Financial District condo values - still going up?

Started by elee_8221_1985668

over 9 years ago

Posts: 0

Member since: Jun 2016

Discussion about

Bought a condo @ 15 William St. in 2013, looking for opinions on a good time to sell. How much further appreciation can one expect down there? Obviously there's a lot of new massive inventory coming to market, i.e. 50 West, 125 Greenwich, 45 Broad St., etc. I'm also aware that a Whole Foods and potentially Trader Joe's will be arriving in same time frame as some of those developments just mentioned.

Response by CCL3

over 9 years ago

Posts: 430

Member since: Jul 2014

I can't give a specific opinion on time to sell, but I think you need to broaden your comps to other areas of Manhattan. Most people look in more than one neighborhood, so the additional inventory you will be competing against is not just in FiDi, but the rest of the stuff flooding the market as well. Also lots of new luxury developments in Downtown Brooklyn/DUMBO/Boerum Hill which are very quick commutes to FiDi.

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Response by CCL3

over 9 years ago

Posts: 430

Member since: Jul 2014

It looks like there are a fair number of listings in your building right now. Many appear to be professionally staged and listed by the same broker, so I'm guessing they are sponsor units previously held back when the building was first completed and now up for sale since the market improved. You will want to watch how many days those stay on street easy before being listed as in contract and whether there are any price increase or chops, in order to get an idea of whether the market has topped out or not.

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Response by CCL3

over 9 years ago

Posts: 430

Member since: Jul 2014

http://streeteasy.com/building/15-william-street-new_york

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