A local RE Pro from the city will likely chime in here soon. I work on the Jersey Coast, and we have city buyers migrate to us. Two reasons: A few seek a more suburban lifestyle and want a SF home and yard. Others simply come because they get more for their $$ and we have a buyers market. The buyers who come to us from NYC are clearly telling us that is not a buyers market for them there. Particularly, our residents commute to downtown via ferry, so many of these buyers are discussing lower Manhattan. That's the view from here.
Great question. Since the NYC market does have this domino impact on us, I will check back for the responses from NY RE Pros.... more
I would just look for new developments. You can also specify in OLR that your looking for sponsor units and it will pull all of them up. Sponsor units usually demand a premium because there is no board approval. If you have any questions please feel free to email me.... more