NYC market report · by Ricardo Ramirez

MARKET REPORT NYC Report about the real estate market for the area NYC / USA

NEW YORK CITY OWNERSHIP ¡ THE NEW SWISS BANK ACCOUNT

New York City real estate is the new Swiss Bank Account and the premier destination for foreigners with Euros, Rubles, Yuan, Pesos, and other liquid assets to safe keep.

Almost a third of sales are to international buyers mostly from Asia, and the rest evenly split between Latin America, Europe, and the rest of the world. Most all buyers are basically looking for a real estate safe-deposit box to stash, grow and put their money away in a safe place.

Ricardo Ramirez Affiliation Partner for NYC of KENSINGTON Finest Properties International AG THE AREA

Some claim the market is cooling, shifting, correcting, softening, and/or stabilizing, that, depending upon who you ask. To be clear, deals are happening, prices are still very close to all-time highs, and an overall demand far exceeds supply in NYC. The market is perhaps going through a correction, as it seems to do every few years.

NYC ¡ Paradise for investors When markets are decreasing in prices, they offer investment opportunities.

For example, someone in the city owns an apartment worth $2 million and the market goes down -

10%. That apartment is now worth $1.8 million. If a foreign client was planning to invest $3 million in an apartment in NYC, that apartment is now worth $2.7 million. The net gain for

the purchaser is $300 thousand. If you already own a NYC property in a down market, it is the best time to sell your current property and buy a larger one.

experiences to be had here in New York City, things that are wonderful, incredible, and exceptional in more ways that I could have imagined. From its first sighting by Italian explorer Giovanni da Verrazano in 1524, all of Europe coveted the New York harbor. First settled by the Dutch, they soon lost it to the English, and eventually New York

became the first capital of our new nation when George Washington was sworn in at Federal Hall on Wall Street as the country's first president in 1789. Since then the city has become a major port, center of commerce, and a cultural, shopping, and entertainment mecca other cities try to emulate.

Metropolitan region with history As anyone who has fought crowds, stood in interminable lines, or borne unsubstantiated attitude can tell you, it is the quality of the overall experience that catapults an activity over the bar of a simply impressive and into the realm of the supremely special and indisputably enjoyable. There are plenty of the latter type of

„The big apple“ · The city that never sleeps New York has it all, from a giant statue, of Liberty, to enormous spans connecting the boroughs; amazing sports teams and history on every corner. There is much to do uptown in Central Park, downtown at the South Street Seaport, and all around the town. With about nine million residents from everywhere around the globe, there's an ethnic flair that makes the city a gigantic melting pot reflecting its immigrant story. Each of the five boroughs has its own

distinctive flavor, while neighborhoods and even individual streets have personalities all their own.

The city is rich with culture, including Museum Mile with its world-class institutions like the Metropolitan Museum of Art and the Guggenheim, and hundreds of galleries scattered about Chelsea, SoHo, and the Lower East Side. There is classical music, opera, and jazz at Lincoln Center and Carnegie Hall, and the Great White Way highlights the best of Broadway theatre.

New York is the home of Wall Street and more Fortune 500 companies than any other city around the globe. It is a city of big dreams. New York's streets pulsate with a 24/7 energy that attracts more than 45 million visitors each year.

Whether it is your first visit or your hundredth, there is too much to do in a day, a week, or even a month, so you have to keep coming back.

Manhattan · Architectural work of art Those living in Manhattan thrive on its fast pace and rich culture. Walking the streets of Manhattan is a common and necessary means of transportation, while public transportation is wide covering the entirety of Manhattan it also takes riders to surrounding

boroughs as well.

Manhattanites do, however, have at their disposal plenty of places to unwind and relax. Expansive Central Park, one of the largest city parks in the country, is spread over 843 acres.

Locals love it and head there not only to walk, bicycle,

skate, or jog, but also to enjoy the park’s pretty lakes, visit the Central Park Zoo or Conservatory Garden, or take in a production at the Delacorte Theater.

Other areas of the city, like Lower Manhattan, have strived to provide as much green space as possible for

local residents and, as such, have begun to attract young families with a desire to combine the convenience of city living with a healthy lifestyle for themselves and their children.

One of the most wonderful pleasures of living in New

York City is strolling its streets. Awesome skyscrapers, nestled gems and a mixture of old world and modernist construction, New York City is an architectural work of art.

Find inspiration from the soaring towers, detailed

facades and a diversity of design styles.

Notable landmarks serve the imagination, awakening emotions of a bygone era.

With exquisite detailing, practically every building inspires the imagination.

[The content provided through this article should be used for informational purposes only and is not intended to be a substitute for professional advice. Always seek the advice of a relevant professional with any questions about any financial decision you are seeking to make.]

Compiled by Ricardo Ramirez · Licensed Real Estate Broker KENSINGTON Finest Properties International · New York City Open Deuren LLC, Exclusive Affiliate of KENSINGTON Finest Properties International AG Tel.: +1 212 603 9926 Ext.109 www.kensington-international.com · nyc@kensington-international.com