New York condominium apartments outperformed major indices in 2015

By Wei Min Tan
​Jan 7, 2016

Global investors who have already invested in a Manhattan, New York condominium have reason to be cheerful.  In 2015, Manhattan condo apartments far outperformed major global indices.
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127 E 56 ST, 4TH FL, NEW YORK, NY 10022 USA212.682.8494hello@castle-avenue.com

Wei Min Tan is a property broker focusing on Manhattan, New York luxury condominiums and foreign buyers.   He is often interviewed by the media including CNN, The New York Times and The Wall Street Journal on the subject of foreign buyers of Manhattan property.  View Wei Min's media appearances.  

Wei Min can be reached at +1.212.380.6134, tan@castle-avenue.com.
In Q4 2015, average price per square foot of a Manhattan condominium increased 26.2 percent, to $1,959 per sqft, compared to a year ago. 

With leverage using 50 percent equity and 50 percent debt, the returns could be magnified to 48.7 percent.  At 50 percent equity, rental income should cover all expenses (mortgage, common charges, taxes, insurance).  

Q4, 2015 condo metrics:
Average price per sqft: $1,959 (+26.2% vs year ago)
Median price: $1.735m (+21.3%)
Sales volume: 1,434 (+28.6%)
Days on market: 96 (-7.7%)

Among the indices compared in the chart, only the Nasdaq was up in 2015.  All others were either flat or down with Gold declining the most, by 10.7 percent.



Related Links:

Foreign Buyer Guide To New York Property

The Role Of A Buyer's Broker


Castle Avenue Team      
at Rutenberg
127 East 56 St, 4th fl, New York, NY 10022        tan@castle-avenue.com        +1.212.380.6134                                                            Property Blog
Manhattan, New York residential condominium specialist focusing on investors and international buyers