Saturday, February 27, 2010

Property agent fee in New York

On purchase or sale transactions:
Who pays the property agent fee?  In New York, the seller pays the agent commission or fees which is split between the seller's agent and buyer's agent. This is how it works....

Manhattan townhouse single family price premium

Curbed NY: Manhattan Townhouses and the High Price of Being Single

Great analysis from Jonathan Miller showing price premium of single family Manhattan townhouses vs multifamily townhouses.  Now, the premium likely because many multifamily townhouses are rent stabilized.

Friday, February 26, 2010

New York Property Advice

Chart above shows our way of providing New York property advice to the client.  We act as the broker and provide property advice as well as market related advice.  Further, we will coordinate the other team players for the  buyer client.  Bank that will provide financing, attorney who will handle the property closing, accountant, and as necessary, property manager.  Of course, it is up to the client to engage our suggested professionals.

New York Property ROI Return on Investment

New York property return on investment ROI

What's the expected return on investment (ROI) on Manhattan New York property?  Well it's a forecast and I will not promise buyer clients prices will appreciate by X percent within a certain period of time.  But what I can share is the historical trend of price appreciation.  Graph shows:

China's real estate market surges while New York's struggles

Examples of why China's market is about to pop.  Note per capita income in China is dramatically lower than in New York.
By the Numbers: China's real estate market surges while New York's struggles | The Real Deal | New York Real Estate News

Wednesday, February 24, 2010

New York Property Tips

This article on New York Investment Property Tips focuses on buying an apartment in Manhattan, New York. 

Tip 1:  Condo vs coop

Apartments in New York are divided into condominiums (condos) and co-operatives (co-ops).  When you buy a condo, you are buying real estate and enjoy the benefits that typically come with real estate ownership.  For example, freedom to renovate and freedom to rent out.   New York Property Tips

Average Apartment Price

Graph shows New York (Manhattan) average apartment prices of condos and coops.  The sizes are studio (no bedroom), one bedroom, two bedrooms, three bedrooms and 4+ bedrooms.

Monday, February 22, 2010

Manhattan Real Estate: Direct Ownership vs. REIT?

Article as published in Feb 22, 2010.  Manhattan Property: Direct Ownership vs REITs

Here are some pros and cons to weigh if you're thinking about direct property ownership in Manhattan, such as buying an investment condo or building vs. investing in a real estate investment trust such as Boston Properties(BXP Quote), SL Green Realty(SLG Quote) or Vornado Realty Trust(VNO Quote) that own commercial properties in the area.

No. 1, Liquidity: REIT wins. REITs are liquid and can be bought or sold with the click of a mouse. That's not the case with direct ownership in a condo or building because it takes at least three months to buy or sell.

No. 2, Entry level: REIT wins

Saturday, February 20, 2010

Most Cities Still Won in Housing Boom - CNBC

Left graph looks at price increases from 2000 to peak.  Right graph looks at price decreases from peak to Oct 2009.  Most cities have a net gain.  Full article on CNBC

Thursday, February 18, 2010

Investing in New York Property - direct investment or REITs

Comparison of direct property investment (buying a condo or building) vs buying REITs (eg stocks of Boston Properties, SL Green, Vornado who own a lot of Manhattan commercial properties).