Manhattan Buyers’ Market Widens

Sellers are still in Lala land. Everyone thinks it’s their god given right to make money on their apartment. Wrong. Sellers, if you’re looking to move your unit, do so now; it’s not getting better anytime soon. And it won’t be this good again for a while.

Some sellers are pulling their listings and/or offering for rent now. I wonder how many condo investors are reconsidering their disposition strategies. The time to sell an. Investor unit would have been 2-3 years ago when both prices and rents were higher. Given the size of this market, this could be a somewhat tumultuous year ahead.

Have you seen any numbers on units which were on the market for sale which are now for rent?

I am traveling at the moment but there were a couple of units pulled from the sales market at the Parc Vendome where I am still interested in buying into (again)and resisted for rent. One was rented already. I have some of the details at home.

Enjoy your trip.