Sponsor Condos in Manhattan, Art of The Deal

Sponsor condos in Manhattan, New York refers to condos being sold by the developer and not by an individual unit owner.  The sponsor is the developer who either launched or converted the condominium property project.

The art is in selecting the right condo project based on a solid understanding of the current market, neighborhood, product type and demand/supply.

Read full article here: Sponsor Condos in Manhattan, Art of The Deal

Sponsor Condos in Manhattan, Art of the Deal

Just wrote, Sponsor Condos in Manhattan, Art of the Deal.  In this article, I describe what are sponsor condos, how they differ from a resale condo and the art of getting a winning deal.

Manhattan property deals

The Manhattan property market is the most efficient in the world because all data is public and real estate is a local hobby to anyone who owns property.  Given the amount of money involved and the amount of time buyers devote to analyzing a purchase, I would argue Manhattan real estate is  even more efficient than the blue chip stock market.

"Get me a good deal," "I only want a great deal" are famous buyer demands.  Didn't I mention it's the most efficient market?  Then how does one expect to buy something priced 20% below market?  This is not Detroit.