Foreign Buyer Guide

 

Most important questions for a foreigner buying property in Manhattan, New York. Includes property type, sizes and prices, rental yield, structuring.

Read full article here: Foreign Buyer Guide

 

20 years ago and 25 lbs heavier

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Best Reads of 2021

 

This year, I probably read between 60 to 75 books. The below were the 10 most memorable which I consider my best reads in 2021. Perhaps you may find them interesting as well.

Read full article here: Best Reads of 2021

 

Goldman Sachs' GDP growth expectation.

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Monthly Manhattan market update.

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There is a universal language when evaluating Manhattan real estate - Math. Numbers don't lie and have an amazing way of connecting people.

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Recent 5-star rating given by an investor client.

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U.S. Inflation Rate and Manhattan Real Estate

 

New York property agent Wei Min Tan explains how the U.S inflation rate affects Manhattan real estate, and why investors from all over the world are buying Manhattan real estate.

Read full article here: U.S. Inflation Rate and Manhattan Real Estate

November Manhattan Property Market Update

 

The three key points to note in the November Manhattan property market update are:

1. Supply is down

2. Signed contracts up

3. Median price cut at 5%

Read full article here: November Manhattan Property Market Update

Monthly Manhattan condo market update.

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New York property investing strategies

 

New York (Manhattan) property investing strategies for the residential condominium market are focused on the $1 million to $4 million price point. The below are three strategies we use when recommending investment buys to our clients.

1. Full service condo in high demand building

2. Ultra luxury building for above market appreciation

3. Pre-construction new development

Read full article here: New York Property Investing Strategies

Buying Manhattan apartment with outdoor space

The three key points when buying a Manhattan apartment with outdoor space are:

1. Rare luxury

2. Types: Balcony, Terrace, Loggia

3. Premium

Read full article here: Buying Manhattan apartment with outdoor space

Condo viewing with a client featured on NBC's Open House NYC

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Goldman Sach's Forecast

 

Goldman Sach's forecast.

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Is now a good time to invest in Manhattan, New York residential property?

 

The Manhattan, New York residential property market is recovering from Covid and currently it’s a seller’s market. This is driven by low mortgage rates, pent up demand from 2020, the economic recovery and overall optimism as more than 70 percent of New Yorkers have been vaccinated. The streets of NYC feel very normal these days and will be 100% when everyone is back at the office.

Read full article here: Is now a good time to invest in Manhattan, New York residential property?

Received a 5-star client review in Google.

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Manhattan Condo Historical Price Trend

 

Graph above shows historical appreciation trend of Manhattan residential condominiums in terms of average price per square foot. In Q2’2021 and Q3’2021, prices increased to $1,921 and $1,881 per sqft respectively. Sales volume in Q3 was the highest in 32 years, driven by low mortgage rates, pent up demand from 2020 and reopening of the New York economy. Read full article here: Manhattan Condo Historical Price Trend

Manhattan condos Q3'2021

 

Key points to note in Manhattan condos Q3'2021.

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Investing in Chelsea

 

Manhattan property agent Weimin Tan on notable Chelsea and West Chelsea condo developments including upsides and downsides.

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 here: Investing in Chelsea

October 2021 Manhattan Property Market Update

 

3-minute October 2021 update on Manhattan property market by Wei Min Tan. Key points to note are:

1. Q3 sales volume highest in 32 years

2. Growth in $4M+ apartments

3. Inventory down

Read full article here: October 2021 Manhattan Property Market Update

Tech firms expanding in Manhattan

 

Google, Roku and Microsoft are among the tech firms in talks on expanding in Manhattan. Amazon and Facebook have also explored options to expand their offices.

Read full article here: Tech firms expanding in Manhattan

New York property report: Q3’2021 Manhattan condo market

 

Q3’2021 sales volume was the highest in 32 years. This is driven by low mortgage rates, rising vaccination adoption and improving economic conditions. Meanwhile, the rental market is extremely hot as thousands of people move back into Manhattan. Our clients’ condo units rented out in 1-2 days with multiple offers above asking price!

Read full article here: New York Property Report

 

Our strategy of selecting distinguished prewar condos.

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Rented client's condo in 1 day!

 

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Just Closed

 

Just closed!

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Condo viewing with client in UES.

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1-minute Manhattan rental market update

 

The Manhattan rental market is very hot right now. The three key points to note in this 1-minute rental market update are:

1. 50-70 percent rent increases

2. People moving back to Manhattan

3. No inventory

Read full article here: 1-minute Manhattan rental market update

New York condominium broker focusing on investors

 

Weimin Tan is a New York condominium broker focusing on investor buyers from all over the world. He only represents residential condominium transactions which is a niche segment within the Manhattan property market.

Wei Min focuses on the 19 percent of single family property inventory that are condos, hence is an expert on this market. He knows every condo building and within them, the good apartments currently on the market. Being a New York condo broker is a differentiating factor.

Read full article here: New York condominium broker focusing on investors

The bitterness of poor quality lasts long after the sweetness of a low price is forgotten.

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September 2021 Manhattan Real Estate Market Update

The key points to note in the September 2021 Manhattan real estate market update are:

1. Limited sale supply

2. Low mortgage rates

3. Hot rental market

Read full article here: September 2021 Manhattan Real Estate Market Update

 

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Historical trend of 30 year fixed mortgage rate

 

Manhattan, New York property broker Weimin Tan provides a 2 minute overview on the historical trend of the 30 year fixed mortgage rate, with data from 1972 to 2021.

Read full article here: Historical trend of 30 year fixed mortgage rate

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.

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Manhattan property discount to asking price

 

Manhattan property discount to asking price shows how much we can negotiate off the shown price.

The most recent discount to original asking price (July 2021) was 3.7 percent, while the discount to the last asking price was 3.5 percent. This shows it is a seller’s market and there is minimal price reduction before property is sold.

Read full article here: Manhattan property discount to asking price