Did You Miss The Buyer’s Market in NYC?

The short answer is yes, you probably missed your best chance to grab a townhouse at a discount in Brooklyn earlier this year.  If you are looking in Manhattan you might still have a chance at a 5-10% discount but your window is closing rapidly.  If you are looking in Queens, its somewhere in between.  See the short videos below on the rise of new signed contracts and savvy real estate buyers and investors looking for deals.  

Signed contracts are UP year over year right now.  Suggesting we are at or have  passed the bottom of the covid real estate market:

In the last month or two, my new buyers are outpacing my new sellers about 6 to 1:

Here is a video from the beginning of October where I discussed how busy the Brooklyn market was already:

My Latest Investor Friendly Brooklyn Listing: 
This just came on the market today.  Its a turnkey 2 family in Brooklyn close to the 2 & 5 trains, Kings County Hospital and Brooklyn college.  It was most recently used as an investment property with 7 bedrooms, 3 baths and pulled in about an 8% cap rate for an intrepid investor as an Airbnb in East Flatbush.  Asking $1.095M 

Listing here:https://www.corcoran.com/nyc-real-estate/for-sale/east-flatbush/971-new-york-avenue/6191855

Walk through video below:
971 New York Ave, move-in ready, 2 family in East Flatbush, Brooklyn

Want more numbers? Market reports below:

MANHATTAN Q3 Market Report –click for the full report
BROOKLYN Q3 Market Report – click for the full report

Follow me on Instagram, Facebook and Youtube or contact me here.