Got a chance last year to be featured on Cheddar TV to talk on how a buyer can protect against a lower appraisal amount by using a mortgage contingency.

View my media appearances here: https://www.castle-avenue.com/media.html

Manhattan Luxury Condos for Sale

Luxury condos are generally defined as $2,500 per sqft and above, while $4,000 and above is considered ultra luxury.

Manhattan, New York luxury condos for sale are all accessible through the database here: Manhattan Luxury Condos for Sale

New York Apartment Prices Q1, 2022

Q1’2022 condo sales volume was up more than 50 percent vs a year ago. This marks the highest first quarter sales in 15 years of tracking. Various metrics show that we are now back to pre-pandemic levels.  The strong sales numbers was driven by the (still) low mortgage rates although rates have been rising since 2021, pent up demand and overall optimism from reopening of the economy.

Meanwhile, the rental market is also strong as rental price per sqft increased 21 percent. Vacancy rate for March 2022 was 1.89 percent, compared to 11.25 percent a year ago. This is because of people moving back into Manhattan as companies no longer allow full time work-from-home.

Read full article here: New York Apartment Prices Q1, 2022

Best Manhattan, New York Penthouses

Owning a condo penthouse in Manhattan is a global status symbol. Penthouses are the best apartment(s) in a building. It can be on the top floor of a super luxury tower like 432 Park Avenue or the biggest apartment in a low density Soho or Tribeca building with 10 floors.

Here are the best Manhattan penthouse condominium apartments on the market currently: Best Manhattan, New York Penthouses

How to Invest in Manhattan Property, Profit and Repeat

Manhattan, New York is the world’s investment property mecca.  It is one of only two Alpha++ cities in the world.  This article focuses on how to invest in Manhattan residential condominium property, realize profits and repeat to grow a portfolio over time. Investors profit from steady appreciation, driven by global and local demand, and limited supply.

Read full article here: How to Invest in Manhattan Property, Profit and Repeat

May 2022 Manhattan Property Market Update

The key points for the May 2022 Manhattan Property Market Update are recession concerns, strong buyer demand and rents going up/high cap rates.

Read full article here: May 2022 Manhattan Property Market Update

Average Manhattan, New York Apartment Prices

The average sale price for a condo ranges from $908,991 for a studio apartment to $9,846,869 for 4+ bedroom apartments.  Meanwhile, the average price per square foot ranges from $1,138 for a studio to $2,738 for 4+ bedroom apartments.

The average price per square foot for a co-op is roughly 50 percent lower than that of a condo.  Average sale price for a co-op  ranges from $553,734 for a studio to $5,109,433 for a 4+ bedroom apartment.  The average price square foot ranges from $852 to $1,596.

Read full article here: Average Manhattan, New York Apartment Prices

2022 Cost of Manhattan, New York Flats

Based on the most recent data, the median cost of a 2-bedroom Manhattan, New York condo flat was $2.3 million, while the median cost of a 2-bedroom co-op was $1.34 million. We can see that the price of a 2-bedroom condo is 71 percent higher than that of a co-op. Looking at three bedrooms, the median price of a 3-bedroom condo flat in Manhattan was $3.7 million, 68 percent higher than a 3-bedroom co-op which was at $2.2 million.

Read full article here: 2022 Cost of Manhattan, New York Flats

How recessions impact Manhattan property

Deutsche Bank recently warned of a coming recession because of high inflation, a very strong job market and spike in oil prices due to the war in Ukraine. If there is a coming recession, how will Manhattan real estate do?

Read full article here: How recessions impact Manhattan property

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