tag:blogger.com,1999:blog-65271092505292260192012-02-25T09:11:18.151-05:00Wealthre: Manhattan, New York Property BlogThoughts on Manhattan property, one of the world's best investments.Wei Min Tanhttp://www.blogger.com/profile/11115308199518451919noreply@blogger.comBlogger2581100tag:blogger.com,1999:blog-6527109250529226019.post-48200323819521041612012-02-25T09:07:00.000-05:002012-02-25T09:11:18.159-05:00Manhattan's parks and waterview oasisBattery Park is Manhattan's top neighborhood for parks, water views and recreation. It is also Manhattan's newest neighborhood with about 10 new residential buildings, a brand new library, a new Goldman Sachs headquarters which attracts new restaurants and of course, new parks.
People are attracted to Battery Park because of the lifestyle. For example, the running path along the water, Wei Min Tanhttp://www.blogger.com/profile/11115308199518451919noreply@blogger.com0tag:blogger.com,1999:blog-6527109250529226019.post-71444051700208943382012-02-15T07:59:00.000-05:002012-02-15T07:59:10.434-05:00Met's $60 million plazaPlans for a $60 million outdoor plaza in front of the Metropolitan Museum of Art will turn the area, on Fifth Avenue between 80th and 84th St, into even more of a tourist mecca. But Upper East Side residents are not welcoming it, stating that it's a residential neighborhood, not a hang out spot.
Source: TheRealDeal.comWei Min Tanhttp://www.blogger.com/profile/11115308199518451919noreply@blogger.com0tag:blogger.com,1999:blog-6527109250529226019.post-13449555301863670902012-02-12T20:58:00.000-05:002012-02-12T21:03:27.153-05:00Top New York restaurantsTop New York restaurants according to Forbes. About right. I love Bouley and Rosanjin.
Asiate
Blue Hill
Bouley
Corton
Daniel
Eleven Madison Park
The Four Seasons
Gilt
Gotham Bar and Grill
Gramercy Tavern
Jean Georges
La Grenouille
Le Bernardin
Le Cirque
The Modern
Per Se
Rosanjin
Strip House
Tocqueville
’21′ Club
Wei Min Tanhttp://www.blogger.com/profile/11115308199518451919noreply@blogger.com0tag:blogger.com,1999:blog-6527109250529226019.post-76596205384411378272012-02-06T21:14:00.002-05:002012-02-06T21:14:50.418-05:00Hiring Buyer's Broker on NY1 News
Wei Min talks about hiring a broker when buying property on NY1 News. Many don't realize a buyer's broker works for the buyer but the commission actually comes from seller.
Visit us at Castle Avenue Partners, Manhattan investment property
Wei Min Tanhttp://www.blogger.com/profile/11115308199518451919noreply@blogger.com0tag:blogger.com,1999:blog-6527109250529226019.post-60004687055267352342012-01-29T18:40:00.002-05:002012-01-29T18:40:42.162-05:00Breakfast coffee
Breakfast coffee with Mei at Le Pain this morning.
Wei Min Tanhttp://www.blogger.com/profile/11115308199518451919noreply@blogger.com0tag:blogger.com,1999:blog-6527109250529226019.post-90479573096193329092012-01-29T18:28:00.000-05:002012-01-29T18:28:18.539-05:00New York private school cost approaching $40,000Cost of private schools such as Horace Mann and Dalton in New York approaching $40,000 per year. This exceeds Harvard's $37,000 per year according to New York Times article, Bracing for $40,000 at New York City Private schools.
At Horace Mann, parents of kindergartrners pay $38,000 and additional fees.Wei Min Tanhttp://www.blogger.com/profile/11115308199518451919noreply@blogger.com0tag:blogger.com,1999:blog-6527109250529226019.post-39701670143814247982012-01-19T20:26:00.001-05:002012-01-19T20:27:41.477-05:00Columbus Circle, 100 years apart
Columbus Circle today, from the Time Warner Center
Columbus Circle, at the southwest corner of Central Park, is site of three of the most expensive residential condominium buildings in New York. Time Warner Center, Trump International and 15 Central Park West. The area is touristy, exclusive and has the most expensive restaurants in NYC.
Columbus Circle circa 1907
I was surprised toWei Min Tanhttp://www.blogger.com/profile/11115308199518451919noreply@blogger.com0tag:blogger.com,1999:blog-6527109250529226019.post-82350145988833538222012-01-06T08:14:00.001-05:002012-01-19T11:31:51.642-05:00$110 million penthouse a bargain?
Extell Development recently raised its asking price for the penthouse at One57 to $110 million. Forbes reports that Extell's President calls it a bargain at $110 million. Reason is that at 11,000 sqft, the penthouse at One57 equates to about $10,000 per sqft. Note that the price of the average condominium in Manhattan in 4Q'2011 was $1,295 per sqft. So how can $110 million be a Wei Min Tanhttp://www.blogger.com/profile/11115308199518451919noreply@blogger.com0tag:blogger.com,1999:blog-6527109250529226019.post-71523858438286491292012-01-05T11:52:00.000-05:002012-01-05T12:45:07.054-05:00Manhattan New York 4Q 2011 Market ReportManhattan New York 4Q 2011 Market Report from Miller Samuel Appraisers just released. My analysis and summary :
From 1997 to 2011, price per square foot (Condos and Coops) increased from $328 to $1,117. This equates to about 9.2% appreciation per year. Since most people buy property with mortgage financing, if we assume a 50% financing level, the 9.2% provides a Return on Investment Wei Min Tanhttp://www.blogger.com/profile/11115308199518451919noreply@blogger.com0tag:blogger.com,1999:blog-6527109250529226019.post-15321568126898116562012-01-04T08:06:00.001-05:002012-01-04T10:53:20.953-05:00Manhattan in 1882
Nice article in today's NYTimes about development of the grid system in Manhattan.
Wei Min Tanhttp://www.blogger.com/profile/11115308199518451919noreply@blogger.com0New York, NY, USA40.7143528 -74.005973140.5217853 -74.3218301 40.9069203 -73.69011610000001tag:blogger.com,1999:blog-6527109250529226019.post-79108676666741305352011-12-23T10:10:00.000-05:002011-12-23T10:10:05.926-05:00Green Habits for New York livingGreen Habits for New York living. These are easy to implement green habits that I do. It's healthy, saves money and helps our earth.
1. Less bottled water: The plastic will be around forever as plastic is not biodegradable. Are you really going to recycle every plastic bottle?
2. Semi vegetarian: Have vegetarian days in the week. Studies have shown that meat products are a key reason Wei Min Tanhttp://www.blogger.com/profile/11115308199518451919noreply@blogger.com0tag:blogger.com,1999:blog-6527109250529226019.post-74673812407122296902011-12-22T20:11:00.002-05:002011-12-22T20:16:38.584-05:00Greenwich VillageGreenwich Village is the area surrounded by 14th Street, Houston Street, 7th Avenue and 4th Avenue/Mercer St.
Today, we know it as the home of New York University, Cooper Union and The New School. Historically, it's the Bohemian capital and birthplace of the Beat movement. Mark Twain and Edgar Allen Poe lived in Greenwich Village. Today, one could imagine being a writer while sipping Wei Min Tanhttp://www.blogger.com/profile/11115308199518451919noreply@blogger.com0tag:blogger.com,1999:blog-6527109250529226019.post-13280058784686823222011-12-20T08:03:00.001-05:002012-01-19T11:33:45.361-05:00Sandy Weill's $88 million apartment @ 15 Central Park WestSandy Weill's $88 million apartment at 15 Central Park West.
This is what the floorplan looks like. Mr Weill bought the apt for $44 million in 2007. Curbed reports that the buyer is fertilizer magnate Dmitry Rybolovlev who is paying the full asking price of $88 million.
