Foreigners know NYC won't allow new building which would dilute their asset

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Jul 7, 2022
7:02:52am

novacoug1 All-American

Foreigners know NYC won't allow new building which would dilute their asset

Value.

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novacoug1

Bio page: novacoug1
Joined: Jan 31, 2012
Last login: May 12, 2024
Total posts: 9,697 (28 FO)

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Messages

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)?

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.

7/7/22 9:31am

Wow, that’s surprising

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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