for investors. From the trendy boutiques of SoHo to the historic brownstones of Brooklyn Heights, each neighborhood has its own character and charm. As a real estate investor, it’s essential to understand the nuances of each neighborhood to make informed investment decisions.

SoHo, known for its artistic vibe and high-end shopping, attracts affluent tenants looking for luxury living spaces. On the other hand, Brooklyn Heights offers a more residential feel with its picturesque streets and historic homes, appealing to families and professionals seeking a quieter lifestyle. Neighborhoods like Williamsburg and Greenwich Village are popular among young professionals and students due to their vibrant nightlife and cultural scenes.

Understanding the unique attributes of each neighborhood helps investors target the right tenant demographics and maximize their returns. Whether you’re looking for high-end condos, family-friendly homes, or trendy apartments, NYC’s diverse neighborhoods provide a wealth of investment opportunities.

Understanding NYC Real Estate Market

The NYC real estate market is a complex and dynamic entity, influenced by a broad range of factors, including economic trends, demographic shifts, and government policies. To navigate this market successfully, investors need to stay up-to-date on the latest market trends and investment strategies.

Market Trends

The NYC real estate market is experiencing a shift towards more affordable housing options, driven by government initiatives and changing consumer preferences. This trend is opening up new opportunities for investors who can provide quality housing at competitive prices.

The rise of technology companies in NYC is driving demand for office space, particularly in neighborhoods like Hudson Yards and the Financial District. These areas are becoming hotspots for tech firms, creating a ripple effect on the local real estate market.

Additionally, the city’s growing population of young professionals is fueling demand for luxury rentals and condos in trendy neighborhoods like Williamsburg and Greenwich Village. These areas offer a blend of modern amenities and vibrant lifestyles, making them attractive to high-earning tenants.

Investment Strategies

Private equity firms are increasingly investing in NYC real estate, attracted by the city’s stable and growing economy. These firms often focus on large-scale developments and high-value properties, leveraging their financial strength to secure prime assets.

Hedge funds are also active in the NYC real estate market, using strategies like distressed debt and opportunistic investing to generate returns. These funds often target undervalued properties or those in need of redevelopment, aiming to capitalize on market inefficiencies.

Individual investors can benefit from working with experienced managing directors and investment managers who have a deep understanding of the NYC real estate market. These professionals provide valuable insights and guidance, helping investors navigate the complexities of the market and make informed decisions.

Investment Opportunities in NYC

Residential Properties

Residential properties in NYC offer a range of investment opportunities, from luxury condos in Manhattan to affordable rentals in the outer boroughs. Investors can benefit from working with experienced property managers and support services to maximize returns and minimize risk.

Market research is essential to identifying the best investment opportunities in NYC. By analyzing neighborhood trends, demographic shifts, and economic indicators, investors can make data-driven decisions that enhance their investment outcomes.

Investor relations are critical in NYC real estate, where building relationships with local stakeholders and community groups can help investors navigate complex regulatory environments. Engaging with the community and understanding local dynamics can provide a competitive edge.

Data management is also essential in NYC real estate. Investors need to stay on top of market trends and regulatory changes to make informed investment decisions. Utilizing advanced data analytics and management tools can provide valuable insights and streamline the investment process.

By understanding the nuances of the NYC real estate market and staying up-to-date on the latest market trends and investment strategies, investors can capitalize on the many opportunities available in this vibrant and dynamic city. Whether you’re a seasoned investor or just starting out, NYC real estate offers a broad range of investment opportunities that can help you achieve your financial goals.

Neighborhood Overview to NYC Real Estate Private Equity Investors

The right location is critical to ultimate success. In our article “An Analysis of the Best Cities to Invest in Rental Properties in 2019” you will see a detailed analysis of the subject. In summary, the International Monetary Fund studied 57 economies and divided them into three categories as far as real estate investment is concerned. We linked this study to UBS Wealth Management’s most recent report on 20 individual cities. It is clear that some of the world’s cities, such as Hong Kong, Toronto, and London are in what UBS calls “bubble-risk” territory. Others are listed as over-valued, fairly-valued, and undervalued.

Our focus as realtors is on New York City, particularly Manhattan and its neighborhoods. We also, however, have information on Downtown Miami as well as general tips for investing in Miami luxury real estate.