Wei Min Tanhttp://www.blogger.com/profile/11115308199518451919noreply@blogger.com0tag:blogger.com,1999:blog-6527109250529226019.post-60855827555973998202011-12-15T09:30:00.000-05:002011-12-15T09:30:52.155-05:00Financial DistrictFinancials District, the area of Manhattan south of City Hall excluding Battery park. My first deal as a real estate agent was in Financial District, at 88 Greenwich St. An apartment which transacted at what would be considered such a "great deal" now. Over time, historical transactions always become a great deal as real estate is a time game.
The Wall Street bull and NYSE are perhaps the Wei Min Tanhttp://www.blogger.com/profile/11115308199518451919noreply@blogger.com1tag:blogger.com,1999:blog-6527109250529226019.post-66177183667727807152011-12-14T09:55:00.001-05:002011-12-14T10:20:24.808-05:00Surging demand for luxury New York condominiumsStrong demand for luxury New York condominiums. Buyers snapping up pre-construction property as inventory decreases.
250 West Street
2011 is the comeback year for New York luxury property according to the New York Post.
ONE57, the latest Extell development of 95 condominiums above a Park Hyatt Hotel, is reaching for the sky by asking $7 million for a 1 bedroom and $98.5 million for the Wei Min Tanhttp://www.blogger.com/profile/11115308199518451919noreply@blogger.com0tag:blogger.com,1999:blog-6527109250529226019.post-51275504461509388922011-12-14T08:54:00.000-05:002011-12-14T08:54:59.171-05:00What buyers want in New York real estateWhat buyers "want" vs "need" in New York real estate.
As published by Business Insider, these are the top three things that New York real estate buyers "want" :
1. A light filled apartment (98% of buyers want this)
2. Ample closets 87%
3. Outdoor space 61%
More realistically, what buyers "need" are the following:
1. Light filled apartment 57%
2. Ample closets 27%
3. Bathroom in master Wei Min Tanhttp://www.blogger.com/profile/11115308199518451919noreply@blogger.com0tag:blogger.com,1999:blog-6527109250529226019.post-22072908451449899712011-12-13T16:54:00.001-05:002011-12-14T10:21:03.148-05:00West Village, an oasis of personalityWest Village in Manhattan, New York is a charming village full of personality and character. Maybe that's why many celebrities call West Village home. It feels like a village, has neighborhood charm and parts of West Village may even make you think you're in an European town. The photo of the bakery below is example of the village feel of West Village.
West Wei Min Tanhttp://www.blogger.com/profile/11115308199518451919noreply@blogger.com0tag:blogger.com,1999:blog-6527109250529226019.post-52849203176475161522011-12-10T21:16:00.002-05:002011-12-10T21:20:31.889-05:00Better returns than Manhattan propertyCNNmoney.com looked at the appreciation of several French wines over the past 25 years and Chateau Lafite Rothschild had the appreciation rates shown below.
One of the few investments (provided you don't drink it) that exceeds the return on Manhattan property. Now, I am referring to something that provides consistent return, not the volatile hedge fund / bubble property stuff.
Now:
1982 Wei Min Tanhttp://www.blogger.com/profile/11115308199518451919noreply@blogger.com0tag:blogger.com,1999:blog-6527109250529226019.post-70479097366632039142011-12-10T20:35:00.003-05:002011-12-10T20:51:45.456-05:00紐約地產紐約地產 - 常見問答集
1. 如何利用房地產創造財富？2. 房地產為何會隨著時間增值？3. 房地產如何提供現金流？4. 為何選擇Castle Avenue Partners？5. 為何強調風險分散／多元化投資？6. 有關「不動產投資信託（REITs）」7. Castle Avenue Partners協助「1031換屋」房規申請嗎？8. 投資房地產存在哪些風險？9. 如何報稅？10. 國際/海外買家須知11. 購買紐約房產程序12. 合作公寓(Co-ops)與共管公寓(Condos)之比較13. 在曼哈頓擁有共管公寓的相關開銷14. 在曼哈頓擁有一棟樓（住宅或商用）的相關開銷15. 不同時期的開銷16. 擁有共管公寓或樓房的優缺點比較17. 紐約商業房產的收益率18. 紐約住宅型共管公寓(康斗)的收益率19. 房產稅20. 所得稅21. 資本增益稅 (Capital gains taxWei Min Tanhttp://www.blogger.com/profile/11115308199518451919noreply@blogger.com0tag:blogger.com,1999:blog-6527109250529226019.post-87386627091483889682011-12-10T19:05:00.001-05:002011-12-10T19:07:35.957-05:00What's so special about the 30 year fixed rate mortgageThe 30 year fixed mortgage rate was at 3.99% in November, representing a historical low since record keeping began in 1971. In New York, the low rate has driven up sales transactions but in the US overall, housing is still slow because of concerns over unemployment.
Historical trend of 30 year mortgage since 1971
The 30 year fixed mortgage is unique to the US as it means that for the next 30Wei Min Tanhttp://www.blogger.com/profile/11115308199518451919noreply@blogger.com0tag:blogger.com,1999:blog-6527109250529226019.post-20286191419248706262011-12-10T12:41:00.005-05:002011-12-10T20:58:47.077-05:00美國紐約房地産美國紐約房地産
1.0 外國人士投資概述1.1 選擇紐約的理由1.2 外國人可在紐約曼哈頓購置房地產嗎？1.3 何種房產最受外國/國際買家的觀迎？1.4 在曼哈頓擁有房產的相關花費為何？1.5 外國/國際買家辦理融資1.6 現金買家1.7 交易成本1.8 稅金1.9 進行交易時，經紀人/中間人的費用如何運作？1.10 當房產出租時，經紀人的費用如何運作？1.11 我需要多請一些經紀人嗎？1.12 在曼哈頓，哪一區最適合投資？1.13 過戶時，買家需要待在紐約當地嗎？
2.0 我們的價值2.1 我們專注服務高淨值身價的亞洲買家2.2 財務背景2.3 同時身為房地產投資人2.4 業界專家2.5 提供「一站式」服務 (One stop solution)2.6 對了！我們十分善待客戶，不給予壓力、或製造緊迫的假象等等。
3.0 外籍/海外投資人的購屋程序
4.0 管理房產物業
Wei Min Tanhttp://www.blogger.com/profile/11115308199518451919noreply@blogger.com0tag:blogger.com,1999:blog-6527109250529226019.post-18202634391843954982011-11-29T10:21:00.000-05:002011-11-29T10:21:35.563-05:00New York Chinese property agent on Chinese investorsNew York chinese property agent on why Chinese investors are flocking to New York property. The main reasons are overvaluation of property prices in China/Hong Kong and buying in anticipation of children coming to the US for higher education.
Wei Min Tan in Managing Director of Castle Avenue Partners, focusing on foreign buyers interested in buying Manhattan, New York property. He has Wei Min Tanhttp://www.blogger.com/profile/11115308199518451919noreply@blogger.com0tag:blogger.com,1999:blog-6527109250529226019.post-79477775124544471032011-11-20T19:36:00.003-05:002011-11-20T19:39:38.968-05:00The Ritz CarltonProperty and the Ritz Carlton.
This is the Ritz Carlton at Half Moon Bay. Many years ago, we (wife, mom, cousins) stayed at the next door Best Western . Then wandered around and came to this property. We did not know it was a Ritz Carlton. The view was spectacular, facing the Pacific Ocean.
A few years later, I went for an interview with Visa which was around the Half Moon Bay area. ThenWei Min Tanhttp://www.blogger.com/profile/11115308199518451919noreply@blogger.com0tag:blogger.com,1999:blog-6527109250529226019.post-85905045090826351742011-11-15T13:59:00.000-05:002011-11-15T13:59:44.299-05:00Selecting property agent in New York - 3 simple stepsAfter leaving the corporate world in 2006, I became a full time property investor in New York during which my partner and I viewed thousands of properties and interacted with a lot of property agents. Back then, I seldom actually interviewed agents and would just look at properties with any agent as long as the listings they sent me looked OK.
