Thursday, December 18, 2014

Why a Buyer's Broker?

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 is America's Most Livable City.

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 investment performance

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.

Thursday, December 4, 2014

Contributed to Real Estate Weekly's article on proposed pied a terre tax

Real Estate Industry Unanimous In Derision Of Proposed Pied A Terre Tax

By Real Estate Weekly

12:04 PM, DECEMBER 3, 2014 
By Dan Orlando

A year after Bill de Blasio won the mayoral election with a promise of reducing inequality, New York City is caught in a heated debate over the benefits of luxury pied-a-terres.

Tuesday, November 18, 2014

The $130 million Pier 55 park at W 13 St on the Hudson

Barry Diller and his wife Diane von Furstenberg are helping New York build a $130 million island oasis pier on W 13 St on the Hudson River.

The 2.7 acre park with rise between 15 feet to 71 feet above water and will sit on 341 stilts.  A 700 seat amphitheater in the park will host events and performances udner the direction of producer Scott Rudin.

NewYork Post article, "Pier 55 Gets $130 million bid to Create Island Oasis."

Monday, November 17, 2014

Interviewed by DNAinfo on Current Foreign Buyer Activity in New York

NYC's Pool Of Foreign Real Estate Buyers Show Signs Of Drying Up.

By Amy Zimmer on November 12, 2014 7:42am | Updated on November 14, 2014 4:38pm

MANHATTAN — Some of Manhattan's top brokers have noticed a slowdown in foreign buyers in the last couple of months as the strength of the dollar rose along with prices of high-end condos.
New development — which often targets the moneyed class of global buyers — saw prices hit an average of $1,807 per square foot — a nearly 29 percent jump from the year before, according to a recent report from Douglas Elliman.

Wednesday, November 5, 2014

Manhattan 3Q Condo Update

Don't be fooled by appearances.  The alley in picture is the site of the future ultra chic Beekman Hotel and luxury 5 Beekman Street condos.  

Check out the 3Q Manhattan condo update: