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Expertise to Leverage in the Trading of One Bedroom Property with Proficient Real Estate Company

Investing in properties has often proven to be very beneficial in the long term, and consulting with an expert real estate agency can help you exponentially. Although investing may seem easy at first, it requires years of experience and knowledge of the market in order to obtain the best returns.

 

Whether it is about selling a One Bedroom property in Gramercy NYC or buying a larger apartment in the Lincoln Square, the professionals have it all covered. Their expertise is not only because of experience, but also because they have access to the latest properties available for sale, rent or purchase. Due to this, they are the perfect counselors to guide you on when to purchase, sell or hold your properties. By featuring up-to-the-minute market listings, and getting and using real-time data for buyers and sellers, these agencies can help you find the best deal. 

 

One of the most trusted names for selling or buying One Bedroom apartments in Flatiron NYC, is Batra Group. This real estate boutique focuses its operation in Manhattan, Queens, and Brooklyn, and has earned a great reputation due to its specialized attention to their client’s needs. With Batra Group, clients can make their global market presence felt with an experienced in-house marketing team for individualized attention. In short, Batra Group provides big firm capabilities with boutique-style personalized services. Don’t wait and miss the opportunity to make the best return on you investment!

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Why Hire One of the Best Corporate Relocation Companies?

When it comes to starting your business, finding the right location is imperative. Because making this decision on your own may seem daunting, hiring a real estate broker can ease this task. Their professional assistance can help you locate the best commercial asset. No matter if you are engaging in Corporate Relocations in NYC or elsewhere, ensuring that you choose a noted professional is extremely important.

Corporate Relocation NYC

There are many benefits to selecting a renowned real estate company. First and foremost, you will be advised on up-to-the-minute marketing listings, and therefore, get the best options. Likewise, their vast knowledge of the market leads to the right deals at the best price.  Moreover, hiring a professional ends up saving you time. They can do all the legwork and locate potential properties quickly. Due to their developed and expansive network, you can be assured of a favorable outcome. Therefore, all you need to do is to choose one of the Best Corporate Relocation Companies, and you’ll quickly see the benefits.

If you are in need of such a service provider, then counting on Batra Group is recommended. Batra Group is a distinguished full-service real estate firm, which specializes in selling, buying, and renting properties. With their assistance, and cutting edge technology, you will receive real-time data, global media exposure, and the best deals at a cost-effective price. In conclusion, let Batra Group assist you for all your commercial property purchasing needs.

 

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Reasons Why Real Estate Agent is Needed to Sell Apartment at a Lucrative Deal

Undeniably, real estate is a long-term investment, hence, taking every single step wisely is of paramount significance. In fact, knowing when to hold your property, or putting it on sale, is a crucial part of investing. This can be especially challenging when it comes to making a decision to sell your long-term asset. In particular, if you are a novice investor, this decision can be a laborious task. Therefore, to ease your concerns, seeking the assistance of a real estate agent can be extremely advantageous.

If you want to Sell Upper West Side Apartments or Upper East Side Apartments, approaching a reliable company can help you reach the right solution. In fact, there are several reasons to seek the assistance of a real estate company when selling your asset. First, they can put your property on the market list, thus ensuring that it gets specialized attention from potential buyers. In addition, as they possess great knowledge, experience, and cutting-edge technology, real estate companies can guarantee that you will attain the right deal at optimal pricing. In simple words, with their assistance, you can definitely end up garnering the highest resale for your property. Most importantly, by having a professional by your side, you need not to worry about paperwork, as they are there to guide you through the process.

 

Consequently, if you are thinking of Selling An Apartment in Long Island City or other locations, and wish to attain these benefits, it is recommended that you rely on a reliable estate agent. One such distinguished name is Batra Group! It is a dynamic full service real estate boutique, which specializes in commercial, residential, and consulting services in Brooklyn, Queens, & Manhattan. 

By approaching Batra Group, you will receive real-time data, global media exposure, as well as expert guidance. They comprise seamless experience, thereby, letting you get a great deal at a reasonable price. Thus, if you also want to receive optimal assistance, do not hesitate to contact them!

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Significance of Getting in Touch With a Real Estate Boutique When Selling or Buying an Apartment

For many, having a place that they can call home is no less than a dream come true. This is especially accurate because you will not only attain “Immense Peace of Mind”, but also take the “Liberty of Doing Whatever You Want”. However, because there are so many options available online, searching for an apartment can be both exciting, and at the same time, extremely daunting. On the one hand, it’s great news for you, but it can also lead to a major dilemma. Hence, before purchasing your next place to live, it’s highly recommended to approach a reliable agent. 

