SSGI is a young company working in the real estate field in the States. They are dynamic, clever and they want to be known for their 360° service, suitable for every kind of customer.
Among the enchanting Siena hills, one can find a timeless Resort, where wellness For how long have you been working in the building field?
Siso Group (SSGI) was founded in New York City by Touraj Naghied and Aviv Siso.
SSGI is made of 12 of the best brokers on the scene; they provide a complete service in their field: branding, marketing, selling, buying and leasing commercial and residential real estates. They spend 2 fabulous years serving successfully lots of European customers who use to invest their money in Manhattan.
How stable is the US real estate market?
The US apartment-building market in Manhattan has kept staying still and really strong in the latest years, and we expect the same for the future, even though the real estate decreased in the rest of the USA. This is because we don’t have a lot of room on the island, so that many people want to invest their money in Manhattan because of the weakness of the US Dollar. Anyway the whole New York City is still a good place to put money in. A total amount of 50 million tourists is expected in 2008 (and this number is probably going to increase in 2009).
Can you explain us what’s the difference between cities like New York and Miami?
New York can’t be compared to any other city in the US or in the entire world. I have much respect for he other beautiful cities in the world, but New York City is still the focus point for finance, arts and fashion from all over the world; its districts are being constantly renewed and I would say refreshed. Manhattan’s lower area is right now being renovated and revitalized, also compromised by the new Freedom tower and the Goldman Sach’s tower, without mentioning lots of other buildings in under construction.
Which way are usually set the prices in the different areas?
The prices for the new (or renovated) apartment buildings in Manhattan fluctuate between 800$ and 7,000$ per square feet. The financial district offers great investments and opportunity at the moment. Luxury flats in the newest buildings can be purchased now departing from 1000$ to 2,500 per square feet.
How much can yield such an investment?
We can’t tell the future yet, but, just to give an example, any unit purchased in the financial district 3 years ago, now is twice the price of that time.
What about the operative expenses?
Even though the monthly manteinance fees can be different between one building and another, it mostly depends on the size of the unit purchased.
Usually it’s around 1$ per square feet per month.
What about taxes? How much are they at the moment of the stipulation? And what happens afterwards?
Usually you can have two different kinds of taxes: the Transfer Tax (around 1,84%) and the Mansion Tax (around 1%), and the monthly tax of the building industry, which depends on the value of the property. Lots of buildings turned into residential ones, in the lower area of Manhattan, offer the despondency tax, which was created in New York City and it’s different for each building. The most generous use to offer the 0% for the first 9 years.

Lara Gallenda