Through experience, I learned that there is a Wei Min Tanhttp://www.blogger.com/profile/11115308199518451919noreply@blogger.com0tag:blogger.com,1999:blog-6527109250529226019.post-81596892611413137292011-11-14T12:32:00.001-05:002011-11-14T12:33:52.906-05:00Manhattan, New York property price to rent ratioManhattan property price to rent ratio from Manhattan's analysis guru/blogger Jonathan Miller of MillerSamuel. A price to rent ratio is median price divided by median rental price and this shows how many years' annual rent it takes to buy property at a certain point in time. The chart shows that the historical price to rent ratio in Manhattan, New York is 16x. In 3Q'11 it was 25x.
If trendsWei Min Tanhttp://www.blogger.com/profile/11115308199518451919noreply@blogger.com0tag:blogger.com,1999:blog-6527109250529226019.post-64515154194606798622011-11-14T11:50:00.002-05:002011-11-14T11:52:09.128-05:00US 30-year mortgage loan rate below 4%, New York transactions upUS mortgage loan rate on the 30-year fixed mortgage fell to 3.99% last week according to Freddie Mac. This is the second time in history it fell to below 4%.
The 30 year fixed mortgage is unique to the US where the mortgage interest rate is fixed for 30 years. For the mortgage borrower, this is great because the carrying cost of financing a property here in the US is fixed. While over time,Wei Min Tanhttp://www.blogger.com/profile/11115308199518451919noreply@blogger.com0tag:blogger.com,1999:blog-6527109250529226019.post-73250995897235345992011-11-13T16:36:00.001-05:002011-11-13T16:37:06.616-05:00Sunday property previewPreviewed 5 properties for client with partner Susan today. In between, saw a piano player performing at Washing Square Park and had coffee at this very cool shop, La Colombe where there is no coffee menu. Just hot or cold coffee.
Visit us at Castle Avenue PartnersWei Min Tanhttp://www.blogger.com/profile/11115308199518451919noreply@blogger.com0tag:blogger.com,1999:blog-6527109250529226019.post-50752461878054469952011-11-13T10:11:00.001-05:002011-11-13T10:14:40.930-05:00New York property tax discount in new buildingsProperty buyers in Manhattan, New York has always discussed the issue of buying in a new building which usually comes with a 421A tax abatement. The tax abatement basically means for the first 10 years, the new property owner will pay a discounted tax amount. The tax amount usually increases over 10 years to the full tax amount.
For example, if the full tax amount is $1000 per month, the Wei Min Tanhttp://www.blogger.com/profile/11115308199518451919noreply@blogger.com0tag:blogger.com,1999:blog-6527109250529226019.post-10675440117512172292011-11-11T12:25:00.002-05:002011-11-11T12:52:30.572-05:00Reasons for investing in New York propertyNew York is now the #1 ranked destination for global property investment. Currently Chinese investors are a driver but depending on time period, New York has always had strong demand from foreign property investors. As a broker interacting with foreign investors on a weekly basis, here are key reasons as to why wealthy individuals globally are investing in New York.
New York, specifically Wei Min Tanhttp://www.blogger.com/profile/11115308199518451919noreply@blogger.com0tag:blogger.com,1999:blog-6527109250529226019.post-51664041036553941352011-11-10T16:50:00.001-05:002011-11-10T16:55:37.422-05:00Chinese investors buying New York propertyChinese investors have been aggressively buying up Manhattan New York property in the past year. I have been interviewed by CNN (Foreigners scoop up U.S. homes), New York Times (China's Wealthy Buying Condo Apartments) and Bloomberg on the topic and thought I'd do a summary of the trend in this blog post.
Overall, there is fear of a double dip in the US economy and the fear is reinforced by Wei Min Tanhttp://www.blogger.com/profile/11115308199518451919noreply@blogger.com0tag:blogger.com,1999:blog-6527109250529226019.post-46199744889866012372011-11-05T20:41:00.000-04:002011-11-05T20:41:49.085-04:00New York up 9.3% in Knight Frank's 3Q'11 Global Market ReportKnight Frank's 3Q'11 global prime properties report:
Summary points from Knight Frank's 3Q'11 global prime properties report:
1. Prime properties price growth slowing for the first time since the recession of 2008/2009. On average, prime property price increased 4.3% in Sept 2011 compared to a year ago. The cooling down is partly due to government deflationary measures in Asian cities.
2. Wei Min Tanhttp://www.blogger.com/profile/11115308199518451919noreply@blogger.com0tag:blogger.com,1999:blog-6527109250529226019.post-80982116009783656772011-10-27T10:51:00.001-04:002011-10-27T10:51:34.634-04:00This is New York
Metropolis - A New York City Timelapse from Will Boisture on Vimeo.Wei Min Tanhttp://www.blogger.com/profile/11115308199518451919noreply@blogger.com0tag:blogger.com,1999:blog-6527109250529226019.post-49451380673095368992011-10-23T16:09:00.002-04:002011-11-06T18:57:06.692-05:00Sunday Apartment PreviewPreviewed 7 apartments today, finishing at Century, 25 Central Park West.
Previewing apartments is something all good brokers should do. I realize, from personal experience as a buyer, that most brokers don't preview apartments that they bring clients to. In fact, many use the clients as the opportunity to look at more apartments.
I've made it a point to only show buyers properties that I Wei Min Tanhttp://www.blogger.com/profile/11115308199518451919noreply@blogger.com0tag:blogger.com,1999:blog-6527109250529226019.post-35646412830179968012011-10-21T14:46:00.003-04:002011-10-21T14:55:25.922-04:00CNN story on foreign buyers of US property (yours truly interviewed)Les Christie is a famous CNN real estate writer whose articles I have been following for a few years. Two days ago, I had the opportunity to speak to him about Manhattan real estate. The article came out today, below for your convenience. Click the title to go directly to the CNN source website.
Foreign buyers scooping up U.S. homes
By Les Christie October 21, 2011: 5:23 AM ET
NEW YORK (Wei Min Tanhttp://www.blogger.com/profile/11115308199518451919noreply@blogger.com1tag:blogger.com,1999:blog-6527109250529226019.post-59230582392646156452011-10-21T08:34:00.001-04:002011-10-21T08:41:14.019-04:00Foreign buyer - Buy a house, get a U.S. visaSenators Charles Schumer (New York) and Mike Lee (Utah) are proposing a bill that gives foreign buyers a U.S. residence visa if they spend $500,000 cash in a property. The visa does not allow them to work in the US but allows them to live here in the US as long as they own the property.
- The visa would not allow foreigners to work in the US. However, foreigners who can spend $500,000 cash Wei Min Tanhttp://www.blogger.com/profile/11115308199518451919noreply@blogger.com0tag:blogger.com,1999:blog-6527109250529226019.post-56920648522604859842011-10-20T12:55:00.000-04:002011-10-20T12:55:54.290-04:00Brunch at Bubby'sBrunch at Bubby's last weekend. The food was nice. The waiter was nice.
But it was too loud maybe 'cos I was sitting in the middle of the room and the sound just bounces back to the middle. It was expensive too, and cash only.