As of now, you can find various dynamic full-service real estate boutiques specializing in Commercial, Residential, and Consulting Services. These boutiques mainly emphasize satisfying all their prestigious clients and maintaining long-term relationships with them. To attain this, they employ “Cutting Edge Technology” and “Expert Guidance” in order to ensure that you will get an excellent deal for the right place. In addition, they have a “Passionate Team of Professionals” possessing “Ample Marketing Experience” with “Extensive Expertise”. It’s something that allows them to Sell Tribeca Apartments equipped with unparalleled features at the best possible prices.

Indeed, by approaching a reliable option, you will assuredly get a chance to reap several pivotal benefits. For example, the “Specialized Attention” they offer is what makes them unique and the number one choice. In addition, they have a team of “Multilingual Members” that can assist you in order to reach more buyers when you are looking to Sell Gramercy Apartments at the highest rates. Last, but not least, they utilize “Powerful Technology”. This helps you filter out the property, which is expertly priced, staged, and marketed for “Optimal Results”.

Finally, if you want to buy or Sell Murray Hill Apartments at the best prices, approaching a trusted real estate boutique like “Batra Group can be a great solution. Due to years of experience and global marketing expertise, they will assuredly provide you with the desired results! 

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7 Trends in NYC Commercial Real Estate

New York – NYC commercial property sales hit a near-record $562B in 2018, keeping New York City at #1 in Cushman & Wakefields global capital market report of the top 50 cities for commercial real estate investment. And the outlook for the remainder of 2019 looks even more promising, with most pundits declaring that the bear market of the past few years is officially behind us.

Though the numbers look a lot like record-setting 2007, the marketplace itself couldn’t be more different. In the past decade, Amazon and WeWork have played an outsized role in redefining NYC’s commercial landscape. Amazon has hit traditional brick and mortar stores particularly hard, while WeWork has snatched up the majority commercial office space, reflecting our major shift toward a start-up and freelance gig economy. Big box retailers and fashion brands that haven’t kept up with the times are being forced to reinvent themselves, downsize or close completely. On the flip side, technology, restaurants, supermarkets and clever concept stores are soaring.

The question isn’t whether to invest in the world’s #1 global real estate market, it’s how to best capitalize on it. Here are the top trends that first-timers and long-time investors alike should consider when looking to buy or lease their next commercial property in NYC:

 

 

  1. More Business Looking to Rent Instead of Own

 

There are currently more leases being signed than purchases in the NYC commercial market. For investors, it would make more sense to prepare your property for tenants rather than trying to flip it. In fact, many building owners are preparing their own flexible WeWork style arrangements to give the co-working giant a run for its money. It will be interesting to see how successful these become.

  1. Increased Concessions on Older Buildings

    As mega-projects like Hudson Yards and One Vanderbilt come to market with over-the-top amenities and ultra-modern enhancements, landlords of older buildings are under pressure to keep up. This has translated into larger rent concessions and tenant allowances to remain competitive.

  2. Opportunities Abound in Emerging Submarkets

    Though Amazon abandoned its plan for HQ2 in Long Island City, the allure of NYC submarkets throughout Brooklyn, Queens and Bronx are very much on the rise. While Manhattan remains the most popular for investment, an increasing number of developers are drawn to the lower rents, convenient transit and easy walkability of up-and-coming neighborhoods in Northwest Queens, Downtown Brooklyn and South Bronx.

  3. New Tax Law Expected to Benefit Low-Income Neighborhoods

While the overall effect of the new tax law has not been fully realized, one program in particular has investors optimistic. The Opportunity Zones program offers tax benefits to investors in designated low-income communities ripe for redevelopment. Most pundits agree this will have a positive effect on the market.

  1. Steady Interest Rates Point to a Robust Market

When interest rates began to rise in 2019, many investors remained wary of the year ahead. But this concern was short lived. Instead, the Fed announced last month that they will hold rates steady and indicated no more hikes would be coming this year. Investors breathed a collective sigh of relief as all signs now point to a robust rest of the year.

  1. Unique Concept Stores are Hot

The big story in commercial real estate has been the rise of WeWork and other co-working outfits, along with the decline of traditional brick-and-mortar stores. The recent closings of Tommy Hilfiger, Payless, Gap, Victoria Secret and JC Penny speak loud and clear of the need to reinvent or face extinction. Many big box retailers and established older brands are finding ways to create “experiences” in their stores that will keep them relevant. The opportunity for clever concept stores has never been greater. From unique fitness experiences to chromotherapy spas to a pencil paradise store to a hot sauce tasting boutique, New York retail is creating new “must see” locales for more targeted audiences. Another emerging strategy is to offer ways to pick up or return e-commerce purchases onsite in the hope that they make additional in-store purchases while there.

  1. Big Tech & Supermarkets Are Thriving

The big winners in the changing commercial landscape have been technology companies and supermarkets, as well as restaurants. Google’s $2.4B purchase of the Chelsea Market building and Amazon now setting its sights on Manhattan’s Brookfield Place are indicative of a major move by tech companies to establish a footprint in New York City. Brand like Spotify and Peloton are also planning to raise their profile here. Supermarkets are also experiencing steady growth, as New York City doesn’t appear to be as impacted by the popular warehouse clubs and mass merchandisers that have been disruptive elsewhere. Buoyed by the strong economy, restaurants are also experiencing good times.

 

New York City remains the #1 global investment capital in the world. Yet, the changing face of the marketplace is something all investors should be mindful of when choosing where to invest.

For more information on NYC commercial real estate services, contact Batra Group at (646) 202-1877.

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Top 5 Reasons to Use a Buyer’s Real Estate Agent

New York – Buying a home without hiring a broker may seem like a smart way to save money. The technology is certainly there to go it alone. You can search and compare listings, get useful advice, and contact the seller or sales agent directly.

However, the agent-less approach is not likely to save you much at all, and in fact, may even cost you more in the long run. Here’s why:

 

  1. Agents provide invaluable knowledge

Buyer’s agents are trained in every aspect of home sales from search to close, including appraisals, inspections, financials, board approvals, and more. They use this valuable experience to make an otherwise complex process flow smoothly and serve your best interests at every turn. Buyer’s agents are required to keep what you tell them confidential and disclose to you anything they know about a property that might affect your decision to purchase it. Board package help? Financials review? Repairs needed? Any problems in the building? They’ll check for everything, and make sure they guide you to a place you’ll be happy with now and in the future.

  1. You will pay a commission either way

Both the seller and buyer agent commissions are already built into the sales agreement before the listing hits the market. Eliminating the buyer’s broker does not eliminate that commission. Rather, in the absence of your own representation, the seller’s broker becomes a dual agent and receives both commissions accordingly. Sure, the broker can negotiate down the commission a bit, knowing he has a double bonus on his hands. But make no mistake. The seller’s broker has fiduciary duty to the seller, including reasonable care, undivided loyalty, confidentiality, full disclosure, obedience and duty to account. His first and most important role is to get the seller the highest price in the shortest timeframe possible. A seller’s agent does not represent the interests of the buyer. Many legal advisors recommend against dual agency for this inherent conflict of interest.

  1. They have all the right connections

Real estate agents have connections for just about everything, from home inspectors and attorneys to mortgage brokers, designers and more. If you need help immediately with an inspection, for example, your agent can help you meet the deadline by calling in a favor to someone already in their network.

  1. They are expert negotiators

Your agent knows that there’s more to negotiation that simply agreeing on a price. Any repairs, liens, or tax issues associated with this property are all considered up front and dealt with. Your agent then applies his experience from similar transactions, makes strategic recommendations, and gets your buy-in before making an offer. Together you will evaluate the pros and cons of each offer or counteroffer, and work closely to get the best possible deal that suits your needs.

  1. They give you peace of mind

Buying a home involves a lot of complex paperwork and deadlines. The right agent will ensure that the process runs smoothly for you and that nothing important is missed. Co-op and Condo boards in New York have very strict personal and financial requirements. Your agent will help you prepare your finances and guide you on winning board approval. The last thing you want is to try to save on the broker fee, but then not get approved.

 

According to the National Association of Realtors, 87% of buyers use a real estate agent, and it’s easy to see why. Direct-to-seller transactions typically favor the seller and leave the buyer at a disadvantage. Instead, align yourself with a buyer’s agent that has your interests at heart, so you can buy with confidence. And yes, save money too.

For more information on Buyer’s Real Estate Agents or any real estate question you may have, contact Batra Group at (646) 202-1877.

