IDX information is provided exclusively for consumers’ personal, non-commercial use and it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.Īll information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. From Great Listings Listings under $2M in iconic New York City buildings include former home of William Randolph Hearst.From Future New York Ahead of massive new Kips Bay science center, take a look at residential buildings changing the face of the neighborhood.From Future New York Top Manhattan Sales: 109 East 79th Street records $54.2M in sales.From Great Listings Massive Upper East Side duplex in NYC Landmark takes top contract with $23.9M ask.From Great Listings Notable Sales: Theater power couple buys Upper East Side co-op Alexander Skarsgård takes a loss on East Village apartment.From Future New York 10 new residential developments poised to take Manhattan by storm.From Great Listings Price Cuts: High-floor home at The Platinum now 20% off Pythian penthouse gets $2M haircut.From Great Listings Price Cuts: Nolita penthouse has four private terraces and $8 million reduction.If you have any doubts, do a credit check. You don't want a situation, for example, where a contractor is taking your deposit to fund a previous job where they ran out of money. A builder's financial history should also be considered. ![]() Key traits of good builders include experience, timeliness and knowledge of your industry.įor example, if your building must meet food-industry standards, your builder should have expertise in that sector. You should be looking for quality builders who have a good reputation and are responsive to your needs. That’s why it’s often a good idea to hire an operational efficiency expert to advise you on how to optimize your layout. Whether it's an existing building or one you’re renovating, layout has a major impact on operational efficiency. You should also resist the temptation to sway lenders with overly optimistic forecasts-payment problems down the line can boost costs and reduce your manoeuvring room. Other factors such as what percentage of the purchase a financial institution is willing to finance are equally, if not more, important. Don’t forget that while the interest rate is important, it’s far from the whole story. It's also a good idea to shop around for the best financing package. All of this will play a big role in determining whether you get the commercial real estate loan you want. Getting approved for commercial real estate financing isn’t easy.Bankers will want to see high-quality financial statements and evidence that the profits you generate are being retained by your company. Other issues include succession planning, transition financing and decisions about how assets will be broken up when the business is sold. Your accountant will be able to tell you, for instance, whether the purchase should be considered a corporate or personal transaction. That’s why it’s particularly important to consult an accountant who knows the ins and outs of commercial real estate deals. Tax implications can also be complex in real estate transactions. ![]() Make sure your budget includes all hidden costs. Consult an accountantĪffordability is a big issue in commercial real estate today, so before you go to a bank, you should work with an accountant to determine your budget. The supply of skilled labour in the area also needs to be considered. Each local market has its own tax rates, land inventory and environmental issues. Growth & Transition Capital financing solutionsīefore making a decision on what to buy, entrepreneurs should pay heed to where they're buying. Kauffman Fellows Program Partial Scholarship Venture Capital Catalyst Initiative (VCCI) Industrial, Clean and Energy Technology (ICE) Venture Fund
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |