i specialize in high end luxury real estate in NYC. Condos, townhouses etc. If youre looking to buy then shoot me a message
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Nyc condo market will be flat or going down, no upside for years.
Not flat. Has been going down market big time buyers market and it’s only going to get better.
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Why buy a cramped 1,200 sqft condo in the city for $1mm when you could go out to Long Island and get a mini mansion with a pool for the same price? Honestly what's your retort to that?
Haha most likely it will be 700-900 sqft for 1M. Well to your question, time and location are money, not to be cliche. Do you want to commute 90 minutes to work or walk or take a 10 min cab to work?
Not very strong argument. North shore is 40 mins away from midtown as well as Scardale and New Rochelle. I was considering one of those condos but then realized I might as well just rent for 2-3 years for the experience while I'm saving for the actual house. I don't know anyone who hasn't done that actually.
I feel like you can’t get anything for 1M. I know a couple that has a TC of 750k+ / year and doesn’t feel comfortable buying a 2M property and paying a 10K mortgage
That’s interesting. 750k couples can easily afford the payment on 2M mortgage. 1M is basically the entry level 1 bed luxury apartments. They won’t be super high end and huge but will be in a good location and easy commute to work
Sushi , mind sharing few links to properties ?
Budget? Location/neighborhood?
Just for reference these are the type of buildings I work with. https://skylinetowerlic.com/?gclid=EAIaIQobChMIiqHvjcCj5QIVBJyzCh0o3wNWEAAYASAAEgINU_D_BwE
Living in NYC also means paying city income tax, I think it’s 4%.
Yeah taxes suck here. It’s the city for only high TC people if you want to live comfortably
Um no, to live comfortably in NYC you're beyond the point of TC, you're in the wind fall profits or trust fund category.
Define "high TC"
Well it’s up to interpretation but generally enough for you to spend 1M+ on a condo. So maybe $250k plus ideally
You get nothing livable for 1m in NYC