How to select the right investment condo in Manhattan for letting out

 

The rental market suffered a lot as a result of Covid – prices were down 25 percent, inventory was up 3x and vacancy rate was up 5x.

Investing in Manhattan property has been challenging because of that but we still managed to let out an investor client’s condo in one week. To be able to do that, here are the three key attributes that we evaluate when choosing a good property investment for clients – the location, the building and the apartment within the building.

Read full article here: How to select the right investment condo in Manhattan for letting out

Engaging property agent in Manhattan, New York

 

Engaging a property agent when looking to buy in Manhattan, New York is a critical part of the buying process.

This is because in the U.S., there is a buyer’s agent and a seller’s agent.  The buyer’s agent represents the interest of the buyer while the seller’s agent represents the interest of the seller.  

Read full article here: Engaging property agent in Manhattan, New York

Process of buying property in New York

 

Weimin Tan gives an overview on the process of buying property in New York.

Read more here: Process of buying property in New York

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, lowered pricing from the pandemic, pent up demand from 2020 and overall optimism from the Covid vaccines.

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

Manhattan, now a seller's market

 

Manhattan now a seller's market.  Notice the consistent rise since July 2020.  All that pent up demand and low rates.

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

One of the few tips I gave in an interview with Business Insider that never gets old.

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

Pros and Cons of New Property Launches in Manhattan

 

Investor buyers can buy into new property launches in Manhattan, New York and as with any investment, there are pros and cons. Buying into new launches means visiting the sales office and reviewing material and floor plans before the building is completed. Buyer puts down a reservation deposit and the balance is paid when the project is completed, usually in 1.5 or two years.

Read full article here: Pros and Cons of New Property Launches in Manhattan

May 2021 Manhattan Market Overview

Manhattan property broker, Weimin Tan, gives an overview of the current situation of the Manhattan property market. Weimin discussed a few points including the 30-year fixed mortgage rates, historical price trend, active supply, pipeline contracts which refers to contracts in the pipeline waiting to close and contracts signed where we are at the 8th week of 300+ contracts signed in a week. 

Weimin also tackled Manhattan's market pulse, wherein you can see that the sentiment has changed from a buyer's market to a seller's market. Lastly, he showed that the trend right now is that buyers are into larger apartments now as a result of the pandemic.

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How global clients take advantage of the historically low 30-year fixed mortgage rates

 

Manhattan property agent Weimin Tan discusses how global clients are taking advantage of the historically low 30-year fixed mortgage rates where the average from 1972 to 2020 was 7.9%

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