Wei Min Tanhttp://www.blogger.com/profile/11115308199518451919noreply@blogger.com0tag:blogger.com,1999:blog-6527109250529226019.post-71741624627513408622011-10-20T12:19:00.007-04:002011-10-20T19:34:09.301-04:00美國紐約房地產，展示豪華水景公寓美國紐約房地產，展示豪華水景公寓
美國，紐約，曼哈頓頂級房產經紀人陳偉明先生在紐約最受歡迎的房地產電視節目——Open House NYC中向客戶展示豪華水景公寓。
在節目中，根據客戶提出的高層、水景、以及完善的社區配套設施等要求，陳先生向客戶展示了兩處分別位於曼哈頓上西區和TriBeCa地區的住宅。客戶對被展示的第二套住宅尤為喜歡——該套住宅擁有十分開闊的水景視野以及曼哈頓地區最大最完善的社區配套設施。
作為曼哈頓頂級房地產經紀人，陳偉明先生經常在NBC，紐約時報，華爾街日報和CNN等致命主流媒體中亮相。陳先生致力服務於有意投資紐約房地產的海外投資者。
歡迎與Castle Avenue Partners - Manhattan investment properties聯繫獲取更多的信息Wei Min Tanhttp://www.blogger.com/profile/11115308199518451919noreply@blogger.com1tag:blogger.com,1999:blog-6527109250529226019.post-61137650354055108322011-10-20T11:56:00.004-04:002011-10-20T13:04:48.498-04:00美國 紐約 中央公園 房地產美國 紐約 中央公園 房地產
美國頂尖房地產經紀人陳偉明先生在本視頻中向大家介紹紐約地區最受歡迎、價格最高的地段之一——中央公園。 （均價3000-5000美元/平方英尺）陳先生還在本視頻中介紹中央公園地段的優點和缺點。
陳偉明先生是美國紐約頂尖地產經紀人之一。他致力服務有意投資美國紐約房地產的海外投資者。
我們的網站 - Castle Avenue PartnersWei Min Tanhttp://www.blogger.com/profile/11115308199518451919noreply@blogger.com2tag:blogger.com,1999:blog-6527109250529226019.post-63578983565048456462011-10-18T12:04:00.001-04:002011-12-26T09:50:07.259-05:00Manhattan 3Q 2011 rents increase, concessions disappear3Q 2011 average rent in Manhattan, net of concessions, increased by 6.9% to $3,491 according to the Miller Samuel Rental Market Report.
Only 5% of rentals had concessions compared to 23% a year ago. Concessions are things like one month free rent etc provided by landlords to make a rental more appealing.
Average rent per square foot is $50.60, a 13% increase from a year ago.
Bottom line - Wei Min Tanhttp://www.blogger.com/profile/11115308199518451919noreply@blogger.com0tag:blogger.com,1999:blog-6527109250529226019.post-14234733368166027032011-10-11T11:10:00.009-04:002011-10-20T11:04:55.142-04:00Searching for New York luxury apartment with water viewsSearching for luxury apartment with water views on NBC's Open House NYC.
Wei Min brings client Mei to view luxury apartments with water views at the $2 million price point. The client is looking for water views, high ceiling, close to a park.
Wei Min Tanhttp://www.blogger.com/profile/11115308199518451919noreply@blogger.com0tag:blogger.com,1999:blog-6527109250529226019.post-42618261531667199602011-10-07T14:39:00.000-04:002011-10-07T14:39:57.470-04:00EatalyDarren China, architect, an me discussing real estate projects at Eataly. This rooftop restaurant is amazing. The restaurants I frequent are the usual 3 or 4 that are kid-friendly. We each said we'll bring our wives next time.Wei Min Tanhttp://www.blogger.com/profile/11115308199518451919noreply@blogger.com0tag:blogger.com,1999:blog-6527109250529226019.post-88897252236171544322011-10-06T14:52:00.002-04:002011-10-06T14:55:37.122-04:00Love what you do. Keep looking, don't settle.
"Love what you do. Keep looking, don't settle."
"Your time is limited, don't waste it living someone else's life."
"Stay hungry, stay foolish."
- Steve JobsWei Min Tanhttp://www.blogger.com/profile/11115308199518451919noreply@blogger.com0tag:blogger.com,1999:blog-6527109250529226019.post-72786435091067968932011-10-05T15:42:00.003-04:002011-10-05T15:44:52.235-04:00New York ranked #1 globally for property investmentNew York beats London as #1 destination for property investment for the first time since 2007.
According to Cushman Wakefield, real estate investments in New York grew 166 percent to $29.7 billion in the last 12 months through August when compared to a year earlier. London, at #2, saw investments increase 2.4 percent to $27.2 billion.
For foreign property investors, London is still the top Wei Min Tanhttp://www.blogger.com/profile/11115308199518451919noreply@blogger.com0tag:blogger.com,1999:blog-6527109250529226019.post-24793566046063533112011-10-04T14:40:00.002-04:002011-10-04T15:02:57.762-04:00Manhattan New York Property Report 3Q 2011Manhattan, New York Property Report 3Q 2011
Manhattan, New York: Sales volume for both condos and coops jumped 17% compared to a year ago, fueled by demand from foreign investors and entry level buyers who took advantage of record low mortgage rates. Specific to condos, sales volume increased by 33 percent.
The average price of a Manhattan apartment, at $1.46 million, is flat from a year Wei Min Tanhttp://www.blogger.com/profile/11115308199518451919noreply@blogger.com0tag:blogger.com,1999:blog-6527109250529226019.post-34764774097888203122011-10-03T11:00:00.000-04:002011-10-03T11:00:10.269-04:00Stocks vs PropertyStocks vs Property
I wonder how many people actually stop to think about the long term performance of their stock portfolio vs their real estate portfolio. In the past few years maybe a lot more. But it used to be that stocks were THE thing to invest in.
While CNBC, MBA types and the financial media in general focus almost 100% on stocks, in the long run (at least in the past 13 years), theWei Min Tanhttp://www.blogger.com/profile/11115308199518451919noreply@blogger.com0tag:blogger.com,1999:blog-6527109250529226019.post-33561896923734472682011-09-23T09:43:00.003-04:002011-09-23T10:03:17.618-04:00New York Market Report Sept 2011Manhattan, New York real estate is an exception to the challenges facing the American economy. While the US's credit rating has been downgraded and unemployment is still high, New York Magazine's article "New York Exceptionalism" points to data that show Manhattan real estate is continuing its improvement.
Reasons Manhattan property continues to improve are:
1. Foreign buyers, especially Wei Min Tanhttp://www.blogger.com/profile/11115308199518451919noreply@blogger.com0tag:blogger.com,1999:blog-6527109250529226019.post-29074486054726830962011-09-14T12:12:00.009-04:002011-10-20T11:14:26.307-04:00Best New York Property AgentThe Best New York Property Agent is a bold claim. As a buyer looking through a sea of property agents, how does one determine who to work with? How can you decide when every agent seems to say the best things about themselves? Here are differentiation factors for us which I feel an investor could use as a platform when interviewing potential agents.
I feel I am one of the best New York Wei Min Tanhttp://www.blogger.com/profile/11115308199518451919noreply@blogger.com0tag:blogger.com,1999:blog-6527109250529226019.post-5863964192789426462011-09-05T08:40:00.004-04:002011-09-05T08:46:16.309-04:00Top public elementary and middle schools in ManhattanTop public elementary and middle schools in Manhattan compiled by the The School Boards based on DOE scores.
Top public elementary schools in Manhattan based on 2010 NY State ELA & Math Tests
Since middle school applications use 4th grade test results as one of the admissions criteria, we sorted the data by the mean scale scores. Here's what we came up with for the top public elementary Wei Min Tanhttp://www.blogger.com/profile/11115308199518451919noreply@blogger.com0tag:blogger.com,1999:blog-6527109250529226019.post-62360048236032333732011-08-31T08:30:00.000-04:002011-08-31T08:30:11.230-04:00World Trade Center developmentComputer visualization of World Trade Center development. A lot of construction is being done below ground.
Visit us at Castle Avenue Partners - New York investment propertyWei Min Tanhttp://www.blogger.com/profile/11115308199518451919noreply@blogger.com0tag:blogger.com,1999:blog-6527109250529226019.post-41782005024703925912011-08-21T08:50:00.004-04:002011-08-21T18:13:22.483-04:00US housing to rebound stronger than expectedSeeking Alpha: Housing To Rebound Stronger Than Expected (click for actual article)
A rather long writeup published in SeekingAlpha regarding US housing. Here my summary for your convenience.
