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Why Now Is The Time To Act In The Manhattan Real...

Philosophically speaking, real estate investment, like any type of investment, is all about the flow of time. Investment is the art of learning from the past to define the action to be taken at present, so that you can benefit from it in the future. We can’t know the future with certainty, but we can predict it with a degree of probability based on the historical data, and execute an action today based on our prediction. There’s no way for this tendency to not continue. This doesn’t seem like a lot, and yet, residential sales decline, and the prices are plunging for the third quarter in a row, showing 16.6% year-over-year decline, and even the top-tier luxury apartment sales are plunging, according to a report by MarketWatch. Some Manhattan real estate experts see the change in the property taxes as the possible cause of the decline, but that decline is likely to continue for another reason: the overabundance of inventory. Since the market is already slow, and the incoming over-supply is inevitably going to soften it further, the condos and co-ops will spend increasingly more time on the market, giving buyers a wider range of choices and higher negotiating power. — but while the market continues its drift toward buyers (it may last the next three months, or the next 18 months), that’s the best time for a proactive real estate investor to take initiative and make the investment, because the prices are no longer in balance, and can be swayed (controlled through negotiation by a skilled broker). Also recently finalized was the $43.79 million condo purchase in a paparazzi-proof building favored by celebrities. Similarly, my company recently conducted a sale in a popular building in Battery Park City where the seller gave us about 20% off, which allowed the buyer to make their move.