Central Park condos NYC

Central Park, along with Wall Street, Times Square and Fifth Avenue, is perhaps one of the most iconic landmarks in New York City. When I get an inquiry from a foreign buyer, these locations are often mentioned because they are what people see when they envision Manhattan.

Read the full article here: Central Park condos NYC

Billionaire's Row condos NYC

Billionaire’s Row has become a symbol of the staggering wealth in New York City and the world. The buildings on Billionaire’s Row offer some of the most luxurious amenities and views in the city, and remains a sought-after address for the world’s wealthiest individuals, and the buildings on the strip continue to set records for the most expensive apartments ever sold.

Read the full article here: Billionaire's Row condos NYC

Manhattan, the U.S's most prime real estate

The island of Manhattan (also known as New York, New York) is the most prime and expensive real estate in the United States. Within the U.S., Manhattan is home to the most billionaires, the highest prices per square foot, the highest rents and highest household incomes.

Read the full article here: Manhattan, the U.S's most prime real estate

Sponsor Condos in Manhattan, Art of The Deal

Sponsor condos in Manhattan, New York refers to condos being sold by the developer and not by an individual unit owner.  The sponsor is the developer who either launched or converted the condominium property project.

The art is in selecting the right condo project based on a solid understanding of the current market, neighborhood, product type and demand/supply.

Read full article here: Sponsor Condos in Manhattan, Art of The Deal

View from client's condo

 

Can you see the Verrazano Bridge all the way south? From client's new 3BR condo.

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

Recovery fueled by low mortgage rates and pent up demand

 

The Manhattan sale market has been robust the past few months as reflected by the Pending Sales and Weekly Contracts Signed metrics.  

Pending Sales has been increasing weekly since July 2020. Meanwhile, we had the 8th week of 300+ contracts signed per week. We are definitely recovering and at the beginning of the next up cycle in Manhattan real estate

Visit our website at https://www.castle-avenue.com

April 2021 Manhattan Property Market Overview by Weimin Tan

Top Manhattan, New York property agent Weimin Tan provides an 8 minute overview of the Manhattan condo market. The presentation covers the summary for the Manhattan condo market for the first quarter of 2021 wherein 1) Q1 sales volume was up by 20.4% versus the prior quarter, and 2) we have a shortage of supply, listing inventory went down by 14%. Strong demand continues driven by low mortgage rates, pent up demand and optimism for Covid vaccines.

Visit our website at https://www.castle-avenue.com

Productive viewings for Pied a Terre (Vacation Home)

Productive viewings with client shopping for pied a terre (vacation home). This is one of the best lobbies I've seen. So much prewar character.

Visit our website at https://www.castle-avenue.com

Best Manhattan, New York Penthouses

 

Owning a condo penthouse in Manhattan is a global status symbol.  Penthouses are the best apartment(s) in a building.  It can be on the top floor of a super luxury tower like 432 Park Avenue or the biggest apartment in a low density Soho or Tribeca building with 10 floors.

Read full article here: Best Manhattan, New York Penthouses

Buying a vacation or second home in Manhattan

 

Weekend or second homes, aka pied-a-terres in NYC, is a well-deserved luxury for clients living elsewhere but still call Manhattan home.

Buying a vacation or second home in Manhattan, New York has slightly different criteria compared to buying an investment property. The key difference vs an investment property is that there is more personal preference that go into the selection of a pied-a-terre.

Read article: Buying a vacation or second home in Manhattan

Buying landed property in Manhattan

 

Interested in landed property or a townhouse in Manhattan? These are the pros and cons of owning a house in Manhattan (as opposed to a condo).

Read article, Buying landed property in Manhattan, New York

Future of Real Estate

 

Just published, "Future of Real Estate."

The future of real estate as result of Covid-19 can be summed up as (1) an acceleration of technology, (2) cities will always be needed because humans are social creatures. Real estate, this human endeavor from the beginning of civilization, is pushed aggressively into adopting technology. Will cities die because people don’t want to be living closely anymore? Absolutely not.

Investing in Chelsea

 

Chelsea is among the Manhattan, New York neighborhoods with the most entertainment, art galleries, dining and nightlife. This beloved neighborhood is situated on the west side of Manhattan, between 14th and 23rd Streets from south to north, and between 6th and 12th Avenues from east to west.

Read full article, Investing in Chelsea.

New York property agent Weimin Tan on when will Manhattan recover

 

The Manhattan, New York sale market has been steadily picking up since the low in April and May when we had the Covid lockdown.  As a broker, I have been experiencing bidding wars at the $3 million+, three bedroom price segment.   Apartments that are priced well are getting a lot of interest from buyers who are all ready to take advantage of the historically low mortgage rates.

Read full article, New York property agent Weimin Tan on when will Manhattan recover

New York real estate agent on 3 coveted Manhattan condo features

Just wrote about the 3 coveted features of a Manhattan condo that help real estate value. These are scarce, with limited supply and distinguish the property from the rest. Of course, we all know about location... Read about it, New York real estate agent on 3 coveted Manhattan condo features.

Manhattan property buying opportunity amid COVID 19

 

Q3 Manhattan sales market slumped 43%. Rental vacancy rate now 5% (vs historical 1%). Meanwhile, rest of the U.S. is experiencing a real estate boom with the biggest gains since 2006. When do we expect things to get back to normal in Manhattan? Here is my analysis.

https://www.castle-avenue.com/manhattan-property-covid-19-buying-opportunity.html

Is now a good time to invest in Manhattan real estate?

 

Is now a good time to invest in Manhattan real estate? Article is about the downcycle from 2017 to 2019, which extended through now due to COVID 19. Many moved out of Manhattan to avoid density and given work from home policies. There is a lot of rental inventory and owners are cutting rental prices. Sale data from Q3 is not out yet. but we are seeing prices come down about 10 percent from pre-COVID. One thing's for sure - it's not a good time to sell, although sellers are still not adjusting to market realities.

Investing in a Manhattan penthouse apartment

Investing in a Manhattan penthouse apartment.  There are downsides as well, such as the elevator stop is always local.  Of course, the benefits of a penthouse unit include the best views, light, feel good factor and numerous other soft perks.

Aidan Booth, online entrepreneur and property investor

 

Interviewed client Aidan on his property investment story. He started with a $30,000, 300 sqft apartment in Buenos Aires, in 2006. He talks about creating passive income, getting lending to benefit from leverage and the driver for coming to invest in Manhattan real estate. Read about it at Aidan Booth, online entrepreneur and property investor.

Property Investment in New York

 

Property investment in New York, specifically in Manhattan, is a prudent decision taken by successful individuals as part of their portfolio planning.  For foreigners, investing in New York property is seen as a safe haven for assets because of the limited supply and high demand coming from people who live here and investors from all over the world.  New York property is a hedge for investors as the world experiences uncertainty in global trade, currency volatility, rising fundamentalism, and raising inequality which creates unrest.  Read the article, Property Investment in New York.