1. Based on population growth trends, we need more housing than current supply.
2. The slowdown is not from oversupply but from under demand which is result of lack of consumer confidence.
3. OnceWei Min Tanhttp://www.blogger.com/profile/11115308199518451919noreply@blogger.com0tag:blogger.com,1999:blog-6527109250529226019.post-35259380637853731302011-08-13T07:56:00.003-04:002011-08-13T07:58:57.434-04:00China's wealthy buying New York luxury condo apartmentsWealthy buyers from mainland China buying New York luxury condos. New York Times article in which I was interviewed.
The boxy glass 15 Union Square West appeals to Chinese buyers, brokers say.
By CLAIRE WILSON
Published: August 12, 2011A Second Home for Affluent Chinese
WEALTHY buyers from mainland China, a rapidly expanding economy of 1.3 billion people, are increasingly turning to Wei Min Tanhttp://www.blogger.com/profile/11115308199518451919noreply@blogger.com3tag:blogger.com,1999:blog-6527109250529226019.post-52733597475059569392011-08-10T17:53:00.001-04:002011-08-10T17:54:22.668-04:00New York apartment rent increase 8%
Manhattan New York July 2011 average monthly apartment rent increased 8% to $3,358 compared to a year ago. This is just $36 shy of the record of May 2007. The vacancy rate was at 0.86%, the lowest in the nation.
-Crains New York Article
Near record temperatures outside in July were nearly matched by those indoors, as the Manhattan apartment market saw average rents approach historic peaks,Wei Min Tanhttp://www.blogger.com/profile/11115308199518451919noreply@blogger.com0tag:blogger.com,1999:blog-6527109250529226019.post-13092209189968382882011-08-10T12:35:00.000-04:002011-08-10T12:35:14.987-04:00Manhattan Real Estate Prices Continue Growth, Fueled by Foreign Buyers
Best-performing cities, from left: Hong Kong, St. Petersburg and Paris
Luxury residential real estate prices begin to slow but Manhattan continues to post gains, driven by
(i) Spring buying season
(ii) influx of foreign buyers capitalizing on the weak dollar
2Q'11 Manhattan real estate prices increased 6.8% compared to a year ago and a solid 3.6% vs last quarter. Full article below.
From Wei Min Tanhttp://www.blogger.com/profile/11115308199518451919noreply@blogger.com1tag:blogger.com,1999:blog-6527109250529226019.post-80816268953490295622011-08-09T21:36:00.000-04:002011-08-09T21:36:00.906-04:00New York City a technology hub to reduce reliance on Wall Street
The Bloomberg administration is pursuing an initiative to make New York City the next Silicon Valley by creating an applied science center in the City. Locations include Roosevelt Island, Governors Island and Brooklyn Navy Yard. The technology initiative is expected to create 22,000 jobs over the next decades.
Thus far, 27 institutions including Stanford and Cornell have submitted Wei Min Tanhttp://www.blogger.com/profile/11115308199518451919noreply@blogger.com0tag:blogger.com,1999:blog-6527109250529226019.post-17460725248185394222011-08-06T22:15:00.000-04:002011-08-06T22:15:09.422-04:00Manhattan is America's Most Walkable City
Manhattan New York is the nation's most walkable city. Only 2% of New Yorkers live in a neighborhood that require owning a car. Read full report America's Most Walkable CitiesWei Min Tanhttp://www.blogger.com/profile/11115308199518451919noreply@blogger.com0tag:blogger.com,1999:blog-6527109250529226019.post-20083926054550880432011-08-06T20:58:00.000-04:002011-08-06T20:58:28.971-04:00Manhattan vs Case Schiller / CNN market reports
New York City market reports published by CNN, Case Schiller, Census etc all refer to the greater New York City area. This means they include all 5 boroughs of New York City, northern New Jersey and certain areas of Long Island. These reports should not be taken as a measure for Manhattan real estate performance.
Manhattan, compared to the average US city and even compared to New York City Wei Min Tanhttp://www.blogger.com/profile/11115308199518451919noreply@blogger.com0tag:blogger.com,1999:blog-6527109250529226019.post-76734043769775339072011-08-06T19:57:00.000-04:002011-08-06T19:57:56.669-04:00Manhattan - the most efficient real estate market
Manhattan, New York is the most efficient and transparent real estate market in the world. Reasons are:
1. Closed transactions are public record
In Manhattan, data is openly available on all units that closed within each building. For example, if recent transactions all closed at around $1500 per square foot, there is a good certainty that the next transaction will close around that. Not Wei Min Tanhttp://www.blogger.com/profile/11115308199518451919noreply@blogger.com0tag:blogger.com,1999:blog-6527109250529226019.post-39630527296366064162011-07-31T14:21:00.001-04:002011-07-31T14:22:43.306-04:00Rutenberg Art Show photosWei Min Tanhttp://www.blogger.com/profile/11115308199518451919noreply@blogger.com0tag:blogger.com,1999:blog-6527109250529226019.post-59979359556436616472011-07-30T20:10:00.001-04:002011-07-30T20:12:21.067-04:00纽约曼哈顿华裔地产经纪人
Castle Avenue Partners是一所纽约曼哈顿的华裔地产经纪人公司，专注纽约曼哈顿豪华住宅物业及商业楼宇市场，经常获邀在不同的媒体亮相，包括畅销报章杂志及高收视电视台节目。
公司的核心成员是中国人(华人)，能说非常流利的英语，也操中国主要方言，而且拥有财经工作背景，能提供客户物业财务分析，加上拥有投资物业，自然能理解投资者的需求。我们有代表海外及本地客户买卖地产的丰富经验，无论是自住, 出租或投资, 定能为买家找到合适的物业及为卖家卖得最高的价钱。公司的服务项目包括纽约曼哈顿公寓住宅及商用楼宇买卖, 售后出租服务等等，亦提供一条龙式的服务: 我们的关系网络包括专业海外税务顾问，按揭经纪人(为海外或本地投资者寻找最优惠的按揭贷款) ，物业契约律师及会计师等。
Castle Avenue Partners 的目标是成为客户的长期合作伙伴，帮助客户透过曼哈顿的物业不断增长财富Wei Min Tanhttp://www.blogger.com/profile/11115308199518451919noreply@blogger.com1tag:blogger.com,1999:blog-6527109250529226019.post-90324571823790812502011-07-22T07:57:00.001-04:002011-07-22T08:00:43.478-04:00Manhattan Architect
Manhattan ArchitectBy Darren China, R.A.
Studio China Architecture + Design is a Manhattan based architecture and interior design firm. As architects and interior designers we help our clients explore their creative ideas, the process of making a space and lastly the experience of occupying the final built environment. Studio China Architecture + Design works with innovative, bold and Wei Min Tanhttp://www.blogger.com/profile/11115308199518451919noreply@blogger.com1tag:blogger.com,1999:blog-6527109250529226019.post-14915101157807029092011-07-21T18:40:00.001-04:002011-07-21T18:42:07.409-04:00Interview with Kathy Braddock - our real estate niche
"How To Be Your Best" With Wei Min Tan from Jeffrey Markowitz on Vimeo.
