Investing in Brooklyn property talks about several Brooklyn neighbrohoods - Brooklyn Heights, Downtown Brooklyn, DUMBO, as an investment alternative to Manhattan.
Sunday, January 5, 2020
Facebook and Amazon Expanding in Manhattan
Just wrote article, Facebook and Amazon are expanding in Manhattan. Facebook is in talks to lease 700,000 square feet opposite Penn Station.Along with Google’s expansion of 1.3 million square feet in Hudson Square, New York is becoming the East Coast’s tech hub.
Wednesday, September 25, 2019
One in Four New Luxury Apartments in Manhattan Are Unsold
Summary of the New York Times article that reports one in four luxury new apartments in Manhattan are unsold. This amounts to about 4,000 units out of the 16,000 new condo units built since 2013. The major oversupply areas are Billionaire's Row and Hudson Yards.
Friday, September 6, 2019
Property investment in New York
Property investment in New York is a recent article I wrote about why New York is the #1 ranked city globally for foreign investment. The article references the Wealth Report and summarizes price points of different apartment sizes in New York, the pricing correction of 2017 to 2019, where to find property listings and why New York is good for investor buyers.
Rules for foreigners buying New York property
Rules for foreigners investing in New York property summarizes the key points for potential foreign investors.
Points covered include FIRPTA withholding tax, whether there is extra stamp duty and estate tax. A great overview before doing the deep dive.
Tuesday, August 13, 2019
How to Invest in Manhattan Property
How to invest in Manhattan property for foreign buyers.
Article covers whether foreigners can buy Manhattan property, transparency of property inventory, prices and a brief comparison of new development vs resale.
Friday, August 9, 2019
Manhattan Q2 Condo Prices
According to the Miller Samuel/Elliman Report, Q2 sales volume of Manhattan condos increased by 26 percent, the highest increase in three years.
Median price of a Manhattan condo at $1.70 million was up 3 percent. It was the first year over year increase in seven quarters.
Price per square foot was $2,077, down 1.8 percent from a year ago. Average price was $2.83 million, down 4.5 percent vs year ago.
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