ニューヨークで投資物件を購入する場合、立地が重要である。投資物件に適した立地であることに加え、適切な物件そのものを選ぶことで、上記の7つの理由すべてを実現することができる。各都市には地域があり、それらの地域は大なり小なり価格上昇をもたらす。また、それぞれの地域は、特定の賃貸市場タイプにアピールする。そのようなタイプとは、例えば以下のようなものである：

• 仕事場に近く、社会生活や家族のライフスタイルの目標にも合致する物件を所有するよりも賃貸することを好む専門職。

• Wealthy individuals who want an occasional pied-à-terre for business visits or vacation property for longer occupancy, so their family can make the most of the building’s and area’s social, dining, and shopping amenities.

• 若い家族を持つ人々は、適切な立地に適切な家を借りることを好むか、あるいは借りなければならない。

• 地元のカレッジ、大学、私立学校、アカデミーに通う学生。

Each of these four rental-market examples will help the investor to determine which location to choose and which property type to choose. Neighborhoods with institutions of higher education can attract students and faculty, making them prime locations for investment. All of these markets tend to see high occupancy rates at high rental prices. They, therefore, generate high yield, good cash flow, and good property price appreciation.

Once investors choose the property’s location and the property type, the next decision is about the right building. There are two sides to this decision; the investor’s side and the tenant’s side. Get them both right, and the result is investment success.

The Investor's Side of Financial Markets

ここでも、決定には基本的な目標が組み込まれている。簡単で実際的な言葉で言えば、決断は以下のようなことに基づいている：

• 規則や規定によって、許容可能な賃貸料やリース料が設定されているか。生活協同組合は、最低期間賃貸できないような規則を設けることができる。協同組合はまた、入居希望者に面接を行い、承認することを要求する。

• Are there any city or community regs that may limit how much rent can be charged or how many (or how few) days in a year the property house each tenant?

• その物件はどのくらいで貸せるようになるのか？未完成の物件を素晴らしい価格で購入し、将来の価格上昇を最大化し、当初の家賃収入を逃す価値があるのか、それとも入居可能な物件を購入し、当面の利回りを最大化し、購入費用等を相殺すべきなのか？

• If the property is complete, what is its condition? A professional inspection by a qualified home inspector, preferably working to ASHI Standards (American Society of Home Inspectors) to make sure everything that should be inspected is inspected. Safety or functionality problems should be addressed in the purchase agreement and handled prior to closing.

テナント側

入居者は5つの基準で家を選ぶ傾向がある。それらは、威信、プライバシー、スペース、眺望、利便性に集約される。"賃貸のPPSVC"入居者によっては、1つ以上の要素を他の要素よりも重視する人もいるので、これらの要素の重要度に順番はない。これらの要素について説明しよう：

• 名声は非常に重要である。ホテルのスイートルームよりも自宅の方が良いという理由で、時折市内で部屋を探している裕福なテナントは、物件の名声とその立地を重要視するかもしれない。学生や専門職の家族はそうではないかもしれない。

• プライバシーは多くの人にとって重要である。有名人や幼い子供のいる家族はプライバシーを求めるかもしれない。

• 子供がいるテナントやホームオフィスが必要なテナントにとってはスペースが重要だが、大学やオフィスに近いことを望む学生や独身テナントにとってはそうでもない。

• 眺望は多くの人にとって重要である。窓から外を眺めたときに広々と感じられるような高さの集合住宅を購入すると、低層階でレンガの壁が見える住戸よりも価格にプレミアがつくことが多い。例えば、セントラルパークの眺望は、高い購入価格を要求し、高い利回りを生み出し、利益を清算する時には高い売却価格をもたらす。

眺望があまり良くないと、購入費用のプレミアムをカバーするだけの高い利回りが得られないかもしれないが、レバレッジを効かせることで、その問題は軽減される。眺望の良い住戸は、特に家賃の支払いをほとんど選ばない場合、眺望の悪い住戸よりも常に入居率が高くなる。

• 多くのテナントにとって、利便性は重要である。オフィスや大学、子供がいる場合は遊び場、交通の便が良い場所などに近いことを望んでいる。利便性は強力な動機付けとなり、多くの場合、貸主にとっては入居率の向上につながる。