Interview with Kathy Braddock on how I became a real estate agent and our niche of advising high net worth clients on Manhattan real estate.Wei Min Tanhttp://www.blogger.com/profile/11115308199518451919noreply@blogger.com0tag:blogger.com,1999:blog-6527109250529226019.post-34201677285353683982011-07-10T20:17:00.001-04:002011-07-10T20:28:47.551-04:00紐約曼哈頓華裔地產經紀人
宗旨及公司簡介
Castle Avenue Partners是一所紐約曼哈頓的華裔地產經紀人公司，專注紐約曼哈頓豪華住宅物業及商業樓宇市場。我們有豐富的地產經驗，經常在不同的媒體亮相，包括報章雜誌及電視台節目。
我們是中國人(華人)，會說中文，也能操非常流利的英文。我們公司的優勢在於核心成員都擁有財經工作背景，能提供客戶物業財務分析，而且我們自己也擁有物業，自然能理解投資者的需求。我們擁有代表海外及本地客戶買賣地產的豐富經驗，無論是自住, 出租或投資, 我們定能為買家找到合適的物業及為賣家賣得最高的價錢。我們公司的服務項目包括紐約曼哈頓公寓住宅及商用樓宇買賣, 售後出租服務等等，亦能提供一條龍式的服務: 我們的關係網絡包括專業海外稅務顧問，按揭經紀人(為海外或本地投資者尋找最優惠的按揭貸款) ，物業契約律師及會計師等。我們的目標是成為客戶的長期合作夥伴，Wei Min Tanhttp://www.blogger.com/profile/11115308199518451919noreply@blogger.com0tag:blogger.com,1999:blog-6527109250529226019.post-15023867480727308722011-06-20T18:55:00.000-04:002011-06-20T18:55:49.465-04:00Chinese buyers New York property
Chinese Buyers Trickle into New York real estate - The Real Deal
Interviewed by The Real Deal on Chinese buyers of New York luxury property. A large portion of our clients are foreign buyers from Asia - China, Hong Kong, Singapore, Korea.
Key notes on our Asian/Chinese buyer segment include
* Preference for new buildings with good amenities
* Buying in New York because prices in Hong Kong/Wei Min Tanhttp://www.blogger.com/profile/11115308199518451919noreply@blogger.com1tag:blogger.com,1999:blog-6527109250529226019.post-54859155908137490232011-06-17T12:11:00.004-04:002011-06-17T12:16:23.352-04:00Manhattan, New York Residential ArchitectureManhattan Residential ArchitectureBy Darren China, R.A.
Residential architecture in Manhattan is wide and varied in its style and age. This is of no surprise since the city has been in existence since the 1600’s. As an architect it’s always gratifying to look at the breadth of architecture the city is home to. Here in Manhattan one can find virtually any style of building constructed in Wei Min Tanhttp://www.blogger.com/profile/11115308199518451919noreply@blogger.com0tag:blogger.com,1999:blog-6527109250529226019.post-8953640944465536242011-06-14T20:21:00.002-04:002011-11-11T09:47:19.971-05:00Chinese Buying New York Property (interviewed by Bloomberg)
Wealthy Chinese investors have been snapping up New York luxury residential property especially during the past 1 year. Bloomberg interviewed me on the trend and below is the article, note the section under Trump appeal. Chinese on Global Homebuying Spree as Local Markets Tighten On a sunny Saturday in early June, Larry Zhou strolled the floor of a property exhibition in Hong Kong, wondering Wei Min Tanhttp://www.blogger.com/profile/11115308199518451919noreply@blogger.com0tag:blogger.com,1999:blog-6527109250529226019.post-89885058493827733922011-06-12T08:51:00.001-04:002011-06-12T09:23:58.889-04:00New York luxury property overviewNew York Luxury Property Overview
Our foreign buyers are divided into two groups - clients who want to get a piece of Manhattan, New York and clients who want to get the best of Manhattan, New York. This article is about the latter and what luxury property means in Manhattan. Luxury in this context refers to the most expensive apartments.
A luxury property in Manhattan usually have one or Wei Min Tanhttp://www.blogger.com/profile/11115308199518451919noreply@blogger.com1tag:blogger.com,1999:blog-6527109250529226019.post-36723158524839017482011-06-10T13:49:00.002-04:002011-06-10T13:57:06.091-04:00Foreign Investor New York Property
1.0 Overview for the foreign investor1.1 Why New York1.2 Can foreigners buy property in Manhattan, New York?1.3 What type pf properties are popular amongst foreign / international buyers?1.4 What are expenses associated with owning a property in Manhattan?1.5 Financing for foreign / international buyers1.6 Cash buyers 1.7 Transaction costs1.8 Taxes, taxes, taxes1.9 How does the agent / Wei Min Tanhttp://www.blogger.com/profile/11115308199518451919noreply@blogger.com0tag:blogger.com,1999:blog-6527109250529226019.post-38057278164890958672011-06-08T14:59:00.000-04:002011-06-08T14:59:04.376-04:00Chinese Real Estate Agent New York
As Founder of Castle Avenue Partners group at Rutenberg Realty, I am pleased to share that we are expanding marketing efforts to serve Chinese buyers of Manhattan, New York real estate. Over the past 2 years, we have seen an explosion of Chinese buyers from mainland China and Hong Kong.
The volume of buyers during the past 6 months has been dramatic. This is driven by factors including:
(i)Wei Min Tanhttp://www.blogger.com/profile/11115308199518451919noreply@blogger.com0tag:blogger.com,1999:blog-6527109250529226019.post-50888893468844412092011-06-01T14:19:00.000-04:002011-06-01T14:19:53.094-04:00Bathroom Shower Design for New York Apartments
By: Darren China, R.A.
Bathrooms in Manhattan, New York homes always seem to be too small, tight, cramped…old. There is also an over abundance of tubs. I find that clients typically wish to remove the tubs as they do not work for the way in which they actually live. As an architect I always advise clients to maintain at least one tub in their home whether it be for resale value, a Wei Min Tanhttp://www.blogger.com/profile/11115308199518451919noreply@blogger.com0tag:blogger.com,1999:blog-6527109250529226019.post-30249836451783181322011-05-23T18:32:00.001-04:002011-05-23T18:33:25.889-04:00Manhattan retail + limited service hotel in the press
Article on Hotel Azure, Prime Retail + 28 room hotel, on Real Estate Weekly.
By Roland Li
Hotel Azure, an 11,047 s/f hotel with 1,460 s/f of retail, is on the market for $23.8 million. The Chinatown property, at 120 Lafayette Street, was originally listed for $29 million in October. It has a 7% capitalization rate.The listing brokers are Wei Min Tan, an executive vice president of Wei Min Tanhttp://www.blogger.com/profile/11115308199518451919noreply@blogger.com0tag:blogger.com,1999:blog-6527109250529226019.post-53610974384276382932011-05-18T15:08:00.001-04:002011-05-18T15:10:04.947-04:00250 E 57 St
250 E 57 Street Tower in Midtown East, designed by SOM. Building will house a Whole Foods, retail, school and residential condo tower at the top. This is the coolest looking residential building to date.
Visit us at Castle Avenue Partners - Manhattan investment propertyWei Min Tanhttp://www.blogger.com/profile/11115308199518451919noreply@blogger.com0tag:blogger.com,1999:blog-6527109250529226019.post-55464307909268162242011-05-15T07:47:00.001-04:002011-05-15T07:49:00.333-04:00International Property Buyer on WSJ
Article from the Wall Street Journal on International Property Buyers. In New York, my observation is that foreigners buy in buildings that are not too popular with locals. Maybe because they are WOW-ed by the amenities and brokers bring them there because it's an easy sell. The foreign buyers seem less concerned with the fundamentals such as supply vs demand.
Reading about London and Wei Min Tanhttp://www.blogger.com/profile/11115308199518451919noreply@blogger.com1tag:blogger.com,1999:blog-6527109250529226019.post-76177197351447620052011-04-20T17:52:00.002-04:002011-04-20T17:57:34.219-04:00World Property Ranking
Ranking by Knight Frank and Citi Private Bank, in the 2011 Wealth Report, of the world's top cities for property investment. This is based on four factors : Economic Activity, Political Power, Quality of Life, Knowledge and Influence.
