By Wei Min Tan
The 16-acre World Trade Center site has been the hottest upcoming development and the pinnacle of Downtown’s revitalization in New York for the past decade.
Showing posts with label returns. Show all posts
Showing posts with label returns. Show all posts
Tuesday, October 4, 2016
Monday, December 8, 2014
Manhattan, New York property investment performance
Manhattan, New York property has always been a destination for foreign buyers because of the associated brand recognition and for the price stability. Top reasons cited by our foreign investor clients buying apartments in Manhattan include investment diversification, stable appreciation, brand recognition and limited supply.
The media likes to talk about $10 million to $50 million Manhattan apartments because of sensationalism. In reality, 85 percent of transactions in Manhattan are for apartments priced less than $5 million. Still, the median Manhattan condominium price at $1.3 million is about seven times (7x) the median US house price. The average price per square foot of a Manhattan condo was $1,500 in 3Q'2014.
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