Sunday, July 5, 2015

3 Highlights Of The Manhattan, New York Property Market in Q2'2015


After a slower first quarter, one which saw prices level off, the second quarter saw a total 180◦, setting a historic, record high for the average sales price for Manhattan apartments, now at a whopping $1.87 million. While there are a number of different key themes from the past 90 days, the overarching one is, quite simply, the obvious lack of inventory on the market. Those subthemes, however, include:

  • # 1:  Stalled Inventory Growth – The consistent lack of inventory, despite last quarter’s slight uptick, is what produced these record-setting, headline-making prices this past quarter. The lack of inventory and strong demand makes it a total seller’s market and as long as that demand remains, whether it’s coming from foreign or domestic buyers, those prices will continue to remain high.

Tuesday, May 26, 2015

Profiled by Manhattan Residential as a "Buyer's Broker Extraordinaire"


Friday, May 1, 2015

Luxury one bedroom investment at The Harrison 205 W 76 St

Apartment 603 is an elegant, over-sized one bedroom on the 6th floor with quiet, north exposure in the Upper West Side's most desirable building, the Robert A.M Stern-designed, Harrison. 

Price:  $1.65m
Size 826 sf, common charge $994, tax $426
Rent:  $5,000
Annual rental return:  2.6%
Annual appreciation:  10%
Return on investment with 50% downpayment:  21%

Saturday, March 14, 2015

Bad Idea To Buy At Overseas Property Shows

Buyers of property in top markets like New York, London, Paris, Sydney come from all over the world.  As people get more financially savvy and outlook becomes more global, they no longer limit potential investment to within their home country.  



As such, developers are marketing their property abroad to potential foreign buyers.  One of the most common ways is through property shows held at foreign countries.  For the foreign buyer, here are 5 reasons why buying overseas property at these property shows is a bad idea.

Tuesday, February 24, 2015

Interview with El Financiero Bloomberg TV on foreign buyers investing in New York


Had the pleasure of speaking to Karla Palomo of Bloomberg for the Mexico/Latin America Bloomberg TV on foreigners investing in New York property.

Thursday, January 8, 2015

Why Billionaires Are Investing In New York Apartments


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

2015 is Year Of The Condo


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.