Rank
1. New York
2. London
3. Paris
4. Tokyo
5. Brussels
6. Los Angeles
7. Singapore
8. Beijing
9. Toronto
10.Wei Min Tanhttp://www.blogger.com/profile/11115308199518451919noreply@blogger.com1tag:blogger.com,1999:blog-6527109250529226019.post-60254145883572120772011-04-05T09:15:00.000-04:002011-04-05T09:15:20.477-04:00Property - Best asset class in America
FORTUNE magazine's April 2011 cover story about property as the most attractive asset class in America.
(i) Dramatic drop in new construction resulted in historically low new inventory
(ii) Steep decline in prices, average 30% below peak of 2006.
(iii) Property prices currently low because of low demand, driven by economy/jobs. Once job creation and consumer confidence improves, prices will Wei Min Tanhttp://www.blogger.com/profile/11115308199518451919noreply@blogger.com0tag:blogger.com,1999:blog-6527109250529226019.post-27774979950751030102011-04-02T10:36:00.003-04:002011-04-04T16:13:25.201-04:00Manhattan Q1 2011 market report CONDOs
The media is reporting Manhattan Q1 prices down 10%, driven by higher mix of coops vs condos. The median price of a condo is about 2X that of a coop.
Here is the full Manhattan Q1 2011 market report. Specific to condos:Median price up 8% vs last year.Avg price per sf up 5.4% vs last year.
Highlights
* Overall (condo + coop) median property price $782,071, down 10% vs last year.
* ThisWei Min Tanhttp://www.blogger.com/profile/11115308199518451919noreply@blogger.com0tag:blogger.com,1999:blog-6527109250529226019.post-66480841896353950572011-04-01T09:54:00.000-04:002011-04-01T09:54:04.858-04:00Ten Ways To Beat Inflation - ForbesGreat chart comparing real estate investment vs other options in terms of beating inflation.
TRATEGYANNUAL
EXPENSES,
BASIS POINTS1HAZARDTAX TREATMENT2
FOREIGN EXCHANGE376COSTSBAD
GOLD ETF426NEW SUPPLIESTOLERABLE
HOME520REAL ESTATE CRASHVERY GOOD
JUNK BOND ETF640DEFAULTSDREADFUL
MORTGAGE720DEFLATIONGOOD
REAL RETURN FUND873DEFLATIONTOLERABLE
RESOURCE STOCKS0BUSINESS RISKTOLERABLE
SOCIAL SECURITY Wei Min Tanhttp://www.blogger.com/profile/11115308199518451919noreply@blogger.com0tag:blogger.com,1999:blog-6527109250529226019.post-85566718202997600562011-03-12T11:37:00.001-05:002011-03-12T11:37:24.580-05:00Storage binStorage Bin: Highly desirable in Manhattan.
Why: To store luggages, old textbooks - things we'll never use again but won't throw for sentimental reasons.To rent: $60 - $100 per monthTo buy: $10k to $30kWorth it? Definitely. Increases your property's desirability when renting it out or when selling.Wei Min Tanhttp://www.blogger.com/profile/11115308199518451919noreply@blogger.com0tag:blogger.com,1999:blog-6527109250529226019.post-800585056210441422011-03-09T20:13:00.001-05:002011-03-09T20:14:37.280-05:00Manhattan Property Search featureNow you can search all Manhattan, New York properties right from our website! Directly from the broker system. * See all properties marketed by all firms * No fake or expired listings
Visit www.castle-avenue.com and click the "Property Search" link at the top left. You will have to create a username and password. Sorry, this is a requirement by the Real Estate Board of New York.Wei Min Tanhttp://www.blogger.com/profile/11115308199518451919noreply@blogger.com0tag:blogger.com,1999:blog-6527109250529226019.post-32837828386507668042011-03-07T18:18:00.000-05:002011-03-07T18:18:52.982-05:00New York City economy improving, townhouse sales up 61%
Summary from two Crain's articles:
1. Crucial business services sector expanding. Large corporate tenants (law firms and information based companies) seeking 250,000+ sqft office space having bidding wars.
2. Applications for private schools increased 10% after declining during the financial crisis.
3. National economy is finally picking up, US added 192,000 jobs in Feb.
http://Wei Min Tanhttp://www.blogger.com/profile/11115308199518451919noreply@blogger.com0tag:blogger.com,1999:blog-6527109250529226019.post-67647893827030099742011-03-05T09:22:00.003-05:002011-03-05T09:23:33.071-05:00Residential rents in Manhattan
Manhattan, New York residential rents up 8 percent in January 2011 compared to last year, according to Citi-Habitats. The vacancy rate is at 1.26%. Soho/Tribeca is the neighborhood with the highest rents.
Visit us at Castle Avenue Partners - Manhattan investment propertiesWei Min Tanhttp://www.blogger.com/profile/11115308199518451919noreply@blogger.com0tag:blogger.com,1999:blog-6527109250529226019.post-12779012410834743932011-02-19T19:54:00.001-05:002011-02-19T22:01:48.226-05:00Quoted in Wall Street Journal on TriBeCa
Lofty Ambitions Can Be Realized In TriBeCa (click for full article)
Interviewed and quoted by Wall Street Journal on TriBeCa. TriBeCa is already the priciest zip code in Manhattan but still has great upside potential as it is just north of the World Trade Center development, New York City's most important project. Upon completion the WTC will add millions of square feet of new office spaceWei Min Tanhttp://www.blogger.com/profile/11115308199518451919noreply@blogger.com0tag:blogger.com,1999:blog-6527109250529226019.post-36650937673236425762011-02-13T17:09:00.000-05:002011-02-13T17:09:57.628-05:00New York Commercial Property Report
Manhattan tops in multi family transactions in 2010
According to Ariel Property Advisors, Manhattan was New York City's most active borough in multi family transactions in 2010. Total transactions totaled $2.1 billion spread across 170 buildings with an average price of $440 per square foot. Second was Brooklyn with 99 trades totaling $360 million.
Hotel sector on rebound
Manhattan's hotel Wei Min Tanhttp://www.blogger.com/profile/11115308199518451919noreply@blogger.com1tag:blogger.com,1999:blog-6527109250529226019.post-7970214100047642922011-02-13T10:58:00.000-05:002011-02-13T10:58:03.192-05:00Mortgage rates rising
CNNMoney article - mortgage rates, driven by yield on the 10-year Treasury, is rising because of improving economy and because rates are so low they have nowhere to go but up. The national average 30-year mortgage rate reached 5.05% in Feb 11, breaking 5% for first time since May 2010. Some predict the rate to increase to 5.5% to 6% by end of 2011.Wei Min Tanhttp://www.blogger.com/profile/11115308199518451919noreply@blogger.com0tag:blogger.com,1999:blog-6527109250529226019.post-53278451158350316452011-02-10T20:06:00.001-05:002011-02-10T20:15:31.356-05:00Manhattan Hotel for Sale $29 million
Our exclusive listing 120 Lafayette St, New York, NY 10013, which is a 28 room hotel plus 10 retail stores, has received significant inquiries since being featured in The Real Deal and New York Times. Along with the inquiries are offers that are being negotiated.
The hotel is different because of its prime location at the center of Manhattan's Chinatown. Specifically, the hotel is located Wei Min Tanhttp://www.blogger.com/profile/11115308199518451919noreply@blogger.com1tag:blogger.com,1999:blog-6527109250529226019.post-45801515617642061642011-02-05T10:12:00.001-05:002011-02-05T10:13:17.710-05:00Most popular rental neighborhoods
Love this graph on the most popular rental neighborhoods in Manhattan and boroughs. Also shows the most desired amenities by renters. Published by Naked Apartments.
http://www.nakedapartments.com/rentstats/nycWei Min Tanhttp://www.blogger.com/profile/11115308199518451919noreply@blogger.com0tag:blogger.com,1999:blog-6527109250529226019.post-64884177024999497622011-01-31T16:01:00.004-05:002011-02-13T11:47:56.991-05:00New York Property Price Trend 4Q 2010Graph above shows Manhattan New York's property price trend from 1997 through 2010. Average price per square foot was $328 in 1997 and appreciates to $1058 in 4Q 2010. This equates to an average annual appreciation of about 10%.
