Supply Keeps Decreasing

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Investing in Brooklyn

 

Investing in Brooklyn property is a strategy our investor clients take to benefit from the better price value compared to Manhattan.

However, it depends on the area within Brooklyn. Certain neighborhoods in Brooklyn could be more expensive than Manhattan. Brooklyn is the most populous borough of New York City with 2.6 million people out of New York City’s 8.6 million. Brooklyn has developed a global reputation. It’s common to see kids in Asia wearing T-shirts or caps with “Brooklyn” on it. Brooklyn is mentioned in countless songs and is associated with character and coolness.

Read the full article here: Investing in Brooklyn property for asset diversification

Contract activity has surpassed historical average

Contracts in pipeline +44% vs last year. Contracts signed last week +46% vs last year. Since Nov, contract activity has surpassed historical average. Why? Buyers locking in low mortgage rates and not wanting to miss out.

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Manhattan sale market is hot!

 

Buyers are aggressively bidding for apartments because of (1) low interest rates (2) not wanting to miss out on the covid deals which they know are ending. February is usually a slow time but transactions this February is more like that of an active Spring month! 

Yes, deals are still there, developers are negotiating and giving concessions. But it's time to move!

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

Manhattan luxury apartment, what does it mean?

Generally, a luxury building will have full service staff, very nice finishings and amenities including fitness center, residents’ lounge, roof deck, even a pool. Most of the buildings built after 2006 are luxury because developers needed to sell a higher priced product to cover the higher development costs. Most of our clients invest in luxury buildings. When renting out, the amenities are wow factors to attract tenants.

Read the full article here: Manhattan luxury apartment, what does it mean?

First TV Appearance

 

My first TV appearance. I was nervous, didn't know what to say, star struck when seeing Barbara Corcoran!

Manhattan, New York property report: weekly new listings and weekly contracts signed.

Weekly contracts signed has been increasing since July, which was the bottom of the sale market. Driven by low interest rates and not wanting to miss out, buyers are back and very active. I was looking at 2BRs for a client and 3/4 of the ones we targeted were sold!