Review of Condo Purchase for Dollar Rental Income Downtown Manhattan - 'One Manhattan Square'

Our client bought a condo during the COVID-19 pandemic at One Manhattan Square, taking advantage of tax benefits.

He made a down payment of approximately 10%, or $96,000 (KRW 124.8 million).

His unit is at One Manhattan Square, located in downtown Manhattan with tax benefits for 20 years until 2039. This made it suitable for investment with significant advantages, including the current promotion offering a 2% interest rate for the first three years of the purchase.

One Manhattan Square is a luxurious 80-story condo in Lower Manhattan built by top New York developer Extell. With 20 years of tax benefits, it provides an 85% tax-saving effect compared to other condos.

The building provides vast views of Manhattan Bridge, Brooklyn Bridge, and the East River.

It is located within a large-scale area on the Lower East Side, with a $5 billion waterfront development, luxury restaurants, cafes, and retail stores.

From the building, it is a 5-minute walk to the F, J, M, Z and 4 New York City Subway lines. Ferry service is available from South Street. It is 13 minutes to New York University by subway and 20 minutes to Midtown Manhattan and the Financial District.