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5 Essential Steps to Sell Your Apartment in NYC

 

So, you’ve decided to sell your home in New York City. Congratulations! While this is typically an exciting time, it can also be overwhelming as there is much planning and effort that goes into selling a home. Thank goodness NYC is among the most investor-friendly cities in the world for residential real estate, with homes perennially appreciating in value. This means you are likely to sell your NYC apartment at a higher price than you originally paid for it. Of course, market conditions do change from time to time, alternately favoring buyers or sellers. But the long-term trajectory is one of rising value.

Whether you are looking to start a family and need some more space, moving to another city, or simply moving from one neighborhood to another, the end goal is the same: get the highest price in the shortest time frame possible. Doing this effectively requires a smart strategy.

Following are the 5 Essential Steps to Sell Your Apartment in NYC, along with expert tips to help you maximize your sale:*

  1. Get a Good Team Together
    While it is possible to market your property on your own (i.e, for sale by owner), research shows this is not a smart strategy, as it typically takes longer to sell and yields a lower price. Rather, the surest way to speed the selling process and command top dollar for your property is to work with an experienced broker and real estate attorney. Your broker will ensure your property gets maximum exposure on all relevant advertising platforms and within their own buyer network, as well as provide pricing and negotiation expertise. In fact, a good agent will give you expert guidance at every stage of the sales process. Your real estate attorney will handle any potential legal issues that arise. This could include any title claims against the property, outstanding loan payments that must be addressed, or sorting out any complicated paperwork. Your team is required by law to operate in your best interest at all times, which should make your home-selling journey seamless and worry free.
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  2. Effectively Market Your Home
    When it comes to marketing your home, nothing is more important than effective pricing. List your home too high and nobody will call, which in itself causes several problems. The longer your property is on the market without a sale, the less desirable it becomes and the less leverage you will have in negotiation. List it too low, and it could cost you dearly in return on investment. That said, the most common and effective pricing strategy is to list the home just slightly below its appraised value. This will help to generate a steady flow of prospective buyers and can lead to competitive bidding that raises the price considerably.It is also essential to stage your home for marketing photos and showings, including any simple renovations known to help attract buyers. Expert advice is critical here, as some upgrades are worth the time and money, while others are not. As a general rule, you’ll want to sell the home as is, but with more appealing decor. If you could only do one thing to upgrade your home … paint the walls. Nothing freshens up a home more than this. You will also want to declutter, remove all photos and other personal effects, and use very neutral but modern furnishings (which you can rent if necessary). You can learn more about effective staging here.Your agent will also help you get maximum global advertising exposure, including listing your home in the OLR database, StreetEasy, Zillow, Trulia, PropertyShark, the broker’s website, social media, email campaigns and more. Your agent will then help qualify buyers and conduct showings and open houses.
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  3. Accept an Offer and Negotiate Contract
    Once any offers come in, your agent will help you move the sale into the contract phase. Good real estate agents take their fiduciary responsibility seriously. They will not only try to negotiate in your favor, but will also use proven tactics to get it done. Strategies such as “price anchoring” and negotiating in person rather than on the phone are proven to yield better results. A good agent will have well-developed negotiation skills specifically suited for NYC real estate transactions. Moving to the contract phase is a significant step forward in selling your apartment, but it is not yet a done deal. Once in contract, a buyer will typically request a Home Inspection, which could affect the deal should there be any surprises. If the buyer will be taking out a mortgage, the bank will request a Property Appraisal, since they only lend money based on appraised value. This shouldn’t affect the deal, however, since most appraisals come in relatively close to the contract amount.
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  4. Await Board Approval
    The final hurdle to selling your home is awaiting your buyer’s Board Approval, which is required by both co-ops and condos (though co-ops are notoriously more stringent). At this stage, the buyer collects all the required financial documents (which can vary by property), including tax returns, proof of income, income-to-debt ratio, etc., and completes and submits the Board Package. If your buyer has been forthcoming throughout the process, this should go through without a hitch. Reasons for being turned down include such things as: the buyer doesn’t have enough money, they lied, they have a weak job history, or the deal itself is deemed unfair, among others.
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  5. Schedule Closing
    The Final Walk-Through and Closing are typically formalities. It’s a safe bet at this point that the deal will now close, although it won’t be official until the final forms are signed on closing day.The final walk-thru is the buyer’s last chance to see the unit before closing and confirm that nothing has significantly changed in the unit since they signed the contract. The Closing itself includes representatives in fancy suits, mounds of paperwork and lots of check signing, as this is when closing costs are paid and the deed to the property is exchanged. While there is typically a frenetic energy in the room, the day is not a stressful one. Rather it is typically exciting, relieving and joyful all at once.

