Thursday, January 8, 2015
Two days ago, I created a chart showing the investment performance of New York apartments vs key stock indices. Business Insider picked it up, had an article about it and called it, "One Chart Explains Why Billionaires Are Investing In New York Apartments."
Yes, you'll have to click on the link to read the chart and article.
Sunday, January 4, 2015
New York Times calls 2015 The Year of the Condo as twice as many new condominium units are expected to hit the market. This gives buyers more choices and some pricing relief as competition among developers increases.
Thursday, January 1, 2015
My most memorable interview of 2014. Barely made it, had to run from Lexington to Fifth Ave because roads closed for Obama. Heart rate still up during the segment.
Friday, December 26, 2014
Thursday, December 18, 2014
When buying property in New York, a buyer's broker will identify the good deals, negotiate the best price and coordinate the whole purchase process. The buyer's broker represents the interest of the buyer and the fee is already built into the property price. Yes, this is a good deal.
Wednesday, December 10, 2014
New York has been ranked America's #1 most livable city. This is based on 26 measures including job prospects, transportation, walkability and even availability of takeout food. Check out the article in the New York Post, "New York Ranked Most Livable City".
Monday, December 8, 2014
Manhattan, New York property has always been a destination for foreign buyers because of the associated brand recognition and for the price stability. Top reasons cited by our foreign investor clients buying apartments in Manhattan include investment diversification, stable appreciation, brand recognition and limited supply.
The media likes to talk about $10 million to $50 million Manhattan apartments because of sensationalism. In reality, 85 percent of transactions in Manhattan are for apartments priced less than $5 million. Still, the median Manhattan condominium price at $1.3 million is about seven times (7x) the median US house price. The average price per square foot of a Manhattan condo was $1,500 in 3Q'2014.