Great deals in New York temper sky-high prices
PROPERTY in some of America’s largest metropolitan areas – New York City in particular – has held its value fairly well thanks to notoriously high rental yields.
A 15th-floor, one-bed apartment in Manhattan will set you back nearly $600,000.
But investors may struggle to find a mortgage, and deposits required by banks are higher than ever.
However, there are still deals to be done for buyers with cash. Ross Ellis, a broker with Halstead Property, said Manhattan was a special case within the fluctuating property market.
“We haven’t seen any firesales but over the past four to six months, I’ve been very busy with cash buyers who have benefited from some wonderful deals.”
INFORMATION: www.halstead.com