Investing in real estate in Brooklyn, now is a great opportunity for landlords. Real estate prices are a total of 10% lower than than they were in the last two years. In northern Brooklyn market is still price. There are foreclosure and short sale opportunities right now, like many good opportunities to buy commercial real estate too. Brooklyn is an affordable option in Manhattan. In fact, it is called the New Manhattan. Since the transport system is perfectly designed for travelers who have a job in Manhattan, many workers and families take advantage of lower rents and prices of apartments in Brooklyn. Brooklyn is a community and a melting pot of many nationalities. Fine restaurants have sprung up in many neighborhoods, including Brooklyn Heights, Park Slope, Boerum Hill, Carroll Gardens and Cobble Hill. Investing in Brooklyn real estate right now is a smart choice. Landlord can score big with some great discounts on property right now.
Rezoning and regrowth
Brooklyn is the third largest central business district, after Midtown and Downtown Manhattan. Bounded by Tillary Street to the north, Ashland Place in the east, Atlantic Center and Schermerhorn Street in the south, and Court Street to the west, you will find a high concentration of large office buildings, regional trade, housing and academic and cultural institutions.
Because of a comprehensive development plan that is taking place involving the rezoning and urban renewal, many new luxury condominium development have been built and there are a number of entrepreneurs who have moved into the area. For example, Dumbo (Down Under Manhattan Bridge Overpass) is part of Brooklyn, whose warehouses have become home to artists and musicians. It is considered by many to be another Soho. Beautiful waterfront luxury condos offer great value, and some of the best municipal water views.
Latest
rezoning projects that have been adopted are:
Latest
rezoning projects that have been adopted are:
urban renewal Brooklyn makes a great place to invest at the right time. Sellers are motivated and it's buyer's market, the landlord investors should seize the opportunity and invest in rental properties. Areas like Bushwick and East New York is experiencing a record number of foreclosures. There are a number of short sale opportunities. Now that the federal government's financial rescue plan approved on 3 October 2008, the bank will be in a better financial position and be more likely to approve a short sale to get a list of his books.
tax incentives-Reasons to Invest
If you are a commercial landlord, selling point to attract tenants to move to Brooklyn is that rents are still affordable and their tenants can take advantage of many tax benefits and energy savings the State of New York provides enterprise. State of New York's Empire Zone program offers tax incentives to attract new businesses in New York State and enable existing businesses to expand and create more jobs. Federal Renovation Committee also offers tax incentives that employers can use. New York also offers financial incentives to assist with the location, new facility construction, expansion of existing facilities or modernize existing operations. New York State's electric and gas utilities offer discounted rates for companies that build new facilities, lease the vacant space, relocate the benefits of alternative energy sources, move or expand into areas that are designated as economically distressed, and to move or expand to areas that are under municipal infrastructure. Brooklyn population continues to grow and businesses expand and create new jobs created, there will always be a need for more housing.
Other tax incentives that landlords are using the10-year rate of decrease in property taxes available to offset increased assessments due to improvements in the business and commercial property, and the fact that New York does not impose a tax on personal property, whether tangible or intangible .