Fiscal cliff impact on New York, US Property

The majority of foreign investors of New York and US property have little to be concerned about the new 2013 tax laws resulting from the fiscal cliff deal.

The two components impacting property investors in New York and the US are as follows:

A.  Federal capital gains tax will increase from 15% to 20% for individuals making more than $400,000 per year ($450,000 for married couples).

New York real estate cheap based on price-to-income

Here is a graph from the IMF, as published in A Place That Makes New York Look Cheap, showing top cities' property price to annual household income.  Price of property in New York is 6.2x annual income, quite low compared to the top cities in Asia.

WSJ: Manhattan property a bargain

Wall Street Journal reports Manhattan remains a bargain after adjusting for inflation.  By international standards, it's even cheap.

Aldyn $16m duplex with private pool

This is Aldyn's 6BR tower duplex that comes with a private pool.  Aldyn is Manhattan's most amenities-loaded condo building.  Presenting the property is Sabrina Radoncic, one of the most professional and classy brokers I've worked with.

View more videos at: http://nbcnewyork.com.

The global island: New York, NY

The global island:  New York, NY
By  Jennifer Harrison Jan 15, 2013

Article on Manhattan in Property Life Asia in which I had the opportunity to speak about state of the Manhattan market.

Manhattan, highly efficient real estate market

Manhattan is likely the most efficient real estate market in the world.  By efficient, I am referring to being properly priced and price being in-line with fundamentals.  This includes transacting at the right price, sellers asking at around the right price and buyers offering at around the right price.

Manhattan 4Q 2012 Property Report

This morning, I had the pleasure of speaking to Jennifer Harrison of Property Life whose writing I found to be very real, entertaining and a lot of fun.  

I gladly accepted her invitation to be a contributor for Property Life and as timing would have it, this  first article is on Manhattan's fourth quarter property market report.  Alas, a numbers-driven article but I'll try to remove the dryness a little...