Sunday, November 29, 2015

The New New York Skyline

Good visual of new Manhattan buildings being built, in National Geographic article, The New New York Skyline.

Monday, November 2, 2015

New Property Projects in Manhattan 2015

111 Murray in Tribeca

111 Murray is Tribeca's new super tower, expected completion 2018.  Designed by Kohn Pedersen Fox, 111 Murray rises to 800 feet and 64 stories, culminating with a distinctive crown at the top.  It is located one block from the World Trade Center and across from Goldman Sachs.

One bedrooms start at $2 million and 2 bedrooms between $4.5m to $5m.

Website:  111 Murray

Friday, October 2, 2015

Manhattan Q3 2015 Property Market Update

Overall Q3 Market

Limited inventory not meeting demand is putting upward pressure on prices.  

Number of sales, from pent-up demand since the financial crisis, increased 9.8% compared to a year ago.  A robust local economy, weaker US dollar and global economic uncertainty all played a role in shaping the Q3 market.

Friday, September 25, 2015

Billionaire's Row Super Luxury Residential Towers

The construction of ultra luxury property along Manhattan's Billionaire's Row, as discussed with CNBC's Brian Sullivan on Talking Numbers, is happening now.  

The super high end buildings include 432 Park Avenue, Nordstrom Tower, 220 Central Park South and 111 West 57 Street.  The skyscape of 57th Street will be quite different a year from today.  

Media Interview: Yuan Devaluation Could Weigh On Chinese Buyers Of U.S. Homes

By Alex Veiga, Associated Press Business Writer
Friday, Sept 18, 2015, 10:35AM EST

Shanshan Wu already owns three houses back home in China. But the 36-year-old has spent the last two months in Chicago shopping for a three-bedroom. She's got cash to spend - up to $400,000.

And she's not done.

"The real estate market in China is dropping and I'm planning to sell one of them to maybe buy more houses in the U.S.," said Wu, whose hometown of Yunfu is in the province of Guangdong in southeast China.

Thursday, September 3, 2015

New Property Projects in New York

520  Park Avenue

520 Park Avenue, 54-storey limetone tower designed by star architect Robert A.M. Stern, aims to be the next 15 Central Park West.  It will have 23 full-floor residences of 4,600 square feet each ranging from $16 million to $37 million.  In addition, 7 duplexes and one triplex, ranging from $70 million to $100 million.

Amenities include a garden, pool and white glove service.  But unfortunately, entrance is on 60th Street (not Park Avenue).

Website:  520 Park Avenue 

Friday, August 14, 2015

Why Buy Manhattan Property As Investment

Successful entrepreneurs and professionals from around the world have been investing in Manhattan apartments for a long time.  

We are very familiar with the reasons clients invest in Manhattan, New York because this segment is our focus.  The basic drivers are as follows:

Capital Preservation
New York property is regarded as a safe investment against inflation, economic uncertainty, political instability and even theft in their home country.  High net worth investors work very hard to accumulate wealth and they work hard at preserving it as well.  

Tuesday, August 4, 2015

Tips On Buying International Real Estate

JULY 31, 2015
A strong U.S. dollar isn’t just making vacations overseasmore affordable; a brawny buck puts foreign real estate on sale, too.
Jason Kumpf, real estate expert at USForex, says their clients are “absolutely” using dollar strength to justify buying international real estate, particularly in continental Europe and the U.K. Even Canada is attracting more Americans now that the loonie is at about a 20% discount to its U.S. counterpart, says Kumpf.
Wei Min Tan, a residential condominium specialist at Rutenberg Realty’s Castle Avenue, says select buyers will always want to invest in a top-tier city like London, but a wave of buyers is also favoring countries with lower costs of living, including Malaysia, Thailand, and Costa Rica.
“They may see it as a place to retire in the future. Here [retirement] can cost so much, there it’s a fraction,” Tan says.

Sunday, July 5, 2015

Interviewed for "5 Secret Ways to Make Money on Your Home"

Summertime, and the living is easy. If only the same could be said about selling your New York home.
Whatever your reason for selling — perhaps you want to downsize, or maybe your family has grown or you have a change in your personal life — applying some expert advice can entice buyers and help you gain the biggest return. reached out to real estate experts for tips on how to succeed in the country’s largest market.

1.  Set a Welcoming Stage For Buyers
Simple changes can help set the scene for a sale, make a space appear especially welcoming and irresistible to potential buyers, said Wei Min Tan, a real estate associate broker and Manhattan condominium buyer’s broker at Rutenberg: The Smart Brokers, based in Manhattan. To accomplish this, he suggests removing clutter, minimizing furniture to make an area look more spacious and displaying fresh flowers.

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.

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.

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.

Thursday, January 1, 2015

CNBC interview

My most memorable interview of 2014. Barely made it, had to run from Lexington to Fifth Ave because roads closed for Obama. Heart rate still up during the segment.