3 Things To Know About The Manhattan Market
It Pays To Know Manhattan
Here are 3 facts to help you.
1) The market is getting firm at the top end. Two, three and four bedroom apartments are going quickly and the best ones are exceeding list price . At the highest end buyers rarely need mortgages, leaving only confidence in the market to determine their purchase. That confidence is returning. Premuim properties above $ 5 million are more scarce.
2) Studios and one bedroom starter apartments for young professionals are still in good supply but there is much more activity. Seasoned brokers think that $450,000 to $500,00 studios in good buildings could be a thing of the past by next summer.
3) Investors are buying. Usually they are the first to return and they are back. Multiple sales in the same building are more frequent and buyers from overseas are using strong currencies to allocate assets to the Manhattan market. Banks are lending to these investors, ending the log jam of the last wo years.
These facts are based on research and our own experience. Please feel free to call or email to find out more information. Matt@newyorkresidence.com
Houlihan Lawrence Special Edition
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Please call or email Matt Kolb
New York Residence
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Matt@NewYorkResidence.comIt Pays to know Manhattan