The Risk for Overseas Investors Is Not the Manhattan Market—It’s Entering Incorrectly

When international buyers set their sights on Manhattan, they often focus on the overall market trend. But the real pitfalls lie in the details of how they enter.

Read the full article here: The Risk for Overseas Investors Is Not the Manhattan Market—It’s Entering Incorrectly

Three of the four billionaire condos in Manhattan. We were negotiating on one recently but that deal didn't happen.

Visit our website to learn more: https://www.castle-avenue.com/

Demystifying NYC Mortgages for International Buyers: Your Guide to Owning a Piece of the Big Apple

Overview of New York mortgages for international buyers. A comprehensive guide to navigating the financing landscape of NYC property.

Read the full article here: Demystifying NYC Mortgages for International Buyers: Your Guide to Owning a Piece of the Big Apple

How inflation impacts Manhattan property

The Manhattan property market suffered from Covid in 2020 and became a buyer’s market. In 2021, Manhattan rebounded and sales volume in 2021 was the highest ever recorded. Now in 2022, we are again in a buyer’s market because of inflation. Inflation led to the Federal Reserve increasing interest rates, which led to more than doubling of mortgage rates.

Read full article here: How inflation impacts Manhattan property

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If Manhattan's historical price trend can be guidance.

Visit our website: castle-avenue.com

Rising 30 year mortgage rate driving Manhattan property sales volume

Manhattan real estate agent Wei Min Tan provides a 2-minute overview on the historical trend of the 30 year fixed mortgage rate, and how it affects the Manhattan property sales volume.
The latest data shows that the 30 year fixed mortgage rate from the third week of January 2022 was at 3.56 percent.  Rates have been going up because of inflation.  This is one reason why investors are coming into the market, to take advantage of still historically low rates because the 30-year fixed mortgage is a great product.
Read full article here: Rising 30 year mortgage rate driving Manhattan property sales volume

 

Monthly Manhattan market update.

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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

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

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

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

Negotiating New York property

 

The most important thing to remember when negotiating is to always be nice.  People want to do deals with people they like. The key is to get the other side to open up to you and to want to do a deal with you.

Read full article here: Negotiation: Be Nice

Manhattan freehold condo, high rental return, close to MRT

 

Manhattan freehold condo with high rental return and close to MRT, United Nations, Citigroup Center, Blackstone, Blackrock headquarters.  Analysis of the key drivers behind the purchase decision.

Read full article here: Manhattan freehold condo, high rental return, close to MRT

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?

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!

Manhattan Property Attracts Buyers from Hong Kong and China

Cover Story:  Manhattan Property Attracts Investors From Hong Kong and Mainland China
Hong Kong and mainland investors see the Big Apple as a less risky place to buy

Wednesday, 29 August, 2012, 12:00am

Peggy Sito

Hong Kong resident Jacky Yeung is going to complete the purchase of two Manhattan flats in one go.

Like many buyers of New York property, the purchases were made, he said, based on the drawcard of the city's status as an international financial centre.

Manhattan Property update

The latest Manhattan property news is that the penthouse at Extell Development's One57 sold for more than $90 million, equivalent to about $8,000 per square foot.  Accordingly, this is a "bargain" compared to the $13,000 per square foot paid for the penthouse at 15 Central Park West.

Green Habits for New York living

Green Habits for New York living.  These are easy to implement green habits that I do.  It's healthy, saves money and helps our earth.

Better returns than Manhattan property

CNNmoney.com looked at the appreciation of several French wines over the past 25 years and Chateau Lafite Rothschild had the appreciation rates shown below.


One of the few investments (provided you don't drink it) that exceeds the return on Manhattan property.  Now, I am referring to something that provides consistent return, not the volatile hedge fund / bubble property stuff.

Dr Dooms buy Manhattan property

Dr Dooms buying Manhattan property

South China Morning Post, Hong Kong's English daily, reported the following:

1.  Nouriel Roubini and John Taylor, the Dr Dooms of the financial world for all their pessimistic predictions, have bought property in Manhattan.  Roubini, a New York University professor, bought a $5.5 million condo.  John Taylor, who runs hedge fund FX Concepts, also bought an apartment.  Meanwhile, John Paulson, who earned $15 billion for his firm in a year and is amongst the world's billionaires, bought a $2.85 million apartment at Olympic Tower on Fifth Avenue.

2.  Wall Street's optimism is driven by a much larger bonus pool in 2010.

3.  On a global context, Manhattan property is cheap.  A 3000sf luxury apartment in London would cost $7.5 million, while in Hong Kong, $5 million.  A New York apartment of that size would be $4.5 million.

If the Dr Dooms are buying, it must be good for Manhattan?