Strategy: Investing in pre-construction new development

Investing in pre-construction in Manhattan refers to buying based on plans and renderings, before a property is completed. Often, developers start selling 2 years in advance of the anticipated completion date. New developments can either be a Ground-up construction or a Conversion.

Read the full article here: Strategy: Investing in pre-construction new development

New Launch Condo Projects in Manhattan

Buying new launch condo projects in Manhattan, New York is a strategy we focus on with investor clients from all over the world who are seeking Manhattan property as a form of asset diversification.  Since Manhattan is land-locked, the supply of new launch property is small relative to overall property inventory.  Prices of new launch condo projects are higher than resale condos but the new launch condo strategy is very viable.

Search the entire Manhattan new launch condo inventory via the database here: New Launch Condo Projects in Manhattan

 

Previewing for client at one of NYC's hottest new projects.

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

Alcove studio at Tribeca's ultra luxury tower

 

Why we purchased the new residential condo?

• International client bought at pre-construction stage which offers a price discount.
• Purchased at $1.54 million and waited 2 years for completion.
• Now on market asking $2 million, significant price appreciation.
• Strong rental yield.

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

Just Closed.

Just closed, view of Google's new downtown campus from my client's new apartment in Hudson Square. We booked at pre construction stage about 2 years ago.

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

New York's new condo market

The current wave of new condos in Manhattan is commanding premium prices.  According to The Real Deal's article Ranking The Hot New Condos, 47 percent of condos launched within the past 12 months have asking prices of above $3,000 per sqft.  Most are focused on larger 2-5 bedroom residences.

Buyers backing out

Buyers fighting to cancel contracts (The Real Deal)


Where buyers are backing out (The Real Deal)