The New York City real estate market experienced a major blow in 2020, resulting from the pandemic. Landlords had a hard time filling vacant apartments. Property owners, on the other hand, struggled to find buyers.
Thankfully, 2021 has registered a major turnaround, and the market is showing signs of life. In the first quarter of 2021 alone, Manhattan had recorded a higher number of luxury home deals than 2020’s total.
There were an impressive 694 signed deals for homes asking $4 million and more in New York City. [Read more…] about What You Should Know Before Investing in Luxury Real Estate