Best size investment apartment to rent out in NYC

Best size investment apartment to rent out in NYC — The size of condo apartments for investment in Manhattan range from a studio to 4-bedroom+. Our role as a buyer’s broker is to advise clients on what is the right apartment, and we go through the process of identifying what’s a good buy.

Read the full article here: Best size investment apartment to rent out in NYC

353 West 56th Street #7E

South-facing Alcove Studio on 7th floor with plenty of sunlight.

Apartment was recently renovated. Windowed kitchen, hardwood floors, beamed high ceilings. Kitchen has granite countertop, Subway tile backsplash. Bathroom has tiles throughout and brushed nickel fixtures.

Property Address: 353 West 56th Street #7E, New York, NY 10019
Monthly Rent: $3,495

View the listing here: 353 West 56th Street #7E

Property investment in New York

Investing in New York property, particularly in Manhattan, is a wise move often favored by successful individuals for portfolio diversification. For foreigners, it serves as a secure asset haven due to limited supply, high demand from locals, and global investors, offering a hedge against inflation, political uncertainty, trade disruptions, and currency fluctuations.

Read the full article here: Property investment in New York

Manhattan Property Market Update

Q2'2023 data from Miller Samuel reveals that the average price per square foot for a Manhattan condo is now $2,025, marking a 5% drop from last year. The number of sales also decreased significantly, with a 38.3% decline compared to the previous year, mainly due to the interest rate hikes by the Federal Reserve. Consequently, mortgage rates have more than doubled since 2021/early 2022, making it considerably costlier for buyers seeking financing. The median sales price currently stands at $1.675 million, representing an 11% decrease from last year.

Read the full article here: Manhattan Property Market Update

91 Leonard, #12C, New York, NY 10013

Almost 2,000 sqft, 3-bedroom / 3.5 baths luxury condo in Tribeca with views facing East and West. Lots of natural light.

This spacious apartment features high ceilings, a dining area, almost floor-to-ceiling windows and oak flooring. The high-end open kitchen has Poliform cabinetry, Gaggenau appliances, Tundra Gray countertops. Bathrooms come with Bardiglio marble floors, Watermark fixtures, Poliform vanities, heated floors.

Property Address: 91 Leonard Street, #12C, New York, NY 10013
Rent: $17,950; Furnished $21,000

View the listing here: 91 Leonard, #12C, New York, NY 10013

New York Apartment Prices

We were in a buyer’s market, but since Spring, activity has increased again. Those waiting on the sidelines have come back into the market and the market is now in neutral territory. All cash buyers still have an advantage.

Read the full article here: New York Apartment Prices