Friday, September 24, 2010

New York hotel for sale in prime Canal Street / Lafayette Street

For Sale:  
28-Room Hotel with Significant Retail in top Manhattan, New York location.  Canal Street / Lafayette St in Chinatown/Soho neighborhood.  $29 million, 7% cap rate.

Sunday, September 19, 2010

The Hunt: Chinatown with Wei Min Tan, Open House NYC

Weimin Tan brings client to view 2 bedroom condos in Tribeca and Financial District.  Weimin is a specialist with international / foreign investors looking to invest in Manhattan apartments and buildings.  He speaks Cantonese Chinese, Malay and Mandarin Chinese.

Sunday, September 5, 2010

New York City 2010 Facts

City Facts Graph
This recession, NYC lost 4.8% of jobs, less than US avg of 7.3%

Wall Street Profits

City Facts Graph

NYSE member firms achieved record profits in 2009 after posting $50B in losses during the past 2 years.

Saturday, September 4, 2010

Why buy Manhattan Property with a Broker

1.  Commission:
The commission is a pre-negotiated amount paid by the seller.  If a buyer has a broker, it's split 50/50 between the seller's and buyer's brokers.  Else, the seller's broker keeps it all.  There is no "discount" by going directly.

Friday, September 3, 2010

Manhattan vs US property market

Manhattan outperforms US housing market - WSJ article
Home Market:  Lots of Looking (link to Wall Street Journal article)

1.  New York City outperforms rest of the US housing market this summer.  Prices rising, employment grows.