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Enjoy my video for November! We’ll explore what neighborhood I think is best for investors RIGHT NOW.Read more

I spent a few weekends this past winter heading out to Bushwick, Bed Stuy, Stuyvesant Heights trying to understand the investment upside. I was seeing townhouses with asking prices of $1-2mm, all renovated, with promised returns of 5-6%. That is, a net return of $50,000-60,000 per year on a purchase price of roughly $1,000,000. Typical,Read more

Last month I wrote that I enjoyed how well-appointed the new developments are in this real cycle, as opposed to in 2004-2008. Now, almost every building offers far higher prices and delivers commensurate finishes. Of course, a few buildings were built and designed as rentals, and converted to condominium to take advantage of a risingRead more

As I’m writing this, we remain in the middle of a full-fledged seller’s market, not to mention a lovely summer – barring the last couple of muggy days. Just as geographically regional clothing style (or regionality in general) seems to be fading, as information transmits more quickly than ever, so, too, am I reading articlesRead more

Hope you have enjoyed what has transpired thus far in the World Cup! USA! USA! USA! Ah! This real estate market is so frustrating Looking at the New York City Real Estate market, this game is shifting day-to-day with its own surprises. But in the market, the rules seem to shift continually, and adjusting andRead more

Almost all the latest indicators point to a strengthening local economy. Lower mortgage rates, averaging 4.28%, down a few basis points – a year ago, rates were averaging 3.52% Over 91,000 jobs added in NYC over the last year A push for less Federal involvement in mortgages, which should make mortgages easier to get! UnemploymentRead more

So we were discussing the possible motivators at the high end. Clearly, the sales which have recently recorded, or units gone into contract have motivated some sellers to list. For example, we have a combination at 502 Park; an absurd price at 50 Central Park South, given the Steve Wynn purchase recently; Lots of greatRead more

Very few units have hit the Spring market. 422 west 20th is one of them. Nearly everything was in contract by the time the word spread; the west chelsea adherents snapped up the units quite quickly. My feeling on the building was that it attracts a narrower band of buyer than is typically meant toRead more