オーナー側とテナント側の両方を考慮することで、適切なビルを選択し、キャッシュフローと利益を最大化することが容易になる。

1031タックス・ディファード・エクスチェンジ（米国内国歳入法第1031条にちなんで命名）は、投資家が不動産を売却し、その売却代金をすべて使って、売却される不動産にかかるキャピタルゲイン税を支払うことなく、承認された期間内に、同価値以上の「現物」不動産を1つ以上購入することを可能にするものである。キャピタルゲイン税は、それ以上投資することなく、最終的に清算するまで繰り延べられる。

したがって、1031ルールは、利益を政府に渡すことなく、すべての利益を次の不動産（または複数の不動産）の購入に使用できるため、投資収益率を最大化する優れた方法である。

Investors can use this benefit to consolidate or diversify current investments, make the most of an emerging market, make better returns elsewhere, or reset the depreciation clock. Brownstones held in New York can be "exchanged" for a Miami luxury condo, for example. Vacant land or a commercial building held in Miami can be "exchanged" for other investment real estate in New York. The options are many, the rules governing exchanges are tight, and the transactions must be handled by an approved intermediary.

不動産業者やプロパティ・マネージャーの適切なアドバイスに頼ることで、投資家はリターンを最大化することができる。これが次のセクションにつながる。

「不動産のキャピタルゲイン税

Two Approaches to Leverage in Market Research

The first, and obvious, is to take out a mortgage loan on the property. Foreign investors learn there are well-established and willing American lenders when looking for real estate loans. Domestic investors often put down 20% and borrow the rest. Overseas investors often make a 50% down payment.

頭金は、株式市場での利益確定や、価格上昇と1031Exchangeのメリットを最大限に活用するための既存物件の売却から得られるかもしれない。償却費はもちろん税金控除の対象となり、借主は家賃でローン費用をまかなう。

The second most common way is to use the equity in a current property to use as the down payment. The two ways of doing this are to take out a mortgage loan using the property’s equity for security. The second way is to use a home equity line of credit (HELOC.) The main difference is that the line of credit can be used for anything and interest is only paid on credit used. It, therefore, enables a more subtle approach to look for the right investment property, and to cover the purchase costs and those of any renovation, etc.

An obvious benefit of financing the purchase is that price appreciation of the property is being funded by the down payment and the rental income. A $600,000 down payment on a $3 million property which sees a price appreciation of 5% ($150,000) means the appreciation represents a 25% return on the down payment amount. Technical assistance programs can help investors navigate the complexities of leveraging their investments.

認定投資家向けの融資は、ビジネス上理にかなっている。

適切な不動産管理会社を利用すれば、入居者候補に物件を売り込み、入居者を審査し、賃貸契約が有効な間は管理会社が管理するため、入居率は最大になる。そのような活動を外部に委託するという決断は、より良いテナントとより高い入居率を生み出すことが多い。どちらも高い利回りにつながる。

The third element of getting the right return is to put the sale in the hands of a skilled and successful real estate agent who will market it correctly. The agent will help to negotiate the best price the market will bear, on the best terms for the current owner, and within the owner’s preferred timescale.

Put those three elements together, including a 1031 Exchange if appropriate, and the property will generate the highest return on the investment. That’s what making the best real estate investment decision is all about.

Managing investment properties effectively takes time, skill, and experience. There are two kinds of property management, “light property management” and “full property management.” Light property management is a route many clients take because it takes care of the initial, critical elements, and can begin as soon as the chosen investment property is under contract.

Light Property Management Support Services

This service manages all the steps beginning with finding the right tenant. The investment property is marketed to prospective tenants, the tenant is screened, the lease prepared, applications to condo boards are supported, and any necessary repairs, etc. are arranged. Many property management companies operate as small businesses, providing personalized services to investors. Light property management excludes handling tenant or landlord monies but does include terminating and renewing leases.

フル・プロパティ・マネジメント

This service includes handling rents and paying bills, etc. with full accounting services and financial reporting. It also takes care of tenant evictions should that ever be necessary. Full property management services often include the preparation of quarterly reports to keep investors informed about their property's performance.

マンハッタン・マイアミ不動産管理サービス