Wednesday, September 25, 2019

One in Four New Luxury Apartments in Manhattan Are Unsold

Summary of the New York Times article that reports one in four luxury new apartments in Manhattan are unsold.  This amounts to about 4,000 units out of the 16,000 new condo units built since 2013.  The major oversupply areas are Billionaire's Row and Hudson Yards.

Friday, September 6, 2019

Property investment in New York

Property investment in New York is a recent article I wrote about why New York is the #1 ranked city globally for foreign investment.  The article references the Wealth Report and summarizes price points of different apartment sizes in New York, the pricing correction of 2017 to 2019, where to find property listings and why New York is good for investor buyers.

Rules for foreigners buying New York property

Rules for foreigners investing in New York property summarizes the key points for potential foreign investors.  

Points covered include FIRPTA withholding tax, whether there is extra stamp duty and estate tax.  A great overview before doing the deep dive.

Tuesday, August 13, 2019

How to Invest in Manhattan Property

How to invest in Manhattan property for foreign buyers.  

Article covers whether foreigners can buy Manhattan property, transparency of property inventory, prices and a brief comparison of new development vs resale.  

Friday, August 9, 2019

Manhattan Q2 Condo Prices

According to the Miller Samuel/Elliman Report, Q2 sales volume of Manhattan condos increased by 26 percent, the highest increase in three years.
Median price of a Manhattan condo at $1.70 million was up 3 percent.  It was the first year over year increase in seven quarters.
Price per square foot was $2,077, down 1.8 percent from a year ago.  Average price was $2.83 million, down 4.5 percent vs year ago.

Read full article:  Manhattan Q2 Condo Prices

Saturday, July 27, 2019

Closed on foreign client's new launch condo in Gramercy

We just closed on our foreign client's new launch condo last week.  Booked at pre-construction stage about two years ago.  The building, 200 E 21 St, is targeting LEED Gold certification.  Luxury finishings, hardwood floors, marble bathroom.  

Read about it at:  Manhattan New Launch Condo Investment For Foreign Client.

Friday, July 5, 2019

Foreign Buyers' Guide to Investing in Manhattan Condos

Our foreign buyer's guide to investing in Manhattan condos.  Includes an overview, how the process works, financing options and even deal examples.  This has been a top ranked page on Google since I wrote it many years ago.  

Read article:  Foreign Buyer's Guide to Investing in Manhattan Condos