July 2022 Manhattan Property Market Update

 

The key points for the July 2022 Manhattan Property Market Update are:

1. Record median sales price and highest rents ever
2. Moving away from seller’s market
3. Opportunity in completed new developments

Read full article here: July 2022 Manhattan Property Market Update

New York Property Report: Q2'2022

New York property report: Q2’2022 condo median price rose to the highest on record at $1.882 million, a 14 percent increase compared to prior year. Average sales price showed a similar trend, increasing by 15 percent to $3.045 million. Listing inventory increased by 18 percent compared to prior quarter and provided relief to the tight supply situation as the market moves away from a seller’s market.

Read full article here: New York Property Report

 

Our client's extra large 1-bedroom apartment facing north with tree-line views!

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

Buying New Condo in Manhattan, Tips for the Foreigner

Buying new condos in Manhattan is a strategy that many of our foreign clients pursue. The objectives are either for rental return or for use as vacation home. By the time a foreign investor client reaches out to me, he would have researched extensively online and have a strong understanding of the Manhattan market.

In addition, the client would have read a lot of my articles on the subject of investing in Manhattan condos.  Still, there are many questions.  Understandably, buying a condo in a different country is a major undertaking. 

Here are some tips for foreign investors: Buying New Condo in Manhattan, Tips for the Foreigner

Best Areas to Invest in Manhattan

What is the best area to invest in property in Manhattan? This is perhaps the most common question we get from buyer clients.  Answer is, going back to my Finance class from 20+ years ago, It Depends. There is no best area per se as it depends on the buyer’s objectives and long term goals. Objectives include price point, holding period and whether the buyer intends to rent it out or hold as a vacation home.

Read full article here: Best Areas to Invest in Manhattan

Media Appearances, Interviews and Written Articles.

View more of my media appearances, interviews and written articles here: Wei Min on CNN, CNBC, Wall Street Journal

Here's another great feedback from a client of ours!

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