This is New York

Metropolis - A New York City Timelapse from Will Boisture on Vimeo.

Sunday Apartment Preview

Previewed 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.

CNN 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 (CNNMoney) -- Hey, wealthy foreigners! Want to live in the U.S.? Buy a home here.

Foreign buyer - Buy a house, get a U.S. visa

Senators 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.

Brunch at Bubby's

Brunch 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.

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 中央公園 房地產

美國 紐約 中央公園 房地產

Manhattan 3Q 2011 rents increase, concessions disappear

3Q 2011 average rent in Manhattan, net of concessions, increased by 6.9% to $3,491 according to the Miller Samuel Rental Market Report.

Searching for New York luxury apartment with water views

Searching 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.

Eataly

Darren 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.

Love 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 Jobs

New York ranked #1 globally for property investment

New 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.

Manhattan New York Property Report 3Q 2011

Manhattan, 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.

Stocks vs Property

Stocks 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.