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Jul 7, 2022
2:21
:31
am
HarlemCoug
Free to change my mind
Take a guess CBers: What percent of apartments over $5M are bought in NYC with all cash. The answer may surprise you.
99.6%
For apartments under a million, 52.6% are bought all cash.
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HarlemCoug
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HarlemCoug
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Apr 24, 2024
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Author
Time
Take a guess CBers: What percent of apartments over $5M are bought in NYC with all cash. The answer may surprise you.
HarlemCoug
Free to change my mind
7/7/22 2:21am
Rentals in NYC are shocking too. Just had dinner w/ some recent BYU grads who share
Soupie
7/7/22 2:50am
That's crazy cheap. Must be an old building without an elevator. With 2 baths, it's hard to find a 3-bed for less than
HarlemCoug
7/7/22 3:39am
They just moved to it because other place raised rent after Covid. Said a roommate knows owner &
Soupie
7/7/22 5:12am
That is how you bought yours, right?
Archaea
7/7/22 4:38am
Interest on $5 million is a lot, no matter how low the rate.
Y05
7/7/22 4:45am
How do those percentages breakout as to whether foreign buyer (or their LLC)?
legiaourbana
7/7/22 5:21am
Good question. It changes from year to year but right now only about 15% of buyers are foreign. The Chinese government
HarlemCoug
7/7/22 6:25am
Interesting tidbit. 40% of NYC residents were born in a foreign country.
HarlemCoug
7/7/22 6:28am
All interesting. Thanks for the post and thoughtful response.
legiaourbana
7/7/22 9:31am
Wow, that’s surprising
Texas Hammer
7/7/22 6:20am
Foreigners know NYC won't allow new building which would dilute their asset
novacoug1
7/7/22 7:02am
Many Co-ops don’t allow mortgages
BYU-TIFUL
7/7/22 7:14am
Is it an HFDC?
HarlemCoug
7/7/22 8:07am
Yep, it was.
BYU-TIFUL
7/10/22 1:48pm
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