Monday, May 19, 2025

Financial and Analytical Approach when Evaluating Properties in Manhattan, New York

 
When we are representing investor clients and buyer clients, we are very analytical in terms of our approach in looking at properties. What that means is that we look at things from a numbers' perspective, which has to do with my finance background. When we meet clients for the first time, we usually share with them one page full of numbers that has all the metrics - price, price per square foot, rental potential, rent per square foot, rental yield, upsides and downsides of each of the condo units that we're looking at. These metrics are very important because it tells you what are the strong demand buildings vs the weak demand buildings. These are things that are going to affect the appreciation of the client's investment. This is one way on how we add value. Visit our website to learn more: https://www.castle-avenue.com/

Tuesday, May 13, 2025

Strategy: Investing in an ultra luxury building for above market appreciation

The objective of investing in ultra luxury buildings is usually to park funds and ride appreciation. Rental income is a low priority. The buyer client wants the best of Manhattan and feels the appreciation will exceed what he/she may get elsewhere.  There is a rental market for ultra luxury buildings but since rental price is so much higher, the renter pool is small.

Read the full article here: Strategy: Investing in an ultra luxury building for above market appreciation

Buying a vacation or second home in Manhattan

 
We represent a lot of clients who are buying a condo in Manhattan as a vacation home or as a second home. Usually, these are clients who visit Manhattan several times a year, or they may have grown up in Manhattan. But instead of staying at a hotel each time, having their own place makes it a lot more personal. When we recommend properties to clients, we do it similar to how we would advise investor clients. Visit our website to learn more: https://www.castle-avenue.com/

Wednesday, April 30, 2025

Strategy: Investing in a full-service, high demand building

When the investment objective is rental income, a full service, high demand building is important. Full service means amenities such as building staff (concierge, doormen, porters), residents’ lounge, roof deck, fitness center. Tenants are attracted to amenities and rents are higher as well.

There are two ways to achieving this as described in this article: Strategy: Investing in a full-service, high demand building

Wednesday, April 23, 2025

Manhattan property investment performance

Manhattan property investment performance from 1999 to the most recent Q1’2025 shows that price per square foot increased from $480 to $2,130 during the 26-year period.

The average appreciation per year during this period (1999 to 2025) is about 6 percent, which is a very healthy return. Since property is often purchased with leverage, a 6 percent appreciation can be leveraged to twice or 3X that return, depending on the equity invested in the property and financing used.


Read the full article here: Manhattan property investment performance

Friday, April 18, 2025

Manhattan Property Market Update

Key points of this Manhattan Property Market Update


Sales volume:  Condo sales volume was 47.6 percent higher than prior year.  This is positive as we are still experiencing limited inventory and high mortgage rates.


Cash buyers:  The market share of cash buyers in Q1’2025 was at 58 percent, higher than the historical average of 50 percent.


Price per sqft and median price:  In the condo market, price per sqft is at $2,130 while median price at $1.725 million.  After a few years of slowdown, price per sqft is now close to 2017’s peak of $2,149.


Read the full article here: Manhattan Property Market Update

Wednesday, April 16, 2025

Three of the four billionaire condos in Manhattan. We were negotiating on one recently but that deal didn't happen.

Visit our website to learn more: https://www.castle-avenue.com/