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Spotlight on NY Real Estate Thumbnail

Spotlight on NY Real Estate

As part of a diversified portfolio, Avrio advisors discuss how real estate fits into our client’s financial plan. Investments into real estate may be made through ETFs, mutual funds, stocks, REITs, real estate partnerships and syndications or direct ownership.

There are pros and cons to each, but often it comes down to how active our clients want to be with managing their real estate allocation, what type of real estate they want to own and their return requirements. 

When our clients want to own residential real estate directly, we work closely with them and other professionals to structure the purchase in a tax and risk efficient manner while ensuring the investment helps achieve their financial goals. 

Covid-19 sent real estate prices soaring globally, but there are still good investment opportunities to be found for clients who want direct ownership in New York City. 

The recovery of New York real estate is well underway. In the first half of 2021, New York residential real estate saw a volume of transactions not seen since the peak of 2017. While prices have recaptured the "Covid-19 discount" of 2020, some are still under the peak price points of the last boom. Knowing the worst is behind and the next cycle beginning, it may be the ideal time to buy.

Several developers have shadow inventory (units not officially on the market) and are offering discounts of 10%-30% off the original pricing. Further, these units have finishes that would be cost-prohibitive to build today due to supply delays and cost escalations. These units are ideal for clients who want to take advantage of the strong rental market or have a base in New York.

New York was one of the hardest-hit cities when the Covid-19 pandemic first started. The citizens have taken it seriously and the city and state of New York are well over 70% vaccinated. As a result, life is returning to normal.

Avrio has worked closely with Martin Eiden of Compass, a broker with 22-years of experience, to assist our clients who want exposure to NYC real estate. If you would like more information, please reach out to annmarie@avriowealth.com  

This material is intended for educational and informational purposes only. It is not intended to provide specific advice or recommendations for any individual. Additionally, you should consult with your Financial Advisor, Tax Advisor, or Attorney on your specific situation.  The views expressed in the material are that of the author and do not necessarily reflect those of any market, regulatory body, State or Federal Agency, or Association.  All efforts have been made to report or share true and accurate information.  However, the information may become materially outdated or otherwise rendered incorrect due to subsequent new research or other changes, without notice. The author nor the firm are able to always verify the content from third party sources. For additional information about the firm, please visit the MAS Website at https://www.mas.gov.sg/  and the SEC Website at www.adviserinfo.sec.gov.  For a copy of the firm's ADV Part 2 Brochure, please contact us at info@avriowealth.com