Visit us at Castle Avenue Partners - Manhattan investment propertyWei Min Tanhttp://www.blogger.com/profile/11115308199518451919noreply@blogger.com0tag:blogger.com,1999:blog-6527109250529226019.post-15144056335653681402011-01-31T15:45:00.012-05:002011-01-31T18:33:40.900-05:00New York Property Report 4Q 2010
* Median property prices up 3% to 11% depending on which report you read. Median price $845,000.
* Average price up as much as 14% driven by properties $3 million and above.
* Still lower than peak of 2008 but higher than bottom of 2009.
* Returning to normal (not crazy) growth rate. Expect slow and steady appreciation.
Below is summary data from Miller Samuel's
4Q'10 Manhattan Market ReportWei Min Tanhttp://www.blogger.com/profile/11115308199518451919noreply@blogger.com0tag:blogger.com,1999:blog-6527109250529226019.post-44220585441861102342011-01-29T16:41:00.004-05:002011-01-29T16:54:19.962-05:00Singapore, Hong Kong property bubble
Bubble forming in Singapore property
(SCMP.com)
Singapore's economy grew the fastest in Asia last year at 14.7 percent. Commensurately, property prices in Singapore rose beyond sustainable levels driven by low interest rates and excessive liquidity. This has prompted the Singapore government to take measures to prevent a real estate bubble including 5X stamp duties for owners who sell propertyWei Min Tanhttp://www.blogger.com/profile/11115308199518451919noreply@blogger.com1tag:blogger.com,1999:blog-6527109250529226019.post-83970209684083587142011-01-26T10:55:00.001-05:002011-01-26T10:56:33.883-05:00Dr Dooms buy Manhattan propertyDr Dooms buying Manhattan property
South China Morning Post, Hong Kong's English daily, reported the following:
1. Nouriel Roubini and John Taylor, the Dr Dooms of the financial world for all their pessimistic predictions, have bought property in Manhattan. Roubini, a New York University professor, bought a $5.5 million condo. John Taylor, who runs hedge fund FX Concepts, also bought an Wei Min Tanhttp://www.blogger.com/profile/11115308199518451919noreply@blogger.com0tag:blogger.com,1999:blog-6527109250529226019.post-89753940825452191062011-01-19T11:20:00.000-05:002011-01-19T11:20:50.515-05:00New York Central Park flat: Pros and Cons
New York Central Park Flats: Pros vs Cons
Many foreign investors ask for Central Park flats/apartments. One reason is the perceived value of such flats and another is that Central Park is one of the locations foreigners associate with prime Manhattan property. Other locations include Fifth Avenue and Wall Street.
Should you buy a Central Park flat as an investment? It depends....
Pros:Wei Min Tanhttp://www.blogger.com/profile/11115308199518451919noreply@blogger.com2tag:blogger.com,1999:blog-6527109250529226019.post-28463280003889426682011-01-17T12:31:00.001-05:002011-01-17T12:31:50.645-05:00New York luxury flatDemand from China and Hong Kong for New York luxury flats has been growing especially over the past year. One reason is the overvaluation of flat price in Hong Kong and China. Another is the price uptrend of New York flats and investors are looking to ride the up wave of flat price appreciation here in New York.
A recent study found that the US, led by New York and Washington, is the top Wei Min Tanhttp://www.blogger.com/profile/11115308199518451919noreply@blogger.com2tag:blogger.com,1999:blog-6527109250529226019.post-46845787963569483182011-01-15T10:01:00.002-05:002011-01-15T10:03:14.176-05:00Manhattan flat permits and supply
Drastic decrease in Manhattan, New York flat building permits means potential property shortage and hence price increase. The supply shortage is more dramatic than recovery from previous recessions driven by financing constraints to developers.
Carnegie 57 by Extell at 57 Street (top) and 450 W 42 St are amongst the few developments in progress right now. Carnegie 57, a Wei Min Tanhttp://www.blogger.com/profile/11115308199518451919noreply@blogger.com0tag:blogger.com,1999:blog-6527109250529226019.post-58720318519996595082011-01-15T08:56:00.000-05:002011-01-15T08:56:29.081-05:00US No 1 for foreign investors
US (specifically New York and Washington) is the top ranked property market according to foreign investors. Followed by Britain, Germany, China and France.
The Association of Foreign Investors in Real Estate reported that the US, focused on New York and Washington, drew 4 times as many votes as second ranked Britain. This is because fear of a double dip recession is over.
The ranked Wei Min Tanhttp://www.blogger.com/profile/11115308199518451919noreply@blogger.com0tag:blogger.com,1999:blog-6527109250529226019.post-39218685217475700402011-01-09T08:38:00.002-05:002011-01-09T08:38:52.321-05:00Hong Kong property up 40%http://online.wsj.com/article/SB10001424052748704415104576065582916574202.html?mod=WSJ_RealEstate_LeftTopNews
Hong Kong property up 40 percent driven by demand from Mainland China.Wei Min Tanhttp://www.blogger.com/profile/11115308199518451919noreply@blogger.com0tag:blogger.com,1999:blog-6527109250529226019.post-59484685965705840062011-01-08T19:41:00.000-05:002011-01-08T19:41:22.767-05:00New York luxury propertyNew York luxury property, as defined as the top 10% of sales, outperformed the overall New York property market in 4Q'10.
The median price of the New York luxury property segment, according to Miller Samuel, was $4.35m, up 15 percent compared to last year. Average price per square foot was $2101, up 13 percent compared to last year. In context, the overall Manhattan New York property median Wei Min Tanhttp://www.blogger.com/profile/11115308199518451919noreply@blogger.com0tag:blogger.com,1999:blog-6527109250529226019.post-25941211377468009112011-01-08T08:22:00.002-05:002011-01-08T08:22:29.479-05:00Manhattan neighborhood maphttp://www.nyctourist.com/map1.htm
Wei Min Tanhttp://www.blogger.com/profile/11115308199518451919noreply@blogger.com1tag:blogger.com,1999:blog-6527109250529226019.post-51726045414348752302011-01-06T11:45:00.001-05:002011-01-06T11:46:51.252-05:00Manhattan New York property appreciation, price trend
Manhattan, New York property appreciation and price trend. Expected appreciation of about 10% per year. Chances are it will not exceed appreciation rate in emerging markets like China or high speculation cities like Hong Kong. Upside is that there's less volatility.
Visit us at Castle Avenue Partners - Manhattan investment properties
Historical price trendWei Min Tanhttp://www.blogger.com/profile/11115308199518451919noreply@blogger.com1tag:blogger.com,1999:blog-6527109250529226019.post-83260347375312863162011-01-06T11:32:00.000-05:002011-01-06T11:32:10.180-05:00Mortgage foreign investor New York property
Mortgage loan options for foreign buyers of Manhattan New York property.
Visit us at Castle Avenue Partners - Manhattan investment propertyWei Min Tanhttp://www.blogger.com/profile/11115308199518451919noreply@blogger.com0tag:blogger.com,1999:blog-6527109250529226019.post-32035078231247994942011-01-06T11:04:00.000-05:002011-01-06T11:04:55.810-05:00New York agent for Hong Kong investors
Visit us at Castle Avenue Partners - Manhattan investment properties
Foreign buyer guideWei Min Tanhttp://www.blogger.com/profile/11115308199518451919noreply@blogger.com0tag:blogger.com,1999:blog-6527109250529226019.post-50917773209853950212011-01-06T10:59:00.002-05:002011-01-06T11:01:31.624-05:00Best area in Manhattan for investment
Weimin Tan talks about whether there's a best area for investment in New York. It all depends.
Visit us at Castle Avenue Partners - Manhattan investment propertyWei Min Tanhttp://www.blogger.com/profile/11115308199518451919noreply@blogger.com1