 

Selling your apartment in NYC is a journey that can take several months to complete. By following these 5 essential steps, you’ll be well on your way to a successful sale.

For more information on selling your apartment in NYC, or any real estate questions you may have, contact Batra Group at (646) 202-1877

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The Difference Between Condos and Co-ops

 

Buying a home is an exciting journey, especially in the capital of the world. For first-time New York City homebuyers, however, there is typically much to learn before the search even begins. Not only do property values and local flavor differ from borough to borough, but also from neighborhood to neighborhood and block to block.

Perhaps the best example of how unique the New York City market is lies in the types of housing it sells – primarily condos and co-ops. Most people are familiar with condos and use the term to describe any apartment for sale within a multi-unit property. But co-ops can also be described this way. And while co-ops are relatively scarce worldwide, they make up 75% of homes for sale in New York City. So it’s more than likely than not that you will come across one in your apartment search. So what are they exactly? And how do they differ from condos?

Following are the key differences between condos and co-ops to help you better prepare for buying an apartment in New York City:

 

Condominiums

When you buy a condo, you become the owner of that specific property. You generally have jurisdiction over what you do with the property, so long as it is within the city’s zoning laws and condo board rules. Want to add or remove a wall? Change the flooring from carpets to hardwood? Maybe upgrade the kitchen and its appliances? These options are all available to you as the owner of the property.

Condos tend to more expensive per square foot, making them more costly overall than co-ops. But they are typically easier to finance, as banks prefer them. Both condos and co-ops typically require a 20% down payment, although some banks require 25% or more for co-ops. Condo fees are usually lower, while property taxes tend to be higher. The tax advantages of owning a condo or a co-op are about the same. All said, the overall cost is 10-40% higher for condos, but that also typically comes with a higher return on investment.

 

Cooperatives

With co-ops, you are not actually buying a piece of tangible property. Instead, you are buying shares of a corporation that owns the building. Think of it as if you’re buying stock in a company. The actual size and price of your unit determines your share, but you still don’t own it as your individual property. This has large implications for you as a buyer, as your actions as a resident are limited by the collective co-op board of the building. This means that the executive board has a say in what you do with your unit, requiring you to adhere to the building’s rules.

While this may appear to be constricting, there are actually several advantages in having a co-op board. The board is there to ensure the stability of the building. Their responsibilities include keeping turnover down, screening tenants, and taking care of simple maintenance work. This can be very appealing, as you’ll have fewer concerns about neighbors and maintenance.

Co-ops tend to be cheaper per square foot. They typically offer buyers more control as an individual shareholder and often have lower closing costs. It is typically a bit harder to obtain a mortgage for a co-op, with some lenders requiring higher down payments. Monthly fees also tend to be higher and can include payments for the building’s underlying mortgage, property taxes, amenities, maintenance, utilities and security. Property taxes are typically lower, whitle tax benefits are about the same.

 

Summary

  • While condos offer more autonomy and a better return on investment, their higher cost and lower inventory makes them less popular than co-ops.
  • It is likely that you’ll come across many more co-ops throughout your home buying search, as they make up 75% of NYC homes for sale.
  • By taking the time to understand the differences between condos and co-ops, you’ll be more prepared to work with an agent to find the apartment that’s right for you.

 

For more information on condos, co-ops or any real estate questions you may have, contact Batra Group at (646) 202-1877.

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Buying vs. Renting an Apartment in NYC

 

It’s the age old question. Does it make more sense to buy or rent an apartment in New York City? The answer is a personal one and depends largely on the time and money you have to invest.

Importantly, New York City is among the most expensive places to live in the US, second only to San Francisco. According to 2019 Miller Samuel Reports, the median rent for a one-bedroom is $3,500 in Manhattan, $2,852 in Brooklyn and $3,000 in Queens. The median purchase price is $1,075,000 in Manhattan, $765,000 in Brooklyn and $550,000 in Queens. For most NYC residents, the option to buy just isn’t on the table. But for those in a more favorable financial situation, the question of buying vs. renting is an important one that can significantly affect their financial health.

