Parents buying apartment for child attending Columbia University / NYU

 

Parents buying an apartment for a child attending Columbia University or New York University (NYU) is a strategic play that many of our clients do. Indeed, the cost of sending a child to one of these prestigious New York universities is already very high. To buy a condo apartment dramatically increases the cost. Why do it? Here is how we analyze the situation of whether to buy a condo for the student attending college.

Read the full article here: Parents buying apartment for child attending Columbia University / NYU

Investing in a Manhattan penthouse apartment

Investing in a Manhattan penthouse apartment.  There are downsides as well, such as the elevator stop is always local.  Of course, the benefits of a penthouse unit include the best views, light, feel good factor and numerous other soft perks.

International Investors in Manhattan Apartments, 3 Crucial Tips

International Investors in Manhattan Apartments, 3 Crucial Tips attempts to bring clarity to international investors currently searching for a Manhattan condo.  I understand the information overload out there.  The three key tips are to get local expertise (not rely on a friend), get a good lawyer and a dependable bank.

Investing in a Soho apartment, key tips

Investing in a Soho apartment provides 5 tips on the upsides and downsides about a Soho condo.  Soho is the most glamorous address in Manhattan and the vibe is extra special.  That is why prices are $2,500 per sqft.  But do you know Soho living means limited or no amenities?

Why Billionaires Are Investing In New York Apartments

Two days ago, I created a chart showing the investment performance of New York apartments vs key stock indices.  Business Insider picked it up, had an article about it and called it, "One Chart Explains Why Billionaires Are Investing In New York Apartments."

Yes, you'll have to click on the link to read the chart and article.

5 Tips On Buying Apartment In New York

New York's position as a top global city has always attracted property investors both local and foreign.  To local New Yorkers, they believe in New York (which is why they live here in the first place) while to foreigners, New York is recognized as a safe haven for asset diversification.  

Buying apartment in New York - insights, surprises, points of view

Buying an apartment in New York is an experience that ranges from scary for the first time international property investor to weekend shopping for a seasoned, high net worth, individual.  In both cases, the buyer is venturing into a different country.  The rules of the game are different, laws are different, you're wary on who can be trusted etc....

I've been on a writing spell the past week hence would like to share some insights from working with clients from all over the world when buying an apartment here in New York.

Manhattan Investment Condominium Buyer's Broker

I am a Manhattan, New York investment condominium buyer's broker with a focus on foreign buyers.  It's a very specific niche representing probably 3% of transactions in Manhattan.

Manhattan Apartment Sales Highest Since Crash

The Wall Street Journal, in the article Manhattan Sales Continue To Climb, reported that Manhattan apartment sales is at the highest level since the crash.

Sales in the third quarter of 2012 was up 9.3% compared to last year.  This is also the highest sales pace since the third quarter of 2008 when a financial crisis was triggered by the collapse of Lehman Brothers.

Floor premium with Manhattan apartments

Analysis on floor premium in Manhattan residential buildings from New York Magazine and Miller Samuel.  Shows 1-1.5% premium per floor.  Increases to 2% per floor at the higher floors.  This uses 301 W 57 as example.

Sunday Apartment Preview

Previewed 7 apartments today, finishing at Century, 25 Central Park West.

Previewing apartments is something all good brokers should do.  I realize, from personal experience as a buyer, that most brokers don't preview apartments that they bring clients to.  In fact, many use the clients as the opportunity to look at more apartments.

Searching for New York luxury apartment with water views

Searching for luxury apartment with water views on NBC's Open House NYC.



Wei Min brings client Mei to view luxury apartments with water views at the $2 million price point.  The client is looking for water views, high ceiling, close to a park.

China's wealthy buying New York luxury condo apartments

Wealthy buyers from mainland China buying New York luxury condos.  New York Times article in which I was interviewed.

The boxy glass 15 Union Square West appeals to Chinese buyers, brokers say.

By CLAIRE WILSON

Published: August 12, 2011

New York apartment rent increase 8%

Manhattan New York July 2011 average monthly apartment rent increased 8% to $3,358 compared to a year ago.  This is just $36 shy of the record of May 2007.  The vacancy rate was at 0.86%, the lowest in the nation.