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.
About:
Wei Min Tan is a Manhattan, New York property broker focusing on global investors of Manhattan condominiums. Wei Min has been interviewed by CNBC, CNN, Wall Street Journal and New York Times on the Manhattan property market. Wei Min can be reached at tan@castle-avenue.com
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