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It's an ongoing narrative that the city has a glut of brand new luxury condos and the pandemic has compounded the problem, as privacy and outdoor space are prized over tall buildings with shared amenities.
What that means is that there's plenty of choice if you want to buy new development right now and it's likely you'll get a deal that would have been impossible 18 months ago. It's true that lower priced new development, under $2 million, is selling faster than higher-priced inventory but even so it will take many many months, even years to sell what's currently available.
In this episode of the Brick Underground Podcast, broker Ryan Serhant, CEO and founder of the real estate brokerage SERHANT, joins host Emily Myers to share his expertise on what kind of deal you can get if you plan to buy and what challenges you face if you want to sell.
What are the incentives you can expect from a sponsor when you are looking to get to a deal? And what are some of the biggest misconceptions buyers have about new development? And for sellers—what is the Covid discount they should be considering? These are some of the questions explored in this week’s episode.
We'd love your feedback on this or any of our other episodes. We'd also love to answer your questions. Leave us a rating or review wherever you get your podcasts. Send us an email, sign up for our newsletter or follow us on social media @BrickU.