Manhattan property investment performance

Mortgage rates spiked from 2021 to 2023, making it a lot more expensive for buyers needing financing. Many buyers became renters because of the significant increase in monthly mortgage payments. Rents, already at record levels because of inflation, increased further because of demand coming from buyers.

Read the full article here: Manhattan property investment performance

Manhattan Condo Historical Price Trend

This graph shows the historical median price of a Manhattan residential condo increasing from $425,000 in 1999 to $1.7 million in 2017. During the downturn period of 2017-2019, median price declined to $1.588 million. Median price in 2022 was $1.746 million, a new record surpassing even the 2017 level. In Q1’2024, median price dropped to $1.632 million because of increased mortgage rates.

Read the full article here: Manhattan Condo Historical Price Trend

Market pulse shows that we are currently in a neutral market.

Visit our website to learn more: https://www.castle-avenue.com/

Average Manhattan, New York Apartment Prices

 

Average Manhattan apartment prices are based on whether the apartment is a condo or coop. Price per square foot of a condo is higher than for a coop because: a condo owner gets real estate title, does not require board approval and can rent out the apartment as desired without limitation.

Read the full article here: Average Manhattan, New York Apartment Prices

Manhattan Real Estate Market Forecast 2024

Is Manhattan real estate picking up? The Manhattan real estate market, a microcosm of New York City’s dynamism, experienced a rollercoaster ride in 2023. Soaring interest rates dampened buyer enthusiasm, leading to a significant drop in sales volume compared to the record highs of 2021. However, as we enter the second quarter of 2024, experts see signs of a stabilizing market with potential opportunities for both buyers and sellers.

Get our 2024 forecast on sales, prices and what metrics to watch for buyers and sellers here: Manhattan Real Estate Market Forecast 2024

New York Property Capital Gains and Other Taxes

Capital gains tax is a common question from our foreign clients when evaluating whether to invest in Manhattan property. Besides capital gains, there is also monthly New York City property tax, income tax and estate (inheritance) tax.

Read the full article here: New York Property Capital Gains and Other Taxes

Pros and Cons of New Property Launches in Manhattan

Buying into new condominium launches in Manhattan means price discount and visiting a beautiful sales office, but uncertainties abound too.

Read the full article here: Pros and Cons of New Property Launches in Manhattan

Engaging property agent in Manhattan, New York

In the U.S., there is a buyer’s agent and a seller’s agent. The buyer’s agent represents the interest of the buyer, while the seller’s agent represents the interest of the seller.

Read the full article here: Engaging property agent in Manhattan, New York

Foreign Buyer Guide

Overview for foreign investors - the buying process, managing and selling the property.

Read the full article here: Foreign Buyer Guide

Luxury Amenities in Manhattan Condos

Owning a Manhattan condo isn’t just about acquiring an address; it’s about investing in a lifestyle. It is about waking up to panoramic views, indulging in world-class amenities, and stepping into a vibrant world unlike any other. It’s about having your every need catered to, your well-being prioritized, and your desire for excitement fulfilled.

Read the full article here: Luxury Amenities in Manhattan Condos

Manhattan Investment Choice: Flip or Buy-and-Hold

Pre-construction flipping and buy-and-hold condos in Manhattan - explore the potential upsides and downsides of each strategy.

Read the full article here: Manhattan Investment Choice: Flip or Buy-and-Hold

Rules for foreigner buying New York property

Manhattan is a top destination for foreigners looking to invest for asset diversification. There is no special stamp duty for foreign buyers which makes Manhattan a better value compared to many global cities.

Read about the key rules for foreigners buying Manhattan, New York property here: Rules for foreigner buying New York property

Priced 2 bedroom 5th Avenue apartment

  Flashback Friday: Priced 2 bedroom 5th Avenue apartment alongside real estate mogul Barbara Corcoran

View more of my media appearances here: https://www.castle-avenue.com/media.html

202 Broome Street, #7Q, New York, NY 10002

Large 1-bedroom, 1 bathroom home with a large walk-in-closet, a Miele washer and dryer and Western views of the building’s garden.

Apartment features a custom dining island, oversized windows, European oak flooring, Italian cabinetry by Moca, Dolomiti marble countertops, Miele refrigerator/freezer and dishwasher and a Miele gas cooktop with vented hood, oven, and speed oven. The bathroom is covered in Calacatta Lincoln marble, and features a custom floating vanity countertop in addition to polished nickel fixtures and radiant heated floors.

Rental Price: $6,200/month

View the listing here: 202 Broome Street, #7Q, New York, NY 10002

Generational Wealth Creation through Manhattan Property Investment

Manhattan real estate has long been considered a blue chip asset, offering investors the potential for safe and stable returns. But beyond this, Manhattan property investment can also be a powerful tool for building generational wealth. By investing in a tangible asset that appreciates over time, families can create a legacy that benefits future generations.

Read the full article here: Generational Wealth Creation through Manhattan Property Investment

Is now a good time to invest in Manhattan property?

In 2021 and early 2022, we were in a seller’s market. From mid-2022 to 2023, we saw interest rate hikes which resulted in doubling of mortgage rates. The good news is that the rate hikes have stopped. Mortgage rates even started decreasing slightly.

We are still in a buyer’s market. Buyers (especially those buying all-cash) have the advantage. Rental yields are high as rents are at record levels.

Read the full article here: Is now a good time to invest in Manhattan property?

Manhattan Condo Historical Price Trend

Median price in 2022 was $1.746 million, a new record surpassing even the 2017 level. In Q4’2023, median price dropped to $1.66 million because of increased mortgage rates.

Read the full article here: Manhattan Condo Historical Price Trend