Here are 3 important factors to consider when deciding whether you should buy or rent an apartment in NYC:*

  1. Short vs. Long Term
    If you only plan to stay in your apartment for a couple of years, and you don’t have a spare million dollars for an all cash deal, renting is the better option. Roughly 5.4 million people (63% of residents) in New York City rent their homes, so you’ll be in good company. Not only is it more cost-effective for the short-term, but it also saves you the effort of the 3-6 month journey to buy and then again sell your home. If you were to buy, you would be just two years into a 15- or 30-year mortgage, which wouldn’t have built enough equity to make money in the transaction.
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  2. The Tipping Point
    When renting an apartment, there comes a time when the cost of renting exceeds the cost of owning. StreetEasy calls this the tipping point, which in New York City can take an average of 5-6 years to reach. If you do plan to stay in the same apartment that long, and you do have the funds, buying is the smarter option. And this is true not only for the cost but also the equity. Each mortgage payment is an investment in real property that you can sell or borrow against in the future, while each rent payment is money you’ll never see again. A great way to determine the tipping point for your apartment is to use a Buy vs. Rent Calculator.
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  3. Money & Mortgages
    Some people find themselves just at the borderline of being able to buy. They may have some or all of the required down payment (typically 20%), a good job and decent credit. In this case, you really have to sort through the numbers. For example, if you are looking to buy a home worth $800,000, the required down payment would be $160,000. Now there are a number of city and federal programs that offer assistance with down payments, particularly for first-time homebuyers. In some cases, they can reduce it to as low as 3.5%. However, this will likely affect the mortgage rate you get and whether you will be required to buy mortgage insurance. Of course with a lower down-payment the balance will be that much higher, which typically results in higher monthly payments. It’s not unlike being offered a credit card with an extremely high APR rate because of a low credit score. The question is whether you will be in over your head or can find a way to make it work. Many pundits agree that if you don’t yet have the money needed up front, it is probably a sign that it’s too early for you to buy.

 

There is no one-size-fits-all solution to decide whether you should rent or buy an apartment in NYC. But by taking these expert tips into consideration, you will be well on your way to making the decision that best suits your needs.

For more information on renting or buying a home in NYC, or any real estate questions you may have, contact Batra Group at (646) 202-1877

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5 Reasons to Buy an Apartment in Manhattan Right Now

 

Buying a home in Manhattan just got a lot easier, thanks to a record turnaround in the market not seen in nearly a decade. In fact, recent market activity indicates that 2019 has become the year of the buyer. You may want to hold off your apartment search in the outer boroughs and find your steal of a deal right here in the heart of the city.

Here are 5 reasons why you should consider buying an apartment in Manhattan right now:

  1. More Available Units

While sellers have had the edge in negotiations for years, recent data suggests that transactions have been slowing down. According to the 4Q 2018  Miller Samuel Marketing Reports, Manhattan experienced a 6% decrease in median sales price year over year, with a 12% increase in inventory. And this past quarter 1Q 2019 marked the 6th consecutive quarter of year-over-year sales decline, the longest streak since 2008-2009.

There are many factors that may have influenced this drop in sales, including affordability concerns, the disconnect of the housing market from the robust overall economy, and the new tax law. Regardless of the reason, the fact remains that Manhattan has a surplus of units available, giving buyers the most favorable market in a decade.

  1. Dip In Prices

As one might expect, the result of an increase in available units throughout Manhattan has lead to a decrease in average payments made by buyers. According to the Q4 2018 Miller Samuel report, average sale prices for units dropped 3.6% year over year, going roughly from $2,000,000 to $1,900,000.

  1. Strong Local Economy

While high inventory and low prices would suggest a softening economy, this is not the case. As cited in the New York Quarterly Economic Update, Q4 saw an increase in economic growth throughout the entire city. Average hourly earnings are up with solid job growth across most industries. This should be encouraging to those looking to buy or rent in Manhattan, as solid financial footing makes it easier to commit should the time come.

  1. Low Interest Rates 

Mortgage rates are already historically low. But with the Federal Reserve’s recent announcement that interest rates will not rise through the entirety of 2019, we can expect mortgage rates to dip further. According to Fortune (March 21, 2019), the 52-week low drop rate in average mortgage rate fixed for 30 years is 4.34%, making this the best time in years to be a buyer. 

  1. Global Economic Uncertainty

According to Bloomberg, the Global Uncertainty Index, a measure of unpredictability in 20 countries (including US, China and Eurozone), reached a record high in December 2018. This has led to fewer transactions by foreign investors in New York City – particularly those from China, the UK and many South American countries where economies are collapsing.

In fact, China’s recent crackdown on money leaving the country has had a significant impact on NYC realty, as China had been a key foreign investor in Manhattan for years. This translates into more opportunity here at home.

Manhattan remains one of the most dynamic residential markets in the world. By all indications, now is the time to buy.

For more information on buying an apartment in NYC, or any real estate questions you may have, contact Batra Group at (646) 202-1877.