NYC/Brooklyn/Queens/ Bronx Investors

[Allan Szlafrok]

Hey i was curious to see what people are seeing in the NYC Market. Im starting to see a recovery starting as prices have come down a bit and theres some interest in well priced assets. Residential sales are up, leasing activity is up, and anecdotally from my perch in downtown Manhattan i can tell you its starting to get busy again. Industrial is on fire, retail is starting to bottom out, and sellers are beginning to adjust their expectations on multifamily assets and they are starting to trade again. And all the suburbs here are hot too for all asset classes. Plus the Knicks are good again! So my question is...what say you? What are you seeing?

PS- Im not interested in hearing from out of state investors who dont live/invest here who just want to take pot shots at our city and politics. Im well aware of the issues we face here thank you very much. Take your negativity to someone else's post its simply not productive.

[Allan Szlafrok]

@Santiago Marquez

Yeah thats pretty much the story most landlords are telling. Im not sure the situation is as dire as people thought there arent that many landlords looking to sell at any price at this point and if and when the federal rent dollars hit their intended targets that will help as well. Most people are willing to hold on even if they are losing some money in the short term. Yeah the city needs to open up some more and i think people looking for big discounts are going to be disappointed. That being said i think its a good time for people to buy given that the bottom is most likely in for NYC.