Saturday, May 5, 2018

Foreign Buyer Guide 2018 Update

A few years ago, I wrote Foreign Buyer Guide To Investing In New York Propertywhich gained a lot of exposure, was widely shared, and resulted in a lot of media interviews.  

As an update, I just wrote Foreign Buyer Guide To New York Property 2018, which covers how  technology has impacted the buying process and the Trump tax law changes.  Hope you find it useful.

Wei Min 

Thursday, September 7, 2017

My favorite Japanese restaurants in New York

By Wei Min Tan

As a New York property agent, bringing clients to nice restaurants is part of the job which I enjoy a lot. This has given me the opportunity to try a lot of restaurants in New York. 

These are two of my favorite Japanese places in New York. Japanese is popular here. In fact, the most expensive restaurant in the U.S., Masa, is a Japanese restaurant in Manhattan.  

Sunday, June 4, 2017

Buying a loft in New York

Owning a loft apartment in New York is having one of the ultimate New York assets. While residential condominiums continue to be built, a true loft apartment is scarce. Supply is limited and New Yorkers love lofts (if they can afford it). This is because lofts are:
(i) Big and spacious
(ii) Have high ceilings and large windows which make the space feel voluminous
(iii) So charming 

Thursday, March 16, 2017

Advice on buying New York property to benefit from the Trump wave

By Wei Min Tan
March 15, 2017

While the last 2 quarters of 2016 saw buyers sitting on the fence and sales volume down, since Trump’s historic win, there has been an increase in sales with Manhattan condos. We focus on buyers of residential condominiums for investment. In Q3 and Q4, there was plenty of time for our clients. Apartments were sitting on the market. But in January alone, we started seeing clients lose deals because of not acting fast enough.

Monday, December 19, 2016

Top 5 mistakes when investing in New York property

Whenever I meet a new buyer client, especially a foreigner wanting to buy an apartment in Manhattan for rental income, the client often has certain pre-conceived ideas.  This is understandable because it is impossible to understand a market from researching on Google from a few thousand miles away.  The pre-conceived ideas are as follows.  Not necessarily good or bad, but without proper advise, they could be costly mistakes.

Assuming popular tourist areas are best for investment

Foreign buyers usually assume Fifth Avenue, Central Park, Times Square, Wall Street are the “good” areas for investment.  This because these are tourist destinations the media associates with New York.  I totally understand and if I were planning on investing in a different city, say London, the only areas I would know are the tourist destinations.  Naturally, I would also associate investment stability with these locations.

Monday, November 14, 2016

Buying opportunities as sales drop 20 percent

 By Wei Min Tan

It’s now official. Consistent with my previous updates about now Manhattan being a buyer’s market, recently published reports show Q3 2016 sales volume down 20 percent.  

The market is especially favorable to cash buyers and this is evidenced by the numerous deals, whether pricing or concessions, we managed to negotiate for buyer clients recently.

Tuesday, October 4, 2016

How investing in New York’s next hottest area provided handsome returns for our clients

By Wei Min Tan

The 16-acre World Trade Center site has been the hottest upcoming development and the pinnacle of Downtown’s revitalization in New York for the past decade.